Posts Tagged ‘housing

08
Jan
15

The President’s Day

Children wave at President Barack Obama’s motorcade as he visits Phoenix on Jan. 8

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People wait in line to get into Central High School in Phoenix to see President Obama speak

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Barack Obama

President Barack Obama speaks about housing and home ownership and announces a cut in mortgage insurance premiums on Federal Housing Administration loans, at Central High School in Phoenix

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President Obama, joined by Housing and Urban Development Secretary Julian Castro speaks outside a home in a housing development in Phoenix

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President Obama, joined by Housing and Urban Development Secretary Julian Castro, left, and Chicanos Por La Causa’s Edmundo Hidalgo, right, and David Adame, speaks outside a home in a housing development in Phoenix

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(Doug Mills)

U.S. President Barack Obama greets a woman and child during a visit to a Phoenix neighborhood

A woman is surprised when she runs into President Barack Obama in her neighborhood

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Barack Obama

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Barack Obama

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@dougmillsnyt: President Obama board Air Force One in AZ, for his trip back the Washington.

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President Barack Obama signs a condolences book during a visit to the French Embassy

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President Obama stands with France’s Ambassador to the United States Gerard Araud as he pays his respects over the attack at the French newspaper Charlie Hebdo, during a visit to the French Embassy in Washington

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29
Sep
14

More Positive Economic News? Thanks, President Obama

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NYT: Business Spending, Exports Spur Big Bounce In U.S. Economy

The U.S. economy grew at its fastest pace in 2-1/2 years in the second quarter with all sectors contributing to the jump in output in a bullish signal for the remainder of the year. The Commerce Department on Friday raised its estimate of growth in gross domestic product to a 4.6 percent annual rate from the 4.2 percent pace reported last month. The United States is bucking a spate of weaker overseas growth with the euro zone and Japan slumping, and growth in China slowing as well. the expansion in consumer spending, combined with strong business investment,

was nevertheless enough to push domestic demand ahead at its fastest pace since 2010. That suggests the economy’s recovery is becoming more durable after output slumped at a 2.1 percent rate in the first quarter because of an unusually cold winter. So far, data covering manufacturing, trade and housing suggest that much of the second quarter’s momentum spilled over into the third quarter. Growth estimates for the July-September quarter range as high as a 3.5 percent pace. When measured from the income side, the economy grew at a 5.2 percent pace during the second quarter…export growth was raised to an 11.1 percent pace, the fastest since the fourth quarter of 2010, from a 10.1 percent rate.

More here

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Jason Furman: Third Estimate of GDP For The Second Quarter Of 2014

1. Real gross domestic product (GDP) increased 4.6 percent at an annual rate in the second quarter of 2014, the fastest pace since the fourth quarter of 2011, according to the third estimate from the Bureau of Economic Analysis. The strong second-quarter growth represents a rebound from a first-quarter decline in GDP that largely reflected transitory factors like unusually severe winter weather and a sharp slowdown in inventory investment. Growth in consumer spending and business investment picked up in the second quarter, and residential investment increased following two straight quarters of decline. Additionally, State and local government spending grew at the fastest quarterly rate in five years. However, net exports subtracted from overall GDP growth, as imports grew slightly faster than exports.

Real gross domestic income (GDI), an alternative measure of the overall size of the economy, was up 5.2 percent at an annual rate in the second quarter. 3. Over the past four quarters, real GDP has risen 2.6 percent, faster than the 2.0 percent annualized pace observed over the preceding eight-quarter period. Looking at four- and eight-quarter changes to smooth some of the quarter-to-quarter volatility, it is clear that many components of GDP are showing improvement. The growth rates of consumer spending, business investment and exports have all picked up, and the pace of declines in the Federal sector have moderated a bit. In addition, the State and local government sector has turned positive, after several years of steady cutbacks. One area that has slowed over the last four quarters is residential investment, although it did rebound in the second quarter.

More here

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30
Aug
14

President Obama’s Policies Aren’t Working? Tell Us Another Lie, GOP

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