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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?


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