White House sees 'positive' GDP figure, says more needed

White House sees 'positive' GDP figure, says more needed
VINEYARD HAVEN, Massachusetts — The White House said Friday the latest US Economic Growth data represented "positive news" but that the lowered estimates mean more work is needed to keep the recovery on track. "Four consecutive quarters of Economic Growth is positive news, but the revised numbers mean there is still much more we need to do to continue on the path to recovery and that remains the focus of the president and the Economic team every single day," said a senior administration...

2nd Quarter GDP Revised Down To 1.6%
Quietly noted in The Economy section of the New York Times : U.S. Economy Slowed to 1.6% Pace in 2nd Quarter By MOTOKO RICH August 27, 2010 Economic statistics released Friday offered the clearest sign yet that the recovery, already acknowledged to be sauntering, had slowed to a crawl. The government lowered its estimate of Economic Growth in the second quarter to an annual rate of 1.6 percent, after originally reporting last month that Growth in the April-June period was 2.4 percent...

Democrats Face Economic Facts: Updraft Unlikely
WASHINGTONThe string of bad news about housing, employment and Economic Growth has led Democrats to an inescapable conclusion: The Economy is not likely to improve in time to help them in the fall Elections. Congressional Democrats and the White House will continue their attempts to enact policies they believe will boost the economyand which are also aimed at persuading voters they are working to make things better. But some officials acknowledge it is too late for these initiatives to...

Don't count Hillary Clinton out of another run for White House
Here’s a prediction you better not try to take to the bank. It’s just a feeling, but if Barack Obama skids too much in the popularity polls the next two years, he’s going to find a way to gracefully retire Joe Biden and sign up Hillary Clinton. Obama is a pragmatic politician and Clinton would give him a positive jolt, helping unite the dysfunctional Democratic party, which seems to be pulling in several different directions. The Far Left feels Obama’s war policy in the...

US Fed chief vows tough steps as recovery slows
But Ben Bernanke, the Central Bank chairman, said prospects for a pick up in Economic expansion in 2011 appeared to remain despite the sharp government cutback Friday in Economic Growth to 1.6 percent in the April-June period. The Growth revision by more than half from the 3.7 percent in the first quarter came on the heels of a massive Trade Deficit and weak private inventory investment, signaling a more pronounced slowdown in recovery from Recession. The White House acknowledged Friday the...

2nd quarter GDP estimate cut to 1.6%
No big surprise this morning with the release of the "first revision" of the Commerce Department's estimate of annualized growth in gross domestic product for the second quarter of 2010: 1.6 percent. The expert consensus had expected slightly worse. In July, the GDP had been calculated at a disappointing 2.4 percent though one observer labeled it a "decent report."  The revision today showing reduced momentum was based on weaker numbers than previously estimated - "a sharp acceleration...

GDP at 1.6%, Pres. Obama Goes on Bike Ride
EDGARTOWN, Mass. — President Barack Obama biked and golfed under a brilliant New England sun Friday, yet he couldn't escape the cascade of dour news on The Economy as his vacation neared its end.   The Commerce Department reported The Economy grew at a much slower pace this spring than previously estimated, a mere 1.6 percent. That followed reports earlier in the week on badly slumping Home Sales and tapering business spending on manufactured items.   Obama has conferred with...

GDP Revised Down -- Conservative Trade Policies Exporting Our Growth And Jobs
This Post originally appeared at Campaign for America's Future (CAF) at their Blog for OurFuture as part of the Making It In America project. I am a Fellow with CAF. When we pack up a factory here -- and all of its jobs and supply chain and its support/.maintenance structure -- and send it all over there to a country that doesn't have the wage and safety and environmental protections we have, just to save a bit of money today we are also sending them the ability to make money in...

Is President Obama a leader?
If President Obama has a big economic initiative up his sleeve, as he hinted recently, now would be a good time to let the rest of us in on it. News on Friday confirmed that The Economy was far weaker in the second quarter than originally believed, growing at 1.6 percent versus an initial reading of 2.4 percent. Grim reports on housing sales indicate that the slowdown has continued. In a normal Recession, housing would lead the way up from the depths. Today, it appears to be leading the way...

White House press pool
Lousy is a Heinous Democratic Party who uses the Race Card against people with opposing Views. Lousy is a Corrupt Government who is unfeeling towards the people still suffering from 9/11 and allows a Victory Mosque built for 19 hijackers. What a Trophy they will have to show off to other countries. August 27, 2010 at 10:46 pm

Election '12: Take back the victory mosque, formerly known as the White House
Bill Kelly’s Truth Squad is all about truth, justice, and all things America. Whether through humor or parody, or in just the facts, we are taking the side of those who have been continually shut out by the Mainstream Media. The Media seek to justify this position of dishonesty by perpetuating a storyline of Bigotry and prejudice; that those that oppose their thinking are backwards, illiterate, stupid, hateful, and dangerous. This has been the case from the beginning of the Obama...

White House already on a hunt to replace Souter
White House already on a hunt to replace Souter - LEADERSHIP CULTIVATION LEADERSHIP CULTIVATION Providing political insight consistently ahead of the curve. « Obama: Stamp out Credit Card 'abuses' |

White House Adviser Summers Hopes History Forgets This Great Recession
With the U.S. economy apparently headed for another rough patch, the Obama Administration faces a growing chorus of complaint and opposition. Just this past week, House Minority Leader John Boehner called for Larry Summers and Timothy Geithner , Obama's top economics advisors, to resign. While Geithner is fairly well-known to the General public, Summers is not. Who is this insider who helps President Obama call the macroeconomic shots? By most accounts, White House economic adviser Larry...

Latest White House Press Pool Report
After nearly 6 hrs at the private beach in Edgartown, potus and family arrived back at the farm at 5:16 pm. Pool didn't get a glimpse of the First Family. Memorable quote of the day came from member of the Press Pool, in reference to our lunch. "Lobster roll was the highlight, really."

White House Pushes #SaluteTroops On Twitter
The push followed a series of moves earlier in the day by House Minority Leader John Boehner (R-Ohio), who previewed an upcoming Speech he’ll give on the Iraq War by releasing an op-ed and Web video that slam Democrats for “seeking credit” for the end of the combat phase in Iraq. “With all due respect to them, our Troops who have served so courageously in Iraq deserve the credit for the success of the Surge and, along with the Iraqi people, the turnaround in Iraq,”...

Top 10 Things Overheard in the White House During Obama's First Term
7. “I’m not sure a Che Guevara wall flag in the Oval Office is a good idea, Mr. President.” 6. “Heads, we take over the Auto Industry. Tails, we nationalize the Oil Industry.” 5. “Apology list: Iraq - check . Saudi Arabia - check . Palestine - check . Syria…” 4. “Canada’s Health Care system is a perpetual money-sucking vortex that has resulted in bloated Bureaucracy, demanding unions, longer wait times, and a...

GROWTH RATES AND POVERTY RATES
To his credit, Senator Mar Roxas was correct when he said that government claims about Economic Growth are just like pie in the sky, if the benefits of the Growth would not trickle down to the broader masses of the people. Perhaps Mar should explain this better though, since trickle down Economics has been debunked by many Economists. Economists would argue that the gross domestic product (GDP) and the Poverty rates are two independent measures that are not exactly directly related...

Book Review: 5 Steps To Freedom
Tags: 5 Steps To Freedom , Alan Greenspan , Big Brother , Capital gains , Capitalism , cash flow , Constitution , consumption , Corporate taxes , create your own currency , cumulative taxation , currency , currency debasement , cut dependence on Institutions , dollar , Economic freedom , Economic Growth , Economics , effective Tax burden , Federal Reserve , FI , Financial freedom , Financial Institutions , Financial intelligence , Financial Slavery , free enterprise , ...

John Boehner Takes on White House Over Economy
The war of words on the economy escalated today as Vice President Joe Biden dueled with House Minority Leader John Boehner , who earlier today called for the Resignation of President Obama 's Economic team. '); } It's "very constructive advice and we thank the Leader for that," Biden said sarcastically to muted laughter. "For eight years before we arrived in the West Wing, Mr. Boehner and his party ran economy and the Middle Class literally into the ground." "Mr. Boehner is nostalgic...

Does It Really Matter if the Republicans Take Back the House?
Its late August in an even numbered year, which means that its about time for all of us to get election fever again. I usually love this stuff. I remember 2006, when the Democrats pulled off a mild surprise by taking back control of Congress. Sitting in front of my computer in the living room, I squealed with delight as Jim Webb put on a late surge to capture what should have been George Allens Senate seat. That was the race that cemented the Democrats’ salvific triumph. And who...

The Struggling Class " The emergence of consistent poverty. How the other half live financially. 40 million Americans on food assistance and large unbanked population. Family Dollar up over 80 percent through the recession.
It is disturbing to see many articles published in foreign Newspapers and magazines highlighting the plight of the Middle Class in America . You would think that our own Media would want to cover this issue which should be at the top of the list for everyone. Instead, our Mainstream Media systematically attempts to keep everyone financially in the dark and shell shocked into spending money (assuming they still have disposable income). They do this by pumping out inane show after inane...

Brazil's Rousseff could win in first round: poll
BRASILIA (Reuters) - Brazilian ruling Party Candidate Dilma Rousseff opened a 24-percentage point lead over her main presidential rival in an Opinion Poll on Saturday, staying on course win the October 3 Election in the first round. Career Civil Servant Rousseff has 51 percent support, against former Sao Paulo State Governor Jose Serra's 27 percent, according to an Ibope survey published in O Estado de S. Paulo newspaper. Rousseff, President Luiz Inacio Lula da Silva's former Chief of Staff,...

Charlie Baker 'can do better'
G ov. Deval Patrick and President Obama have taken some heat for swiping each other’s campaign slogans. Now Patrick’s GOP opponent, Charlie Baker, has his own slogan-gate. Last week Baker rolled out a new slogan - “We can do better” - in a Web ad showing the Health-care bigwig at Faneuil Hall talking about the need to Cut taxes and rein in spending. It’s a nice catchphrase. Only problem is, it’s the same slogan used by disgraced ex-state Sen. Dianne Wilkerson...

Bernanke Promises Fed Help if US Economy Tanks
Speaking Friday at a posh resort in Jackson Hole, Wyoming, Federal Reserve Chairman Ben Bernanke promised more assistance should the U.S. Economy show weakness. He claims the Fed still has tools in the box to help should the recovery slip into a Double Dip Recession. Many will argue it already has, some even say we’ve officially have degenerated into a depression. In the past couple of weeks, the projected forecast for GDP growth has been downgraded not once, but twice! First from 3.5%...

Economist Touts 'Fiscal Science'
By LUCA DI LEO Jackson Hole, Wyo.—Better Tax and spending decisions may be possible if governments set clear fiscal goals, such as a Debt target, and tell citizens how they plan to achieve them, a new Economics paper suggested. Fiscal Policy could benefit from the more scientific approach taken by Monetary Policy over the past two decades, especially as governments around the world contend with high Debt levels, the paper said. Entitled "Monetary Science, Fiscal Alchemy," the paper...