First Draft: Spinning

January 30, 2009

WASHINGTON – Lots of spinning going on.

Morning TV shows had footage of a spinning shark twirling out of the water and a spinning small plane blown about by the wind upon landing. And sports fans looking forward to the spinning football at Sunday’s Super Bowl.

NBC touting a live interview with President Barack Obama at about 5 p.m. EST before kick-off on Sunday.USA-POLITICS/OBAMA

Obama saying Wall Street taking bonuses¬†while firms are being bailed out by taxpayer money is “the height of irresponsibility” and “shameful” is still making the rounds.

The U.S. economy contracted 3.8 percent in the fourth quarter, which was actually a smaller decline than the consensus expectation by economists for a 5.4 percent slip.

So is the GDP decline, the largest since the first quarter in 1982 — that’s almost 27 years — actually good news? Only the markets know.

Meanwhile, backat the White House, Obama expected to deliver remarks on a Middle Class Working Families Task Force and sign related executive orders later this morning.

Click here for more Reuters political coverage

Photo credit: Reuters/Jason Reed (Obama when presidential nominee holds up Pittsburgh Steelers football jersey)

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how long is it before mt rushmore gets added to the bail out plan ,i am leaving the details to our liberal friends the prospects are amazing ,can you imagine the revenue that could be generated as the faithful made the pilgrimage

Posted by brian lee | Report as abusive