Research Briefing

From Today’s GDP Numbers, It Is Clear Obama Is Focusing

Too Much On “Jersey Shore” And Too Little On The Economy

Governor Ed Rendell (D-PA): “I Think There’s Got To Be A Little Bit Of Dignity To The Presidency.” (MSNBC’s “Morning Joe” 7/27/10)

OBAMA APPEARS TO HAVE PLENTY OF TIME TO TALK GTL

In His Speech To The National Urban League Yesterday, Obama Randomly Brought Up Snooki. “I was on the ‘The View’ yesterday, and somebody asked me who Snooki was.  I said, I don't know who Snooki is.” (President Barack Obama, “Remarks By The President On Education Reform At The National Urban League Centennial Conference,” Washington, D.C., 7/29/10)

“It's A Little Hard To Make Sense Of What Happened This Week In The World Of Education, But, Let's Give It A Fast Try: President Obama Gave A Speech To The Urban League Convention In Which He Joked About The Jersey Shore’s Snooki…” (Valerie Strauss, “Obama, Education, Snooki, Civil Rights And Bryan Bass,” The Washington Post’s “The Answer Sheet” Blog, 7/30/10)

“During His Appearance On ‘The View,’ President Obama Got A Quiz On Celebrities In The News -- Snooki, Lindsay Lohan And Mel Gibson.” (Lynn Swwet, “Obama On Snooki, Lindsay Lohan, Mel Gibson and Chelsea Clinton’s Wedding,” Chicago Sun Times’ “Lynn Sweet: The Scoop From Washington,” Blog, 7/30/10)

“‘I've Got To Admit, I Don't Know Who Snooki Is.’ But Obama Made A Joke About Snooki In His Comedy Routine Delivered At The White House Correspondents Association Dinner May 2.” (Lynn Swwet, “Obama On Snooki, Lindsay Lohan, Mel Gibson and Chelsea Clinton’s Wedding,” Chicago Sun Times’ “Lynn Sweet: The Scoop From Washington,” Blog, 7/30/10)

MEANWHILE, GDP GROWTH HAS BEEN DISAPPOINTING

The Economist: “Months Of Disappointing Economic Figures Have Now Culminated In A Disappointing Advance Estimate For Second Quarter Output Growth. Real GDP Increased At A 2.4% Annual Pace In The Second Quarter—Less Than Forecast And The Lowest Rate Since The Third Quarter Of Last Year.” (R.A., “Slower And Slower,” The Economist’s Free Exchange Blog, 7/30/10)

The New York Times: “This Slowdown, Coupled With Disappointing Job Creation, Has Led To Worries That The Recovery Is Losing Steam. The Nation’s Unemployment Rate Continues To Linger Just Below 10 Percent.” (Catherine Rampell, “U.S. Economic Growth Slowed To 2.4% Rate In 2^nd Quarter,” The New York Times, 7/30/10)

The New York Times: “Forecasters Have Predicted Even Slower Growth In The Second Half Of The Year, Probably Around An Annual Rate Of 1.5 Percent. At That Pace, It May Be Years Before The Economy Returns To The Trend It Was On Before The Financial Crisis Hit.” (Catherine Rampell, “U.S. Economic Growth Slowed To 2.4% Rate In 2^nd Quarter,” The New York Times, 7/30/10)

The Washington Post: “The Downshift In Second-Quarter Growth Shows An Economic Recovery That, One Year In, Seems To Be Settling Into A Middling Pace.” (Neil Irwin, “Economic Growth Slows To 2.4 Percent Pace In Second Quarter,” The Washington Post, 7/30/10)

The Financial Times: “US Economic Growth Slowed In The Second Quarter Of The Year As A Swelling Trade Deficit And Weaker Inventories Dragged On The Recovery.” (Alan Rappeport, “US Growth Slows In Second Quarter,” The Financial Times, 7/30/10)

• FT: “Consumer Spending Also Slowed In The Second Quarter Of The Year, Rising By 1.6 Per Cent Following A 1.9 Per Cent Rise In The First Quarter. Consumers Have Been Holding Back Amid Uncertainty About Employment And The Housing Market.” (Alan Rappeport, “US Growth Slows In Second Quarter,” The Financial Times, 7/30/10)
• FT: “The Commerce Department Figures Were Released A Week After Ben Bernanke, Chairman Of The Federal Reserve, Told Congress That The Economic Outlook Was ‘Unusually Uncertain.’” (Alan Rappeport, “US Growth Slows In Second Quarter,” The Financial Times, 7/30/10)