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IBD | Obama’s out of excuses on economy





The economy shrank last quarter, the deficit topped $1 trillion last year,  U.S. debt shot up $5 trillion in the past four, and joblessness is at 7.8%. Boy,  President Obama sure inherited an economic mess, didn’t he?

According to the Bureau of Economic Analysis, the economy "unexpectedly"  declined 0.1% in last three months of 2012, the first decline since early  2009.

The Obama administration, naturally, tried to look for scapegoats, this time  settling on Hurricane Sandy and Republican-induced uncertainty over the "fiscal  cliff" outcome.

But if that were the case, why was the administration running around late  last year telling everyone how great the economy was doing?

More.



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