(CNN) – A report showing U.S. economic growth slowing over the past three months provided ammunition for Republicans Thursday, who pinned responsibility for a weak economy squarely on President Barack Obama.
Reince Priebus, the chairman of the Republican National Committee, wrote in a statement the numbers represented "just more devastating news for struggling American families."
– Follow the Ticker on Twitter: @PoliticalTicker
"Instead of spending his time fighting for American jobs, President Obama is working desperately to save his own," Priebus continued, "As a result, 23 million Americans are struggling for work. We need a new president who understands how the economy works and who will make job creation his number one priority. Mitt Romney will be that president."
Mitt Romney's presidential campaign released a statement and held a conference call characterizing the report as dismal news for Americans looking for jobs.
"President Obama has been claiming that his economic policies have 'worked.' This morning's GDP numbers suggest otherwise," former Minnesota Gov. Tim Pawlenty wrote in a statement from Romney's team. "It seems that the President's poor stewardship of the economy is only going to come to an end when his term comes to an end. Instead of generating growth and jobs, he has only generated uncertainty. Let's hope that the President finds the time amid his busy fundraising schedule to meet with his Jobs Council at least on one more occasion in what remains of his failed presidency."
An adviser to Romney summed up the Republican response on Twitter:
GDP = Grossly Disappointing President #ObamaIsntWorking— Eric Fehrnstrom (@EricFehrn) July 27, 2012
GDP = Grossly Disappointing President #ObamaIsntWorking
The report from the Commerce Department showed the U.S. economy slowed in the second quarter amid weak consumer spending, government cuts and a rise in imports from foreign countries.
Gross domestic product, the broadest measure of the nation's economic health, grew at an annual rate of 1.5% from April to June, the Commerce Department said, down significantly from a 2% rate in the first three months of the year.
The Commerce Department also released revisions going back to the start of 2009. While the revisions showed that growth in 2010 was weaker than previously thought, 2009 and 2011 were slightly stronger.
The economy needs to grow around 3% a year to bring the unemployment rate down significantly, and since consumer spending accounts for roughly two-thirds of the economy, it too needs to grow around 3%.
"The report this morning was not too off of what most economists expectations were with a headline number of 1.5% for GDP growth, but those expectations themselves, and the report itself, were actually quite disappointing. It's a picture of a decelerating economy," Romney economic adviser Glenn Hubbard said on a conference call organized by the presumptive GOP nominee's campaign.
Alan B. Krueger, the chairman of Obama's Council of Economic Advisers, framed the numbers in a White House blog post as the "twelfth straight quarter of positive growth," though he acknowledged the rate of growth was still too slow for job creation.
"While the economy continues to move in the right direction, additional growth is needed to replace the jobs lost in the deep recession that began at the end of 2007," Krueger wrote.
CNNMoney's Annalyn Censky contributed to this report.
– Check out the CNN Electoral Map and Calculator and game out your own strategy for November.
GOP killing jobs efforts by the president. Too bad his efforts are during an election cycle. The GOP will do or vote for anything that improves the economy!
Since the financial crash in 2008, our economy has seen a slow down every year during the late spring and early summer. Every year. We have seen a drop in month to month job growth, credit card use, etc. Every measure that you can take shows the same 2nd quarter slow down. It seems to be a new normal.
The GOP have blocked everything obama has has tired to help the economy and now they blaming hime for the GDP report. You can't make this crap up
In november the smart american ppl will send the GOP a message
Is Boehner aware of the fact that he is the worst speaker of the house in US history and the House of Representative, under his watch, is the least productive and is a utter failure. They have failed the moral majority. And yet, Boehner still walk around with his head held up pointing the blame on our elected president who was elected by the people, who won, by the way, by a landslide. Does he realize that his and congress responsibility to the people of this country, is to pass legislation that would help move America and the economy forward and not obstruct and undermined positive smart approaches to restore this country by fixing the mess that his party caused. Is his party aware that the middle class is the key component to this nation survival, not the 1%? I know he realize but the question is, does he and his clan, really care? I know Obama cares!
Republican obstructionism now being used against the Obama campaign.
How obvious......how damaging for the GOP.
This is an insult to the American people and the polls will reflect it come November.
I wonder if Romney and people like him would take their money out of tax havens like the Cayman Islands and bring it back to the USA to
1.help build jobs
2. pay more taxes that takes the burden of off companies working in the US trying to suceed
ROMNEY IS NOT THE SOLUTION – HE IS THE PROBLEM and people like him that take the advanatges of your country but place their money elsewhere
by the way – when he goes to Israel TELL Romney to SHUT UP so he does not start WW3
Obama proposed ONE jobs bill that the GOP didn't like, The GOP in the House have passed 25+ jobs bills and Obama and Reid will not even allow them to come to DEBATE on the Senate floor
What is the problem? All of you people that have no jobs, are losing savings, have lost your house, etc are just whiners. The economy is just fine. Obama says so. Yes, this is sarcastic.
The GDP will never start growing again until the Republicans quite stonewalling......Obama can't do anything as long as the GOP doesn't try to help......so if you think the Republicans are trying to help out the economy, the unemployment or the middle class you can for get it.....it is all about trying to win this election making Obama a one term President and to hell with this country or the American people to hell with our economy (it's not hurting them financailly)........so I will vote Obama over any Republican running today......and then vote democrat again in 2016.....Republicans have lost my confidence that they can get back to being the Grand Old Party they once were......they have let the far right conservitive take over their party......they no long want the suport of the moderate republican, they don't even want the middle class, the only time they want us is in the election year and then they will give us the shaft once they get our vote.
I love how CNN is so consistently biased in its reporting. Making it look like the only issue here is that the GOP is using the GDP numbers to attack Obama. The actual issue IS THE GDP GROWTH NUMBERS. Clearly this president is a total failure
I don't know that anyone would be satisfied with these numbers unless there were negative number before. If the Republicans would get the tea... I mean stick out of their anatomy and vote for spending on road, bridge, communications (phone and internet) systems and other basics that help businesses go among other things, then there might be higher GDP.
►It seems to be a new normal.◄
It is a new normal but the Republicans will not agree with that until they are in control – Oh, wait, they are in control of the House but yet it's the President's fault??
Obama 2012 – The Only Trusted Way Forward!!
GDP down why no consumers, Europe cutting its budget
China and India GDP didn’t bring good news too but their government investing more for the future
Here republicans doing nothing blaming Obama they forget they also part of our government
Despite the GOP political rhetoric, their backers seem to be happy with the news. As of this post, the market is up 80 points.
And since this is not 1950, our economy is tied to other nations, so with a worldwide slowdown (I'm sure that is Obama's fault as well) any growth should be met with happiness.
This is normal during Summer months , always has been . Maybe not during the housing boom , but then there came the bubble. A new war could always stimulate the economy temporarily , yet that would only benefit a very few.
Most people don't instal there car elevators till the fall .
Mr. Priebus should know that !
Not surprising. Obama/Democrats continue to block all job creation efforts and are still pushing bills that would kill American jobs.
Do republicans think they have nothing to do with the slow recovery, or putting us in a near depression in 2008?
Prince Reebus should have been around when the Bush/republican party gave us a near depression.
well, yes, this is what government job cuts and any job cuts can do. That's why you need jobs bills passed. Tell it to the GOP. In spite of the GOP, we still have growth in the country.
What is not to slam? Since Obama has taken over, we have more deficits, debt and unemployment!
The blame should rest squarely on the GOP, who have blocked every single effort the President has made to better the economy. The GOP domestic terrorists need to be rounded up and shot on sight for treason. Sickening how they obstruct and filibuster while cheering on any bad economic news. Anyone who supports the GOP is giving aid and comfort to the enemy.
isn't it interesting that the great depression started when the Democrats took control of the US Senate!!!
Someone please remind the Republican party of something that they all learned in ELEMENTARY SCHOOL: POTUS cannot spend a dime without Congress authorizing it. Since they have not passed anything that he has proposed, that makes the Republicans responsible for the economy, NOT POTUS. It is amazing how they can consistently say that the President is adding $4B a day when they have not passed a budget in over three years, which makes it a Republican issue since they are the ones spending the money. Take $20 of my taxes, buy your mentally-deficient selves a book on government, and read it on one of your numerous holidays. Since this is the least productive Congress in my lifetime (Which is well over 50+ years)
Isn't it interesting that the great depression took place after the Democrats took control of the US Senate
Democrats took control of the Senate in the 2006 election ... and then in 2007 we had a great depression ... so maybe Bush is being blamed for something that Harry Reid did!