Economy Shrank More Than Expected in Fourth Quarter - Presidential Politics | Political News - FOXNews.com

It seems the Administration's economic people can't figure out what's going on. This speaks to the Obama Administration's poor judgment on economic matters. To wit: They are projecting all manner of revenue and other developmental growth in the coming 10 years. But they can't even pull the data together for current times. No one has a crystal ball, and even though Obama would lead us to believe he does, he doesn't.

The problem is that he is politicizing the economy, rather than dealing with the reality of it. Positive perceptions are always good to help a dank economy, but to outright mislead will only put us deeper into the hole, because we can't plan well enough to do anything positive or corrective. And this performance means that Obama can't even deal with anything that's right in front of him.

It gives me no please to say that it appears Obama's critics were correct: his judgement is poor, at best.


Economy Shrank More Than Expected in Fourth Quarter - Presidential Politics | Political News - FOXNews.com:

"The U.S. economy contracted at a staggering 6.2 percent pace at the end of 2008, the worst showing in a quarter-century, as consumers and businesses ratcheted back spending, plunging the country deeper into recession.

The Commerce Department report released Friday showed the economy sinking much faster than the 3.8 percent annualized drop for the October-December quarter first estimated last month. It also was considerably weaker than the 5.4 percent annualized decline economists expected."