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The Spectacle Blog
In its midyear update to the budget and economic outlooks, the Congressional Budget Office paints a gloomy picture of the next few years. It predicts that growth will come in around 2.3 percent this year, and only 2.7 percent next year. The deficit will clock in at about $1.3 trillion — smaller than in the past few years, but larger than projected. And the expected unemployment scenario won’t be much better a year from now than it is today:
That’s bad news for everyone, but it’s especially bad for President Obama’s reelection hopes. By the CBO’s projections, the employment situation would be a huge drag for him if he were running in 2016, nevermind 2012.
View all comments (7) | Leave a comment
More Blog Posts by Joseph Lawler
http://spectator.org/blog/2011/08/24/cbo-projects-trouble-for-obama
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Trinacria12| 8.24.11 @ 3:52PM
2.3% growth this year? After 0.4% and 1.3% growth in the first and second quarters, respectively? Assuming no downward adjustment to the Q2 number, we had somewhere in the ballpark of 0.8% growth for the first half of the year. Based on this figure, we'd need an average growth rate of roughly 3.8% in Q3 and Q4! And their estimates are considered gloomy? I'd say they're far more optimistic than is warranted by the current trends...
Rick V.| 8.24.11 @ 5:08PM
What if ... Obastard doesn't seek reelection? Just consider that for a moment. Countless scenarios come to mind, but let's just say he really, truly is as bored and ambivalent about being president of the united states (lower case intentional here) as he appears? It was a different situation for LBJ of course; he wanted to be president. I don't think Obastard does. Hmmm.
Simon Templar| 8.24.11 @ 5:32PM
CBO predicts trouble for who? He will be just fine, either way..it is us that is screwed. Maybe once in a while someone might notice or even care.
Rick| 8.24.11 @ 6:25PM
Obama will NOT loose! Your a bigget and your poles are rasist!
John D. Froelich| 8.24.11 @ 7:28PM
Ignorant Rick seems to no know spelling: biggot, and polls. Obama is failing and fading, likewise!
Andrew Branca| 8.24.11 @ 11:53PM
I presume "Rick" is intended as a satirical joke. Here. let me give it a try:
You crazy pubs will send this country into needless prosperity, and exacerbate the wealth differential between parasitic Democrat voters and entrepreneurial Republican voters, plus threaten to bring the wages and benefits of government employees into line with those enjoyed by the taxpayers who are tasked with paying for the public benefits!
Damn you Republicans, damn you all to hell!
:-) Wow, that was fun! Never thought of myself as a performance artist before, but now . . . heck, if "Vagina Monologues" can be a Broadway hit, why not "Democrat Monologues"? (Or would I have to be an ex-wife of Giuliani?)
Oldefarte| 8.25.11 @ 11:24AM
Yep, and again.....it's the Democrats, stupids:
http://youtu.be/HxaT19rQ-Do