.png)
To paraphrase the old Meat Loaf song, “One out of three ain’t bad.” That’s as much consolation as Americans can take from the behavior of the three main broadcast networks over the last two nights.
Wednesday morning brought the disturbing news that the U.S. economy had cratered to a -2.9 percent GDP growth rate in 1Q 2014. This was the worst GDP report in five years. Clearly this was big news.
Well, evidently not big enough for ABC’s World News Tonight nor NBC’s Nightly News with Brian Williams. Between them, neither broadcast uttered a syllable about this vital matter on Wednesday night.
To its credit, Wednesday’s CBS Evening News aired a full story on this downer. “The U.S. economy was in worse shape at the beginning of the year than we thought,” said anchor Scott Pelley as he introduced correspondent Anthony Mason’s detailed analysis.
Meanwhile, NBC discussed America’s efforts at the World Cup soccer tournament and gave a brief preview of Matt Lauer’s interview with Pippa Middleton, the sister of the Duchess of Cambridge. But Nightly News could not spare a moment to mention the growth gap into which America has tumbled.
“The U.S. economy is $1.6 trillion smaller than what an average recovery over the last 50 years would have generated,” Representative Kevin Brady (R., Texas), chairman of the congressional Joint Economic Committee, said in a statement. “Since the recession ended in June 2009, the cumulative loss in output has been $4.0 trillion compared with an average recovery. This lackluster performance explains why a family of four is missing more $1,100 in after-tax income and why there are 5.8 million fewer private payroll jobs compared with an average recovery.”
Read the full story: www.nationalreview.com
Follow Larry Elder on Twitter
"Like" Larry Elder on Facebook
No comments:
Post a Comment
Comment Policy:
The author of this blog will attempt to engage in conversation via the comments section whenever possible and recognize the 24/7 nature of the internet. Moderating and posting of comments will occur during regular operational hours Monday through Friday. Comments submitted after hours or on weekends will be read and posted as early as possible, however admins and/or the author is unable to commit to replying to every comment posted.
This is a moderated blog. That means all comments will be reviewed before posting. In addition, it is expected that participants will treat each other, as well as the author and admin, with respect. Comments that contain vulgar or abusive language; personal attacks of any kind will not be posted. Comments that are spam or that promote services or products will not be posted. It is requested that all comments remain on topic.
The Elder Statement blog does not guarantee or warrant that any information posted by individuals on this blog is correct, and disclaims any liability for any loss or damage resulting from reliance on any such information. The Elder Statement blog may not be able to verify, does not warrant or guarantee, and assumes no liability for anything posted on this website by any other person. The Elder Statement blog does not endorse, support or otherwise promote any private or commercial entity or the information, products or services contained on those Web sites that may be reached through links on our Web site.
To protect individual privacy and the privacy of others, please do not include phone numbers, addresses or email details in the body of a comment. Such information will result in removal of a comment.
Thank you for your attention.
The Elder Statement