Writing at CNBC, Ben White, while trying to dismiss the significance of yesterday’s report showing that the economy actually shrank for the first fiscal quarter, still admitted that the economic outlook provided a bleak landscape for Democrats going into the 2014 elections.
It has not been a pleasant week for Democrats who hope that a strengthening economy will help them overcome other big electoral weaknesses and limit their losses in the 2014 midterm elections.
The biggest blow came Thursday with release of revised gross domestic product numbers showing the economy actually contracted 1 percent in the first quarter, the first decline since 2011.
Economists and the White House quickly (and correctly) downplayed the significance of the report given the impact of the brutal winter and the contribution from slowing inventory growth, which is likely to reverse in the second quarter.
Read the rest of the story at CNBC.