The Hill | Harry Reid: ‘We are in a recovery’

Senate Majority Leader Harry Reid (D-Nev.) on Thursday said the American  economy is "in a recovery" despite the decline in the nation’s gross domestic  product (GDP).

Reid made the remark after Senate Minority Leader Mitch McConnell (R-Ky.)  blamed the White House for the unexpected contraction in the economy.

“[McConnell] continues bad mouthing the recovery,” Reid said on the Senate  floor. “We are in a recovery.”

On Wednesday, the Commerce Department announced  that the nation’s economy unexpectedly shrank by 0.1 percent in the fourth  quarter of 2012. Echoing the White House, Reid blamed the GOP’s “austerity and  brinkmanship” for the plunge.

“Growth went down in the fourth quarter because of reduced government  spending,” Reid said. “The economy was rejecting the austerity and  brinkmanship.”

More.



(18853 Posts)