Economy

It doesn't take much to understand America's economic problems and why those problems continue -- or so says one radio personality.

Herman Cain (New Voice, Inc.)Conservative radio commentator Herman Cain says the policies of the Obama administration can be summed up in one word -- uncertainty. That, he argues, is why the economy is in the shape it is in.

"Uncertainty causes businesses to instead of focusing on growth, they're focusing on survival," he stated Monday on the American Family Radio program Today's Issues. "That's why no jobs are being created"...

New jobless benefits claims jumped last week to their highest rate since November, and Congress' chief scorekeeper said Thursday that the ongoing recovery has been "anemic" compared with past rebounds from deep recessions.

The Congressional Budget Office said that poor economic performance has sapped tax revenues and, when coupled with massive government spending designed to lift the economy, the federal government will run a $1.3 trillion deficit in fiscal 2010, a slight decrease from last year's record total.

CBO said the economy will grow at a 2 percent pace over the next year, and the unemployment rate will average 9 percent next year and won't fall to 5 percent until 2014...

The Republican National Committee (RNC) has announced a new web video that highlights what it calls President Obama's "failed economic policies."

The ad attacks the Obama administration's record on economic policies. Entitled "Deficit of Hope," the video seeks to highlight what the Republican National Committee believes to be a void between the nation's financial realities verses the media's spin that comes from the Oval Office.

Damon Dunn, GOP candidate for California secretary of state and former NFL player, thinks the party needed to produce a video which more accurately portrays the impact Obama's policies are having on average Americans...

Americans are growing more pessimistic about the economy and the war in Afghanistan, and are losing faith that Democrats have better solutions than Republicans, according to a new Wall Street Journal/NBC News poll.

Underpinning the gloom: Nearly two-thirds of Americans believe the economy has yet to hit bottom, a sharply higher percentage than the 53 percent who felt that way in January.

The sour national mood appears all-encompassing and is dragging down ratings for the GOP too, suggesting voters above all are disenchanted with the political establishment in Washington. Just 24 percent express positive feelings about the Republican Party, a new low in the 21-year history of the Journal's survey. Democrats are only slightly more popular, but also near an all-time low...

Seemingly convinced that the Obama administration has not done enough to improve the country's economic outlook, a survey of liberals and progressives show a majority believe the nation is now in the midst of a serious long-term economic decline.

The straw poll from this weekend's Netroots Nation convention of activists reveals that 53% of those surveyed believe the current economic difficulties will last for the foreseeable future. Only 35% think a positive correction is right around the corner.

In a video statement played at the convention Saturday, President Obama talked about the timing of an economic recovery that seems to match up with these numbers. "It took years to get here," Obama said. "It will take time to get us out"....

(CNSNews.com) – A majority of Americans believe President Barack Obama’s has harmed economic growth, according to a Rasmussen Reports poll Friday.

Less than a third, 29 percent, believe that the 2009 American Recovery and Reinvestment Act, better known as the stimulus package, improved the economy. Meanwhile, 43 percent believe it hurt the economy.

The survey was released the same day that the Labor Department released its monthly figures showing that while the number of job cuts were 125,000, the unemployment rate went down from 9.7 percent to 9.5 percent, or two-tenths of a percentage point. President Obama signed the $787 billion stimulus package in February 2009, vowing the bill would save or create 3.5 million to 4 million jobs...

As President Obama tries to hotwire Congress into tackling what's left of his campaign-trail promises, the economic picture is taking a severe turn -- one that may require him to once again recalibrate his ambitions in an election year.

The housing and unemployment numbers out Thursday morning underscored a disturbing trend. With the expiration of the $8,000 homebuyer tax credit, national figures from May suggest the real estate market is not ready to stand up on its own.

The National Association of Realtors released a report Thursday showing the number of buyers under contract plummeted 30 percent in May to the lowest level on record. That was after the Commerce Department reported last week that new home sales fell 33 percent last month, also to the lowest level on record.

New jobless claims also rose for the second time in three weeks, ahead of the release of June's unemployment number, which is expected to show only the slightest increase in private sector jobs...

Americans are more pessimistic about the state of the country and less confident in President Barack Obama's leadership than at any point since Mr. Obama entered the White House, according to a new Wall Street Journal/NBC News poll.

The survey also shows grave and growing concerns about the Gulf oil spill, with overwhelming majorities of adults favoring stronger regulation of the oil industry and believing that the spill will affect the nation's economy and environment.

Sixty-two percent of adults in the survey feel the country is on the wrong track, the highest level since before the 2008 election. Just one-third think the economy will get better over the next year, a 7-point drop from a month ago and the low point of Mr. Obama's tenure...

Former Florida GOP Gov. Jeb Bush has grown tired of listening to Barack Obama blame his brother, telling the New York Times he finds the president’s behavior “childish.”

In an interview with the paper, Bush said that he has had enough of Obama frequently pointing back to his brother George W. Bush’s tenure to explain economic and budget problems, as well as failed oversight of the oil industry.

“It’s kind of like a kid coming to school saying, ‘The dog ate my homework,’” the former governor said of the president. “It’s childish. This is what children do until they mature. They don’t accept responsibility.”

“He apparently likes to act like he’s still campaigning, and he likes to blame George’s administration for everything,” Bush added...

(CNSNews.com) - The middle class is abandoning President Barack Obama, according to data released by the Gallup Poll. The only income bracket among which a majority still says they approve of the job he is doing as president are those earning $2,000 per month or less.

During the week of June 7-13, only 46 percent of Americans overall told Gallup they approved of the job Obama is doing as president, tying for the worst week of Obama's presidency. Two weeks ago, forty-six percent also said they approved of the job Obama is doing, and last week 47 percent said they approved.

But when the president’s approval is separated by incomes groups, it is only the lowest income bracket recorded by Gallup—those who earn less than $2,000 per month—that gives Obama a majority approval rating, with 52 percent saying they approved of the job he is doing as president...