Goolsbee: 'If It's Growing Less than 2 Percent ... [Obama's] Going to Be Facing Trouble'
9:57 AM, Sep 27, 2012 • By DANIEL HALPER
Zerohedge reports on the latest GDP numbers:
This is bad news. And politically it's bad news for President Barack Obama, at least that's what former Obama administration economist Austan Goolsbee predicted in January.
"I would say, if the economy's growing the way it did in 2010, or is...3 percent and above, the president is going to have major wind at his back," Goolsbee said on a Sunday show in January. "If it's growing less than 2 percent or if things go wrong in Europe, he's going to be facing trouble. But we're somewhere right now, splitting the difference, and so we're going to be in this -- in this close spot."