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US Economy creeps along At 1.5% Growth Rate

from Bloomberg….

Gross domestic product, the value of all goods and services produced, rose at a 1.5 percent annual rate after a revised 2 percent gain in the prior quarter, Commerce Department figures showed today in Washington. The median forecast of economists surveyed by Bloomberg News called for a 1.4 percent increase. Household purchases, which account for about 70 percent of the world’s largest economy, grew at the slowest pace in a year.

Consumers are cutting back just as Europe’s debt crisis and looming U.S. tax-policy changes dent confidence, hurting sales at companies from United Parcel Service Inc. (UPS) to Procter & Gamble Co. (PG) Cooling growth makes it harder to reduce unemployment, helping explain why Federal Reserve ChairmanBen S. Bernanke has said policy makers stand ready with more stimulus if needed.

“We have an anemic recovery with really no momentum,”

More….

July 27, 2012 Posted by | Breaking News, Government, Media, Politics, Projections, The Economy, Updates | , , | Leave a comment

Political Roundup for July 27, 2012….Red Racing Horses

by: Ryan_in_SEPA

Fri Jul 27, 2012 at 08:00:00 AM EDT

President

Attack Ads: Despite spending $100 million on attack ads, the presidential campaigns and allies have little to show for their spending spree.  Public opinion polls have shown little to no movement over the last few months despite the ad onslaught.

Electoral College Tie:  CNN has two good articles on the possibility of a tied Electoral College and how it is quite possible. CNN also provides 8 possible ways for the Electoral College involving some very plausible combinations of states.  Click here to view the maps.

You Didn’t Build That: Four words (well technically five depending how you count) are hurting President Obama’s campaign as they have become a favorite attack of Republicans and the Romney campaign.  Here is a breakdown of how it is hurting Obama.

Rubio-Giuliani: Former NYC Mayor Rudy Giuliani has came out in favor of nominating Senator Marco Rubio for Vice-President.  Giuliani believes Rubio would be the strongest fit for Romney and for the GOP’s future.

Gun Control: President Obama has opened up on the gun control issue and Democrats are taking cover.  Senate Majority Leader Harry Reid refused to enter the political minefield brought up by the President as he refused to discuss any attempts to bring forward gun control legislation next year and said the Senate already has a full schedule this year.

African-American Turnout: Democrats are worried about African-American turnout in Pennsylvania.  Specifically they fear high unemployment and the new voter ID law will cause African-American turnout to be lower than in 2008. I tend to disagree with this analysis.  African-Americans turned out in 2010 in Pennsylvania at near 2008 numbers.

Pentagon Cuts: Four days before the presidental election, tens of thousands of Defense Department civilian employees will receive layoff notices if the fiscal cliff is not addressed.  This is electorally significant as a disproportionate number of the notices will be sent to Florida and Virginia residents.

More….

July 27, 2012 Posted by | Blogs, Breaking News, Government, Men, Military, Politics, Polls, Projections, The Economy, Updates, Women | , , | Leave a comment