The recovery is A-OK.
Did jobless claims rise by 38,000, to 368,000 last week? Yes. No problem.
The total number of people claiming benefits in all programs for the week ending January 12 was 5,914,983, an increase of 255,501 from the previous week.
Did GNP fall in December? Yes. No problem.
How do I know there is no problem? Because Harry Reid says so.
Just a brief comment on my friend, the Republican leader’s, statement. He continues bad-mouthing the recovery. We are in a recovery.
Yes, growth slowed in the fourth quarter. Why? Republicans.
The moral of the fourth quarter is a repudiation of the Republican playbook. Growth went down in the fourth quarter because of reduced government spending, and a reticence in the private sector as government fought over the fiscal cliff. And that fight came as a result of the Republicans being so unreasonable. … The economy was rejecting the austerity and brinkmanship… The Republican playbook of continually complaining about spending is something — we know we have to do something about spending, we understand that, but there’s more to making our economy recover than just continually harping on what’s going on with spending. …We also have to do something to have a fair program. … Is it fair that the Republicans continue to want to go after Social Security, Medicare, even food stamps, that benefits the poorest of the poor, let’s start talking about fairness.
Government spending increases economic growth. Harry Reid says so. John Maynard Keynes said so. Obama says so. Bush said so. How could they all be wrong?