Morning Briefing: Economists warn of Congressional inaction
September 28th, 2011
08:25 AM ET

Morning Briefing: Economists warn of Congressional inaction

Good news for the White House today as Bloomberg News releases a new survey of 34 economists this morning that shows most think the president’s jobs plan would help stave off a double-dip recession. The economists’ median estimates predict the plan “would increase gross domestic product by 0.6 percent next year and add or keep 275,000 workers on payrolls. …The program would also lower the jobless rate by 0.2 percentage point in 2012, economists said.” [Bloomberg]

One symptom of the flailing economy that was largely left out of the president’s jobs plan is the housing market, but reports out today from the Mortgage Bankers Association show that stimulus efforts taken by the Federal Reserve have had at least some effect. Mortgage applications filed in the U.S. last week rose 9.3% from the previous week, and refinance activity climbed 11%. [Dow Jones Newswires]

Here are a few other stories the White House is reading this morning:

S&P 500 Index Futures, Stocks Advance as Commodities Pare Losses [Bloomberg]

Stocks: Europe enthusiasm growing [CNN Money]

China Set to Enter 'Space Age' by Launching Own Space Station Module [International Business Times]

Surveys: Health insurance costs shifted to workers, even as premiums surge [Washington Post]

Republican field: They may be rich but do not call them elite [Los Angeles Times]

Romney camp says fund-raising is down [Boston Globe]

Reelection won’t be easy, Obama strategist says [Boston Globe]

Iran planning to send ships near U.S. waters [CNN Wire]

CNN Poll: Trust in government at all time low [CNN Political Unit]


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soundoff (4 Responses)
  1. Rick McDaniel

    Let's face it.......harry Reid has zero intention of allowing the HOuse to get any legislation through the Senate, so not much will pass until January 2013, after Obama is sent packing.

    September 28, 2011 at 4:20 pm |
  2. Liz Carter in Georgia

    Stop trying to blame it on Harry Reid! The House has obstructed everything, if not torn down and picked apart everything the Dems and President Obama has EVER put forth to include their own devious, anti-layman American footprints, period! OBAMA has been forced to accept their BS in order to get most of the bills he's signed and passed at ALL, to the anger and detriment of his OWN base! And it's STILL not enough! What else do you haters want? The racist GOP/T-party lunatics are full of S**T! That's IT!

    October 5, 2011 at 3:37 pm |
  3. Liz Carter in Georgia

    Oh...and just so you know, he won't be sent packing in 2013, because most political watchers of ALL persuasions and ethnicities aren't CRAZY! We know exactly what's REALLY going on, as shrouded in politics, media spin and BS! OK?!?

    October 5, 2011 at 3:45 pm |
  4. C-Lo

    Liz, it was well documented in the MSM that Harry Ried would not allow House Bills to see the Senate floor during the summer 2011 impasse. There was no compromising from either side, the closest thing to compromise was agreeing to one point while adding another tick to their own side "tit-for-tat" if you will.

    I read in the paper this morning that Boehner had announced that he'd let the Obama bill come to a vote in the House, and found the following on http://thehill.com/blogs/floor-action/senate/185455-reid-blocks-mcconnells-call-for-an-immediate-vote-on-obamas-jobs-plan

    In a lively spat on the Senate floor Tuesday, Minority Leader Mitch McConnell (R-Ky.) attempted call up President Obama’s jobs plan for an immediate vote in the upper chamber. (you should read it all for full effect of what's happening).

    Additionally, I understood Obama wanted the bill passed as his administration wrote it, but it's now the Dem's holding it up and trying to make all of their own amendments to it. Yes, Ried is an obstructionist.

    I'm sorry you find my responses to people "arrogant and haughty" My other choice is to type bumpersticker slogans and 2 word responses, which then make me an "idiot, tea-bagger racist full of S**T." So I'll just have to continue to call out those I see fit, and it will either come across as arrogant or ignorant, because you disagree with my stance.

    As far as any responses to "jean" they will probably almost always come across as snide, because:
    a) I don't believe "she" is who "she" represenents "herself" to be;
    b) The times I've tried to start a dialog with "her" "she" retorted with hate; and
    c) I think "she" is a hateful, angry, mean individual who is so blinded that "she" strikes out, like a coiled rattlesnake full of venom.

    Wiith you, at least I believe you say who you are, you have a deep rooted anger toward the wrongs you have witnessed.

    Anyway, hope all is well. Hope you can forgive my arrogance :-)
    However, Senate Majority Leader Harry Reid (D-Nev.), who supports the legislation, blocked the vote.

    October 5, 2011 at 4:26 pm |