White House surprisingly upbeat about economy
July 27th, 2012
03:57 PM ET
2 years ago

White House surprisingly upbeat about economy

(CNN) - The U.S. recovery has hit a speed bump this year, slowing significantly in the first half of 2012.

But that didn't seem to get the White House down. The Obama administration released surprisingly upbeat economic forecasts Friday, when it revised the President's budget to include recent data.

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Filed under: Economy • Obama administration
soundoff (27 Responses)
  1. Wire Palladin, S. F.

    Obama has created over 4 million jobs created in his term, compared to Bush's record of 1 million created in two terms. Bin Laden is dead, and we are out of one of the unnecessary republican wars, stock market is up, and wealthy corporations sitting on over $2 trillion are starting to loosen up and release their money.

    July 27, 2012 04:09 pm at 4:09 pm |
  2. Rudy NYC

    They passed the highway bill. Finally. The GOP stalled just enough on it so that the spending will be next to nothing this year. Next year is going to be a better year than this year because of the highway bill.

    July 27, 2012 04:10 pm at 4:10 pm |
  3. Hammerer

    Just shows that Obama has no clue about economy at any level. To say that his plan "is working" speaks volumes of his understanding, that is if he is really interested in creating jobs and growing the economy.

    July 27, 2012 04:21 pm at 4:21 pm |
  4. Woman In California

    I'm upbeat to because the American people are beginning to see and appreciate the fact YOU are in the White House and not some PASSED OVER candidate by the name of Willard Romney.

    July 27, 2012 04:22 pm at 4:22 pm |
  5. Nonpartisan American First

    @Wire and Rudy: Your comments are correct. Things are starting to improve as I knew would happen. It is always better to be positive than negative. Have a great weekend.

    July 27, 2012 04:30 pm at 4:30 pm |
  6. Dave

    Surprisingly is the key word. Why would anyone taut deficits, debt and unemployment? And this is success? I would hate to see failure!

    July 27, 2012 04:30 pm at 4:30 pm |
  7. Four and The Door

    The private sector is doing fine. And if there are not enough companies hiring, let Obama spend another $3 trillion and the government will build more companies. ( like Solyndra? )

    July 27, 2012 04:31 pm at 4:31 pm |
  8. Wire Palladin, S. F.

    As an observer at the Olympics, will Ann make Mittens wear a riding helmet, riding boots and sport a riding crop? I think most Americans like to have the wealthy rub our noses in their elitism.

    July 27, 2012 04:33 pm at 4:33 pm |
  9. LISA.GOLD

    REAL unemployment in the TEENs – Black/Hispanic unemployment near 20s – GDP below 2 –
    BO wasted $6,000,000,000,000.00 in first term – GM owes USA citizens $70,000,000,000.00 – Gas heading back to $4.00 – His Job CZAR GE Jeff has off shored 10,000,000 jobs – BO bundler$ all got plushy Crony Gov Jobs -These upbeat stats can go on & on – Romney/Rubio to clean up very soon

    July 27, 2012 04:34 pm at 4:34 pm |
  10. Wire Palladin, S. F.

    If Obama inherited a $12 trillion national debt and a near depression, why is Obama responsible for all the $15.7 trillion of national debt?

    July 27, 2012 04:40 pm at 4:40 pm |
  11. Four and The Door

    Wire Palladin, S. F.
    As an observer at the Olympics, will Ann make Mittens wear a riding helmet, riding boots and sport a riding crop? I think most Americans like to have the wealthy rub our noses in their elitism.
    _____________________________________________________________________________________________
    Reading your post I will suggest that Mitt and Ann Romney are not the ones with an issue to get over.

    July 27, 2012 04:42 pm at 4:42 pm |
  12. Wire Palladin, S. F.

    I think most Americans prefer President Obama's plan of investing in our country instead of the failed republican austerity plan that gave us a great depression, a near depression, and gave most of Europe their current near depression.

    July 27, 2012 04:43 pm at 4:43 pm |
  13. NOT BACKWARD into the GOP FISCAL ABYSS

    @Dave – And this is success? I would hate to see failure!
    ------------------------
    Dave, you saw failure !! It was called the Bush Administration. Dubya added $6 TRILLION to the national debt over 8 yrs, taking it up to $11T by the time he left office. Good thing he wasn't allowed to stay longer eh?
    Then there's the small matter of TWO unfunded illegal wars (for which Obama paid more than $3T), an $850 BILLION TARP bailout, the highest gas prices in history (July '08), 9/11, loss of more than 700,000 job a month when Obama took office. While we're not quite out of the doldrums (we've had NO help from the Grand Obstructionist Party in 4 yrs), Obama has done a great job, so of course the WH is optimistic. Most Americans are.. but the right wing simply cannot stand it as it comes from Obama.

    July 27, 2012 04:44 pm at 4:44 pm |
  14. Bootstomper

    Dow jones closes over 13,000, GOP kills jobs bill because they really want the economy to fail.

    July 27, 2012 04:46 pm at 4:46 pm |
  15. anotherGDlefty

    Dave
    Surprisingly is the key word. Why would anyone taut deficits, debt and unemployment? And this is success? I would hate to see failure!
    ___________________________________________________________________________________________
    Short memory Dave?
    You witnessed failure on a massive scale from 2000-2008 but don't seem to remember it.

    July 27, 2012 04:49 pm at 4:49 pm |
  16. Wire Palladin, S. F.

    Four – Thanks for the smile. I must be doing something right.

    July 27, 2012 04:50 pm at 4:50 pm |
  17. Anonymous

    Wire Palladin, S. F.

    Obama has created over 4 million jobs created in his term, compared to Bush's record of 1 million created in two terms.
    ------------------------
    But then again unemployment wasn't over 8%

    July 27, 2012 04:54 pm at 4:54 pm |
  18. rrd

    Obama has created over 4 million jobs created in his term, compared to Bush's record of 1 million created in two terms.

    -------------------
    But then again unemployment wasn't over 8% either

    July 27, 2012 04:55 pm at 4:55 pm |
  19. Claudia, Houston, Tx

    When you're succeeding remember there will always be those who will always fight to hold you back otherwise there would be no fight. If Americans can't see that's exactly why Republicans have been fighting President Obama so hard knowing he had the tenacity to succeed. As often said "You can't hold a good man down and if God is with you let no man be against you".

    July 27, 2012 04:55 pm at 4:55 pm |
  20. Lynda/Minnesota

    After having spent the past decade in a glass half empty mode, the glass half full rhetoric is refreshing and much needed, especially during a summer of Olympic competition.

    July 27, 2012 04:58 pm at 4:58 pm |
  21. Jules

    Dow closes over 13,000 – what was it at when Bush left office? About half that. That is good news for all of us with 401k's and other retirement plans. If the jobs bills that have been submitted to the house by this administration were passed, you would see unemployment fall. But, the GOP would rather more people don't go back to work until after the elections. Party before Country and if you forget it, you pay a price.

    July 27, 2012 05:03 pm at 5:03 pm |
  22. Ed1

    And the private sector is doing just fine.

    July 27, 2012 05:05 pm at 5:05 pm |
  23. rrd

    NOT BACKWARD into the GOP FISCAL ABYSS

    @Dave – And this is success? I would hate to see failure!
    --------
    Dave, you saw failure !! It was called the Bush Administration. Dubya added $6 TRILLION to the national debt over 8 yrs

    --------------– ---------–
    You need to check your figures. The deficit went up 4.899 trillion during Bush's eight years. The deficit has gone up 4.939 trillion so far under Obama

    July 27, 2012 05:07 pm at 5:07 pm |
  24. Four and The Door

    Wire Palladin, S. F.
    I think most Americans prefer President Obama's plan of investing in our country instead of the failed republican austerity plan that gave us a great depression, a near depression, and gave most of Europe their current near depression.
    ____________________________________________________________________________________________
    Did you miss the entire November 2010 thing? Americans were clear. Cut the out-of-control spending. It doesn't work.
    ( Obama calls it 'investing' to suggest perhaps that $2 million for each temporary job is somehow a good Return on Investment? )

    July 27, 2012 05:11 pm at 5:11 pm |
  25. Woman In California

    And this is success? I would hate to see failure!

    Yes, it is because anytime you are adding and not substracting to the number of jobs created it is success and most of us appreciate that. Not to mention we haven't been attacked, our stocks are rebounding and our standing in the world is much better than it was four years ago and for those things, I am grateful.

    July 27, 2012 05:17 pm at 5:17 pm |
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