Libtalker Bill Press Praises Obama's Economic Policies

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Press Praises Obama For Economic Mission Accomplished







For uberpartisan libtalker Bill Press, these have got to be difficult times. How does one retain credibility while defending Barack Obama's crazy tax-and-spending schemes?

His apparent answer: forget how silly it might appear and back the president no matter what.

Independent thought? Never heard of it.

That's about the only way to explain the former CNN Crossfire host's ridiculous assertion that "Obamanomics has worked", saving the economy through massive government growth.

From his syndicated radio program, here's the caught-on-tape clip:





Yet, even Press realizes that the "recovery" party will be over as soon as the feds take away the punch bowl. That's why he backs additional spending schemes that will continue the all-is-well illusion.


And unfortunately for Bill, a number of leading economists and market analysts are pouring cold water on the very same figure he cited as evidence of a turnaround: last week's quarterly GDP report.

From CNBC:

U.S. third-quarter GDP data was "horrible" and investors will soon realize that it wasn't as good as they initially thought, Marc Faber, publisher of the Gloom, Doom and Boom Report, told CNBC.com.

"I wouldn’t rely on the GDP figures and I think the market will actually realize that they were quite poor," Faber said.

The figures, which pleased investors by beating analysts' consensus expectations Thursday, didn't give positive signs for personal income and unemployment, Faber pointed out.

U.S. gross domestic product grew at 3.5 percent on an annualized basis, showing that the economy was, at least unofficially, out of its longest recession since the great depression. But Faber told CNBC.com that the figures were not always reliable. "I wouldn't rely on GDP figures, you can manipulate them," he said.

Beyond how economists interpret the stats, what about the general public? Do they believe the downturn is over? Consumer confidence numbers strongly suggest the opposite.

While some libtalkers have wisely begun to distance themselves from Obama's missteps, Bill's partisan hat has permanently been attached to his head.



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