Economy

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...

With the midterm election just five months away, American voters are angry at incumbents, distrustful of the federal government, dissatisfied with the way things are going in the country and feeling gloomy on the economy.

A Fox News poll released Friday shows voters are angry at everyone in Washington. When chatting about the election, 32 percent of voters say their friends and neighbors are most angry with all members of Congress. Ten percent say people are mostly angry with Republicans and 9 percent say mostly with Democrats. Another 19 percent say their neighbors are angry with President Obama. Only 9 percent say their friends aren't angry at all.

Before the 2006 midterms, 44 percent said their friends and neighbors were angry at President Bush, and 20 percent said all incumbents (26-27 September 2006)...

The Senate on Thursday cleared remaining hurdles and easily passed a sweeping Wall Street reform bill, handing President Obama a victory even as a new financial crisis swept U.S. and global markets.

Mr. Obama took to the Rose Garden to hail the break in the Senate's four-week logjam only minutes after the Dow Jones Industrial Average plummeted by 376 points, or nearly 4 percent, to 10,068, in the stock market's latest fraught reaction to a burgeoning European debt crisis...

WASHINGTON – The number of people filing new claims for unemployment benefits unexpectedly rose last week by the largest amount in three months. The surge is evidence of how volatile the job market remains, even as the economy grows.

Applications for unemployment benefits rose to 471,000 last week, up by 25,000 from the previous week, the Labor Department said Thursday. It was the first increase in five weeks and the biggest jump since a gain of 40,000 in February.

The total was the highest since new claims reached 480,000 on April 10. It also pushed the average for the last four weeks to 453,500...

A veteran Republican senator believes President Obama's "stimulus" package is continuing to destroy economic growth and private sector employment.

The Labor Department reported yesterday that the number of people who joined the unemployment lines went up again last week as the number of those applying for unemployment benefits rose by 18,000 to a seasonally adjusted 460,000.

Senator Chuck Grassley (R-Iowa) says the Obama administration's job-creation efforts are not working...