Bush says tax cuts have revived U.S. economy

[Nambe]

By DEB RIECHMANN Associated Press writer Sunday, August 31, 2003

President Bush says increases in consumer spending and reports that manufacturing is on the mend are proof that his tax cuts have restarted the American economy, although the job market has yet to turn around.

"Now we must build on this progress and make sure that the economy creates enough new jobs for American workers," Bush said in a radio address Saturday that looked ahead to Labor Day and three trips he's taking this week to talk about his job-creation agenda.

Economic recovery in America -- an issue that could be a problem for Bush in next year's campaign if it doesn't happen quickly enough -- is the theme of events this week in Ohio, Missouri and Indiana, three states important to his re-election. ---

Labor leaders acknowledge the positive signs, but they also point to the nation's 6.2 percent unemployment rate in July and the 2.7 million net jobs that have been lost in the economy since the recession began in March 2001. They also argue that Bush's three rounds of tax cuts passed by Congress have gone to the wealthiest taxpayers and sent the deficit soaring. ---

Ride Don’t Drive It’s Global Cool

[VolcanoJen]

1. If this had been a television address rather than radio...

... I suppose WhistleAss would have been standing in front of some Chinese "Made in America" boxes, with a nice backdrop reading "The Economy is Rockin'! Seriously!!" over and over and over...

[salin]

2. Yep... it picked up steam for Bush's JobLoss Recovery

once again he surpasses his father.. in terms of poor presidential policy and negative consequences for the country. At BushSr had a Jobless Recovery (no new jobs). BushJr makes sure that the recovery loses jobs.

[JPace]

25. "JobLoss Recovery"

excellent rephrasing.....

the words "Jobless" and "Recovery"
are incompatible, but AWOL's regime
puts a lot of funny words together
to confuse people.

[AntiCoup2K4]

3. Oil companies are raking in record profit margins this summer

As far as the Bush Criminal Empire is concerned, that IS "economic recovery".

[zbdent]

4. Uh, doesn't the sales include "back to school" buying?

Isn't it interesting to note that Bush's latest claim on the recovery is just at the moment when the purchasing of clothes, school items (as listed by the schools, probably a large chunk of it not really necessary, or maybe "influenced", like having to buy "Bic" brand magic markers, not the dollar-store brand?), lunchbags/boxes, and all that entails having a school-age child, hits the calculations on what the consumer spending is doing?

(god, that's a terrible sentence, but you get the idea).

[PassingFair]

23. Great Point, ZB

I know that I've been spending like a "sailor on a one-day pass". Jeez, when the little buggers look up at you with their tear-filled eyes and tell you that EVERYONE else has 4 $5.00 stretchy book covers, whatryagonnado?

P.S. : If I had one iota of energy, I'd have gone into the stretchy book cover business LAST year....

[Nay]

5. I hate to tell him, but the corpse is still on the slab, unrevived.

[Tom Yossarian Joad]

6. Great... Right. I think I'll start penning "Grapes of Wrath: The Musical"

[DavidDvorkin]

7. Gee, so why am I unemployed?

Why did I and so many others lose our jobs well after the tax cuts took effect? Why aren't we all employed again?



http://www.dvorkin.com

[rook1]

19. You have a remarkable resume

....very impressive. A truly educated individual. I find it hard to believe that a person with your credetials can't find work.

[xxqqqzme]

8. restarted the economy huh?

I am always amazed how squatter denies the economy is lagging but continuously assures us it is recovering. Is this the 6th or 50th time he has said the economy is recovering? I've lost count!

[rock]

9. Or as the doctor said when he cut off the man's penis by mistake

"There."

[teryang]

10. All the vacant storefronts with for rent signs

...must be a figment of my imagination. (Reminds me of Texas in the mid eighties) Also the exploding number of homeless people. I have two unemployed adults in my immediate family. Taxes, insurance, fuel and education costs are skyrocketing but there is "no inflation." Health plans are absurdly expensive. How much longer will the banking establishment be able to keep interest rates down to cover the exorbitant prices of autos and homes? Until just after Nov. 3, 2004, I imagine. "Apres moi, le deluge."

[Rex]

11. Yes yes...and in other news

Pigs seen flying, and the Moon really is made of cheese.

[Cha]

12. bush is a known Liar! When has bush told the truth?

bush lies and People die!

[caledesi]

15. Another lie....We HAVE to keep track of these lies.

[bvar22]

13. I thought it was the MASSIVE GOVERNMENT SPENDING...

...due to our perpetual WAR and MASS KILLING of non-whites that has had a positive effect on our economy.....My bad.

[priller]

24. You're exactly right

Much of the GDP increase has been due to military spending -- which in this case looks increasingly like money down the drain.

[ewagner]

26. Yep!

That was the bulk of the increase.

[Maudlin]

14. Hasn't he been saying this for over 2 years?

Not feeling it yet.

[htuttle]

16. Cheech: "Hey, how's my driving?"

Chong: "We're parked, man!"

[InkAddict]

17. Yep, Clueless in Crawford

Whatever this moron says, just apply the 180 degree rule and you might get at just the tip of the iceberg of truth -

He really ought to be saying that he and his buddies are raking it in over the corpses of our troops (foreign policy), that Americans need to make more bricks without straw (productivity), that no child ought to cost more than $400 a year to raise and educate (FAMILY VALUES AND COMPASSIONATE CONSERVATISM), and that he's sure glad that the 99% will provide ALL the necessary taxes so his friends and their heritable offspring and live in bliss with total security of their hordes. He obviously advocates the use of HOT AIR to generate energy!

And it seems as though S3l3ct3d just traded places/spaces with SADDAM. But, I guess the kids didn't share the HUSSAIN vision? Maybe they were just spoiled rich brats like his genetically spawned EVIL TWINS.

[MaineDem]

18. The tax cuts have done nothing for me

Am I the only one? I have no children. The lowering of the tax on my pension is not worth counting. I can't go out and increase my spending because of this idiot's tax cuts. Unless I want to max out my credit cards and then have it written off as bad debt. Nope, they aren't helping me one bit!

[Chomskyite]

20. Heh

And the fact that I've been hired at a community college to teach six classes for $12,000 for THIS SEMESTER ONLY is also evidence the economy is turning around.

Whatever, whistleass!

[BiggJawn]

21. It's a "Stick Thermal", nothing more...A STICK THERMAL!

Anuyone whos studied sailplaning knows what I'm talking about.
You cruise along, not really paying attention, when you see the Variometer nudge up. The green ball slams to the top of the tube, and you think "Hot damn! Lift!"
So you start circling around, trying to centre yourself in the bubble, so intent on the vario that you don't notice your airspeed indicator is dropping.

Eventually, you drop below 37 mph or so and start wondering why the controls are getting so sluggish. one way or the other, you're gonna put the noseddown and get some speed back up.

What happened is you pulled back on the stick without realizing it at the start of this exercise, and thought you had really found some lift. You should have checked the airspeed indicator before you got all excited.

Same thing is going on with the Economy. Bush and his minnions are SO busy showing us that green ball up at the top of the tube that they hope we don't glance at the airspeed.

Yes, profits (the green ball) are up, but there's no airspeed increase (JOBS) to sustain it.

SOMEBODY has to do the damn work, and SOMEBODY has to be left here with the resources to buy all those goods and services "driving" this "Jobless Recovery"...Or are we gonna have a "worker exchange programme" where we bring over all those helpdesk folks from India and we all go over there and live 9 to a mud hut eating bugs?

[Don_G]

22. Dimbo Confuses Embalming Fluid...

With blood. I suppose embaalming fluid is more profitable to him and his cronies.

[Snellius]

27. Why doesn't he ever mention the effect of military spending?

It's odd that Bush only credits the tax cuts with improving the economy. He never mentions the huge increase in government spending.

[snippy]

28. The recovery has now been underway for eight quarters.

Until the last few months it has been an incredibly slow recovery. The recent acceleration in growth probably is due primarily to the huge increase in federal government spending and the gargantuan increase in the money supply.

Federal government spending increased 25.5% in the second quarter. Without this increase GDP would have grown at a 1.6 % annual rate.
http://www.bea.doc.gov/bea/newsrel/gdpnewsrelease.htm

The three measures of the money supply, M1, M2, and M3, increased in the 3 Months from Apr. 2003 TO July 2003 at annual rates of 13.1%, 12.4%, and 14.9% respectively.
http://www.federalreserve.gov/releases/H6/Current/

Neither the increases in government spending nor the increases in the money supply can continue at these rates without adverse consequences, probably increased inflation and higher interest rates..