Paul Ryan accepted the nomination of the vice presidential candidate at the Republican National Convention in Tampa, FL last night amidst tropical storm Isaac. Ryan with his Terrible Towel was in the Carnegie area of Pittsburgh last week for his campaign rally that started nationwide earlier in August preparing for the convention. Republican U.S. Representatives for Pennsylvania from the Pittsburgh area, Tim Murphy (18th congressional district) and Mike Kelly (3rd congressional district), attended the campaign rally hosted at Beaver Steel Services Inc. As Ryan was in Pittsburgh when 2012 former vice presidential candidate Todd Akin made comments on abortion and rape, local CBS affiliate KDKA first reported on Paul Ryan’s reaction to his colleague’s comments regarding rape. “Rape is rape. Rape is rape, period. End of story.”
In his speech at the Republican National Convention, Paul Ryan who serves as chairman of the House Budget Committee spotlighted the problems of Obama care, increases in the trillion dollar debt and presidential running mate Mitt Romney’s business success and recovering the Utah Olympics from scandal and financial burdens. In his seventh term in congress, he addressed the financial crisis which was a hot topic in the election of 2008 and how the economy has not recovered. He spoke of watching the GM plant shutdown in his hometown of Janesville, WI and meeting his mentor, Jack Kemp, while attending college at Miami University in Ohio. He wiped away tears as he focused his speech on seeing his mother after the loss of her husband (his father) attend college to become a small business owner. Mitt Romney will speak tonight to close the convention.
In the 2012 Election race, some republicans are using the question that was presented to the American public by President Ronald Reagan in the 1980 presidential defeat against Jimmy Carter “Are you better off than you were four years ago?” President Obama’s 2008 campaign slogan was hope and change. In an interview with George Stephanopoulos, Obama responded to the question of what slogan will define the 2012 election with “our vision for the future.”
Two of the major financial topics that the 2012 election presents to the President and opposing presidential candidate Mitt Romney are the U.S. Economy and the unemployment rate.
The primary indicator used to measure the health of the economy is the GDP, gross domestic product, which provides a market value of all finished goods and services in a specific time period. The GDP average for the Bush admiration (2005-2008) is 1.85 within a range of -0.3 to 3.1. The GDP for the Obama administration (2009-Present) is currently 0.7 in a range of -3.1 to 2.4.
The unemployment rate is a measure of able individuals out of work seeking employment. The average unemployment rate of the four years for the Bush administration was 5.0% and for the last four years of the Obama administration is 9.0%.