John Snow helps an uncertain supporter of Bush "defend his position"

[Bush_Eats_Beef]

http://www.whitehouse.gov/ask/20040618_2.html

jay, from charlotte writes:
I recently had a friend challenge me to tell him how in any way the economy is better now then before Pres. Bush took office. Unfortunately, I could not defend my position. Could you help.

John Snow: You can feel very confident in your position. First, this Administration inherited an economy that was in steep decline and weakened further by the bursting of the tech bubble. The United States suffered further uncertainty from terrorist attacks and corporate scandals. President Bush faced and addressed each challenge, and despite the serious setbacks, we now have a strong economy that is growing stronger.

GDP, the best overall measure of economic activity, has risen over the past year at the fastest rate in 20 years. Productivity, which translates into faster income growth and a higher standard of living, grew at the fastest 3-year rate in 5 decades from 2000-2003. Since the President has been in office, after-tax income has risen by 11 percent – that means Americans are keeping more of their hard-earned money. Today household wealth and homeownership rates are at all-time highs.

The President’s economic leadership and pro-growth policies have led to an economy that is firing on all cylinders.

[GoodSpud]

1. Can anyone explain this to me?

Mr. Snow states that productivity growth leads (I assume directly) to faster income growth and higher standards of living.

Now my understanding of productivity growth leads me to believe that it is basically Joe Sixpack producing more, in less time at the same cost.

Ahhh... I see... Mr. Snow is misleading jay...

T.D.P.

[Bush_Eats_Beef]

2. Hey, welcome to DU, T.D.P...

:toast:

[GoodSpud]

3. Thanks!

Ahh my first toast!

I have actually been around for quite some time. I just don't post too much.

;-)

T.D.P.

[Cat Atomic]

4. Dear Charlotte,

Terorrists mass murder, chemicals death destruction.

Killers shock and awe, way of life but not our values, and of course caves and evildoers.

I hope I've helped you.

[NormanConquest]

5. Separated at birth...?

[progdonkey]

6. not loading

the top pic isn't loading for me

[JohnLocke]

7. Me neither (nt).

[NormanConquest]

8. Sorry...

it's Sam the Eagle from the Muppet Show.

[progdonkey]

10. Ha! Nice...

I still can't see the photo, but I can imagine it now. :toast:

For me, though, Sam the Eagle will always be Sen. John Warner of Virginia (Conan O'Brien was the first to show them together... eerie).

[JohnLocke]

9. Read "Reason" by Robert Reich and learn how GDP is not the best indicator.