August 26, 2011

GDP GROWTH UNEXPECTEDLY SLOW. How’s that hopey-changey stuff workin’ out for ya?

UPDATE: “Politically, of course, this is a rolling disaster for the Obama administration. The downward revision comes while Obama is on Martha’s Vineyard, enjoying a high-profile ‘vacation’ and promising to get around to a jobs plan … soon. Commerce will give one more revision to Q2′s estimate in late September, which will put the poor economic performance under his stewardship on display yet again — and then Obama will have to deal with a Q3 result that so far doesn’t look any better than Q2. If Hurricane Irene doesn’t bring the vacation to an early end, this number really should have the White House political team calling to have Air Force One warming up the engines.”