Bush economy still doing better than expected
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JoeUser Forums
JoeUser Forums
Ooops, guess there won't be a Bush-bashin' headline on this topic, since someone already tried (and failed) to say that the Bush economy is leaving people behind.
Here goes the good news. Headline is linked, but site content at source changes daily, so check archives to find the original article.
Friday, August 12, 2005
Who’s grading Bush on the economy?
President Bush’s job approval ratings on the economy, which have been in the low to high 40s, continue to mystify some observers, despite monthly data showing that the economy is turning in a solid performance under his tax cut policies.
Employers not only created 207,000 jobs last month in what the Labor Department says is the strongest monthly increase since April, but revised figures showed that job growth was stronger than estimated in May and June, with a combined 45,000 jobs added to the totals.
Factory orders are growing, businesses have been breaking earnings records, the stock market has been in a summer bull rally, exports are at an all-time high, unemployment has fallen to a low 5 percent level, below par for the past several decades, and the U.S. economy is growing at a decent 3.4 percent annual rate.
Overall, the Bush economy has produced 2 million new jobs over the past year alone — 3.5 million new jobs over the past two years. More Americans are employed today than at any time in our history. “Over the past two decades or so, the U.S. has created more than 40 million jobs — twice as many as Europe and Japan combined,” the Wall Street Journal says.
Inflation remains tame, the Federal Reserve Board said last week, and interest rates are low. Housing sales continue to astound the real estate industry.
The one major blot on the economy is the sharp rise in gasoline prices as a result of the spike in world oil prices. No one knows how long that will last, and no doubt it has squeezed consumer pocketbooks. But those prices do not appear to have sparked new inflation. Indeed, prices in most other consumer sectors have remained competitive.
So why isn’t Mr. Bush getting more credit for his record on the economy?
Administration advisers say it is partly because he doesn’t talk about it very much and when he does, it is only sporadically and not on a sustained, comprehensive basis. The major rule of politics is repetition, and the White House seems to have forgotten that.
If Mr. Bush and his team do not get out and tout their accomplishments, no one is going to do it for them. The national news media do not do a very good job in reporting economic news and local media seem to go out of their way to avoid dealing with it altogether.
The administration has a dramatic story to tell the country about the economy’s stronger performance and they had better find new, innovative, creative and effective ways do so, or the economy is going to be defined by their adversaries.
— Donald Lambro, chief political correspondent
Notice the emphasized rhetorical question above "So why isn’t Mr. Bush getting more credit for his record on the economy?", my own personal answer is because there are idiots like a certain C.O.L., as well as rabid progressives and liberals that want face time to talk about other issues: Karl Rove, Cindy Sheehan, Judge Roberts, and anything other than anything that would possibly be good news for the President.
Where possible, the documented plan among the left is to tear down, denigrate, and destroy any possible good news and instead focus on the negative. Keep the world concerned about those left behind, about the victims, about the bad news, and in so doing, hopefully remind them all that the left has the answers and cures for all that ills.
In anycase, good news does occassionally get out. Be it from bloggers, non-mainstream news sources or others. And thankfully many U.S. citizens have gotten smarter about not simply accepting the news readers versions of the news. In doing so, they provide small rays of hope that the country can leave behind the bad attitudes and make progress in the future.
Here goes the good news. Headline is linked, but site content at source changes daily, so check archives to find the original article.
Friday, August 12, 2005
Who’s grading Bush on the economy?
President Bush’s job approval ratings on the economy, which have been in the low to high 40s, continue to mystify some observers, despite monthly data showing that the economy is turning in a solid performance under his tax cut policies.
Employers not only created 207,000 jobs last month in what the Labor Department says is the strongest monthly increase since April, but revised figures showed that job growth was stronger than estimated in May and June, with a combined 45,000 jobs added to the totals.
Factory orders are growing, businesses have been breaking earnings records, the stock market has been in a summer bull rally, exports are at an all-time high, unemployment has fallen to a low 5 percent level, below par for the past several decades, and the U.S. economy is growing at a decent 3.4 percent annual rate.
Overall, the Bush economy has produced 2 million new jobs over the past year alone — 3.5 million new jobs over the past two years. More Americans are employed today than at any time in our history. “Over the past two decades or so, the U.S. has created more than 40 million jobs — twice as many as Europe and Japan combined,” the Wall Street Journal says.
Inflation remains tame, the Federal Reserve Board said last week, and interest rates are low. Housing sales continue to astound the real estate industry.
The one major blot on the economy is the sharp rise in gasoline prices as a result of the spike in world oil prices. No one knows how long that will last, and no doubt it has squeezed consumer pocketbooks. But those prices do not appear to have sparked new inflation. Indeed, prices in most other consumer sectors have remained competitive.
So why isn’t Mr. Bush getting more credit for his record on the economy?
Administration advisers say it is partly because he doesn’t talk about it very much and when he does, it is only sporadically and not on a sustained, comprehensive basis. The major rule of politics is repetition, and the White House seems to have forgotten that.
If Mr. Bush and his team do not get out and tout their accomplishments, no one is going to do it for them. The national news media do not do a very good job in reporting economic news and local media seem to go out of their way to avoid dealing with it altogether.
The administration has a dramatic story to tell the country about the economy’s stronger performance and they had better find new, innovative, creative and effective ways do so, or the economy is going to be defined by their adversaries.
— Donald Lambro, chief political correspondent
Notice the emphasized rhetorical question above "So why isn’t Mr. Bush getting more credit for his record on the economy?", my own personal answer is because there are idiots like a certain C.O.L., as well as rabid progressives and liberals that want face time to talk about other issues: Karl Rove, Cindy Sheehan, Judge Roberts, and anything other than anything that would possibly be good news for the President.
Where possible, the documented plan among the left is to tear down, denigrate, and destroy any possible good news and instead focus on the negative. Keep the world concerned about those left behind, about the victims, about the bad news, and in so doing, hopefully remind them all that the left has the answers and cures for all that ills.
In anycase, good news does occassionally get out. Be it from bloggers, non-mainstream news sources or others. And thankfully many U.S. citizens have gotten smarter about not simply accepting the news readers versions of the news. In doing so, they provide small rays of hope that the country can leave behind the bad attitudes and make progress in the future.
