Three years ago in his 2010 State of the Union address, President Obama unveiled a lofty goal to double U.S. exports by the end of 2014.
At this point, it doesn't look like he will get there.
But to reach Obama's goal, exports need to total around $3.2 trillion in 2014, increasing 45% over the next two years. That's quite a stretch, considering that exports grew only 4.5% in 2012, and 38% over the last three years combined.
Overall, the goal to double exports means little for U.S. economic growth and jobs until you factor in imports as well. The United States imports far more foreign goods and services than it exports, and has been doing so since 1975.
Exports only boost U.S. economic growth when the trade gap narrows. Such was the case in 2012, and if that continues, it could be an encouraging sign of stronger job growth ahead, even if we don't get to the $3.2 trillion goal.
The U.S. military is increasingly using unmanned aircraft systems like these in its operations.
That means big money for the companies that make them.
Companies benefiting from this spending include Northrop Grumman (NOC), General Atomics, Lockheed Martin (LMT), Boeing (BA), Israel Aerospace, and Textron (TXT). All numbers in this story, except those for the F-35, were provided by IHS Jane's Principal Analyst Derrick Maple.
It's estimated that drones make up 31% of the MORESteve Hargreaves - Feb 11, 2013 10:10 AM ET
It's reminiscent of 1999, but with a new social media kick. President Obama is using the phrase My2K to spread fears about the fiscal cliff to the masses on Twitter.
The White House claims that if the Bush tax cuts are allowed to expire at the end of the year, the typical family of four will pay $2,200 more in taxes next year. The president wants to extend the tax cuts MOREAnnalyn Kurtz - Nov 28, 2012 4:21 PM ET
Are Americans feeling more miserable than they were four years ago? According to the so-called "misery index," they're not -- a fact that boosts President Obama's chances of winning re-election.
The misery index combines the unemployment rate and the annual inflation rate and has accurately predicted the outcome of nine of the last 12 presidential elections, according to economists at Deutsche Bank.
When it rises, it's considered a sign of a weaker MOREAnnalyn Kurtz - Oct 17, 2012 12:08 PM ET
The Romney-Ryan camp is trying to discredit the falling unemployment rate, claiming it's due mainly to workers dropping out of the labor force. But Obama administration official Gene Sperling shot back Tuesday: "That just ain't so."
Sperling, who heads the White House's National Economic Council, pointed to data from the Bureau of Labor Statistics, which shows the unemployment rate fell to 7.8% last month, down from 9.0% a year earlier. Most MOREAnnalyn Kurtz - Oct 16, 2012 4:02 PM ET
Mitt Romney is accusing President Obama of turning the clock back on welfare reform.
The Republican challenger Tuesday launched a new ad charging Obama with gutting the landmark 1996 welfare reform law that requires recipients to work to receive benefits. It's another step in Romney's strategy to paint Obama as the entitlement president.
"You wouldn't have to work and wouldn't have to train for a job," says the ad, which begins with MORETami Luhby - Aug 8, 2012 8:34 AM ET
This could turn ugly quickly.
Now that Mitt Romney has all but been officially crowned the Republican nominee, a war of words (and graphics) is heating up between him and President Obama on Twitter.
The two sparred about job creation and women today, with Romney even targeting the President's Twitter handle directly.
The tweet included an infographic created by his campaign, pointing to an eye-popping statistic claiming that 92.3% of jobs lost under MOREAnnalyn Kurtz - Apr 11, 2012 3:44 PM ET
After being accused of being "out of touch" by his leading Republican rival last week, President Obama trotted out his "middle class experiences" for journalists.
The president said he went through much of college and law school on scholarship, as did his wife, Michelle. Still, they had to take out student loans that they were paying off nine years later. (The couple had $125,000 in debt when they graduated Harvard Law MORETami Luhby - Apr 9, 2012 6:00 AM ET
The construction industry and state and local governments are among the biggest drags on the nation's economic recovery, President Obama said Wednesday.
If those two sectors were recovering as they have in previous recessions, the unemployment rate would be in the 6% range, the president told a group of digital journalists gathered at the White House.
If these areas were to have a similar rebound now, each one would take a point MORETami Luhby - Apr 4, 2012 7:20 PM ET
Here's the latest way President Obama wants to help the unemployed.
The president is looking to give displaced workers $4,000 a year to pursue training in technical fields to land new jobs.
The grants are part of the latest jobs proposal unveiled by Obama Monday. Many of them have gone nowhere as Congress and the White House continue to fight over the best way to promote job creation.
The plan would provide additional MORETami Luhby - Mar 12, 2012 4:58 PM ET
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