Are We Looking at the Same Economy?

Are We Looking at the Same Economy?

AUGUST 27, 2010

The Economy House Democrats See:
 
"Today we are moving in the right direction," Rep. Chris Van Hollen (D-MD), Chairman of the Democratic Congressional Campaign Committee in Politico, 8-27-2010
 
"The president's economic policy is working all over the country. I mean, you only have to look at results."
Rep. Debbie Wasserman Schultz (D-FL), Chief Deputy Whip of the House Democratic Caucus on Fox News' On the Record, 8-24-2010


The Economy the American People See:

Unemployment: 9.5%  (BLS.gov)

GDP: Rose at a “sluggish” 1.6% in the second quarter, “further evidence that the recovery is losing steam.”  (Wall Street Journal, 8-27-2010)

Housing Sales: "New home sales hit a 40 year low" (Washington Post, 8-25-2010) and “Existing-home sales plunge 27.2%” (Wall Street Journal, 8-24-2010)

New Jobless Claims: 473,000 for the week ending August 21 (ABC News, 8-26-2010) "We are not seeing the type of job gains that we need to generate a self-sustaining economic expansion." Robert Dye, a senior economist at PNC Financial Services in Pittsburgh