OH DEAR, OH DEAR, THIS WASN'T THE SCRIPT – AT 9:04 A.M. ET:  The American economy ended 2014 on a very down note.  Will someone please tell the president.  Well, maybe it's better not to tell him.  Children must have their fantasies.  From CNN:

The U.S. economy gained steam last year, but it closed out the year with a big disappointment, raising more questions about 2015.

America's economy grew only 2.6% in the final three months of the year, much lower than the estimate of 3.3%.

Overall for 2014, U.S. gross domestic product, the broadest measure of economic activity rose 2.4%. That's the highest mark in four years, according to the Commerce Department, but economist and policymakers want to see growth this year of a lot closer to 3%.

There are many signs the economic recovery is stronger. The U.S. had its best year of job growth since 1999 last year. The Federal Reserve ended its stimulus program in October, which is like taking off the training wheels. Consumer confidence levels hit their highest mark in 2014 since the recession began.

The disappointing growth at the end of the year comes on the heels of the economy's incredible 5% growth in the third quarter, which was the best since 2003.

COMMENT:  We knew that the administration's propaganda was too good to be true, and it was.  We applaud any progress, especially when that progress lifts up the average American.  But reports of progress must be guarded.  We're still in the woods.  Many new jobs are at a low level.  Wages are frozen.  Mr. Obama doesn't seem to notice.

January 30,  2015