More bad news for economy and Obama; can he change the subject?
After how-many-months-and-billions-is-it-now of the economy and jobs being Job One for the Obama White House, the Commerce Department reported Friday morning that the economy's second-quarter growth for 2011 was only 1.3%.
Not good. Again.
Also, 2011's first-quarter growth, originally reported at 1.9%, was revised way down Friday to 0.4%.
Boy, this glum news combined with unemployment numbers going back up to 9.2% most recently could present real problems for a Democratic president if he was seeking reelection in 2012.
Oh, wait. Obama is.
He's been able to drown out repetitious news coverage of his fading poll approval and those crummy economic developments by stirring this never-ending midsummer fight with House Republicans over raising the debt ceiling from its current $14,293,000,000,000 limit.
Which had a firm deadline earlier this year, but Treasury Secretary Tim Geithner changed it to Tuesday. Which is really firm and this time the administration means it. Coincidentally perhaps, Social Security checks are scheduled to go out Wednesday.
But now the sagging economy will be back, dominating Friday's news all day. Unless something else, something seemingly important, happens. And quickly.
Obama should call some kind of news conference Friday morning to get the news media off of the still-rotten economy and back talking about those Republicans protecting the rich.
Oh, wait. He is. The president just scheduled another news conference to start shortly.
The transcript of that news statement is now right here. As usual.
-- Andrew Malcolm
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