June 30, 2011

Obamas Second Quarter Report

As The Second Quarter Comes To A Close, Has Obama Spent The Last Three Months Focused On The Countrys Bottom Line Or His Own?
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OBAMAS FUNDRAISING MACHINE HAS ROARED TO LIFE AS THE 2ND QUARTER DEADLINE HITS
Obamas Campaign Has Roared To Life. The push comes as Obamas campaign has roared to life in recent weeks and strategists prepare for a summer of staff hirings and field office openings across key battleground states. (Peter Wallsten, Obama Pushing Behind Scenes To Win Over Big-Dollar Donors, The Washington Post, 6/27/11)

Including Tonights Fundraisers, Obama Has Attended 29 Fundraisers Since Announcing For Reelection. (Politico 44, Accessed 6/30/11)

Obama And The White House Are Working Feverishly Trying To Win Over Big-Dollar Donors. President Obama and top White House aides are waging a behind-the-scenes push to win over skeptical big-dollar donors whose early money is needed to help fund a dramatic summertime expansion of his battleground-state machinery. (Peter Wallsten, Obama Pushing Behind Scenes To Win Over Big-Dollar Donors, The Washington Post, 6/27/11)

BUT AMERICANS ARE STILL WAITING ON THE ECONOMY TO ROAR TO LIFE AFTER THEIR DISAPPOINTING SECOND QUARTER NUMBERS
Dismal Job Numbers
The Associated Press: Employers Added 54,000 Jobs In May, Fewest In 8 Months; Unemployment Rate Rose To 9.1 Pct.(Employers Added 54,000 Jobs In May, Fewest In 8 Months; Unemployment Rate Rose To 9.1 Pct. The Associated Press,
6/3/11)

MSNBCs Kristen Welker: Make No Mistake About It, These Numbers Are Dismal.(MSNBCs Daily Rundown,
6/3/11)

Rather Than Keeping Unemployment Below Eight Percent, The Unemployment Rate Has Remained Above Eight Percent For A Post-WWII Record 28 Straight Months. (Bureau Of Labor Statistics, BLS.gov, Accessed 6/3/11)
Since President Obamas $831 Billion Stimulus Bill Passed The Nation Has Lost 1.79 Million Jobs. (Bureau Of Labor
Statistics, BLS.gov, Accessed 6/3/11)

Since President Obamas $831 Billion Stimulus Bill Passed The Unemployment Rate Has Increased From 8.2 Percent To 9.1 Percent. (Bureau Of Labor Statistics, BLS.gov, Accessed 6/3/11)
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The Average Duration Of Unemployment Increased To A Record 39.7 Weeks. (Bureau Of Labor Statistics, BLS.gov,
Accessed 6/3/11)

Surprisingly Weak Economic Growth

The Third Estimate For First Quarter GDP Growth Remained At 1.9 Percent.(Press Release, Bureau Of Economic Analysis,
BEA.gov, 5/26/11)

The New York Times: The Grim Numbers Tell An Unavoidable Truth: The Economy Is Not Growing Nearly Fast Enough To Dent Unemployment.(Editorial, The Numbers Are Grim, The New York Times, 5/31/11)

The New York Times: The Surprisingly Weak Economic Growth Was Supposed To Prove Fleeting But Has Remained Stuck At Anemic Levels. A month ago, when an initial gauge of firstquarter economic growth came in surprisingly weak, many policy makers and economists expected the bad news to prove fleeting. But when revised data were released last week, the growth estimate remained stuck at an annual rate of 1.8 percent, compared with 3.1 percent at the end of last year.
(Editorial, The Numbers Are Grim, The New York Times, 5/31/11)

The World's Largest Economy May Be Facing A Growth Problem. The world's largest economy may be facing a growth problem. After a disappointing first quarter, economists largely predicted the U.S. recovery would ramp back up as short-term disruptions such as higher gas prices, bad weather and supply problems in Japan subsided. (Sara Murray And Jon Hilsenrath, Economists Downgrade Prospects For Growth, The Wall Street Journal, 5/31/11) Economic Forecasters Are Lowering Their Growth Projections For The Second Quarter. A growing number of forecasters are downgrading their second-quarter growth predictions. JPMorgan Chase & Co. economists revised down their estimate to a 2.5% rate from 3%, while Bank of America Merrill Lynch economists cut theirs to 2% from 2.8%. Deutsche Bank cut its forecast to 3.2% from 3.7%. (Sara Murray And Jon
Hilsenrath, Economists Downgrade Prospects For Growth, The Wall Street Journal, 5/31/11)

Falling Confidence Thanks To Downright Bad Economic News

If You're A U.S. Consumer, Why Would You Be Confident? (Anne DInnocenzio, Job Worries Hold Down Consumer
Confidence, The Associated Press, 6/29/11)

The Mood Among U.S. Consumers Dropped Again In June, According To A Report Released Tuesday.
(Kathleen Madigan, Consumer Confidence Drops, The Wall Street Journal, 6/28/11)

The Lowest Reading Since November 2010. The June reading is the lowest since November 2010 and was far worse than the 60.5 expected by economists surveyed by Dow Jones Newswires. (Kathleen
Madigan, Consumer Confidence Drops, The Wall Street Journal, 6/28/11)

The Plunge In Confidence Is Attributed To More Worries About Jobs And Wage And Follows A String Of Bad Economic News. Following a string of bad economic news, consumer confidence plunged in June to a seven-month low on continuing worries about high unemployment and stagnating wages, according to a report released Tuesday by the Conference Board, a private research group. Its Consumer Confidence Index slipped to 58.5 in June. (Anne DInnocenzio, Job Worries Hold Down Consumer Confidence, The Associated Press,
6/29/11)

Economists Had Expected Confidence To Increase But The Downright Bad Economic News Weighed On Consumers. Economists had expected the June figure to edge up to 61 as consumers faced lower prices at the pump and inflationary fears dissipated. But the fact that consumers are experiencing less pain at the pump has been overshadowed by other economic news that ranges from mildly encouraging to downright bad. (Anne DInnocenzio, Job Worries Hold Down Consumer Confidence, The Associated Press, 6/29/11) All Combining For Consistently Low Poll Numbers
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81 Percent Of Americans Say The Current Economic Condition Is Poor.(CNN/Opinion Research Corporation Poll, 1015
A, MoE 3%, 6/3-7/11)

62 Percent Of Americans Think The Country Is On The Wrong Track. (NBC News/Wall Street Journal Survey, 1000 A,
MoE 3.1%, 6/9-13/11)

Only 29 Percent Of Americans Think Were Heading In The Right Direction. (NBC News/Wall Street
Journal Survey, 1000 A, MoE 3.1%, 6/9-13/11)

57 Percent Of Americans Disapprove Of Obamas Handling Of The Economy.(Bloomberg News National Poll, 1000 A,
MoE 3.1%, 6/17-20/11)

57 Percent Of Americans Disapprove Of Obamas Job Performance When It Comes To Creating Jobs.(Bloomberg News National Poll, 1000 A, MoE 3.1%, 6/17-20/11) 44 Percent Of Americans Are Worse Off Than They Were When Obama Took Office, Another 21 Percent Are Only About The Same. (Bloomberg News National Poll, 1000 A, MoE 3.1%, 6/17-20/11)

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