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Townhall Finance
The Top 7 Lies of Obam-a-CON-omists… So Far
By John Ransom
Aug 13, 2013 

There they go again: while admitting to their lie about first quarter GDP, government economists are finding new ways to lie about second quarter GDP. 

While all of the attention for market-watchers has been on will-they-or-won’t-they taper at the Fed, the real story GDPof the year is the fact that the Commerce Department just downgraded GDP growth once again, in at least a partial revision of the lie they first told last winter. 

And lost in the official revisions to GDP and the revisions to revisions and the revisions to revised revisions, is the story of how ordinary people are struggling. And lost is the way  they want ordinary folks to stay. Why? Because politicians are getting ready for another round of reckless spending. 

The tape doesn’t lie, they say in the stock market, but this government finds ingenious ways to lie every day about the economy as Main Street languishes. 

If Mark Twain said that there were lies, damned lie and statistics, I would only add a fourth category: government statistics. 

More specifically government statistics put out by Obama economists. 

First quarter GDP was revised downward from an initial reading of 1.7 percent to 1.1 percent, a revision amounting to a whopping 35 percent. Even Republican pollsters got better margin of error against Obama in 2012. 

I know what you are thinking: These are the same honest O’bam-a-con-O’mists who sold America Obamacare as a deficit reduction measure-- a measure that would decrease healthcare costs, improve healthcare, wash your car and make the seas part so Al Gore could walk to Europe instead of taking his jet. 

Thus, we should just give them the benefit of the doubt like stock traders do. 

Well, if this stock market ever tries to trade just on real fundamentals- like it used to- the new cash-induced highs that we’re told are the new normal could crash, as they normally do when taken of the Fed’s cash-drug abruptly... 

Read the rest of the article at Townhall Finance

 


 
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