Dems Delusional On Economy

Here is some solid evidence that Democrats are delusional about the economy... they HAVE to be, if they want to keep their majorities in November. Listen to Rep Jim Moran (D-VA) try to tell us that the economy "has recovered."
http://www.realclearpolitics.com/video/2010/06/26/dem_congressman_the_economy_has_recovered.html

Meanwhile, the growth estimate for the first quarter, which was estimated at the time to be 3% growth, was downgraded to 2.7%.
http://www.cnsnews.com/news/article/68476

The government lowered its estimate of how much the economy grew in the first quarter of the year, noting that consumers spent less than it previously thought.

Gross domestic product rose by 2.7 percent in the January-to-March period, the Commerce Department said Friday. That was less than the 3 percent estimate for the quarter that the government released last month. It was also much slower than the 5.6 percent pace in the previous quarter.

And there are other, MANY other, signs of economic troubles INCREASING in the near future.

http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/7857595/RBS-tells-clients-to-prepare-for-monster-money-printing-by-the-Federal-Reserve.html

The ECRI leading indicator produced by the Economic Cycle Research Institute plummeted yet again last week to -6.9, pointing to contraction in the US by the end of the year. It is dropping faster that at any time in the post-War era.

The latest data from the CPB Netherlands Bureau shows that world trade slid 1.7pc in May, with the biggest fall in Asia. The Baltic Dry Index measuring freight rates on bulk goods has dropped 40pc in a month. This is a volatile index that can be distorted by the supply of new ships, but those who watch it as an early warning signal for China and commodities are nervous.

It's a huge gamble to proclaim that the economy "HAS RECOVERED" when there is a real possibility things will get worse. It tends to illustrate how out of touch you are...