July 26, 2012

The Hill: Apparently Obama Has Nothing To Do With the Current Economic Situation

Poor guy. This darned economy has a mind of its own and isn’t cooperating.

That’s pretty much what you’re forced to think in the following cop-out sentence from the Hill in anticipation of tomorrow’s report on second-quarter gross domestic product (along with revisions to prior years):

The summer, so far, hasn’t been kind to President Obama’s reelection campaign, which is fending off a big drop in job growth and persistently high unemployment.

Well, I suppose you can distinguish between the Obama campaign and the Obama presidency (though he certainly doesn’t, constantly claiming that campaign stops really represent presidential business).

But really, guys, if the campaign has a problem with how the economy is treating it, it’s because the Obama administration’s policies have made the summer so tough.

The HIll notes that tomorrow’s GDP report is projected to come in well below 2 percent:

Growth estimates scattered around the Internet are running about 1.5 percent, though Mark Zandi, chief economist of Moody’s Analytics, told The Hill on Thursday that he’s expecting around 1.3 percent.

“It was a weak quarter, but this wouldn’t be a surprise,” Zandi said.

“Anything much less than 1 percent would be disappointing, and anything closer to 2 percent would be a plus,” he said.

That won’t be particularly kind, either.

Cross-posted at NewsBusters.org.


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