Bloomberg: Republicans See Presidential Race Prospects Rise With Slowing U.S. Economy

The bad economic news buffering the U.S. is being welcomed in at least one quarter: among the Republican Party officials and activists gathered in New Orleans for a conference lasting through tomorrow.

Reflecting a renewed sense of hopefulness heading into the 2012 election, those attending the Republican Leadership Conference were optimistic that the recent wave of data showing a slowing recovery from the worst recession since the 1930s could add up to a victory for their party against President Barack Obama. Citizens United President David Bossie says America is in a “rut” because of Obama’s economic policies.

Former House Speaker Newt Gingrich of Georgia, the first of the major Republican presidential candidates to address the group, told the roughly 2,000 attendees yesterday that he was eager to spend his campaign talking about jobs, energy policy and the “Obama depression.” Gingrich asked his audience: “How can the president of the United States say to the country he’s not concerned about a double-dip recession? How can he not be concerned when 14 million Americans are out of work?”