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Just A Bump In The Road

Just A Bump In The Road

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American's Confidence In Obama's Economic Leadership Is Tanking, Perhaps Because His Team Sees The Current "Grim" News As Just "Bumps In The Road"
American's Confidence In Obama's Economic Leadership Is Tanking, Perhaps Because His Team Sees The Current "Grim" News As Just "Bumps In The Road"

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Published by: Republican National Committee on Jun 07, 2011
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08/23/2011

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Paid for by the Republican National Committee.310 First Street SE - Washington, D.C. 20003 - (202) 863-8500 - www.gop.comNot authorized by any candidate or candidate’s committee.
June 7, 2011
Just A Bump In The Road
 Americans’ Confidence In Obama’s Economic Leadership Is Tanking,Perhaps Because His Team Sees The Current “Grim” News As Just “BumpsIn The Road” 
______________________________________________________________________
President Obama’s Top Economic Adviser Austan Goolsbee: “There Are Always BumpsOn The Road To Recovery …” 
(Alexander Bolton, “Obama’s Economic Chief Says Job Numbers Are A Bump In The Road,”
The Hill 
, 6/3/11)
 
BUT AMERICANS DON’T SEE IT AS A BUMP IN THE ROAD, AND DISAPPROVAL OFOBAMA’S HANDLING OF THE ECONOMY “HAS REACHED NEW HIGHS”
Washington Post-ABC News Poll: “Americans’ Disapproval Of How [Obama] Is Handling The Nation’sEconomy And The Deficit Has Reached New Highs.”
“The public opinion boost President Obama receivedafter the killing of Osama bin Laden has dissipated, and Americans’ disapproval of how he is handling thenation’s economy and the deficit has reached new highs, according to a new Washington Post-ABC Newspoll.”
(Dan Balz and Jon Cohen, “Obama Loses Bin Laden Bounce; Romney On The Move Among GOP Contenders,”
The Washington Post 
, 6/7/11)
Washington Post-ABC News Poll: “About Six In 10 Of Those Surveyed Give Obama Negative Marks OnThe Economy And Deficit.”
“Overall, about six in 10 of those surveyed give Obama negative marks on theeconomy and the deficit. Significantly, nearly half strongly disapprove of his performance in these twocrucial areas. Nearly two-thirds of political independents disapprove of the president’s handling of theeconomy, including — for the first time — a slim majority who do so strongly.”
(Dan Balz and Jon Cohen, “Obama Loses BinLaden Bounce; Romney On The Move Among GOP Contenders,”
The Washington Post 
, 6/7/11)
 And They Don’t See The Recovery Obama And Team Claim
Washington Post-ABC News Poll: Nine In 10 Americans “Rate The Economy In Negative Terms AndSix In 10 “Say The Economy Has Not Started To Recover.”
“By 2 to 1, Americans say the country is prettyseriously on the wrong track, and nine in 10 continue to rate the economy in negative terms. Nearly six in 10say the economy has not started to recover, regardless of what official statistics may say, and most of thosewho say it has improved rate the recovery as weak.”
(Dan Balz and Jon Cohen, “Obama Loses Bin Laden Bounce; Romney On The MoveAmong GOP Contenders,”
The Washington Post 
, 6/7/11)
One In Three Likely Voters Think They Will Be Poorer Next Year.
“More than one in three likely votersexpect to be worse off when they go to the polls a year from this November, a somber fact for President Obama’s reelection campaign, while just 25 percent believe they will be better off, according to this week’sThe Hill poll.”
(John T. Bennett, “The Hill Poll: Many Voters Expect To Become Poorer,”
The Hill 
 
 ,
6/6/11)
 
 
 
Paid for by the Republican National Committee.310 First Street SE - Washington, D.C. 20003 - (202) 863-8500 - www.gop.comNot authorized by any candidate or candidate’s committee.
2
 
Sixty Five Percent Of Likely Voters Think The Country Is On The Wrong Track.
“Thirty-ninepercent said they expect to be in the same economic position they are now, but 65 percent also saidthey believe the country is on the wrong track.”
(John T. Bennett, “The Hill Poll: Many Voters Expect To Become Poorer,”
TheHill  ,
6/6/11)
 
BLS Commissioner Keith Hall Said That May’s Disappointing Employment Numbers Reflect “GeneralWeakening In Job Growth.”
“Bad US payrolls data for May appear to reflect a ‘general weakening in jobgrowth’ rather than any temporary distortion, the head of the agency that compiles the statistics said in aninterview with the Financial Times.”
(Robin Harding, “US Data Chief Warns On Employment,”
Financial Times
, 6/5/11)
Reuters
’s Felix Salmon: “There’s No Need To Look Beyond The Headlines This Month: Both The JobsReport And The Unemployment Numbers For May Are Telling The Same Grim Story.”
 
(Felix Salmon, “Jobs Fail,”
Reuters
, 6/3/11)
 
Salmon: “Beyond The Headlines, Things Look If Anything Even Worse … The Average DurationOf Unemployment, For Instance, Just Hit Another New Record At 39.7 Weeks.”
“If you do want to go beyond the headlines, things look if anything even worse: the average duration of unemployment, for instance, just hit another new record at 39.7 weeks; a full 44% of all unemployedpeople have now been jobless for more than six months.”
(Felix Salmon, “Jobs Fail,”
Reuters
, 6/3/11)
MAYBE THAT’S WHY GOOLSBEE IS FOLLOWING THE OTHER ARCHITECTS OF THEFAILED STIMULUS BACK TO THE IVORY TOWER
“Austan Goolsbee, Head Of The President's Council Of Economic Advisors, Is Returning To HisUniversity Of Chicago Post. His Departure Shakes Up The White House Team As The Nation'sRecovery Sputters.”
(Peter Nicholas, “Obama’s Chief Economic Advisor Resigning,”
Los Angeles Times
, 6/7/11)
 
Goolsbee Jumps Ship As Recent Economic News Indicated That A “Full Recovery Could BeYears Away.”
“Goolsbee's departure comes as a recent spate of troubling economic news is sparkingfears that a full recovery could be years away. Unemployment rose to 9.1% in May — its secondconsecutive monthly increase — and housing prices have dropped to their lowest level since 2002.”
(Peter Nicholas, “Obama’s Chief Economic Advisor Resigning,”
Los Angeles Times
, 6/7/11)
 
Goolsbee Is Leaving The CEA “With The Economy Moribund, No Clear Path To Vigor In Sight  And The Unemployment Rate Stubbornly Elevated.”
“Austan Goolsbee, one of President Barack Obama's longest serving policy advisers and the chairman of his Council of Economic Advisers, leaveshis post pretty much as he inherited it: with the economy moribund, no clear path to vigor in sight and the unemployment rate stubbornly elevated.”
(Peter S. Goodman, William Alden, And Zach Carter, “Austan Goolsbee Exit:Obama Adviser Leaves Behind Frustration, Political Dysfunction,”
The Huffington Post, 
6/7/11)
“In The Obama Administration Argot, It Seems, Satisfying The Rules Of Tenure Has ApparentlyBecome The New Version Of ‘Spending More Time With The Family.’”
 
(Peter S. Goodman, William Alden, And ZachCarter, “Austan Goolsbee Exit: Obama Adviser Leaves Behind Frustration, Political Dysfunction,”
The Huffington Post, 
6/7/11)
“Turnover Within Obama's Economic Team Has Been Heavy.”
“Turnover within Obama's economicteam has been heavy. Since taking office 2 1/2 years ago, Obama has lost Romer, National Economic CouncilDirector Lawrence Summers, budget chief Peter Orszag, and Jared Bernstein, who was Vice President JoeBiden's top economic advisor. Treasury Secretary Timothy F. Geithner has been in place from the beginning,however.”
(Peter Nicholas, “Obama’s Chief Economic Advisor Resigning,”
Los Angeles Times
, 6/7/11)
 AND SINCE OBAMA DISCONTINUED HIS DAILY ECONOMIC BRIEFING, THE JOB OF HISECONOMIC ADVISORS TURNED TO SPINNING OBAMA’S POOR PERFORMANCE

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