Friday's release of Gross Domestic Product figures (GDP) shows the problem goes well beyond current blame game for debt crisis:
(Reuters 7/ 29/2011) - The economy stumbled badly in the first half of 2011 and came dangerously close to contracting in the January-March period, raising the risk of a recession if a standoff over the nation's debt does not end quickly.
Output increased at a 1.3 percent annual pace in the second quarter as consumer spending barely rose, the Commerce Department said on Friday. In the first three months of the year, the economy advanced just 0.4 percent, a sharp downward revision from the previously reported 1.9 percent gain.
"The economy essentially came to a grinding halt in the first half of this year," said Ryan Sweet, a senior economist at Moody's Analytics in West Chester Pennsylvania.
Yet Democrats seem hell bent on trying to blame Obama's poor economic performance on the Tea Party. Here's what Senate Majority Leader Harry Reid (D-NV) said on July 24th:
"Their unwillingness to compromise is pushing us to the brink of a default on the full faith and credit of the United States," he said.
The consequence of a default would be equal to some sort of economic Armageddon (as if things could get any worse) with the clear implication that Republicans in general and Tea Party folks in particular would be to blame.
Obama and the Democrats had nearly two full years of unstoppable power in both Houses of Congress and the White House. They spent $TRILLIONS which did next to nothing to help the economy and was more about rewarding big labor and liberal causes. Now, they flail around trying to blame their corruption and incompetence on someone else.
There's just one problem: poll after poll after poll shows the American people aren't buying it!
The Tea Party isn't the cause of the problem, they are the SOLUTION!
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