Around the Bigs: Even the media bigs who have been President Obama’s biggest cheerleaders find little economic cheer this morning, as a growing list of indicators point to an economy that is barely growing and in many sectors is either stagnant or even declining. That paints a bleak picture that immensely complicates Obama’s 2012 prospects.
Wall Street Journal: “Stocks suffered their biggest declines since the middle of last year, as several downbeat reports prompted fears the economic recovery is running out of steam. The Dow Jones Industrial Average closed down 279.65 points, or 2.2%, to 12290.14, the biggest point drop since June 4, 2010.” Later, the Journal cites lower than expected job growth, slowing manufacturing production, dropping car sales, and another debt downgrade for Greece as the causes for the slide.
