In the latest White House press release disguised as analysis at the Associated Press, aka the Administration's Press, AP stenographer Paul Wiseman sang the praises of this nation's "humming" job market and its "steadily rising" growth as the economy is "finally showing the vigor that Americans have long awaited." Wow.
Of course, the White House — er, Wiseman — never mentioned the following (to name just a few): two straight months (April and May) of real declines in consumer purchases; the seasonally adjusted decline of 523,000 in full-time employment paired with an increase of 799,000 part-time jobs in June; April’s and May's trade imbalance coming in worse than March’s, which was already very high; shipments of durable goods barely budging in April and May; factory orders falling in May; or May's flat construction spending. It got worse, as Wiseman concocted five reasons why the U.S. economy is a "world beater." Excerpts from Paul's pathetic prose follow the jump (bolds and numbered tags are mine):