The AP continues to mislead Americans on the state of the economy by Cherry picking data
that supports the narrative that the Obama economy is robust. They cite the Labor Department report that showed jobless claims for last week was at 274,000 which is near historic lows but gloss over contrary data. For example they declare that the economy shrank in the first quarter. However they attributed this data to temporary factors such as the weather and labor disputes and thus don’t reflect the reality of the economy’s strength.
To insulate the President against possible future slowdowns or contractions the AP has an excuse handy IE lower oil prices. They say that lower oil prices are causing oil companies to cut their investments in equipment which will negatively affect the economy. However lower oil prices are a Boon to the economy by adding discretionary spending to the consumer, which will spur economic growth. The AP attempt to use low oil prices as a detriment to the economy contradicts their coverage of the Bush years when high oil prices were looked at as bad for the economy.
The AP acknowledges that Americans have not ramped up spending despite the unemployment rate lowering to 5.4%. They seem peeved that people aren’t acting as they and economists feel they should be. The data that they use to make the case of a strong economy doesn’t tell the whole story. If they dug a little deeper they would have found that under Obama GDP growth has only been about 9.6% compared to the 30% under President Reagan.
The Obama economy has also produced less jobs than the amount of people receiving food stamps. In regards to that low unemployment rate, it is more the result of the lowest labor force participation rate since the 70’s than on strong job growth. The AP didn’t address these facts because they are more interested in playing the role of Propagandist than news service.