Friday, July 27, 2012 – 01:30 p.m.

Here’s some news of interest traveling across the transom this week.

U.S. Economy slows, second quarter GDP Falls to a tepid 1.5%.

The U.S. economy grew at a cooling-down pace of just 1.5% in the 2nd-quarter of 2012. The news isn’t good for those hoping for a economic recovery.

Instead, with short and long-term interest rates approaching zero, it looks as if another recession may appear on the horizon.

Real Estate weakening again

Sales of new and existing homes also slowed last month, even as inventories fell.

Thirty-percent of all recent sales have been cash deals.

Romney gaining edge in daily tracking polls

Former Massachusetts Governor Mitt Romney is slowly gaining an edge, against President Barack Obama, in daily tracking polls.

The Rasmussen Reports daily tracking poll of 1,500 likely voters as Romney leading Obama by a margin of 49% to 44%, with a margin of error of 3.0%.

The Gallup organization poll of 3,050 registered voters, didn’t post an update today, has the race tied at 46%, with a margin of error of 2.0%.

The battleground states of Michigan and Ohio have moved from “Leaning for Obama” to Toss-up.

Brinker to run for San Bernardino Mayor

Yes, former San Bernardino City Councilman Tobin Brinker, who recently lost his council seat, is reportedly carrying though on his promise to run for mayor.

Whatever floats your boat. His platform of pension reform may not be enough considering his past council position and election loss.

San Bernardino County pension reform? Oh please!

So San Bernardino County wants to reform its foundering pension system?

Don’t count on it.

Sources say county management is dead set against it, and has done everything imaginable to prevent it from happening, just so they can screw with employee unions directly.

There has been some interesting pressuring of county supervisors by top administrators, which we’ll discuss as this likely debacle unfolds.

You can also throw in a few lies to supervisors by staff to boot.

And remember the “Golden Rule”. If any county can screw anything up it’s San Bernardino.

Even as the county pension system’s unfunded liability grows to more than $2.1 billion, not inclusive of hundreds of millions of dollars in pension obligation bond debt, expect little or nothing to get accomplished.