Mediocre Economy...Should We Settle?

The Commerce Department released the first quarterly report on the gross domestic product (GDP)--the total output / value of good and services produced in the United States.  Unfortunately, the news is not great.  For the first quarter of 2012, the GDP fell to 2.2 percent.  It was 3 percent in the last quarter of 2011.

The quarterly GDP report is one of the most closely watched reports for economy and for good reason.  It most accurately reflects the economic mood of the country.

What does this mean?  How do these numbers affect my household?

The reality is, this is far from encouraging news.  It shows that the economic recovery in the U.S. is still fragile and very unstable and most would argue, still unpredictable.  Although the report shows a slight rise in consumer spending, most would say that it is hard to paint a pretty picture from this report.

Make no mistake about it, the White House is paying close attention by scrutinizing and analyzing every detail of this report.

I have no doubt that they are undoubtedly frustrated by these numbers, especially with the November election looming on the horizon. They are now trying to put on an optimistic face.

When asked about the report, Josh Earnest, the White House press secretary said,  "We don't put too much weight on any individual report but rather what we examine are the longer-term trends and today's report indicates for the 111th consecutive month, we've enjoyed economic growth."

What?

They don't put "too much weight on any individual report?" Um...this is the Commerce Department with a report showing that the economy is now growing at a slower pace than it was 3 months ago.  This is not good news.

No matter what they do or say, or how much they try to focus on the "encouraging data," in the report reflecting slight improvements in personal consumption, home construction and auto markets, the truth remains, this stinks.

It will be hard to spin their way out of mediocre economic performance.

So what do these numbers really mean and how do these numbers really affect my household?

It reminds us that our president's policies have not worked.  Our president has tried his best to make it right and this is all we get?  This report just reminds us that this president just might be in over his head.

This report demonstrates once again that the American Dream is becoming less and less possible for any of us.  It reminds us that millions of Americans are still wondering how they are going to keep their heads above water, stay on their feet, pay their bills and keep their homes.

This report reminds us that the unemployment rate in this country remains at 8.2 percent.  Even worse, it reminds us that the unemployment rate for workers under the age of 25 remains at an unthinkable 16.4 percent.

It reminds us that the cost of attending college has risen 25 percent in the last four years and it reminds us that college graduates--at even the best universities--are having difficulty finding a job after graduation.

This report reminds us that businesses are still in a very fragile place.  Scott Hoyt, senior director of consumer economics at Moody's Analytics said, "Businesses are flush right now, but they are very scared.  They are hoarding their cash rather than distributing it in hiring, investment or giving it to shareholders."

This report reminds us that maybe the stimulus/ TARP money was nothing more than an artificial boost to the economy.  The stimulus money has all been spent.  The spike appears to have only been temporary.

Are these results worth the $4 trillion price tag? Did the stimulus stimulate?

Regardless of how hard the White House spins this, this report is discouraging.

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I wish more than anything that politicians would see that these numbers affect more than the outcome of an election.  This is personal.  This is urgent.  We are desperate.  America is still broken.

This is one of the many reasons why I believe that Mitt Romney's specific economic leadership skills are exactly what we need for these very specific and fragile economic times.

Gerald Herbert / AP 

Time and again he has proven that he knows what to do in these kinds of situations.  And more importantly, time and again, Mitt Romney has demonstrated that his fine-tuned skills have been the lifeline for countless companies, organizations and even a nearly bankrupt state government.

Mitt knows how to get our economy moving again so that it will return to a healthy, thriving country where people find jobs, where opportunities are real, where an education is seen as a benefit and not simply a personal debt to overcome, where people can afford to buy homes and more importantly, afford to keep making the payments.

America's future is promising, but we need a leader to help us remember that America can be better and stronger than it is now.

We should not settle for mediocrity.  We should not celebrate poor performance.  We should not reward politicians who create failed policies.  We should not settle.  We deserve more.  Americans should demand better.

The time is now.  America needs Mitt.