An Economic Recovery?

After Touting Economic Recovery And Shutting Down His Jobs Council, Obama Sees A String Of Bad Economic News

• A little more than a week after President Obama proudly proclaimed “an economic recovery has begun,” our economy shrank for the first time in 3.5 years, consumer confidence dropped, and the unemployment rate rose to 7.9 percent.

• On top of this poor economic news, President Obama officially disbanded his long-ignored Jobs Council—a sign of his lack of focus on the economy.

• Just as President Obama was too distracted to meet with his Jobs Council, he is now similarly too distracted by his liberal second-term priorities.

• President Obama needs to put aside his liberal agenda and get back to work on the issue Americans care about most: creating jobs.

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Associated Press: “Economic Jitters Compete With Obama Agenda” (Jim Kuhnhenn, “Economic Jitters Compete With Obama Agenda,” Associated Press, 1/31/13)

Fox News: “Obama’s Jobs Council Is Disbanding” (“Obama’s Jobs Council Is Disbanding,” Fox News, 1/31/13)

 President Obama In His Second Inaugural: “An Economic Recovery Has Begun.” “OBAMA: A decade of war is now ending. An economic recovery has begun. America’s possibilities are limitless, for we possess all the qualities that this world without boundaries demands: youth and drive; diversity and openness; an endless capacity for risk and a gift for reinvention.” (President Barack Obama, Remarks, Washington, DC, 1/21/13)

U.S. Consumer Confidence Dropped To Its Lowest Level In Over A Year. “U.S. consumer confidence plunged in January to its lowest level in more than a year, reflecting higher Social Security taxes that left Americans with less take-home pay. The Conference Board said Tuesday that its consumer confidence index dropped to 58.6 in January. That’s down from a reading of 66.7 in December and the lowest since November 2011.” (Martin Crutsinger, “US Consumer Confidence Plunges On Higher Taxes,” Associated Press, 1/29/13)

 Associated Press: “U.S. Economy Shrinks 0.1 Percent, First Time in 3.5 Years”  (Christopher S. Rugaber, ““U.S. Economy Shrinks 0.1 Percent, First Time in 3.5 Years,” Associated Press, 1/30/13)

The Unemployment Rate Rose To 7.9 Percent And Over 12.3 Million Americans Are Still Unemployed. (Bureau Of Labor Statistics, Accessed On 2/1/13)