and show that at penn state football became bigger than the institution and bigger than the rule of law and there are consequences for this. this is the argue hadn t that you have to punish the culture. right. because the football program became so big that it dominated and it made it i guess impossible not impossible but difficult for the administrators to disagree with i half agree with matt. look, the former president of penn state tried to fire joe paterno i think in 2004 and could not. that is a terrible situation that should never exist. you are not going to get leadership from the ncaa. if the problem is sports money then the college presidents and boards of trustees should say okay we are not going to be on tv. it has to come from the institutions. otherwise we will get more check lists. the former president says everything he told the board was in compliance with what the general counsel told him. we got compliance instead of
i m paul gigot. more signs of trouble with news that the u.s. economy grew at an annual rate of just 1.5% in the second quarter. passing americans cut back sharply on spending. the slowdown adds to worries that the economy could be sal stalling three years after the recession ended. joining the panel, wall street journal columnist and deputy editor dan henneger and dan mcgern and mary. what does the news tell you about where we are reit now in terms of the economy? i think the most disturbing thing is the trend. the fourth quarter number was better than 4%. the first quarter has been revised upward to 2% and now we are at 1.5%. and i think the risk there is that, you know, consumers as you pointed out consumer spending took a hit. and the economic agents both the employers and consumers are really losing confidence and that is what is bringing us into this stall. by the way, paul, i think that the administration is going want to blame europe and it is interesting to note
that the u.s. economy grew at an annual rate of just 1.5% in the second quarter. passing americans cut back sharply on spending. the slowdown adds to worries that the economy could be sal stalling three years after the recession ended. joining the panel, wall street journal columnist and deputy editor dan henneger and dan mcgern and mary. what does the news tell you about where we are reit now in terms of the economy? i think the most disturbing thing is the trend. the fourth quarter number was better than 4%. the first quarter has been revised upward to 2% and now we are at 1.5%. and i think the risk there is that, you know, consumers as you pointed out consumer spending took a hit. and the economic agents both the employers and consumers are really losing confidence and that is what is bringing us into this stall. by the way, paul, i think that the administration is going want to blame europe and it is interesting to note that exports were up 5.3% which suggests that, y
frank. there is a school of thought developing that the president who had all of this political capital did not spend enough time creating incentives in an economy coming out of a relationship section. this is the worst recovery in terms of growth since world war ii and not even a close call. right. just that much worse than everyone else. so, bill, 0.1% 0.1%. heat me repeat that. 1.1% growth in real dis 0.1%. that is just not enough to get average incomes up. no, it is i think to further dan s point, one of the points that i think governor romney needs to make is that we are here not because obama failed but because he succeeded. he had his choices and made his choices and now failing not by our measures at this table, by his own measures. he told us that unemployment would be at 5.6% that the point. it s 8.2%. vice president biden told us we would be creating up to 500,000 jobs by this point and we are are creating 80,000 jobs and one thing that might be right.
developing that the president who had all of this political capital did not spend enough time creating incentives in an economy coming out of a relationship section. this is the worst recovery in terms of growth since world war ii and not even a close call. right. just that much worse than everyone else. so, bill, 0.1% 0.1%. heat me repeat that. 1.1% growth in real dis 0.1%. that is just not enough to get average incomes up. no, it is i think to further dan s point, one of the points that i think governor romney needs to make is that we are here not because obama failed but because he succeeded. he had his choices and made his choices and now failing not by our measures at this table, by his own measures. he told us that unemployment would be at 5.6% that the point. it s 8.2%. vice president biden told us we would be creating up to 500,000 jobs by this point and we are are creating 80,000 jobs and one thing that might be right. he told us the economy was improvin