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Economy forward, to lift the middle class. in that sense i think his convention was a terrible failure. he never talked about the principal planks of his own plan and talked about his $5 trillion tax cuts skewed to the wealthy and never talked about turning medicare into a voucher pro gram. there is so many things that he didn t talk about and people walked away the voters trying to decide and said what alternative exactly is he offering. chris: but you keep talking about romney. i would like to talk about the obama record and i want to put some statistics up on the screen. unemployment was 7.8% when the president took office. it is now 8.3%. median household income was almost $55,000. it is now less than $51,000. gas was $1.85 a gallon when took office and now it is $3.78, almost double. the national debt was $10.6 trillion and it may go past 16 trillion dollars this ....
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Economy forward, for how to lift the middle class. in that sense i think his convention was a terrible failure. he never talked about the principal planks of his own plan and talked about his $5 trillion tax cuts skewed to the wealthy and never talked about turning medicare into a voucher pro gram. there is so many things that he didn t talk about and people walked away the voters trying to decide and said what alternative exactly is he offering. chris: but you keep talking about romney. i would like to talk about the obama record and i want to put some statistics up on the screen. unemployment was 7.8% when the president took office. it is now 8.3%. median household income was almost $55,000. it is now less than $51,000. gas was $1.85 a gallon when took office and now it is $3.78, almost double. the national debt was $10.6 trillion and it may go past 16 trillion dollars this ....
Under $3.78. mortgage rate hit another low for the year. the new 30-year fixed rate is 4.55%. down from 4.6. factory orders fell 1.2% in april. retailers reported only modest revenue increases in may. stocks today were mixed. dow lost 41-1/2. nasdaq gained four. let s get more on the economy and the markets from fox business network correspondent peter barnes. it s been volatile. that s right. everyone is holding their breath now for the big jobs report tomorrow. and based on other economic reports that we got this week, it may not be very good. maybe 100,000 or so new jobs created last month. today, the labor department reported that 422,000 people filed for initial jobless claims last week. that s still an elevated level that points to weak job ....
Negotiations led by vice president biden with lawmakers are now getting in to specifics. so their argument is another proposal is not needed and might actually slow down the process. bret? bret: mike emanuel, live on the north lawn. thank you. labor department says unemployment fell in 90% of the largest city in april. the drop is attributing to hiring for summer jobs. construction spending was up .4 of a percentage point in april. barely lifting it above the lowest level in a decade. manufacturerring activity expanded in may at the slowest pace in 20 months. that kind of news sent stocks plunging. each index off more than 2%. the dow fell 280 points today. the s&p 500 dropped 31. the nasdaq lost 66. oil prices dropped 2.5% today. crude lost about 2-point $2.5 a barrel to close. national average for gasoline is $3.78. ....