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- Chuck Norris honorary chairman of NRA voter registration campaign
- GOP outraged Obamacare investigators able to get coverage with fake IDs
Latest Peter Morici Items
The news media were ecstatic when the government said in January that the economy grew by 3.2 percent in the final three months of 2013.
Throughout his economically troubled presidency, Barack Obama has had as a governing strategy political distraction: blaming his failures on others in an attempt to convince enough Americans that he's not at all responsible for an underperforming, jobless economy.
The government's latest reports that the economy grew at a 3.6 percent annual rate in the third quarter and created 203,000 new jobs last month left out a lot of caveats.
Northeasterners affected by Tuesday's massive storm are beginning the process of assessing the damage. Initial estimates suggest it could cost anywhere from $20 billion to $100 billion to bring things back to where they were before Hurricane Sandy struck.
President Obama is expected to thrill supporters Thursday night when he speaks at the Democratic National Convention, but the good feeling could be short-lived with the arrival of a critical jobs report to be released Friday morning.
The free-trade consensus of the previous two decades has frayed under President Obama, and while he has pushed through some low-level agreements, he has fallen far short of his predecessors on this key driver of the nation's economy, and analysts say the U.S. is lagging behind many of its chief competitors.
The national news media's incomprehensible cheerleading aside, what the July numbers painted was a jobs picture where thousands of discouraged workers are dropping out of the work force because it is getting harder than ever to find a job in President Obama's America.
Noticeably absent from President Obama's latest economic-stimulus package are any further attempts to create jobs through "green" energy projects, reflecting a year in which the administration's original, loudly trumpeted efforts proved largely unfruitful.
The U.S. trade deficit with the rest of the world surged by nearly 5 percent to $42.3 billion in May, reflecting strong growth in imports of cars, computers and clothing, the Commerce Department reported Tuesday morning.