US Economy Cools, Obama 2nd Term In Question


President Obama has had a double dose of bad news.  Yesterday the nation learned that 1st quarter gdp initial estimates had been revised down from the original 2.2% to 1.9%.  Today we found out that the unemployment number has gone up from 8.1% to 8.2%.  New hires dropped to just 69,ooo for this month while the previous 2 months job numbers were also corrected down by about 49,000 jobs.  With the economy slowing in the middle of the 2012 presidential election while the two candidates are in a statistical dead heat it has to lead many to wonder if Obama can get reelected.  It seems to me with not only the US economy slowing down but just about every major economy in the world also cooling off that Obama’s only real hope is the Fed.  Though it should be pointed out that it is questionable how much an impact the Fed could have between now and the election.  Perhaps the best Obama could hope for would be the Fed keeping the economy from getting any worse.  Link to story below.

U.S. Economy Adds 69,000 Jobs; Unemployment Rate Rises to 8.2%

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