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The bombshell CBO report and why Obama should be worried
Hot Air ^ | February 2, 2012 | Ed Morrissey

Posted on 02/02/2012 10:39:08 AM PST by RobinMasters

Today, Politico’s Jim VandeHei reports that economic indicators should have Barack Obama worried about his re-election prospects, not more sanguine. VandeHei relies heavily on this week’s economic and deficit projections from the CBO, but perhaps not heavily enough:

A new CBO report grabbed lots of headlines for projecting the deficit will top $1 trillion this year — making Obama the first president ever to pile up $1 trillion or more every year in office. That’s not great politics. But it’s not even the worst news contained in the CBO report. The unemployment number is.

The CBO projects unemployment will rise, hitting 8.8 percent in the third quarter of the year, the heart of the campaign. That’s terrible politics. Obama advisers have told us repeatedly on background that if unemployment is above 8.5 percent in the final months of the campaign, it will be extremely hard, if not impossible, to win. The advisers say independents will not return to Obama if it looks like economic growth is anemic and uncertain and it looks like his policies did little, if anything, to create new jobs under his watch.

Economists seem divided on the question of whether robust enough economic and job growth can happen in time for Obama to benefit. Some see signs of possibility in holiday sales and consumer spending in some parts of the country. Others see more of the same: a slow slog back. The CBO sees 2.2 percent growth in the quarter ending in September, essentially the same sluggish pace of a year earlier.

(Excerpt) Read more at hotair.com ...


TOPICS: Business/Economy; Culture/Society; News/Current Events; Politics/Elections
KEYWORDS:

1 posted on 02/02/2012 10:39:11 AM PST by RobinMasters
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To: RobinMasters

bookmark


2 posted on 02/02/2012 10:40:48 AM PST by GOP Poet
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To: RobinMasters

The riots won’t help either. And if they are race riots, fuggetaboutit.


3 posted on 02/02/2012 10:41:28 AM PST by cuban leaf (Were doomed! Details at eleven.)
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To: nutmeg

bookmark


4 posted on 02/02/2012 10:41:53 AM PST by nutmeg
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To: RobinMasters

More ammo for Mitt’s campaign.


5 posted on 02/02/2012 10:44:48 AM PST by Jeff Chandler (Quando Omni Flunkus Moritati)
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To: cuban leaf
The riots won’t help either.

We gotta just keep pinning the 'occupier' rabbles right in the middle of his chest.

6 posted on 02/02/2012 10:45:40 AM PST by ErnBatavia (Carterize Obama in November)
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To: RobinMasters

Why should he worry? It’s what he wants. The official numbers won’t show it. The media won’t report it. Anyway, it’s Bush’s fault, together with the refusal of those obstructionist Republicans to do what he tells them quickly enough. Yeah, sure, they rubber stamp all his deficits, but they don’t do it fast enough!


7 posted on 02/02/2012 10:46:53 AM PST by Cicero (Marcus Tullius)
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To: RobinMasters

If the contrived unemployment hits 8.8% then the real number for unemployment is probably going to be a catastrophic 17.6% which these days is depression level.

FUBO & FAD


8 posted on 02/02/2012 10:48:21 AM PST by RJS1950 (The democrats are the "enemies foreign and domestic" cited in the federal oath)
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To: RobinMasters

Facts doen’t matter one iota. All the media is claiming that he’s a miracle worker, and all the Dems believe that. The media campaign pushing his re-election will continue to build strength, and come October the media will be telling us that unemployment is at 2%, Obama created 700,000,000 jobs, Obama single-handedly saved us from certain disaster/war/famine/depression/plague/aliens.


9 posted on 02/02/2012 10:51:36 AM PST by Cementjungle
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To: RobinMasters

This would be a good year to just not spend and save all you can.


10 posted on 02/02/2012 10:53:51 AM PST by lwoodham (Time is what keeps everything from happening all at once.)
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To: RobinMasters
Image and video hosting by TinyPic

What, me worry?

11 posted on 02/02/2012 10:55:25 AM PST by newheart (What this country needs is a good dose of bran. Attack Muffins Unite!)
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To: RobinMasters
Why should he worry. He'll just go onto American Idol, sing with Al Green and the world will be better.
12 posted on 02/02/2012 10:56:13 AM PST by duckman (Go Newt...)
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To: All


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13 posted on 02/02/2012 10:57:11 AM PST by musicman (Until I see the REAL Long Form Vault BC, he's just "PRES__ENT" Obama = Without "ID")
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To: RobinMasters
Here's how I look at this (and please correct me if my thinking is flawed): In a $14.5 trillion economy, an extra trillion of borrowed money should manifest itself as a growth of roughly 6.8%. In other words, deficit spending should make growth appear to be be 6.8% higher than it would be naturally. I mean all those extra goods and services should show up somewhere, shouldn't they?

But we get is 2 - maybe 2.5%. And for this mediocre growth, we are handing a huge bill to our children and grandchildren. I think that the benefits have not been worth the costs. We would have been better off taking a hit, economically speaking, than allowing government to make 'investments' on our behalf.

14 posted on 02/02/2012 11:00:12 AM PST by fhayek
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To: cuban leaf

“The riots won’t help either. And if they are race riots, fuggetaboutit.”

But it would be racist to call them race riots. They would actually be “righteous indignation assemblages” and would be cast as entirely justified responses to white racism.


15 posted on 02/02/2012 11:05:04 AM PST by Attention Surplus Disorder (The only economic certainty: When it all blows up, Krugman will say we didn't spend enough.)
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To: Attention Surplus Disorder

I’ve found these articles from Fred interesting. They are from around the turn of the century:

http://www.fredoneverything.net/Blowup.shtml
http://www.fredoneverything.net/Stability.shtml
http://www.fredoneverything.net/Underclass.shtml
http://www.fredoneverything.net/Opportunity.shtml
http://www.fredoneverything.net/Assimilation.shtml

But now he has a relatively new one on the subject:

http://www.fredoneverything.net/LondonRiots.shtml


16 posted on 02/02/2012 11:09:13 AM PST by cuban leaf (Were doomed! Details at eleven.)
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To: RobinMasters

Hog wash.

I see the unemployment numbers above 9.0 without a doubt. You will have$5 gas by the Summer months assuming no outside wars with Iran.

It seems like the only way the @sshat in chief is going to pull a rabbit out of his hat and win the election is if:

1. He’s running against Romney
2. He gets us into a conflict with Iran


17 posted on 02/02/2012 11:12:14 AM PST by nikos1121
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To: cuban leaf

thank you for the links.


18 posted on 02/02/2012 11:22:44 AM PST by cpray (We'll put a boot in your a**, it's the American way)
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To: RobinMasters

I don’t want to read too much into this, but last week I went to my local gun shop for some target ammo and the inventory was down to perhaps 40% of what it usually is. The shelves were more than half empty. They were nearly out of most Remington and Winchester White Box ammo. Even in .22LR. I’ve never seen this before at this shop. Coincidence or are more people becoming Preppers?


19 posted on 02/02/2012 11:29:00 AM PST by pabianice (")
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To: Cementjungle
>>Facts doen’t matter one iota. All the media is claiming that he’s a miracle worker, and all the Dems believe that. The media campaign pushing his re-election will continue to build strength, and come October the media will be telling us that unemployment is at 2%, Obama created 700,000,000 jobs, Obama single-handedly saved us from certain disaster/war/famine/depression/plague/aliens.

That won't work against a back-drop of foreclosed homes on your street and your neighbors out of work.

20 posted on 02/02/2012 11:31:25 AM PST by pabianice (")
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To: cuban leaf

Historically, tyrants have used civil unrest in order to step in and exert more power over the citizenry.

However, in this case, if there are race riots,

EVERYONE

will know who and what caused them. The FBP.


21 posted on 02/02/2012 11:34:12 AM PST by MrB (The difference between a Humanist and a Satanist - the latter knows whom he's working for)
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To: pabianice

Just the latest “surge” of buying of guns and ammo.
These “waves” have been going on since around mid-2008, shortly after McCain got the nomination.


22 posted on 02/02/2012 11:36:01 AM PST by MrB (The difference between a Humanist and a Satanist - the latter knows whom he's working for)
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To: pabianice
That won't work against a back-drop of foreclosed homes on your street and your neighbors out of work.

Sure it will... Obama will promise free houses and free money to those down on their luck. The "it's Bush's/wealthy fault" line is still working just fine with many people.

23 posted on 02/02/2012 11:38:04 AM PST by Cementjungle
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To: Cicero

Ping a Bingo!


24 posted on 02/02/2012 12:06:24 PM PST by itsahoot (Killing humans can't be immoral else pulling weeds from the garden would be.)
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To: cuban leaf

In 1964 they told me that if I voted for Goldwater, we’d have riots in the cities and half a million troops in Vietnam. They were right, I voted for Goldwater and we had riots in the cities and half a million troops in Vietnam.


25 posted on 02/02/2012 12:08:32 PM PST by Lonesome in Massachussets (Ceterum autem censeo, Obama delenda est.)
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To: Lonesome in Massachussets
They were right, I voted for Goldwater

You fell for that too? {:-)

26 posted on 02/02/2012 12:15:39 PM PST by itsahoot (Killing humans can't be immoral else pulling weeds from the garden would be.)
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To: StarFan; Dutchy; alisasny; BobFromNJ; BUNNY2003; Cacique; Clemenza; Coleus; cyborg; DKNY; ...

ping


27 posted on 02/02/2012 10:53:34 PM PST by nutmeg
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To: Cementjungle
The media campaign pushing his re-election will continue to build strength, and come October the media will be telling us that unemployment is at 2%, Obama created 700,000,000 jobs, Obama single-handedly saved us from certain disaster/war/famine/depression/plague/aliens.

You're right. I remember when Clinton was running for re-election and everyone was touting the 100 million jobs created by Clinton.

28 posted on 02/02/2012 10:57:15 PM PST by <1/1,000,000th%
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To: RobinMasters
Personally, I still do not believe our guys are campaigning against the right Democrat. i.e. I believe Obama is going to give his LBJ speech once the GOP has their candidate and has wasted time and money trying to "beat Obama".

Hillary is bring warmed up in the bull pen

29 posted on 02/02/2012 11:02:00 PM PST by Lloyd227 (Class of 1998 (let's all help the Team McCain spider monkeys decide how to moderate))
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To: AdmSmith; AnonymousConservative; Berosus; bigheadfred; Bockscar; ColdOne; Convert from ECUSA; ...

Thanks RobinMasters.


30 posted on 02/05/2012 9:58:37 AM PST by SunkenCiv (FReep this FReepathon!)
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To: fhayek

So what we’re seeing is really a -4% GDP, with $1T deficit spending pushing it up to a fake, and paltry at that, 2%.


31 posted on 02/05/2012 10:43:06 AM PST by ctdonath2 ($1 meals: http://abuckaplate.blogspot.com/)
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To: nikos1121

You forgot:

3. Buy votes.

$10T in deficit spending buys a lot of votes. Just 0.01% of that coming back (reap what you sow) gives a billion dollar campaign war chest, and that’s on top of all the loyalty bought with the other 99.99%.


32 posted on 02/05/2012 10:48:36 AM PST by ctdonath2 ($1 meals: http://abuckaplate.blogspot.com/)
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To: Lloyd227

Nope. Hillary already blew multiple opportunities to conspire her way into office. Too late.


33 posted on 02/05/2012 10:52:22 AM PST by ctdonath2 ($1 meals: http://abuckaplate.blogspot.com/)
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