“Christina D. Romer, Chairwoman Of The Council Of Economic Advisers, Will Speak To The National Press Club In Washington (Wednesday).”  (”Economic Reports This Week,” The New York Times, 8/29/10)

WILL ROMER MENTION THAT OBAMA’S STIMULUS PROJECTIONS WERE OVERLY OPTIMISTIC AND HIS POLICIES ARE CAUSING UNCERTAINTY? (more…)

Economic Woes Continued While The Clark Griswold Presidency Took Another Break At Martha’s Vineyard

THE “FIRST GOLFER’S” VACATION FROM REALITY

CBS News’ Mark Knoller: “Vacation Stats So Far For Pres Obama’s Vacation: 5 Rounds Of Golf: 81 Holes, 21hrs 27mins…”  (Mark Knoller, Twitter, 8/28/10) (more…)

TODAY’S GDP REVISION MAKES CLEAR OBAMA’S “ECONOMY BARELY HAS A PULSE”

The Associated Press: “The Government Is About To Confirm What Many People Have Felt For Some Time: The Economy Barely Has A Pulse.” (Christopher S. Rugaber, “Snapshot Of Economy About To Get A Lot Bleaker,” The Associated Press, 8/27/10) (more…)

“The Obama Economic Recovery
Continues To Lumber Forward With All The Momentum Of A Blind, Three-Legged
Elephant.”(Editorial, “The
Obama Recovery,” Las
Vegas Review-Journal, 8/8/10)

MORE
NEGATIVE ECONOMIC DATA CAME OUT FRIDAY

“Americans Spent Less At Most Retail Stores In July
And Inflation Remained Tame As High Unemployment And Weak Job Growth Fueled
Fears Of A Slowing Economic Recovery.” (Michael
Crutsinger, “Auto Sales Boost Otherwise Weak Retail Sector,” The
Associated Press, 8/13/10)

Declines For Most Retailers Indicate That The “The
Recovery Is Losing Momentum.” “But overall, the
declines for most retailers in July suggest the recovery is losing momentum.
‘There is only one thing that’s for sure - economic momentum has slowed,’
said Jennifer Lee, senior economist for BMO Capital Markets.” (Martin
Crutsinger And Christopher S. Rugaber, “Retail Sales Post July Gain,
Consumer Prices Rise,” The
Associated Press, 8/13/10)

The Gains In Consumer Sentiment “Was Too Small To
Represent A Meaningful Improvement.” “The
sentiment index is just several points above where it was a year ago, with
worries about prospects for job growth and income hanging over
sentiment.  ‘The gain was too small to represent a meaningful
improvement,’ Richard Curtin, director of the surveys, said in a statement.
‘Consumers have increasingly come to expect lackluster income and job growth
for an extended period of time.’” (”US Consumer
Sentiment Edges Up In Early Aug-Survey,” Reuters,
8/13/10)

A Majority Of Those Surveyed Did Not Think The Overall
Economy Would Change in the Next Year. “‘While
consumers increasingly believed the worst of the downturn was over..the
majority expected that overall economic conditions would remain largely
unchanged during the year ahead,’ Curtin said.” (”US Consumer
Sentiment Edges Up In Early Aug-Survey,” Reuters,
8/13/10)

THE
OUTLOOK FOR THE ECONOMY CONTINUES TO BE BLEAK

53 Surveyed
Economists “Offered A Bleak Picture Of Tepid Growth And High
Unemployment.” “The 53 surveyed economists, not all of whom answered every
question, offered a bleak picture of tepid growth and high unemployment. On
average, they still don’t see the unemployment rate dropping below 9% through
at least June 2011. They expect the economy to add just 136,000 jobs a month
over the next 12 months, down from a forecast of 157,000 in the July survey.
At that rate, job creation will barely keep up with new entrants to the labor
force.”  (Phil
Izzo, “Economists Want Policy Makers To Back Off Now,” The
Wall Street Journal, 8/13/10)

“‘If Claims
Remain At Their Current Level, Then Even The Modest Recent Gains In Private
Payrolls Will Not Be Sustained,’ Said Ian Shepherdson Of High Frequency
Economics.”
(Phil Izzo, “Economists Want Policy Makers To Back Off Now,” The
Wall Street Journal, 8/13/10)

“When Asked
About The Biggest Risk Facing The Economy, ‘Too Few Jobs, Too Little Wage
Income And Too Little Consumer Spending’ Was The Most Popular Choice.” (Phil Izzo, “Economists Want
Policy Makers To Back Off Now,” The
Wall Street Journal, 8/13/10)

“The Economy
Needs Government To Get Out Of The Way,” Said Stephen Stanley Of
Pierpont Securities. (Phil Izzo, “Economists Want
Policy Makers To Back Off Now,” The
Wall Street Journal, 8/13/10)

“Private Companies Have All But Frozen Their
Hiring.” At the beginning of the year, it looked
like that missed projection wouldn’t matter much politically as job growth
seemed to be picking up. But private companies have all but frozen their
hiring again, making a presidential explanation an imperative.” (Michael
D. Shear, “What Chilled The U.S. Economy? An Ill ‘Headwind’ From Europe Says Obama,” The
Washington Post, 8/13/10)

Companies May Find
The Right Person To Hire, But Are Holding Off Hiring Until The Future Is More
Certain. “Another part of the
problem, said Jeff Joerres, chief executive of staffing firm Manpower, could
be companies’ renewed uncertainty about the economic outlook. ‘It’s not
uncommon for us to get the right person for the job and the companies still
drag their feet for a month or more, just to try to get better visibility for
the future and to save another month of expense,’ he said.” (Mark Whitehouse, “Employers
Moving Slowly To Fill Jobs,” The Wall Street Journal, 8/11/10)

New
York Times Editorial
Board Says “The Odds Of Renewed Recession Remain Uncomfortably
High.” “The economic news — on
growth, consumers, housing and manufacturing — was bad enough before the
jobs report for July, released last Friday. The report leaves no doubt that a
slowdown is well under way. The odds of renewed recession remain
uncomfortably high.”  (Editorial, “As The Economy Slows,” The New York Times, 8/8/10)

SMALL
BUSINESSES AND EVEN DEMOCRAT LEADER

EXPRESSING
FRUSTRATION WITH OBAMA’S ECONOMIC POLICIES

Small Business & Entrepreneurship Council Calls Obama’s
Economic Policies “Misguided” And Say They Are Preventing
Businesses From Hiring. “Misguided economic policies
advocated by the Obama administration and congressional Democrats have
increased taxes on companies and are taking a major toll on hiring decisions
by business leaders, claims Small Business & Entrepreneurship (SBE)
Council president and CEO Karen Kerrigan.” (Jay
Heflin, “Small Business Group Blames Democrats For Prolonged
Downturn,” The
Hill, 8/12/10)

“Democratic U.S. Rep. John Yarmuth Lashed Out At
President Barack Obama’s Economic Team Thursday, Saying They Show More
Concern For Wall Street Than Average Americans In A Blunt Election-Year
Assessment From An Obama Loyalist Frustrated By A Tepid Economic
Recovery.” (Bruce
Schreiner, “Dem Yarmuth Critical Of White House Economic Team,” Associated
Press, 8/12/10)

Rep. John Yarmuth (D-KY) Says The White House Is More
Concerned About Goldman Sachs Making Money Than The American People. “I’m not
real happy with our economic team in the White House. . . They think it’s
more important that Goldman Sachs make money than that you make money. And
that’s where we’ve got to change the attitude of this country. . . I think we
have an opportunity to really regain the confidence of the American people if
we show here’s where we’re going to go and why. . . I don’t think the
administration’s done that yet.” (Bruce
Schreiner, “Dem Yarmuth Critical Of White House Economic Team,” Associated
Press, 8/12/10)

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New Jobs Report Does Little To Lift The “Dark Cloud” Looming Over The Economy

“President Barack Obama Lost A Second Member Of His Economic Team As Economist Christina Romer Decided To Return To Teaching On The Eve Of An Employment Report Highlighting The Administration’s Struggle To Spur Job Gains.”  (Hans Nichols and Vivien Lou Chen, “Romer Resigns In Second Exit For Obama Economy Team,” Bloomberg, 8/6/10) (more…)

GOP Offers Proven Solutions For Job Creation, Economic Growth And Help For Families

GOP HAS REPEATEDLY OFFERED SOLUTIONS TO CREATE JOBS BASED ON CUTTING TAXES

JANUARY 2009: House Voted Down GOP Alternative Stimulus Package Made Up Of Tax Cuts. “The House voted down several Republican proposals, including a substitute package made up entirely of tax cuts for individuals and businesses. Republicans did not say how much their package would cost, although Mr. Boehner said it would be far less than the Democratic plan.” (Jackie Calmes, “House Passes Stimulus Plan With No G.O.P. Votes,” The New York Times, 1/28/09) (more…)

Budget Rehashes Failed Jimmy Carter Tax Credits While Imposing $2 Trillion In New Job-Killing Taxes

HOWARD GLECKMAN OF THE URBAN INSTITUTE ON OBAMA’S JOBS TAX CREDIT: “Some Bad Ideas Never Go Away … It’s Just Providing Incentives To Lots Of Companies That Probably Aren’t Going To Make It In The End Anyway.” (Catherine Rampell, “Support Is Building For A Tax Credit To Help Hiring, The New York Times, 10/6/09) (more…)

With Binge Spending Plan Unveiled, Why Does Obama Continue To Think That “Overload” Means “Reset”?

FLASHBACK: LAST MARCH, HILLARY CLINTON GAVE “RESET” BUTTON TO RUSSIANS,

EXCEPT RUSSIAN WORD TRANSLATED TO “OVERLOAD”

“US Secretary Of State Hillary Clinton’s … Gift To Russian Foreign Minister Sergei Lavrov At Their Meeting In Geneva On Friday Evening Was Meant To Underscore The Obama Administration’s Readiness To ‘Press The Reset Button’ In Ties With Moscow. But Instead Of The Russian Word For ‘Reset’ (Perezagruzka) It Featured A Slightly Different Word Meaning ‘Overload’ or ‘Overcharged’ (peregruzka).” (”Russian Media Teases Clinton Over ‘Reset’ Button,” AFP, 3/7/09) (more…)

Obama Claims He’ll Budget Like Any Family Would, But Can Families Budget As He Does?

RNC CHAIRMAN MICHAEL STEELE ON RECORD DEMS’ $1.9 TRILLION INCREASE IN DEBT LIMIT: “Last night President Obama attempted to restore his promise to bring a new era of fiscal responsibility to Washington but after a full year of pushing his misguided agenda it is obvious that this new era isn’t going to happen on his watch.  Today’s vote to increase America’s debt ceiling is just another example, in a year full of examples, that the president has failed to live up to his promise of responsibility. At a time when millions of Americans are desperately struggling to live within their means and survive this economic recession, the fact the President Obama would team together with Congressional Democrats to increase America’s credit card limit is the height of political arrogance and the very definition of irresponsibility. The recent election results should have sent a message to the president, but today’s vote makes it clear he is only interested in finding new ways to finance his out-of-control binge spending.  President Obama and his liberal allies can rest assured that the American people will send them the ultimate message t his November.” (RNC Chairman Michael Steele, Statement On Debt Ceiling Increase, GOP.com, 1/28/10) (more…)

A Look At Why American Taxpayers Want Their Money Back From Obama, While He Misleads Americans On What His Savings Tax Will Do

OBAMA CLAIMING HIS SAVINGS TAX WILL “GET YOUR MONEY BACK, EVERY DIME.” “We’re having a fight right now because I want to charge Wall Street a modest fee to repay taxpayers in full for saving their skins in a time of need. We want our money back … And we’re going to get your money back, every dime — each and every dime.” (President Barack Obama, Remarks During Town Hall Meeting In Elyria, OH, 1/22/10)

BUT IT’S AMERICAN TAXPAYERS THAT ARE DEMANDING THEIR MONEY BACK FROM OBAMA

Americans Want $862 Billion Back After Obama’s Stimulus Failed To Prevent Double Digit Unemployment. “CBO’s current projection of ARRA’s budgetary impact over the 2009-2019 period–a total increase in deficits of $862 billion–is about $75 billion greater than the agency originally estimated.” (”The Budget And Economic Outlook: Fiscal Years 2010 To 2010,” Congressional Budget Office, 1/26/10; U.S. Bureau of Labor Statistics, www.bls.gov, Accessed 1/26/09) (more…)