Today the Obama Administration drastically lowered its already dismal estimate of first quarter GDP. At the end of April, the Commerce Department claimed the GDP fell at a 1.0 percent pace. The agency has now revised that to a 2.9 percent annual rate, which is the economy’s worst performance in five years.

In the heady days of -1.0% growth, Democrats blamed the bad numbers on an unusually cold winter, but maintained there was one bright spot. The only reason the number wasn’t worse, they claimed, was because healthcare spending had drastically increased. Ignoring that Obama promised his health care reform would “bend the cost curve down,” the left praised the jump in spending — Obamacare saved the economy!

Today’s revision shows that healthcare spending actually dropped along with everything else. In a bad economy, no one wants to spend money on anything. But to our non-partisan press, yesterday’s spin is ancient history; what’s important is protecting the president today.