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  • dby034 dby034 Jan 31, 2013 1:21 PM Flag

    Dem leader Reid: 'We are in a recovery'

     

    Senate Majority Leader Harry Reid (D-Nev.) on Thursday said the American economy is "in a recovery" despite the decline in the nation's gross domestic product (GDP).

    Reid made the remark after Senate Minority Leader Mitch McConnell (R-Ky.) blamed the White House for the unexpected contraction in the economy.

    “[McConnell] continues bad mouthing the recovery,” Reid said on the Senate floor. “We are in a recovery.”

    On Wednesday, the Commerce Department announced that the nation's economy unexpectedly shrank by 0.1 percent in the fourth quarter of 2012. Echoing the White House, Reid blamed the GOP's “austerity and brinkmanship” for the plunge.

    “Growth went down in the fourth quarter because of reduced government spending,” Reid said. “The economy was rejecting the austerity and brinkmanship.”

    The Hill

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