Drive-Bys Celebrate Distorted GDP Number

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RUSH: There is also dramatically misleading economic news out there today. How many of you believe that the U.S. gross domestic product plunged 32.9% last quarter? (interruption) You read that? (interruption) You read that the U.S. GDP plunged 32.9% in the last quarter? (interruption) Well, except that’s not true; 32.9% is the “annualized” number.

If the economy performed that way for 12 consecutive months, that’s what the plunge would be. It is a purposeful misleading of the data. NBC is a great example. They bury the truth in a paragraph way down: “32.9% annualized.” Now, how many people in NBC’s audience understand the impact of that word? It didn’t drop that much in one quarter. Don’t misunderstand. It’s not great, but it didn’t plunge 32.9% in one quarter.

This is a purposeful misrepresentation to make it as bad as possible. It’s the same thing they’re doing with COVID-19 cases that they’re announcing. They want you to consider every case is an ultimate death, which is why the average American thinks that there have been 30 million COVID deaths in America so far when the number is 150,000 plus.

BREAK TRANSCRIPT

RUSH: Do you want to hear the joy in the voices of the Drive-By Media on CNN as they announce this record-breaking, devastating GDP? They’re happy about it! They’re happy about it, ’cause they think it’s another nail in the coffin of the Trumpster.

ANNOUNCER: (dramatic music/sound effects) This is CNN Breaking News!

BERMAN: All right, we do have major breaking news! An historic and record-breaking plunge in the U.S. economy in the second quarter, all from the pandemic! CNN correspondent and anchor Julia Chatterley joins us now with the breaking numbers — 32.9%, Julia!

RUSH: Wow.

BERMAN: …32.9% contraction!

RUSH: Wow.

BERMAN: That is by far —

RUSH: Oh.

BERMAN: — the largest on record!

RUSH: Oh.

CHATTERLEY: (breathlessly) Record-breaking and devastating!

RUSH: “Oh, be still my beating heart! Be still my pulsating groin! Oh, my goodness, 32.9%!” Except it wasn’t 32.9% in one quarter. That is an annualized number. It’s purposely being distorted — and again, I’m telling you, it’s not good. Don’t misunderstand me. But they’re lying to you and they’re happy about it. Proving once again: Whatever’s good for America is bad for the Democrats. Whatever’s bad for Democrats is good for America.

Speaking of happiness, did you see how happy the Drive-Bys were when they learned that Louie Gohmert had tested positive? They were overjoyed that Louie got it, ’cause Louie wasn’t wearing a mask. Oh, that’s all kinds of good for them — and then they said that Louie showed up at the Judiciary Committee hearing knowing that he had testified positive. It’s an outright lie. Louie wasn’t tested positive ’til after those hearings when he went to the White House.

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