An analysis by the Associated Press today indicated that despite high approval ratings, President Obama may face problems in his efforts to push for new gun control and immigration legislation due to the latest economic news that real GDP slipped by 0.1% in the fourth quarter and that consumer confidence declined in the latest month. That may hurt his standing in moving his agenda along, at least temporarily, the article suggested.
But the article also pointed out that economists believe the underlying economy is still in a likely growth mode, with consumer spending and capital investment actually rising in the fourth quarter, while defense spending declined.
Quoting an economist at the Conference Board, it noted that the key to consumer confidence will be jobs growth, and that may take a few months of significant steady growth in the employment numbers.
The article cited economists' belief that the economy is on track for a potential 2% growth in 2013, "as long as the housing and auto industries continue to recover."
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