Looking pretty ugly, with job growth stillborn, evaporating consumer confidence, and Europe caught in a drain-circling spiral. The revision downward so drastically of Q1 GDP raises the question in my mind as to whether the same thing is going to happen to Q2 GDP in two months (After it already came in a full half-percentage point below expectations for the initial number), since frankly there isn't any good economic news Q2 over Q1 to explain why Q2 was really a whole percent better than Q1's downward-revised number.
"Probably yes" might be a bit stronger than I feel, but that's what I picked. Really I think it is more like 50-50, but if anyone can nudge it over the edge into disaster, Obama is that man.