It is beginning to look like the "economy" will be an election year issue, big time.

Could things go more badly for our know-nothing,  do-nothing president?  I don't think so.  

First time claims are up

First time unemployment benefit claims rose to 383,000,  13,000 more than the initial reports of last week  (370,000 initially reported,  adjusted up to 373,000).  

Obama's Stimulus cost the nation 4.1 million jobs.

James Pethokoukis / The Enterprise Blog:
CBO: Obama stimulus may have cost as much as $4.1 million a job  —  The Congressional Budget Office in a new report: … OK, so without the stimulus, there would be anywhere from 200,000 to 1.5 million fewer people employed right now?  That means the current cost-per-job created is somewhere between $4.1 million and $540,000. . . . .

First Quarter GDP was adjusted down

GDP  adjusted down to 1.9% for the first quarter of this year.  Understand that it was originally reported to be 2.5%.  As it turns our,  Obama's best GDP numbers came in 2009,  as an extension of the Bush years.  


Consider this:  the fact that every summer for the past three years (2010,2011 and now, 2012),  the economy has taken a dump,   denies Obama of the opportunity to brag about his domestic policies when reports are positive.  Understand that cyclical developments  are not the product of policy,  unless, of course, one wants to argue that Obama designed cyclical failure into his Stimulus bill(s).    -  blog editor

End Notes/ Initial Reports and Revisions: 

May 26 - initial report is 383,000
May 19 - initial report is 370,000 - adjusted to 373,000 on May 31 with the May 26 report
May 12 - initial report 370,000 , adjusted up to 372,000 (63 out 64 weeks this adjustment has been higher than its initial report)
May 5 - first report is 367,000 - revised with the May 12 report to 370,000
April 28 - first report is 365,000 ---  adjusted up to 368,000 with the May 3 report
April 21 _  first report for week ending on the 21st,  is 388,00 - the same initial report as last week's.  An adjustment [upward ?] will occur with next Thursdays report.  This was adjust up to 392,000.  
April 14 - first report is 388,000 to be adjusted next Thursday.  Adjust  number is 389,000
April 7 :  first report is 380,000 off an estimate of 359,000. This number was adjusted up to 388,000 !!!
March 31:  first report was 357,000 but was adjusted upwards by 10,000 to 367,000
March 24 (week ending)  --  359,000,  adjusted up 11,000 from the first report of the week before.