Economy Grows at 2% Rate

The U.S. gross domestic product “grew at an annual rate of 2% in the third quarter as consumers spent more, federal-government spending accelerated and the housing industry improved,” the Wall Street Journal reports.

Dylan Matthews: “Politically, that’s good news for the president’s reelection campaign-at least according to most election forecasting models. Given President Obama’s pre-summer approval rating of 46.4 percent, and the average growth rate of 1.766 percent for 2012 to date, the Wonkblog election model puts the odds of Obama winning reelection at about 81.3 percent.”