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Gregory: Give Obama More Credit For Economy

First we have this from the Washington Examiner:

NBC’s David Gregory begs public to give Obama credit on economy

By Paul Bedard | FEBRUARY 3, 2014

This week’s Mainstream Media Scream features NBC’s David Gregory complaining on NBC’s State of the Union coverage and his "Meet The Press" Sunday show that President Obama isn’t getting the credit for the economy, which he said “is getting better.”

Near the beginning of NBC’s State of the Union coverage, he insisted “the economy’s getting better,” declaring: “That’s what this president had to do. He had to make the economy better. And, yet he’s not getting a lot of credit for it.”

Then, on the Feb. 2 "Meet the Press", Gregory fretted to White House chief of staff Denis McDonough: “Do you ever wonder why the president doesn’t get more credit for an economy that is rebounding? What’s the disconnect there?”

Media Research Center Vice President of Research and Publications Brent Baker explains our pick: “The disconnect is Gregory’s disconnect from reality. To whatever extent the economy is slightly improving, it’s despite Obama’s policies, such as the burdens and uncertainties of Obamacare. President Reagan fixed the economy within three years, yet the media continuously derided “Reaganomics.” Obama has yet to achieve Reagan’s success, but journalists like Gregory never deride ‘Obamanomics.’

Meanwhile, we have this bleak news from a suddenly concerned Reuters:

U.S. factory, construction spending data hint at slowing economy

By Lucia Mutikani | February 3, 2014

NEW YORK (Reuters) – U.S. manufacturing activity slowed sharply in January on the back of the biggest drop in new orders in 33 years while construction spending barely rose in December, pointing to some loss of steam in the economy.

"Biggest drop in new orders in 33 years."

Economists largely blamed frigid temperatures for the chill in economic activity and said they expected a rebound in the months ahead. However, they also cautioned that the economy was receiving some payback after a strong performance in the second half of 2013.

You see, when it’s cold factories, don’t need to order things.

"The disappointing data provide further confirmation of a dramatic slowing in economic growth momentum," said Millan Mulraine, deputy chief economist at TD Securities in New York. The Institute for Supply Management (ISM) said its index of national factory activity fell to 51.3 last month, its lowest level since May 2013, from 56.5 in December…

Funny, but just last week this very same Reuters reporter and the rest of the news media all said the economy was roaring. Despite new unemployment claims being up yet again, and housing starts being down, and the sale of durable goods being way down.

And we also have these tidings via CNBC:

Stocks unravel after factory report; Dow sinks 300-plus points

By: Kate Gibson | Monday 3 Feb 2014

U.S. stocks were hammered on Monday, with benchmark indexes falling through key support levels after a gauge of factory activity disappointed, heightening concern about the economy before Friday’s monthly jobs report…

"A report like this scares people ahead of the payroll number on Friday," said Andres Garcia-Amaya, global market strategist at J.P. Morgan Funds, who added the report’s soft new orders component was of particular concern…

"The significance of the ISM report is not lost on the markets that are unsure how the new Fed chair will respond. Janet Yellen comes before Congress on Feb. 11," he added.

Dropping below its 200-day moving average for the first time since Dec. 28, 2012, the Dow Jones Industrial Average shed 326.05 points, or 2.1 percent, to 15,372.80, with all but one of its 30 components in the red.

The S&P 500 fell 40.70 points, or 2.3 percent, to 1,741.89, with telecommunications falling hardest and all 10 of its major groups in decline. Falling under 4,000, the Nasdaq declined 106.92 points, or 2.6 percent, to 3,996.96. For every share rising, more than six fell on the New York Stock Exchange, where almost 872 million shares traded hands…

So it’s a good question. Why isn’t Obama getting the credit for this?

This article was posted by Steve on Tuesday, February 4th, 2014. Comments are currently closed.

4 Responses to “Gregory: Give Obama More Credit For Economy”

  1. captstubby says:

    ‘Obamanomics.’ definitions;

    88,310,000 unemployed =Early Retirement,real early.

  2. GetBackJack says:

    Delighted to, Mr. Gregory. NBC is downsizing everything and your Notice of Non-Renewal of Contract should be in the mail shortly. BTW, your NBC Insurance carrier dropped you ..

  3. Petronius says:

    But wait a minute. I thought we were supposed to be blaming Bush for the bad economy.

    It’s Bush’s fault, right?

    No, wait. It’s the Republicans’ fault.

    No, it’s those pesky Tea Party extremists.

    Wait, no, it’s FoxNews.

    Hold on … I’ve got it … it’s that hateful and offensive video!

  4. canary says:

    After all, covering Bambi’s a** has kept NBC’s David Gregory’s job.

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