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Will Speaker Boehner Sink U.S. Economy With “Whale Of A Fight” Over Debt Ceiling?

Aug 27, 2013

IS IT REALLY TIME FOR A "WHALE OF A FIGHT" OVER THE DEBT CEILING?

Speaker Boehner now:

"But I'll say this: It may be unfair but what I'm trying to do here is to leverage the political process to produce more change than what it would produce if left to its own devices. We're going to have a whale of a fight." [Idaho Statesman, 8/27/13]

Speaker Boehner a few months ago:

"We got the debt limit out of the way so that we weren't jeopardizing the full faith and credit of the United States government." [PBS Newshour, 2/6/13]

THE ECONOMY IS IMPROVING AND THE DEFICIT IS FALLING

Consumer Sentiment at 5 Year High:

"Americans' confidence in the economy inched closer to a 5 ½-year high on growing optimism that hiring and wages could pick up in coming months. The Conference Board, a New York-based private research group, said Tuesday that its consumer confidence index rose to 81.5 in August. That's up from a revised reading of 81 in July. And it's just below the 82.1 reading in June, which was the highest since January 2008." [AP, 8/27/13]

41 Straight Months of Private Sector Job Creation

Under President Obama's leadership, the economy has added private sector jobs for 41 straight months. During this span, 7.3 million private sector jobs have been created. [DPCC, 8/2/13]

Jobless Claims Remain Near 5 Year Low:

"The number of U.S. workers seeking new unemployment benefits rose last week but remained near five-year lows, a sign of an improving labor market. Initial jobless claims, a proxy for layoffs, increased by 13,000 to a seasonally adjusted 336,000 in the week ended Aug. 17, the Labor Department said Thursday. That was slightly higher than economists' expectations of 330,000 initial claims. The prior week's figure was revised up by 3,000 to 323,000, a five-year low. The four-week moving average of claims, which smooths week-to-week volatility, fell by 2,250 to 330,500, the lowest level since November 2007." [WSJ, 8/22/13]

Deficit Falling at Fastest Rate in 60 Years:

"Barack Obama said the deficit has fallen at the fastest rate in 60 years. While economists vary on how to best measure that decline, the president used an acceptable approach and his numbers are accurate. There are no statistical tricks in play." [Politifact, 7/24/13]

 

By: DPCC