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Dems: 'Best-looking contraction you'll ever see'
Posted By -NO AUTHOR- On 01/30/2013 @ 12:33 pm In Money,Politics,U.S. | No Comments
(WEEKLYSTANDARD) — In response to the news today that the economy contracted -.1 percent in the final quarter of last year, Democrats are touting the claim that this is “the best-looking contraction in U.S. GDP you’ll ever see.” The claim was originally made by chief U.S. economist for Capital Economics Paul Ashworth.
“The drag from defense spending and inventories is a one-off. The rest of the report is all encouraging,” Ashworth also claimed.
The claim was quickly seized upon by Democrats, looking to share good news about a contracting economy.
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