Bush View of Economy at Odds With Forecast

[wicket]

http://story.news.yahoo.com/news?tmpl=story&cid=544&ncid=703&e=1&u=/ap/20041215/ap_on_go_pr_wh/bush_s_blue_skies

An economy with blue skies, happy workers and prosperity for all, just around the corner. That's the sunny picture painted Wednesday at President Bush's economic conference, where nary a discouraging word was uttered and Bush's second-term priorities were resoundingly praised. In reality, Bush will have a hard time getting any of his major proposals through a skeptical Congress.

Bush's plans to overhaul the tax code and Social Security (news - web sites) and to limit lawsuit liability awards are generating stiff opposition, even among some groups that supported his earlier economic endeavors.

-snip-

While the economy does appear to be recovering, things are not as bright as participants suggested. Job creation remains anemic, budget and trade deficits are at record highs, and a long-slumping dollar threatens to drive up interest rates.

The only time participants painted a dark picture was when they talked about financial burdens suffered because of large legal judgments or because of estate taxes, echoing Bush's invocation of a "death tax." Bush would permanently eliminate estate taxes and put limits on jury awards in medical malpractice and asbestos lawsuits.

[rkc3]

1. Should be "Bush View of Economy at Odds With Reality"

[texpatriot2004]

12. Yes, it should be...thanks for the laugh out loud :-)

[Drifter]

2. I keep hearing about how AWOL ...

is going to fix the economy. I thought he already did that.

Wouldn't the idea of fixing the economy, be an admission that there is something wrong with the economy ?

Isn't that about as big of a Flip-Flop as you can get ?

I wish someone would clue in this asshole, that it is his policies that have put the economy in the dire straits that it is in.

He's not still blaming Clinton is he ?
Can someone please tell me when he is going to be sworn in as president.

Cheers
Drifter

[TexasChick]

10. He's done blaming Clinton for these last four years. Now, he's knows

blaming Clinton now won't work. So...you wanna bet who's next...sort of rhymes with minerals....

[louis-t]

15. Repubs are blaming Clinton for not armoring Humvees

saying he downsized, diverted money from military therefore poor bushie can't save our boys and girls. Except that we know the outfit that armors vehicles said they could increase output by 20% if only the army would ask them. Except that bushie had 2 years and unlimited dough to armor vehicles-oh, wait, no need, you see, cakewalk, sweets and flowers, no ground war, Iraqis love us, and other delusions. Except that bushie's first military budget only grew by 4% and the biggest single expenditure in that increase was for...ready?...
officer housing.

[Yo_Mama_Been_Loggin]

25. Meanwhile we're spending a shitload of money....

...on a missile defense system that doesn't work.

[louis-t]

28. $15 billion so far!

[VegasWolf]

3. "We're turning a curner!" n/t

[Anakin Skywalker]

19. Yeah! And Crashing

into something. Something that will cause a lot of PAIN!

[rfranklin]

4. Exactly how can the economy be improving when...

we are hemorraghing jobs? When you look at the average (and this is using the phoney figures that Washington puts out) job creation over the past four years, we have not even created enough jobs to preserve the status quo. We're living on credit, individually and as a country, and George W. Bozo is still talking about tax cuts because we all love tax cuts! Meanwhile, we are over the cliff like Wile E. Coyote, feet treading air and about to take a plunge into the canyon below...

[lastliberalintexas]

8. And our credit habit is going

to really bite us in the arse once Greenspan and the Fed gang raise prime by several points. Anyone with an ARM better get refinanced now or go ahead and sell. And, easier said than done I know, but people need to pay off as much debt as possible, or move it to *fixed* rate cards that aren't tied to prime.

I like the Wile E. Coyote picture you painted. Actually something to laugh at in this dismal thread.

[kysrsoze]

24. An easy solution to the problem: Just don't look down

[patricia92243]

5. Heard this AM that the dollar is in BIG,BIG trouble thanks to deficit

I heard sometime ago that economists were saying our deficit was about to mess up the whole world's economy. Looks like this is coming true.

[VegasWolf]

7. Economists have said this all along, remember when Cheeny said

the RayGun had proved the deficit didn't matter. He meant
in terms of reelection. Some people will buy anything.
RayGun showed clearly what happens with a huge deficit and
now we are reliving it.

[vinny9698]

23. More tax cuts during a costly war

plus the trade deficits, and $40+ barrel oil. The war in Iraq is money going down a black hole, just sucking everthing in. All the equipment is breaking down and will need to be replaced. Does not look good.

[lastliberalintexas]

6. WTH?

"While the economy does appear to be recovering, things are not as bright as participants suggested. Job creation remains anemic, budget and trade deficits are at record highs, and a long-slumping dollar threatens to drive up interest rates."


Such dishonest, sloppy and slanted reporting. With the factors that are detailed in that second sentence, there is no way that the economy is truly recovering. If they'd just be honest, all they really meant was that corporate profits are increasing and the CEO class is happy. Doesn't have a darn thing to do with the macro picture though.

[Tace]

13. Key Word: "Appear" -- The Reporter Knows The Economic Fundamentals Suck

He's being euphemistic.

[tanyev]

9. Faith-based economies

are much rosier than reality-based economies.

[Just Me]

11. Well,...at least it's in print,...sorta',...

When will they whiddle this down to a man serving himself atop humanity?

When will they admit that such self-service is destructive to not only humanity but all that surrounds our pitiful species?

I guess they are so self-involved that it requires catastrophic proportions to squeeze these people back down to being,...merely a member of humanity.

Fine. Whatever.

[UpInArms]

14. the sorry sack-of-shit loves birth taxes -

how 'bout that $8 trillion debt that hangs over the head of every unborn child?

Estate taxes? OMG - let's call those "death taxes" - and who the fuck needs to worry about the dead?

These ppl make me sick :puke:

[TahitiNut]

16. Absolutely EVERY 'reform' benefits the wealthy and fucks everyone else.

Personal injury? The corporations can do it with abandon. Malpractice? Fuck - party hardy during med school! Push out those thalydomide babies! The Misery Profiteers get a free pass. Multigenerational wealth? It the new "landed aristocracy." Worker's social security? Sold to the company store. Class action? No. Class warfare.

[truthisfreedom]

17. bush thinks he can manipulate the economy like he manipulated the

election. but it will be a fraud, a sham, and everyone will see through it.

[wicket]

21. And unfortunately, we will all pay for it.

:scared:

[libpunkmom]

18. Noon news today

a segment called "Your money". Intro.. "Start the New Year Off With A New Job". Sounds good?? meat of the story.. "16,000 companies were polled. 1/4 will be hiring new people in the new year.... and only 10% will be laying off people in the new year".. All said with big smiles.. Next segment of "Your Money" was spent telling people how much better it was to do all of their holiday shopping with credit cards. Because carrying cash can be dangerous, and debit cards a unreliable and get over charged... Again. Big Smiles, "see how great the economy is doin! Back to you..." I watch this with 2 unemployed friends, and knowing that my husband will be unemployed on Dec.23...

[Anakin Skywalker]

20. So What? What is the Problem?

Gays still aren't allowed to marry! That's what matters, okee dokee?

[vinny9698]

22. Economic Disaster Coming

Huge budget deficits, trade deficits, weak dollar, Iraqi war meter running with no end in sight, oil at $40+ a barrel, loss of full time jobs with benefits being replaced with part time no benefit jobs, all point to one thing. Even the corporate insiders are selling their stock. They know.

[CoffeeCat]

26. Turning a corner, my arse...

During the campaign, Bush's brilliant explanation for lackluster economic numbers was, "Hey! We're turning the corner."

Well, it's been several months since Bush said we're turning this so-called corner of his.

That's a long time to be approaching one corner, don't you think?

Anyone else feel like Clark Griswold in "Vacation 2" when he continuously circled the street for hours crying out, "Big Ben! Parliment! There it is again kids! Big Ben! Parliment!..."

There's no corner. It's just one big circle of lies from which there is no escape!

Moron.

[rumpel]

27. Saw a small portion of the summit of 'invited panelists",I will never

go to Home Depot again