A new economic report showed the U.S. recovery losing its momentum, indicating that the unemployment rate will remain high right up to the November election. The rate of economic growth between April and June slowed to an anemic 1.5 percent, below the 2 percent gain reported in the first quarter of the year, and economists say they do not expect growth to increase substantially in the next few months. Faltering consumer spending and a contracting public sector served as a major drag. “The U.S. economy is barely growing,” said economic analyst Dan Greenhaus. “It’s no wonder the unemployment rate cannot move lower.”
“It’s important to understand how unusual this kind of weak recovery is,” said The Wall Street Journal in an editorial. Historically, deep recessions have been followed by vigorous recoveries, “as there is more lost ground to make up.” Obama’s economic policies have clearly failed. Voters may not blame Obama for the Great Recession, said the Washington Examiner. But this dismal recovery has occurred on his watch, and Americans have “no confidence whatsoever in his ability” to right the ship. He’s in real “danger of losing in November.”
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