The Obama Media Campaign continues.

In recent weeks there has been a spate of bad economic news. Growth in GDP has been anemic and below expectations. New unemployment claims have risen on a consistent basis to levels not seen since last fall. Unemployment has risen and is likely to go higher. Home sales have produced figures that were strikingly poor. So what is the answer of the mainstream media? Simple: the media is now looking for and announcing things in the data that indicate that the future recovery will be better than expected. A good example is a piece in the Los Angeles Times called "Positive Signs in Anemic US Recovery". You can view the article by clicking on the title to this post.

The truth is that the article is unintentionally humorous. The reporters in this "news" piece say that lower consumer spending may be slowing economic growth, but it is leading to people saving more and paying down their debt to more manageable levels. Banks are also not lending as easily to folks seeking loans, so this will reduce the risk of bad loans. Even though Obama took repeated steps that were supposed to increase bank lending so as to help the economy, the article says that the reduced lending is due to government action. (In other words, if the Obama efforts led to increased lending it would be good, but if those efforts fail it is also good.) The article also points out the debacle in the housing industry and the huge number of foreclosed properties that have to sold off to restore growth to the economy. According to the authors, the total failure of the Obama programs to keep people in their homes will help the economy since it will let the overhang of foreclosed properties be sold off sooner that otherwise would be the case. The reporters also point to the battle in Washington about cutting federal spending as a good thing for the economy since it will result in a lower federal deficit in the future. Of course, they credit that battle to Obama, even though he is the one who has fought against it the strongest. There's more, but you get the picture.

So, here is the final view of the authors: Obama is doing well for the economy since he has put in place programs to help that have failed. Each of those failures has done much to make the future recovery stronger when it comes. Indeed, the actions by the Republicans to try to correct the worst spending excesses of Obama will help according to the reporters, but the credit for all that goes to Obama.

Hopefully, you can see the humor in this. Of course, for those out there who still trust the media, it is not humorous, just sad.