Posts Tagged ‘white house

28
Aug
14

Democrat + Forward Thinking Policies = Growing Economy

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Yahoo: Economy In U.S. Expands 4.2%, More Than Previously Forecast

The biggest gain in U.S. business investment in over two years helped the world’s largest economy expand more than previously forecast in the second quarter, raising expectations for the rest of 2014. Gross domestic product, the value of all goods and services produced, rose at a 4.2 percent annualized rate, up from an initial estimate of 4 percent and following a first-quarter contraction, Commerce Department reported today in Washington. Other reports showed the outlook for home sales improved in July, fewer people filed claims (INJCJC) for jobless benefits last week and consumer confidence climbed. Recent data showing American factories are receiving more orders and employment is picking up indicate companies such as General Electric Co. (GE) will probably see demand sustained into the second half of the year. “The recovery is becoming more well-entrenched,” said Scott Brown, chief economist at Raymond James & Associates Inc. in St. Petersburg, Florida, who correctly projected the gain in GDP.

“There is more optimism among businesses about increased demand. The drop in firings is probably helping Americans feel more secure in their jobs. The Bloomberg Consumer Comfort Index rose in the week ended Aug. 24 to the highest level in more than a month as views of household finances advanced to an almost four-month high, another report showed. Household consumption, which accounts for about 70 percent of the economy, grew at a 2.5 percent annualized rate, the same as previously estimated. Automobile sales near an eight-year high bode well for consumer spending and factory production. Consumers’ purchasing power improved, with disposable income adjusted for inflation rising at a 4.2 percent from April through June after a 3.4 percent gain in the first quarter. Gross domestic income, which reflects all the money earned by consumers, businesses and government agencies climbed at a 4.7 percent annualized rate in the second quarter, the most since early 2012. More hiring and stock-market gains that are boosting confidence also are healing household finances, which will help consumer spending. Payrolls in July marked the sixth month of gains exceeding 200,000, the longest such stretch since 1997, according to the Labor Department.

More here

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

1. Real gross domestic product (GDP) increased 4.2 percent at an annual rate in the second quarter of 2014, according to the second 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.

3. Over the last four quarters, real GDP has risen 2.5 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, which is discussed in greater detail in the next point.

More here

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09
Aug
14

Have A Wonderful, Richly Deserved Vacation

Not that the President will get much of a break….

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04
Aug
14

Night Owl Chat: President Obama Sings

President Obama sings Aretha Franklin, Dionne Warwick, and Al Green

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Continue reading ‘Night Owl Chat: President Obama Sings’

18
Jul
14

First Lady Michelle Obama Celebrates Kid Chefs

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First Lady Michelle Obama hosts the “Kids State Dinner” in the East Room of the White House. The White House treated more than 50 kid chefs to a “state dinner.” The children earned a seat at the table by whipping up mouth-watering yet healthy meals as part of a nationwide contest sponsored by the food magazine Epicurious and the Education and Agriculture departments

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First Lady Michelle Obama hugs last year’s winner from Delaware, Braeden Mannering

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First Lady Michelle Obama and President Barack Obama confess that their favorite junk foods are french fries (her) and chips and guacamole (him)

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President Barack Obama teases First Lady Michelle Obama when she says she is taking a break from french fries

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@dougmillsnyt: FLOTUS reacts when POTUS reveals that she like likes french fries. FLOTUS says “I’m taking a break” from them.

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11
Jul
14

A Picture Is Worth A Thousand Words

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First Lady Michelle Obama tours the Brown v. Board of Education National Historic Site in Topeka, Kan., May 16, 2014. Stephanie Kyriazis, Chief of Interpretation and Education, leads the tour. (Official White House Photo by Chuck Kennedy)

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President Barack Obama kisses First Lady Michelle Obama during her remarks at an Affordable Care Act reception in the East Room of the White House, May 1, 2014. (Official White House Photo by Pete Souza)

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President Barack Obama adjusts a lapel pin for Vice President Joe Biden in the Outer Oval Office, May 23, 2014. Ferial Govashiri, Personal Assistant to the President stands at right. (Official White House Photo by Pete Souza)

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President Barack Obama greets guests during a Federal Judges Association reception in the East Room of the White House, May 6, 2014. (Official White House Photo by Pete Souza)

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Dr. Jill Biden and White House Assistant Pastry Chef Susie Morrison help children plant scarlet runner beans to be presented during a Joining Forces initiative tea honoring military mothers in the State Dining Room of the White House, May 12, 2014. (Official White House Photo by Chuck Kennedy)

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First Lady Michelle Obama joins students from Lame Deer Junior High School for a group photo in the China Room of the White House, prior to the White House Talent Show hosted with the President’s Committee on the Arts and the Humanities, May 20, 2014. (Official White House Photo by Amanda Lucidon)

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A soldier hugs President Barack Obama following his remarks at Bagram Airfield, Afghanistan, Sunday, May 25, 2014. (Official White House Photo by Pete Souza)

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President Barack Obama holds a bobblehead doll of himself in the Outer Oval Office, May 14, 2014. (Official White House Photo by Pete Souza)

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President Barack Obama hugs children participating in the White House Healthy Kids & Safe Sports Concussion Summit, in the East Garden Room of the White House, May 29, 2014. The President met with the group indoors when their South Lawn event was canceled due to weather. (Official White House Photo by Pete Souza)

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08
Jul
14

The President’s Day

@dougmillsnyt: President Obama meets with NATO Secretary General Anders Fogh Rasmussen in the Oval Office

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Yahoo: NATO Chief Warns Afghanistan Must Sign Security Pact By Early September

NATO’s chief warned Tuesday that, despite a disputed election, Afghanistan must sign a security pact on a post-combat international training mission by September, or there will be “severe” problems for the Western alliance. Anders Fogh Rasmussen said after meeting President Barack Obama that allegations of poll fraud were a “grave concern”

More here

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@dougmillsnyt: [President] Obama steps off Marine One and boards Air Force One at Andrews Air Force Base for a trip to Denver, Colorado

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President Obama steps from Air Force One upon his arrival in Denver with Rep. Ed Perlmutter

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President Obama greets people at Wazee Supper Club in Denver, July 8




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