Welcome to the Recovery…and Decision 2012.

Via Stacy McCain: UNEXPECTEDLY! and Obamanomics Sucks!

Via Drudge:

Companies in the U.S. added fewer workers than forecast in May, a sign that job growth is struggling to gain momentum, data from a private report based on payrolls showed today.

A separate report showed the number of planned layoffs at U.S. firms rose modestly in May with the government and non-profit sectors making up a large portion of the cuts.

More than 77,000 federal government employees throughout the country — including computer operators, more than 5,000 air traffic controllers, 22 librarians and one interior designer — earned more than the governors of the states in which they work.

Not from Drudge:

Economic data suggests soft patch continues

Investors should prepare themselves for a third round of quantitative easing, Simon Maughn, co-head of European equities at MF Global, told CNBC Wednesday.

The dollar dropped to the lowest in three weeks against the currencies of its major trading partners on concern weaker economic data will drive the Federal Reserve to keep interest rates at a record low to bolster the recovery.

Why will Obama lose in 2012? It is the economy, stupid. Larry Kudlow thinks so.

With a flamboyant downgrade of the outlook for economic growth, jobs and profits, Wednesday’s 280-point Dow plunge to launch the so-called June stock swoon is a warning shot across the bow.

The Dow tanked alongside a batch of dismal economic data. The ISM manufacturing index, ADP employment, Case-Shiller home prices and consumer confidence are all pointing to 2 percent growth or less, rather than the kind of 5 percent growth we ought to be getting coming out of a deep recession.

The economy now looks like a Government Motors engine that’s stalling out. Or perhaps, with energy and food inflation, and housing deflation at the same time, the economy is acting like a pinball machine on permanent tilt.

There’s a key message here: Big-government stimulus never works.

So does Nile Gardiner:

On a recent visit to London I was struck by how much faith many British politicians, journalists and political advisers have in Barack Obama being re-elected in 2012. In the aftermath of the hugely successful Special Forces operation that took out Osama Bin Laden and a modest spike in the polls for the president, the conventional wisdom among political elites in Britain is overwhelmingly that Obama will win another four years in the Oval Office. Add to this a widespread perception of continuing disarray in the Republican race, as well as a State Visit to London that had the chattering classes worshipping at the feet of the US president, and you can easily see why Obama’s prospects look a lot rosier from across the Atlantic.

But back in the United States, the reality looks a lot different. Many political leaders in Britain fail to understand the degree to which the American people are deeply unhappy with their president’s poor handling of the economy. Nor have they grasped the epic scale of the defeat suffered by the president in the November mid-terms, and the emphatic rejection by a clear majority of Americans of the Big Government Obama agenda.

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