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Economy Still Too Weak to Save Dems in Nov

Posted on May 1 2010 9:11 am
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by Eli Lehrer

Today’s GDP growth numbers are pretty good news for President Obama and pretty bad news for Democrats in Congress. They’re probably not enough to impact all-but-certain massive Democratic losses in this November’s elections but could well signal an economic trend that will lead to Obama’s reelection in 2012.

Here’s why: the reported growth of 3.2 percent is good but not great. It’s roughly par for the course in the post-1970s U.S. economy. In technical terms, it signals the end of the recession but, obviously, sky-high unemployment and still sagging wages leave many individuals feeling down.

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