President Bush's Actions Fuel Recovery III

Man oh man, what is a liberal to do? Our economy gets better quarter after quarter, month after month! Some people believe that a President does not have a large impact on the economy, but I continue to see liberals trying to blame Dubya for any bad economic news. This conservative thought I should give Dubya credit where credit is due.
From http://biz.yahoo.com/prnews/040520/nyth086_1.html - Conference Board Economist Ken Goldstein: "The Leading Economic Index remains on an upward trend, suggesting continued strong economic and job growth through the third quarter.
From http://quote.bloomberg.com/apps/news...TVw&refer=home - May 20 (Bloomberg) -- The index of leading U.S. economic indicators rose 0.1 percent in April as stock prices, Treasury yields and money supply rose.

From http://www.georgewbush.com/Economy/ - April’s increase in employment remained strong and well in excess of market expectations. 288,000 net new jobs were created in April – and February and March increases were revised upward, for a combined upward revision of 66,000.
 The household survey showed a similar increase in employment, up 1.3 million since August.
 The national unemployment rate edged down to 5.6% in April – falling 0.7 percentage points from its peak of 6.3% in June 2003. At 5.6%, the unemployment rate is below the average of the 1970s, 1980s, and 1990s.
 Manufacturing employment increased 21,000 in April, and was revised up for February and March. Manufacturing employment has risen for three consecutive months. These were the first gains in this sector since July of 2000. ( Clinton was losing Manufacturing jobs before Bush? )
 Over the past year, the unemployment rate has fallen in 44 of the 50 states.
 Weekly unemployment insurance claims have fallen to their lowest level since 2000.

With only about 160 +/- days before the election, I believe the Dems are running out of things to complain about.

How many of them work for TEMP agencies?

You know TEMP agencies take a percentage of their income!

And TEMP agencies actually give false readings of rising employment. The companies who hire TEMP workers could cut cost and deny insurance and many other benefits to TEMP workers!

I was reading an article in the paper today about how high school and college students will have real problems finding summer jobs this year. Seems that the jobs they usually get for the summer such as with fast-food places, lawn-mowing, and the like have already been taken by people laid off from their regular jobs, senior citizens who've had to go back to work because of the bad economy of the last few years, etc. And many of these people are having to hold down 2 or more of these jobs trying to make ends meet.

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<<Cheer up, the worst is yet to come.>>

I am not sure about the Temp #s in the economic mix. What is interesting are the numbers about manufacturing – [Manufacturing employment increased 21,000 in April, and was revised up for February and March. Manufacturing employment has risen for three consecutive months. These were the first gains in this sector since July of 2000.] The Dems have consistently hinted that any new job created was only a hollow service (McDonald’s type) , minimum wage type job. 90 day+ gains in the Manufacturing sector flies against their hollow job theory.

I read things like these statements and I am unable to rationalize other statements I read, interest rates are low, there are more home buyers out there looking to buy, job creation is up, etc.. If this economy is so bad, why do I see so much activity in the real estate market nationwide? From Indiana - Local home sales rose 7.2% in April, http://www.indystar.com/articles/1/148598-2491-031.html or New York - For Home Sales, Spring Fever
http://www.nytimes.com/2004/05/23/re...te/23COV.html? or Sales of new one-family houses in March 2004 were at a seasonally adjusted annual rate of 1,228,000, This is 8.9 percent (±12.0%) above the revised February rate of 1,128,000 and is 21.8 percent (±12.9%) above the March 2003 estimate of 1,008,000. , NEW RESIDENTIAL SALES IN MARCH 2004 . How can all these people have the money to but so many homes across the U.S.? If everyone is out of work or under employed, who is buying all of this real estate?

While I do sympathize with high school students, they are the people who need jobs the LEAST. They do not have to provide for anyone, and most of their money will be spent on frivolous things.

And I am not even sure that what you say is completely true, I see "now hiring signs" all over the place at these fast food gigs. If a high school student really needs a job I am sure he/she could find one.

Last time I checked, the unemployement rate for this group continued to be at historic lows. So, I'll believe it when I see it. There seem to be plenty of these entry level jobs for anyone that wants them. A good friend of mine is manager of a large grocery chain, and he says they never have enough entry-level workers and are always hiring. High school students can work for a couple of months as a bagger and then make something like $12/hr as a checker. I would have killed for a job that paid that much when I was in high school.

YOu guys do understand that the ecomony is getting the most federal stimulation possible which is resulting in huge deficits. Tax cuts, massive spending increases and federal reserve rates cut to the bone.

Maybe you should take macroeconomics 101 and learn about what massive borrowing and spending is supposed to do to an economy. I'll give you the answer, short term gains at the expense of long term benefits.

For example, take you credit card out of you wallet and go on a spending spree. Now look at the data for the amount of goods you bought for the day and it will look like you are doing pretty well. Until the bill arrives.

The bill for this ecomomic recovery is not yet been paid. That will happen for decades that it will take to pay off the trillions in debt from the Bush Presidency.

So you want me to be impressed that the President is making such a strong economy, do it and balance the Budget and I will be impressed.

It depends on what you buy. Here's a slightly better analogy, though not perfect (if anyone else wants to improve it, feel free).

If you own a company that's been making 100,000 dollars a year, but suddenly takes a turn for the worse and is only making 75,000 a year, you can:

1) Blindly assume that what goes down must come up, and adjust your standard of living in hopes of a brighter future.

2) Blindly assume that what goes down must come up, but maintain your standard of living, charging what you can't afford on your credit card (kind of what your analogy suggests).

3) Actively try to return your company to its earlier standing by borrowing money, but investing it back into the company. The extra money you make will more than make up for what you borrow.

Tax cuts do both 2) and 3). As the economy grows, the deficit will shrink. Early data shows this to be the case, if we can keep Bush from spending money, the deficit should continue to fall.

http://www.washingtonpost.com/wp-dyn...-2004May3.html

that almost every economist out there will tell you that private institutions and consumers will pretty much always spend money more efficiently than the government will. Thus, money that goes from the government to the people will equal more money in the market. Tax cuts work on many levels.