Fed Says Economy Continuing to Expand - "OUR COUNTRY HAS NO ECONOMIC STRATEGY" - HILLARY

Springfield News Sun ^ | 3/3/04 | Jeannine Aversa

[Tumbleweed_Connection]

Factories hummed and consumers kept cash registers busy in the first two months of this year, fresh evidence the economic recovery is moving ahead, according to a Federal Reserve report Wednesday.

``Economic activity continued to expand in January and February,'' the Fed said in its latest survey of business conditions around the country. On the jobs front, however, the report found employment ``growing slowly'' in most central bank districts.

A separate survey of chief executives of the nation's biggest companies suggested hiring could start to pick up. One-third of the executives said they expected to increase hiring in the next six months, while 22 expected to cut payrolls and 45 percent expected no change, according to a Business Roundtable survey.

The association said that is the first time since the fall of 2002 that a larger share of executives planned to add to payrolls rather than cut them.

``America's CEOs believe that the U.S. economy is on course for continued steady improvement over the next six months,'' said Hank McKinnell, chairman of the Business Roundtable and Pfizer Inc.'s chairman and chief executive.

In the Fed report, factory activity rose in 11 of the 12 regional Fed districts, good news for America's manufacturers, who were hardest hit by the 2001 recession and have struggled mightily to get back on firm footing. In the Fed's Cleveland region factory activity didn't go up, but rather held steady, the Fed survey said.

Even with the pickup in factory activity, manufacturers have lost 3 million jobs since July 2000. That's the month factory employment peaked as the economy was enjoying a record-long expansion.

The lackluster jobs climate is a sore spot for President Bush, and the Democrats are trying to use it as an election-year issue.

``I don't think our country has an economic strategy,'' said Sen. Hillary Rodham Clinton, D-N.Y., who urged the administration to take steps reverse the loss of manufacturing jobs.

The Fed report also said that consumer spending on general merchandise rose in most of the Fed's regions except for St. Louis, which reported a slight decline.

Strong or strengthening sales were reported for the New York, Richmond and the Dallas regions. Sales growth was moderate in the Boston, Philadelphia, Chicago, Minneapolis, Kansas City and San Francisco districts. Retailers in Cleveland said sales met or exceeded expectations. In the Atlanta region, sales moderated a bit in February but were up from the same month a year ago, the Fed said.

However, it said that nearly all regions reported slower auto sales in January and February compared to a year ago.

Activity in the service sector also expanded in January and February. Boston and St. Louis, for instance, saw stronger demand for information technology services.

The report, dubbed the Beige Book for the color of its cover, will be used as a basis for discussion when central bank policy-makers meet on March 16.

Overall, ``it's a good report card for the economy,'' said Stuart Hoffman, chief economist at PNC Financial Services Group.

Most economists, including Hoffman, expect the rate-setting Federal Open Market Committee to hold rates steady at a 45-year low of 1 percent at the March meeting.

Fed Chairman Alan Greenspan on Tuesday said that extra-low short-term interest rates eventually will have to go up. He gave no clue when.

Since last June, the Fed's main lever to influence economic activity, called the federal funds rate, has been at 1 percent. Near rock-bottom short-term interest rates have helped motivate consumers and businesses to spend and invest, an important factor to lift economic growth.

Some economists believe the Fed will start to push up rates this year. Others don't believe higher rates will come until 2005.

On the employment front, the Fed's Boston region indicated that temporary-help agencies were placing more workers in manufacturing, software development and government. Employment agencies in New York indicated that they have been experiencing gradual increases in demand.

Agriculture conditions, meanwhile, were mixed in the first two months of the year, the Fed said. Demand for beef appeared to be recovering from the effects of the nation's first case of mad cow disease. But U.S. exports of poultry have been hurt by the outbreak of avian influenza, the Fed said.

[spyone]

Lord...no economic strategy...tax cuts, spending increases, the fed peddle to the metal on money supply...there has never been such a concerted effort to get the economy roaring in my memory.

[finnman69]

Meanwhile Hillary think cutting taxes on buisnesses would help in upstate NY. (of course she would creata another wasteful task study to research ways to create jobs..paid for by raising federal taxes).


http://www.freerepublic.com/focus/f-news/1089975/posts

The senator argued for the creation of an across-the-board 10-percent cut in corporate taxes for American factories in order to retain and attract jobs that might otherwise go overseas.

Randall Wolken, president of the Manufacturers Association of Central New York, disagreed with Clinton's assessment the current administration has been fatalistic.

"I do believe we have a major challenge that we need to address," Wolken said. "We need to be much more proactive and much less reactive."

Wolken said a tax cut for U.S.-based production would encourage and protect domestic manufacturing, but he was more skeptical of the creation of a new federal agency, arguing it is more important to get the government to aggressively retain and attract jobs.

Clinton said the proposed expanded research effort could be funded by postponing tax cuts supported by the Bush administration.

[Dr. Frank fan]

To be honest I don't want the government to have an "economic strategy" per se.

[anniegetyourgun]

``I don't think our country has an economic strategy,'' said Sen. Hillary Rodham Clinton, D-N.Y., who urged the administration to take steps reverse the loss of manufacturing jobs. "

How odd that she didn't provide any suggestions on how to do that. Why, she must not have any....or she does and she's not about to share them for the good of the nation, because she only cares about partisan politics.....or she's full of cowchips.

Correct answer? All of the above.

[MCRD]

Why doesn't Hillary release her 5 year plan?

[ScaniaBoy]

An economic strategy....that's what they have in the Euro-zone, and see what a success that's been! </sarcasm off>

[Dr. Frank fan]

Why doesn't Hillary release her 5 year plan?

Indeed. Let's hear how many tractors she wants to build!

[discostu]

That's because economic strategies are for directed economies, "directed economy" being a nice way of saying communism.

[Dr. Frank fan]

[...reverse the loss of manufacturing jobs.] How odd that she didn't provide any suggestions on how to do that. Why, she must not have any....or she does and she's not about to share them for the good of the nation, because she only cares about partisan politics.....or she's full of cowchips.

But isn't it obvious? The way to reverse the loss of manufacturing jobs, indeed to solve any problem, is to "focus like a laser on" that problem. Problem solved. That's how her husband did such a great job with The Economy. Right?

[The South Texan]

"Why doesn't Hillary release her 5 year plan?"

Just get any book at a library labled "Communism 101" and there you have it.

[Dr. Frank fan]

P.S. I've observed recently that a particular type of job, the "manufacturing job", has been singled out for special mention as a Type of job which is particularly important and crucial to worry about. Is it just because (D)s looked at the data and saw that job-loss for this particular Type of job was larger than for others? Or is there some intrinsic reason why we should necessarily care more about this Type of job than all other jobs put together, that I'm unaware of?

Hell with all the focus on "manufacturing jobs" as being the Most Important jobs in the world, I'm almost tempted to quit my current job and try to get one of 'em. They must be GREAT jobs to have if they're that important!!

[anniegetyourgun]

Sure thing. Heck, she'll be on to a fundraising dinner tonight, then healthcare tomorrow, and Head Start funding by evening. Real laser-like on the issues, she is.....

[jerry639]

SHUT UP HITLERY. Go take a trip around the block on your broom.

[Future Useless Eater]

>>manufacturers have lost 3 million jobs since July 2000

Nice to see how the Dims arrive at that number! It means they are crediting BUSH with those crashing numbers from SIX MONTHS BEFORE GW TOOK OFFICE. (The downturn occurred in the Clinton administration).

And I'll bet that 3 million figure ALSO does not represent TODAY's economy, but keeps repeating whatever were the worst-case numbers when it bottomed out early last year.

[Kaslin]

Why doesn't Hillary release her 5 year plan?

That is easy to answer. She doesn't have one

[White Eagle]

The connotation of "manufacturing job" is "union dues". Some people are still living in the past, when union support meant good things for a politician. Apparently, all these people were asleep when Dick Gephardt was endorsed by the largest and most powerful of the mid-20th century powerhouse unions - and promptly got blown out in the Iowa caucus. Kind of like fighting the last war.

[iceskater]

"The senator argued for the creation of an across-the-board 10-percent cut in corporate taxes for American factories in order to retain and attract jobs that might otherwise go overseas. "

Let me get this straight. It's ok to use tax cuts to stimulate the economy when manufacturing is involved but it's bad to give ME a tax cut so I can go out in the marketplace and buy stuff.
All tax cuts are stimulative to the economy. Why pick and choose?

[!1776!]

To be honest I don't want the government to have an "economic strategy" per se.

You and I both. Private industries should have their economic strategies and if they are allowed to do what they do best, the governments economic "strategy" will be handed to them.

I have serious concerns about a government that thinks it can pick and chose which industry to favor - only the market can do that and the feds should stay out of its way.

[iceskater]

Why doesn't Hillary release her 5 year plan?

That is easy to answer. She doesn't have one

Sure she has a plan. All the money you earn belongs to the government she wants to run.

[<1/1,000,000th%]

``I don't think our country has an economic strategy,'' said Sen. Hillary Rodham Clinton, D-N.Y.,..."

hillary additionally demanded that an FDR-style federal agency be created to centrally plan every aspect of our economic lives, except of course, hers.

[yankeedame]

"I don't think our country has an economic strategy," said Sen. Hillary Rodham Clinton...

You mean, like in N. Korea, Red China and like? To that I can only say thank heavens!

[finnman69]

Another example that Hilalry does not have a clue what she is doing.

[Kaslin]

Sorry about that. My mistake

[stanz]

We do have an economic strategy. We've had one for the last 200 years. It involves letting private enterprise steer the ship. Too bad poor Hillary can't be privy to and in control of boardroom decisions. She would rather have the federal government take charge of our financial fate (and be at the helm of that Leviathan, too.)
Get back on your broom, bitch.

[Tumbleweed_Connection]

Maybe. America is a very innovative country, progress is generally defined by our nation. To be blunt, consider what has occurred during the previous 200 years. We began with minds, land, and goals. Today we lead the world.

Changes have obviously occurred during the process and technology has eliminated the need for manual labor as a result. In those instances where it is still used, foreign countries are willing to provide similar services for pennies on the dollar. America has moved on, what sense does it make to fight for what we have already left behind? Government is insisting on awarding projects to national companies rather than outsourcing to foreign businesses and paying 60% more? Our tax dollars?

Consider why this plan is endorsed by the left.

[governsleastgovernsbest]

I don't think our country has an economic strategy, said Sen. Hillary Rodham Clinton, D-N.Y.

But when I, I Hillary Rodham Clinton, am President, we will have not merely a strategy, but a PLAN!

A PLAN, do you hear!? A PLAN, that I, Hillary Rodham Clinton, will devise. And pursuant to that plan, every American will have what they need, as I determine IT, and will contribute to the extent of their abilities, as I shall judge.

And every company, every worker, every man, woman and child will comply.

YOU WILL OBEY! DO YOU UNDERSTAND??

[Mike Darancette]

The economic strategery is to lower taxes and "get out of the way".

[knarf]

"The senator argued for the creation of an across-the-board 10-percent cut in corporate taxes for American factories in order to retain and attract jobs that might otherwise go overseas."

Um, wouldn't this be a tax cut for the wealthy?
Actually this is in agreement to President Bush's tax cuts to promote economical growth.

Watch out, America ... the krintungs are trying to steal our thunder again.

[Buckeye McFrog]

"OUR COUNTRY HAS NO ECONOMIC STRATEGY" - HILLARY

Thank Goodness for that! The USSR had a very well-documented, ambitious and thoroughly thought-out economic strategy that was continuously updated (once every five years).

[mo]

why yes...but how much of that tax cut did you give back to her Highnesses' campaign...you peasant you.... :)

[Noumenon]

"OUR COUNTRY HAS NO ECONOMIC STRATEGY" - HILLARY

Spoken like the Marxist filth she is. I'll just bet she's got a 'strategy' - backed by the gun and the gulag for those who won't go along.

[bray]

HildaRat had an economic plan when she was in power. Her plan was to cook the books for 8 years and report the recession wasn't happening when it was. She created jobs every bit as real as her tax cut! When has the gummit ever created one job??

Pray for W and The Truth

[Brilliant]

No economic strategy? Sure we do. Just win in November, and things will really take off.

[fuzzycat]

You just hit the nail on the head !!

[Choose Ye This Day]

Um...excuse me, Ms. Clinton? You may want to take a look at this. CNN said that the Bush jobs level is ever bit as good as your husband's.

CLINTON ECONOMY VS. BUSH ECONOMY

During Clinton's "Great Economy" back in 1996:
Unemployment was at 5.6%
Average wage was $11.82/hr.
Inflation was 3.3%

During George W. Bush's "miserable failure" economy of 2004:
Unemployment is at 5.6%
Average wage is $15.40/hr.
Inflation is 1.9%

So 5.6% unemployment is lousy today, because a Republican is in the White House? Funny, back in 1996, CNN said that 5.6% unemployment was LOW! Amazing how the spin changes, depending on who is in power.

The Dems, paleo-protectionists and the lamestream media don't want us to see the true picture, and realize that the Bush economy is pretty good, all things (terrorist attacks, war, etc.) considered.

Find out the rest, in CNN's own words, at this thread:
http://www.freerepublic.com/focus/f-news/1087145/posts

[harpo11]

``I don't think our country has an economic strategy,'' said Sen. Hillary Rodham Clinton, D-N.Y.,..."

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Well, thank God for small miracles. It's about time someone of Mrs. Clinton's profound and deep intellect come out and tell the truth about this situation, because it's really We the People who know what the strategy is and that Mrs. Clinton is knowing that people like you do nothing but stand in our way.