Barrack Obama and the rest of the Democratic party must be really disappointed today, the recession they have been hoping for is not materializing.
The Commerce Department released the figures for the gross domestic product today and the GDP was higher than anticipated. The GDP increased at 3.3% in the April - June quarter. This was higher than both the 1.9% initial estimate and the 2.7% growth rate predicted by economists.
The definition of a recession is two or more consecutive quarters of negative GDP growth. Of course this hasn't stopped the Dems, and their public relations department the network news programs, from saying we’re in a recession.
Senator Charles Schumer (D, NY) in the spring said that the economy had stalled and that 90% of the people in the country were experiencing a recession. Which was an idiotic thing to say, not only because we were not in a recession but because people do not experience a recession, governments do. We cannot have 90% of a country's people in recession, it is an all or nothing deal.
The media has been just as complicit. All three of the major networks have ran stories on the country's recession. They have ran stories on how people are coping in the current recession. Which are nice and caring stories, if we were in a recession.
What this coverage was, other than patently false, was damaging. One of the worst things to do with a recession is to undermine consumer confidence. It is especially irresponsible to do something like this for purely political and ideological gain. The leftists in the Democratic party and the media saw an opportunity to attack George Bush and they are not going to let something as innocuous as the truth or concern for the country to stop them from doing it.
So the Democrats are going to have to forge ahead somehow and try to carry on with the news. Maybe they can still cling to the hope that the Iraq war could get worse before the election. Nothing would make the Dimwits happier than a bunch of troops dying so they could say I told you so.