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Democrats Blame Republicans for Shrinking U.S. Economy

The Commerce Department announced on Wednesday that the U.S. economy shrank at a rate of 0.1 percent in the last quarter of 2012. House Minority Leader Nancy Pelosi (D-CA) released a statement on the news which read, “Today’s disappointing GDP report is a direct result of the economic uncertainty created by the House Republicans’ strategy of obstruction and manufactured crises.”

With six trillion dollars in debt, 50 million Americans in poverty, and one in six on food stamp, Sean Hannity asked former Clinton economist Jeffrey Frankel, “Isn’t it time

for [President Obama] to put his pants on like a man, sit at the table and accept responsibility?”

Frankel reminded Hannity, “We all thought during the last couple months of 2012 that there would be a lot of uncertainty because of this fiscal cliff that was going to hit us January 1st. It turned out that the biggest effect was the defense equipment purchases fell by 22 percent in the last quarter, that’s the big negative number that’s in this morning news.”

Frankel said he was surprised that that household consumption and business fixed investment both increased. Hannity interrupted, “The economy sucks. The economy’s not growing. People aren’t getting jobs and you’re trying to tell – ‘this really isn’t that bad.’”

GOPAC President David Avella weighed in, saying, “Sean, nobody’s advocating that we return to the final years of President Bush’s economy, but we can’t remain in the Obama economy which is ‘let’s manage every piece of the economy.’”

Avella noted that 9 of the 11 states that have created a net positive on jobs are Republican governors. “Why won’t this president actually invite Republican governors and say ‘look, what policies are you putting in place to create jobs?’ He won’t because ultimately his ideology believes everything government can do, it should do and it should control, and it ultimately hampers our economy.”

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