The Early Shift

Posted by vriz on 05/29/2009

The Commerce Department today reported the 1st quarter GDP numbers, and they are not as bad as expected: the GDP shrunk by 5.7%, down from the initial estimate of 6.1%. Treasury Secretary Geithner will travel to China this weekend.  He is expected to ask the Chinese to take measures that stimulate domestic spending rather than relying on the rest of the world to hand out the dough for their products. And President Obama is doing an overseas tour next week himself going to the Middle East and Europe.  While he is out of town, his Cabinet officials will be hard at work "in the field," so to speak (or one can say in the election battleground states).  Eight Cabinet Secretaries will be travelling to Ohio, Michigan, Indiana and Wisconsin to discuss bringing immediate relief to auto communities and help them achieve long-term revitalization.

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