to spin

[jctgf]

"The sky is falling, the sky is falling". Right Mr. Dion. Right Mr. Layton. This is good news. Why try to spin it in a negative way? Of course there are problems still. But panicking and hysteria are never the right answer.

Hi there,
I'd like to know, please, if the usage of "to spin" as it's presented in this context, i.g., "to try to interpret something in a biased way" is commonly used during informal conversations.
Thanks.

[Anglika]

"spin" here has the meaning: to present information in a way meant to influence public opinion. It is much used in relation to politics.