(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."
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"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.
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@John,PA – It’s been 5 yeasrs; the weak economy is squarely on the Democrats in Congress and president Obama.
John, you've been slurping too much of the Grand Obstructionist Part cool-aid spouted propaganda from Faux Noise. Here's the SIMPLE FACTS.
From 1995 thru 2007, BOTH houses of Congress have been controlled by the GOP, with the exception of a split in 2001. In 2007, the Dems took control of both – which tells you all you need to know about the worst President in history and what the American people thought of him.
Remember, Congress initiates legislation – including budgets – not the POTUS.
FACT is, the GOP has added more to the National Debt during their control of both houses than ever attributed to Obama.
Both parties are trying to completely stonewall each other in an attempt to deface the other. Repubs fillibuster every beneficial piece of legislation, then blame Obama for not doing anything, while the Dems keep using "popular opinion" on complex subjects to make the Repubs look like a joke for not automatically siding with what "sounds pretty". This political war is destroying our country far faster than any depression could.
Oxy-morons ~ voice of reason, true conservative ~ thanks for the laughs.
If we had ever a real recovery or if Obama’s plans and policies had been fully enacted then all these lizard brains claiming the he responsible would have some credibility.
Sadly, they haven’t and they don’t.
But thanks for playing; in the future a little independent thought and honesty would be helpful.
Bottom line is, it seems to be proven that Republicans running enough negative adds CAN buy the election (Republican sheep believe the spin put on Fox News, instead of analyzing the facts for themselves)! Don't let them do it America! Obama 2012!
Remove all Republicans/Tea Party from the House and you'll see the economy improve! If you don't like it, GET OUT OF THE COUNTRY!
A look at the GDP growth rate since the great republican recession started shows conclusively the turn around of the economy was in full swing until the party of NO took power in the house. Since then it has been an uphill battle. Economic turn around can only occur when we take back America from the hands of the supply siders. Their misguided ( you can substitue stupid, treasonous or any other word you please including moronic) approach has led to not only the economic crisis and the raping of the middle class , but also is responsible for the ENTIRE national debt.
When is it a good time for a president to take responsibility for the state of the US economy. After 3 1/2 years? Maybe three months before the end of his first term? BTW.. Obama was quick to comment on the Colorado "joker", but has been ignoring the murders in his home city Chicago... FYI, according to RedEyeChicago.com, which tracks the monthly number of murders, 294 persons have been murdered in 2012 as of July 23. He should have been doing something about that a long time ago.
To all the GOP'ers that ran on the platform of "jobs jobs jobs" in November 2010...WHERE ARE THE JOBS YOU PROMISED? do you really think we're THAT stupid to not remember your chants and promises? and do you really think we the people are stupid NOT to see what you and your colleagues have been doing for the past 3 years and saying NO to every job creating bill Obama and dems try to get passed? the right is delusional and liars! NO way in hell i'd ever vote for any of them.
Time to give Obama a congress that will WORK WITH him instead of AGAINST HIM AND OUR COUNTRY!
VOTE EVERY TEA PARTY NUT JOB AND RIGHT WINGER OUT!
OBAMA 2012 !!!!
What did Republican House Minority Leader Mitch McConnell say "the single most important thing we want to achieve is for President Obama to be a one term President". With that said, they have no ground to stand on or complain about the economy or anything else because they did nothing else. The Obama campaign needs to remind Americans of McConnell's words.
I know! Let use the GOP Job Pan to "jump start" the economy!
Let's start one or more unfunded wars and cut taxes!
GDP growth of 1.5% is not sufficient. But it is still a sight better than what President Obama had to dig us out of–three quarters of -3.7, -8.9, and -6.7–from his predecessor.
Is this a good time to thank our United States Congress for helping improve the 2007 economic disaster by spending the past 2 years dealing with abortion issues and other really great non-job initiative programs they have each spent thousands of hours on to pass legislation of while ignoring their own Jobs!Jobs!Jobs! mantra from Campaign 2010?
Could things be better? Absolutely. But for a guy who has been left to do it alone, Obama has kept us from total disaster - no thanks to the whiners and tantrum throwers.
Bit hypocritical of GOPers to suggest otherwise, all things considered.
This headline is very interesting "GOP jumps on Obama". Under the Bush administration, it would be "The media jumps on Bush". The question is where is the media's voice in holding our president accountable for this poor performance. He has had 3 1/2 years in office and the media (as well as the president) behaves as though Bush is the oval office. When Bush and the GOP made mistakes (and they did), I did and do criticize them. How about getting some objective reporting from CNN and all the other alphabet lineup.
Thank God the Republicans got the House in 2010, but with Harry "The Obstructionist" Reid still in power we are unable to fix this catastrophic mess. Even GM is allowed to export jobs!
Win The Senate, boot out the Socialist in the Senate and White House. Save America.
The GDP is down because the GOP refuses to act! The job numbers are down because we have a House that does absolutely nothing, except pass laws restricting abortion and bringing down heath care. Low GDP is directly correlated to the incompetent GOP. Most rational Americans will vote to re-elect President Obama and in fact, I predict a take over of the House as well. God Bless America!
Sooo... what are they doing to help the GDP besides blaming one person for it??
Do they really expect Obama to turn around the mess they left us with in only three years. Had the GOP House worked with Obama we would be in a much better place today.
umm..sure..says the GOP jobs jobs jobortions party..what have THEY done other than defy everything the prez has tried to do to get this country back on track..perhaps they should look within before pointing to others...JERKS
It wasnt that long ago when Obama said that if the economy wasnt better in 3 years that he would be held accountable. Now its not his fault and everybody elses. Neither side wants to compromise, they just want things their way. Politics become more of a joke everyday. People need to hold both parties accountable. America needs to stop looking to see what political party it is running and look at the individual. Too many pull the lever for someone that is running for an office because they are a democrat or because its a republican. As long as we as Americans vote the y way we do this will only continue and probably get worse. Time to start voting for the actual best candidate and not who has the most money or what their party is. Pick someone that is closest to your values and have a plan to take America in the right direction instead of blaming each and not getting any results. Apparently its above their intelligence for both parties to come up with a plan and then work together to combine those plans to make a better plan for us all. It's time for the politicians to start listening to us and quit trying to control us.
For three and a half years the GOp have been going around the country saying that President Obama hasn't done much to improve the economy and help the American people but that is bogus! Decide for yourself...Google the 2009 American Recovery and Re-investment Act, the 2010 Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act and then decide for yourself. O' and while you're at it, just google "moving america's small business & entrepreneurs forward" and decide for yourself if President Obama has really let down the American people! Let's face it, President Obama has served the American people by taking action while his opponents have babbled with empty promises!
Fair is Fair wrote:
Well, BY ALL MEANS, put it forth. The FACT is that all Obama has is more spending. bigger government, and more spending. He and his economic policies are a complete, utter, and TOTAL failure. He's a one-trick pony and he couldn't even get that right. Time for a change
The bigger spending charge is a flat out lie, and you know it. Annual spending is only 1.4% higher than what it was during Bush's final fiscal year.
If Pres. Obama's economic policies are a total failure, then you had better consider what his policies have been. They've come straight from the conservative economic playbook: no spending increases and tax cuts. The only difference between Obama and Bush has been the fact that Bush increased spending 7 to 8% per year, every year.
I have come to see that the real problem in our politics stems from our policy of letting politicians control redistricting. Districts are so gerrymandered that each district contains majority for the party that does the redistricting. This should be done by a non-partisan group based soley on population. Having highly partisan districts leads directly to highly partisan congressmen and senators. If the districts were split, with a more representative and even mix of Republicans and Democrats then you would get more middle of the road centrist representation that might actually get something done for the majority of the country.
Perhaps they would prefer the negative 6% GDP prior to the President taking office. Seems that way since they obstruct any and every jobs bill proposed. Convenient when you are in a position to sabotage and then claim "it isn't working". I guess they also are too dishonest to connect the dots between China's growth slowing, Europe in recession and the U.S. growth slowing. Doesn't matter who is in the WH under those circumstances – we don't exist in an economic vacuum.
GOP is very good at finger pointing, they just don't like pointing at themselves.
Look in your skivvy waistband to see where what your are putting next to your jewels is made. Likely not in America. What are you doing about that? Still going to Walmart? There are a few department stores that have Made in USA goods. You just have to be aggressive in your search.