« on: May 31, 2014, 08:57:47 AM »
I've already posted this at CU, so they know about it as well.
Time for Democrats to panic over economy?
DC MONEY INSIDER
Ben White | @morningmoneyben
21 Hours Ago
It has not been a pleasant week for Democrats who hope that a strengthening economy will help them overcome other big electoral weaknesses and limit their losses in the 2014 midterm elections.
The biggest blow came Thursday with release of revised gross domestic product numbers showing the economy actually contracted 1 percent in the first quarter, the first decline since 2011.
Economists and the White House quickly (and correctly) downplayed the significance of the report given the impact of the brutal winter and the contribution from slowing inventory growth, which is likely to reverse in the second quarter.
"Overall the first quarter was subject to a number of notable influences, including historically severe winter weather, which temporarily lowered growth," top White House economist Jason Furman wrote in a blog post shortly after the data came out. "A range of more up-to-date data from March and April, including jobs, manufacturing, housing and other indicators, provide a more accurate and timely picture of where the economy is today and show that it continues to recover from the worst recession since the Great Depression."
Non-partisan economists mostly backed up this view, noting that on the same day as the GDP report, initial jobless claims fell back to 300,000, indicating more strong jobs gains likely in the coming months.
As I said at CU--just wait until the next wave of Obamacare insurance cancellations hits! No matter what the Oministration says/does, people should start to know right about . . . well,
now, if not in June.
The rest is here:
http://www.cnbc.com/id/101718272
Logged
"Timid men prefer the calm of despotism to the tempestuous sea of Liberty." - Thomas Jefferson
"All you have to do is look straight and see the road, and when you see it, don't sit looking at it - walk!" -Ayn Rand
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"These anti-gun fools are more dangerous to liberty than street criminals or foreign spies."--Theodore Haas, Dachau Survivor
Chase her.
Chase her even when she's yours.
That's the only way you'll be assured to never lose her.
