By Axel Tonconogy

Stuart Varney’s Conspiracy Theory On GDP Growth Proves Democrats Correct

October 26, 2012 4:53 pm Category: Memo Pad 57 Comments A+ / A-

Today, Stuart Varney of Fox News tried to cook up a new conspiracy theory to discredit the 2 percent increase in the gross domestic product. Not only was his claim absurd and unfounded, but it also unwittingly endorsed the very policies he rails against.

In response to the report of a 2 percent rate of economic growth, which was stronger than expected, Varney found something to wag his finger at. “Dig deeper,” he said. “Look inside that report, and you see a big 9.6 percent jump in government spending. There is some suspicion that these numbers have been juiced by government spending deliberately in that quarter, in the report, right before the election.”

Varney also claimed that once the election was over, after they have presumably served their purpose, those numbers would be revised—and revised downwards.

But what Varney fails to note, in his kneejerk reaction to call foul, is that he essentially proved the argument that government spending can boost the GDP—which runs counter to everything Fox News, the GOP, and Varney himself have argued against since Obama took office. For the Republican Party, which has run on a platform of slashing government spending—excluding defense, where it hopes to add an additional $2 trillion—the economic reality appears inconvenient.

As Media Matters notes:

The increase in government spending during the third quarter marked the first quarter in two years when government spending increased. But the rate of increase was not unprecedented, undermining Varney’s effort to make this an election year conspiracy. Spending by the federal government jumped by 9.6 percent during the third quarter, driven primarily by increased defense spending. Federal spending increased at a similar rate during the final three months of 2008 and during the second quarter of 2010. Federal spending increased by 13.7 percent during the second quarter of 2009.

Increased defense spending is exactly what the Romney/Ryan ticket has prescribed—and what constitutes most of the boost in government spending in this third quarter—but to Varney, this is evidence that the Obama campaign has “juiced the numbers” right before the election.

Stuart Varney’s Conspiracy Theory On GDP Growth Proves Democrats Correct Reviewed by on . Today, Stuart Varney of Fox News tried to cook up a new conspiracy theory to discredit the 2 percent increase in the gross domestic product. Not only was his cl Today, Stuart Varney of Fox News tried to cook up a new conspiracy theory to discredit the 2 percent increase in the gross domestic product. Not only was his cl Rating:

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Comments

  • nobsartist

    Isnt varney a socialist?

    • DukeDacat

      No, he is aFaux Noise Idiot…….

  • http://www.facebook.com/people/Don-Ramsey/100001577804530 Don Ramsey

    These GOPers must really hate it when facts get in the way of their authoritative statements.

    • http://pulse.yahoo.com/_2XQAUUZDVBGZWAL6KWKI3J56LI Blaze Stryker

      They never notice.

      It’s not like that understand what a fact is, after all..

      • adler56

        they’re just like scientific theories- things like gravity and all.

  • TZToronto

    How consistent are these people? If it’s good news about the economy–or anything else–then it’s an Obama White House conspiracy. If it’s bad news about the economy–or anything else–it’s the Obama White House incompetence. For these faux news people, like Varney, Obama and his friends spend all their time cooking up scandals to fool the electorate into voting for the Democratic scheme machine. . . . Why didn’t we hear similar stories about Dubya’s incompetence and the scheming of his spidery inner circle from 2001 to January, 2009? Why no accusations of conspiracy or incompetence? Why only, “We must follow the Commander in Chief?” Oh, there actually were such accusations, but they came from neither Fox nor the other mainstream media. Michael Moore, for one, sounded the alarm, but nobody in the media outlets that matter came on board to persistently question those in power.

    • nobsartist

      conspiracy + incompetence = republiKKKons

    • darkagesbegin

      I listened to Rush during those years, and he assured me that everything that went wrong in the Bush years–absolutely everything–was Clinton’s fault, until it became apparent that Obama was going to be elected–then it was Obama’s fault. Of course, if anything did go right for Bush, it was because of his republican policies.

  • http://www.facebook.com/erdmanwest Erdman West III

    ATTENTION COLIN POWELL REPUBLICANS: If you want a Real Republican president PLEASE PLEASE wait four years and nominate a genuine Republican candidate. As General Powell has realized Romney/Ryan would be a Corporate dictatorial DISASTER for America!

    • nobsartist

      news flash:

      there are none.

    • PeedroPaula

      I might have voted for him if he had run in ’96, but he’s too smart to even consider it now.

  • Gord

    Minutes apart in the same debate, Romney suggested that , “Government can’t create jobs” followed by, “As President, I will create 12 million jobs.” There was a term for that kind of mind in the reason and logic courses I took years ago in university; That term was Moron.

    • nobsartist

      big talk for a felon that only created 1,314 jobs yet transferred 100 million in pensions to be paid for by taxpayers thru the “pension guarantee fund”/

      you good republiCON tax payers should love paying for those retirements.

    • adler56

      The DNC needs to spend the last few days playing nothing but the clip of williard telling us the President can’t create jobs but as president he will create 12 million jobs- is it his magic underwear that make him think he can do magic? He wouldn’t create 12 million jobs if he could- too many of the 47% would be helped.

    • Melvin Chatman

      NOPE!!
      The new term is: “SHAPE SHIFTER”
      Please note in future editorials – THX!!

      • Gord

        Mendastication: To lie through one’s teeth.

        That one’s on me. Fill your boots.

        Gord

        • PeedroPaula

          I definitely have to share that one!

    • dalnb

      In 2008 FOX TV ran several sessions stating the President 0(Bush at that time) has no control over the prices of gasand fuel; could it be Obama does have more power than Bush id? They sure changed their stories this year. Just another point showing how unreliable the FOX team can be (IS).

    • http://pulse.yahoo.com/_KOPKDFAUQPIIRAFI3HEXNMSHLQ Ed

      It also ignores the fact that the predictions are that 12 million jobs will be created by the economy regardless of whom is president. Which means Romney is not going to do anything to create jobs.

    • tobewan

      Old Adage: Figures don’t lie, but liers DO figure!!! Like Varney.
      Also, GORD has it right about Romney, showing Romney talks out of both sides of his mouth. As Indians would call it – Speaks with forked tongue.

  • nobsartist

    The October surprise is ObamaCare offering government sponsored health insurance.

    Just announced today.

    Bye, Bye for profit health care.

    • http://pulse.yahoo.com/_KOPKDFAUQPIIRAFI3HEXNMSHLQ Ed

      One could only wish, but Oboma agreed with the repubs in the name of “bipartisanship”.

  • http://www.facebook.com/dominick.vila.1 Dominick Vila

    Varney also ignored Mitt Romney’s promise to restore the $716B in MEDICARE spending and all the DoD programs that have been cancelled with the concurrence of the Joint Chiefs of Staff. Claiming to be in favor of spending reductions while promising to increase spending is something that only an idiot can endorse.

  • adler56

    another pasty faced old white guy who hates America and Americans ( but especially black ones who live in the White House)

  • dalnb

    You can not lie about everything and expect to not get crossed up somewhere!

    The GOP has, through FOX radio and TV media, been saturating the airways for the past four years with manipulated information, twisted facts, and falsifications in an organized effort to create failure in the White House, create mistrust in our government, cause hate and discontent, and generally perpetuate the appearance that the Obama Administration is incapable of fixing the mess Bush left us in. While FOX was busy doing their part Republican leaders were doing everything they could to see that everything the Obama Administration attempted that may get us out of the mess was blocked. It would have been counterproductive to allow any “Fix America” efforts to be successful as an Obama Administration success would get America back on track and thwart the Republicans Mission of Failure!

    These are the same tactics used in Pre-World War II Germany and in Viet Nam to overthrow established governments! Karl Rove and Mitch McConnell have mastered the technique and rather than helping “Fix Americas” problems they have continued to see America suffer preferring to achieve Republican Party dominance rather than see America recover from problems they were both a big part in creating.

    • http://pulse.yahoo.com/_KOPKDFAUQPIIRAFI3HEXNMSHLQ Ed

      They don’t want to see America suffer; they want America GONE. Replaced by a Corporation, with slaves.

  • dalnb

    Obama = Of the people For The People!
    Romney- Of the Wealthy For The Wealthy!

  • dalnb

    A vote for any Republican or Democrat that has in anyway supported or advanced the GOPs “Mission of Failure” is an endorsement for the Un-American efforts of Republican Senator Mitch McConnell and Karl Roves (G W Bush’s political advisor and The Republican Master mind behind the “Anti-American Mission of Failure”) efforts to see America does not recover from the mess left by Bush. Their efforts have been to ensure the Obama Administration fails!

    No person has been elected and sent to Washington to create failure; their duty, what they are paid to do, is to manage Americas interests ensuring the best for ALL Americans, not create failure in order to achieve party dominance as Senator McConnell stated as thier primary goal.

    Without the Republicans Mission of Failure Ameria would be well on its way to National recovery!

    • http://pulse.yahoo.com/_KOPKDFAUQPIIRAFI3HEXNMSHLQ Ed

      AMEN, AMEN

    • http://profile.yahoo.com/HFYZP2APYPP7H6PWS2ZDQRWFEQ Hillbilly

      You can add the Koch brothers to that gang whose mission was to see President Obama was a one term President no matter how it hurt the Country. I read a interview between the two oil Koch Brothers and I believe a Christian Science Monitor reporter( not sure about who was doing the interviewing). In the interview the Koch brothers stated they started forming their plans to make President Obama a one term President the day after he won the election. He hadn’t took the oath of office and they were already plotting against him. I think McConnell, Bohmner, Rove, the Republican members of Congress and the Koch brothers should be charged with forming a conspricy (not spelled right)against the President and the Country and put on trial for trying to destroy the USA just to make themselves and other rich people richer

  • http://pulse.yahoo.com/_KOPKDFAUQPIIRAFI3HEXNMSHLQ Ed

    Logic and reason have no place in the Fox news empire, founded by a foolreigner to direct the course of American polotics.

  • http://profile.yahoo.com/JMT6C3LHLJDD4RX4NB4KY5ICAE gargray

    GOP is grasping at straws, couldn’t see the truth or tell the truth, put a bucket over their heads, at least you couldn’t hear them.

  • http://profile.yahoo.com/QZOLTTTPLTLGELEYLKM7HUJPSU Davekzy1

    Mitt stated him self fact checkers wouldn’t dictate his campaign! Its all lies!

  • http://www.facebook.com/people/Maggie-Schafer/100002158682321 Maggie Schafer

    Whoops! Another gaffe – they can’t keep anything straight and hate being called on it!

  • Jack Wormer

    Ever noticed a genuinely Happy and joyful conservative or Teabagger countenance on TV, in print, or in person?

    • CAThinker

      No – and I don’t think you ever will… if they’re not hatching plots to scare everybody, they’re worried and scared themselves… all the while enriching themselves at our expense… They need a boogeyman, so I wonder what the next boogeyman will be…

  • lexi001

    Be nice guy’s, you know how these article’s disturb the right and drive them to madness. Not that most of them aren’t mad to begin with, but then there is always full-blown insanity.

  • dalnb

    A vote for any Republican or Democrat that has in anyway supported or advanced the GOPs “Mission of Failure” is an endorsement for the Un-American efforts of Republican Senator Mitch McConnell and Karl Roves “Mission of Failure” efforts to see America does not recover from the mess left by Bush. Their efforts have been to ensure the Obama Administration fails!

  • http://twitter.com/rfsilver123 Ron Silver

    His reaction is a sign of desparation. They will loose.

  • http://twitter.com/rfsilver123 Ron Silver

    Romney is really a moderate who ties himself to the GOP’s apron strings. Unfortunately, the new GOP is an extremist party. He’s stuck. If he is elected, they will expect his loyalty and who knows?

  • http://profile.yahoo.com/GCXB2EABXANRR2IK7QHS3TAPOU ROBERT C HASTINGS

    Like a true Republican of today, he doesn’t let the facts get in the way of his opinion.

  • alumahead

    Hypocrisy within Fox News and the GOP. Who knew?

  • onedonewong

    Great idea increase govt spending and the debt. Who is on the hook to pay it back?? Certainly not the 51% who pay no taxes and is the Dem base

    • Justin Napolitano

      Maybe you are one of the so called 51%? The last time I checked it was the 47% so now you upped it by 4%, right? Did you happen to notice that it was Military spending that was up? Did you happen to notice that that is what Romney is advocating? Why aren’t you complaining about increased military spending running up the deficit? Why are you selective about spending? Why are you a right wing hack getting paid for your posts?
      I doubt you will ever pay one dime of the deficit back because you will be far to busy counting your tax cut to even care. Oh, and don’t depend on reduced government spending because Romney knows that that would cause a recession.
      How does it feel to be a Romney dupe?

      • onedonewong

        The reason why it is up is thanks to barak’s economy policies that now has 23 million americans unemployed and 45 million on foodstamps.
        Selective about spending no under FDR transfer payments during the recession was 28% of the federal budget and now under barak its 68%. As for govt spending its enshrined in the constitution to provide for national defense and promote the general welfare

      • CAThinker

        Justin – this guy is part of the second wave of Talipublican hacks (Obozo was in the first)… He never makes any sense… but he doesn’t have to – he gets paid for every post, so he runs up the drivel regardless of content. The best way to deal with him is to shun/ignore him and leave his witless ranting to the winds. This guy is truly one of the right-wing morons…

    • http://profile.yahoo.com/ZEDCQ4URHFFCKH5THB4DT3G54M Brian

      You really are a sick racist. Apparently, you really do not have a life and so you hang around a liberal, Democratic blog site and spout yor bile. If you are off your meds, get back on them and get a real life.

      • onedonewong

        that’s an oxymoron liberal and democratic

    • ralphkr

      The major problem with your statement, onedonewong, is that a majority of those who pay no taxes are REPUBLICANS (Retired veterans and SS recipients) and only in the distorted brains of Republican candidates are they the Democratic base. The second group that pay almost no taxes (multimillionaires and big business) are also Republican supporters for the most part.

      • onedonewong

        Retired Vets pay taxes they aren’t exempt if you had ever defend this country you would know that. As for SS recipients some pay taxes just the illegals that draw the benefits don’t.
        Its the Dem base that are on the govt teat and have been all their lives. That’s why barak has doubled the number on food stamps and eliminate the work requirement for welfare and food stamps.
        The next largest group not paying taxes are those companies that barak has shipped jobs to overseas…Toyoda, Nissan, China steel companies. Coupled with obama motors also know as GM and Chrysler

        • ralphkr

          Well, onedonewong, you have once again proven how ignorant you are of the United States. By the way, I trained as a sniper in the US Army Reserves and did a hitch in the USAF. I have helped retired Vets with their tax returns and they only paid Fed Income tax if they had civilian income that triggers a tax. I see that you are calling almost ALL of the SS recipients illegals that I know even though they were all born in the US. I have also helped out at the Senior Center and I can assure you that SS benefits are tax free unless you have considerable income from other sources and then SOME of the SS MAY be taxable unlike my own disability pension which is 100% taxable because it is over $5K per annum.

          I would also point out that it is pretty hard for illegals to draw SS benefits since they do NOT have SS numbers. For many years illegals had taxes withheld but could not file for refunds because most of them used the fake SS number that came in the wallet they bought at the dime store but now they are allowed to get a TIN number (just like GE & other businesses) so they can file for refunds. Oh yeah, work requirement has NOT been eliminated by the Feds except in certain states (some are Republican) that have a program that may work better than the Feds. Romney tried to get an exemption when he was governor.

          I would like to point out that Toyota, Nissan, Honda are Japanese companies with factories in the US so they have shipped jobs TO the US. Companies such as Ford, GM, and Chrysler are US based companies that have been importing completed cars or components of their US assembled cars from all over the world for many decades (long before Obama was even born). I remember doing an accident report in 1968 on a US Marine Chevy Stepvan (what is more American than that?) that included a section to list parts source. The entire drive train, steering gear, suspension, and instrument panel came from foreign countries and it appeared that only the body came from the US. Among those companies that pay little or no Fed income tax is GE which has paid less than 3% tax for the last TEN years. GE had a US profit of $81+ Billion and paid $1.9- Billion in taxes (2.3%) and they are trying to get some of that refunded. I suggest that you do some fact checking instead of just swallowing the TEA Party, Faux News, conservative BS.

          • onedonewong

            Ralaphie all I can say is your a FOOOOL. If you think that you helped these guys with their taxes all you did was help them to be audited.

            No I’m calling the SS recipients who aren’t paying taxes illegals like baraks auntie. Its obvious from your first 2 statements that you are TOTALLY clueless about tax law and how it pertains to the taxpayers. Its painful for me to read your utter rubbish

            Th dems under Bill Clinton passed laws that allow illegals to not only draw SS but for EVERY SS number they claimed to have paid on with 0 documentation. A far far better deal than those who are citizens. But as usual your clueless. Work requirements were eliminated under barak and even the CBO has said the same and no Romney didn’t request a waiver since it only started in 2009.

            7 out 0f every 10 vehicles that Chevy produces now as obammotors are made in countries other than the US. So why didn’t all the other countries help in the bailout??? As for your statement that the 1968 parts came for foreign countries I call bullshit. Those drive trains were Allison and were made in the US, instrument panel possibly.

            The taxpayers receive NO benefit from Toyoda and Nissan’s produced in this country since they are paying Japan $7500 for every “green” car they ship to the US. Think Japan is paying the US car companies $7500 to ship cars there???

            Want to estimate the amount of taxes that Toyoda and Nissan and Hundai and Kia paid last year??? Less than $20 million with the US taxpayers on the hook for the pensions of the Toyoda plant that they closed on CA .

            You see Ralphie your line of BS passes on this site because your dealing with morons. Unfortunately for you your no match for my IQ and facts. Go play in a sandbox more on your level

          • ralphkr

            My, my, onedungwong, you just insist upon exposing the depth of your ignorance. No tax returns that I have done in over 5 decades have ever been audited. The closest thing to an audit was when the automated payment system withdrew an additional $519 from my account and it took me 7 months to get that overpayment to be credited to my next year’s ES taxes because the IRS was suspicious as to why I had given them too much money.

            Speaking of utter rubbish…that perfectly describes your statement about SS. NO SS benefits are taxable until income exceeds $25K (single) or $32K (married) at which point up to 50% of SS may be taxable and if it exceeds $34K (single) or $44K (married) up to 85% of SS may be taxable. The income used to calculate the tax trigger is a combination of AGI, half of SS, and non-taxable interest. As you can see, one has to have considerable income outside of SS to have to pay Fed income. Well, I should have said that if you had any sense you would be able to see. Veteran disability pensions are generally not taxable plus most veteran pensions are small enough not to trigger fed taxes unless they have outside income.

            Federal work/welfare requirements were instituted in 1996 and are still in effect.

            Tell it to the Marines, onedungwong, that they don’t have a clue as to where their vehicle parts originated. By the way, the drive train includes Engine, transmission (not Allison in this case but stick shift), U-joints, drive shaft, differential. I no longer recall exactly which parts came from which country but I do recall, Mexico, Canada, Australia, Great Britain, Italy, and various South American and Asian countries listed as sources for all the mechanical parts on the vehicle. Once again you have committed a Romney (opened mouth, inserted foot).

            That Toyota plant in CA that closed was originally a GM/Toyota plant and was forced to shut down after GM pulled out. The US does not pay Japanese companies $7,500 for each green car but does pay US purchasers up $7,500 for SOME green cars that they buy and that includes green cars built in the US and Europe. The payment varies according to whether hybrid, full electric, and how many have been sold.

            And you are correct that I am dealing with morons and you are first in line. By the way, my IQ tested at well over 150 about six decades ago so you are correct that I am no match for your IQ of 70 (and that is giving you the benefit of doubt)

          • onedonewong

            Considerable income $35,000 a year….SS + a part time job at McDonalds meets that hurtle.

            Work requirements for Welfare and food stamps were in place until 2011 when Barak by fiat eliminated them

            Sorry Ralphie I work for an auto company for 30+ years so I do know who manufactured what parts. Your memory must be distorted from all the booze you’ve consumed over the years. Your picture confirms it.
            The CA plant closed as a joint venture but Toyoda ran it independently for a year before they dumped the plant’s pensions on the US taxpayers..

            As for the $7500 its a distinction without a difference. With out the $7500 no one would buy them and it generates 0 jobs for this country.

            IQ over 150 a trained sniper as a reservists and and AF general…once again I call bullllshit

          • ralphkr

            Outside of my modest pension (based upon my official $25K salary) all of my income comes from investments since the 80s so I am able to tell if there was a Republican or a Democratic president merely by noting how my income changed. Down by $6K G.H.W.Bush, up by $80K Clinton, down by $37K G.W.Bush, slightly up in 2011 ($12K) after 2 years of loss during the recovery from Republican rule so I am very used to paying taxes. When I was in the USAF I paid both Fed and State income taxes on my $1,800 pay, the top tax rate was far higher than 50% while unemployment was under 4%. Compare that to how the Republicans were able to reduce the top rate to 35% (which no one pays) and thereby boost(?) the economy and achieve 8%+ unemployment. (that is sarcasm, sonny)

            Federal work requirements for welfare are still in effect except in the few states that have instituted stricter requirements and have gotten a waiver. Anyone stating otherwise has pants on fire.

            You may have worked for an auto company for over 3 decades but you obviously have no idea where the factories sourced their parts since US companies have been purchasing from the lowest bidder since at least the early 60s which means that much of the content comes from other countries. Well, not from Germany or Japan since their costs are higher than ours. Check out parts for a Mercedes Sprinter sometime if you don’t believe that.

            What makes you think no one would buy a hybrid without a $7,500 rebate? I bought a Honda V6 hybrid because it was the most powerful car I could find under $60K that had a comfortable seat and good legroom. We all have our own priorities and mine happens to be performance. I did get $250 off my income tax for buying that hybrid that cost $2K more than the much less powerful standard V6.

            What don’t you believe? That there was such a thing as an Army Reserve in the 1950s or that I jumped the fence and went active duty as an enlisted man in the USAF in the 50s? I do realize that my family choice of military job is highly suspect since my father was a machine gunner in WW1 and I was a sniper after Korea and both jobs had one thing in common. Anytime a machine gun or sniper opens up the other side replies with artillery which I always thought was d–n unfair. As usual, you had to add a lie in an attempt to denigrate me by saying that I was an AF General. Perhaps you Googled my great-uncle who was an Army General but I was never commissioned and all I ever said was that I was in the USAF. The last word in your last sentence is an excellent characterization of your statements.

  • tobewan

    Hey, just refer to it as ‘Profit-care’ Its just what R & R want, and America would be sadder for.
    directed to NOBSARTIST (1 day ago)

  • Chris Bailey

    Varney has to have some background in economics, which means he is stating an OUTRIGHT LIE saying that it is some sort of “conspiracy”. Government spending is required to grow an economy in or near recession, it’s a beginning macroeconomics FACT.

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