This week, by the numbers

John McCain George W Bush's White House released a helpful Fact Sheet:

While these numbers are disappointing, what is most important is the overall direction the economy is headed. Last week, the economy posted a strong gain of 3.3 percent at an annual rate in the second quarter, led by growth in consumer spending, exports, and a well-timed and appropriately sized stimulus package. This level of growth demonstrates the resilience of the economy in the face of high energy prices, a weak housing market, and difficulties in the financial markets.

US unemployment rate now over 6%, worse than anticipated. 84,000 US jobs shed last month, 84,000 more men and women collecting unemployment.

Fannie Mae & Freddie Mac are about to be taken over by the Fed.

Under a conservatorship, the common and preferred shares of Fannie and Freddie would be reduced to little or nothing, and any losses on mortgages they own or guarantee could be paid by taxpayers. Shareholders have already lost billions of dollars as the stocks have plunged more than 80 percent this year.

FDIC just took over Silver State Bank- incidentally, until July Senator McCain's son, Andy was a director there. (h/t Atrios). This the 11th bank failure this year, if you're keeping track.

Foreclosures are at a 30 year high, and home loans 1 or more payments behind are at over 6% (though there are estimates as high as 9% ).

But the important thing to remember is that our economy is resilient!

The problem with John McCain the White House's analysis is, as always, that the Republican focus on "growth" ignores entirely that the growth has not translated to economic security or opportunity for American taxpayers.

That, my friends, is the straight talk.