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New signs today that some suggest show that the US economy is tapping the brakes the GDP year gross domestic product the first reading for the first quarter.
Shows a growth rate of 2.2 percent that's less than expected.
The white house calls today's report encouraging but says more growth is needed to get the economy back on track Charlie -- is a columnist for the Washington.
I was gonna talk about the politics of all this hi Charlie.
-- -- nice to have you with us today.
It is showing growth we are not in recession so members like this are they high end NAFTA not really be a liability.
For the president as he -- the election season.
Well -- certainly not as high as as I think the president the president would like to see right now but I would actually argue that these numbers kind of don't really helped argument of either side it does show improvement which is good in which everybody wants.
But it's not the kind of improvement that President Obama needs to bring down unemployment.
And and but at same time if he's going in the the right direction so it doesn't really help.
Make the argument that this is you know that that that we're sliding backwards or something like that.
But Mitt Romney has been making the argument that the recovery has been anemic and that they haven't -- and that president Obama hasn't done enough.
And the real numbers at the end of the day -- will be unemployment and real unemployment and whether people are fully employed.
Because you know come November.
You know if if people -- we're still looking at.
Nearly double digit unemployment.
And and perhaps even higher than that in in terms of people who are not fully employed or or people who just given up looking.
Then that's it is that will be reflected as a very as as -- dissatisfaction with the current administration and will be very bad news for president Obama's -- -- -- It's an interesting observation that it really hasn't -- both sides let's expand a little bit more on that Charlie it does this surprise you at this points.
That we don't see more aggressive ideas.
At about either camps in new job plans or some new ideas to help the economy -- is that surprising to you that there seems to not be that.
Pitch at this moment.
As you know -- in Washington.
There's there's sort of -- that one of them -- biggest truest true isn't.
Is nothing dramatic ever really happens today and an election year because nobody wants to do anything that's risky.
What are we gonna do internally we have a lot of talk about in the next couple -- -- I think I know I know.
But -- did admit they're just they're -- big people politicians get very risk averse in an election year.
And so I think what we're -- wind up having is this continued argument by President Obama.
That you know that that it would have been so much worse if he hadn't taken the -- -- that he's taken.
And and the argument by Mitt Romney that says you know that that we you know that he should have done so many other things and so much more.
That that this is it that the reason that this this recovery so anemic is because Obama hasn't done the right things.
And I and and neither neither argument in my book puts it out of the park.
But I do think that that the -- swans of being on the incumbent on President Obama because people get kind of tired of this argument that -- you don't know how much worse it would have been.
Let me tell you that a little bit because it comes down we had known where the unknown right at this point the American people.
No more or less what the president's plan is for the economy because he's been president for a couple years as far as Mitt Romney.
We we haven't seen as president do you have an unknown at the right he's part of the -- now and sometimes during times of where there's not a lot of confidence in the economy.
You go with what's known simply because it's less scary than the unknown what how that factors and -- the election this time round.
I think I think it's great point but I would I would actually argue that it in a case like this where you have.
Mitt Romney has has nothing go before he's not cool guy he's not a sexy guy he's not he's not you know the one he's not like.
Barack Obama in 2008 the only thing he has is his business record.
And that is the only campaign he is running and I I would actually argue he's doing a very good job of of sort of just staying with the nuts and bolts the -- exciting.
I've I can do something with the economy.
And I think that that contrast it.
And it is it is it is an excellent point you make but I think that if he is able to make that contrast and and carry all the way to November and and have people just sort of plausibly trust him but mainly associated him with his successes -- Bain Capital and with the Olympics and things like that.
Then then it's -- President Obama will have a very hard time sort of.
Vilifying him as the unknown well maybe the definition of cool what changed as well it didn't shift on a regular basis and you know -- -- -- -- I've never involved you know I had entirely.
Charlie -- -- -- you as always thanks again you.
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