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Economic news you might have missed

July 6, 2012
The Journal

One reason President Barack Obama and liberals in Congress have been talking so much about their Supreme Court victory regarding the health care law is that they are hoping Americans don't notice the other news of the past week. Here's a sampling of what they'd prefer you missed:

Unemployment has barely budged this year. It sits at about 8.2 percent.

U.S. manufacturing output thus far this year is below last year's level. That marks the first time in three years the manufacturing sector has contracted rather than grown.

Consumer spending did not improve between April and May, according to the government.

Wages paid to U.S. workers also remained flat during the past month.

The Federal Reserve has amended its growth forecast for the remainder of this year, downward.

And before you agree with the liberals that big business is enriching itself at the expense of the little guy and gal, consider that corporate profits fell during the first quarter of the year.

Early in his presidency, Obama said that if he didn't find a way to improve the economy, he'd be a one-term president.

Well ...



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