Posted on 10/19/2006 12:12:34 PM PDT by freemarket_kenshepherd
Polls have repeatedly shown a public dissatisfied with the economy under President Bush. A January 2006 Pew Research Center survey said 64 percent of those questioned thought economic conditions were fair or poor – and that wasn’t even Bush’s low point. The May New York Times/CBS poll gave Bush just a 28 percent rating for the economy.
Network news stories have painted a bleak picture of an economy in decline. Reporters treated gas prices as a metaphor for the economy – only when they were high. And a slowing housing market coming off two record years was just another club used against Republican incumbents by a pessimistic press.
But the truth of the economy is far different. The United States continues to enjoy solid job growth. In the last year, 1.7 million new jobs were added and nearly 6 million have been created since August 2003 – a streak of more than three years of positive growth. Unemployment is a low 4.7 percent. Gas prices have declined once again – more than 75 cents from their recent highs. And though the economy actually grew just 2.6 percent in the second quarter of 2006, which followed the rapid expansion of the first quarter – revised upward to 5.6 percent.
That’s not how things looked on the evening news shows on all three broadcast networks – ABC, CBS and NBC. The Media Research Center’s Business & Media Institute looked at all stories referencing the “economy” or “economic” news between Aug. 1, 2005, and July 31, 2006. Here are some key findings: [for more follow link to full report]
(Excerpt) Read more at businessandmedia.org ...
People got caught up in the irrationaal enthusiams of the Clinton speculative bubble even though a lot of them got hurt when the Clintonistas cashed out. Putting the crooks in jail and strengthening the fundamentals is boring, by comparison. But remember, the network news is watched by liitle old ladies, and 25% of them are poor even after 60 years of Social Security.
He forgot to mention that the national debt is in decline as well.
The projected budget deficit recently decreased. The national debt has not declined. These are two very different things.
What was the formula for the old "Misery Index"? Was it unemployment rate plus interest rates? I think W beats Clinton there.
"The projected budget deficit recently decreased. "
You're right.
I misspoke(mistyped?).
"Productivity gains and a steadily recovering manufacturing ecconomy are giving more manufacturers the confidence to bring new and forestalled capital investments in equipment and systems back into the pipeline. Although GDP growth is expected to hover between 2.5 and 3 percent in 2007, economists and industry experts predict manufacturing will outpace the GDP at least through 2008. In 2007, maintenance, repair and operations consumption may grow an average of 5.8 percent overall."
Every mention of the economy I've read in Big Media either refers to it as "sluggish" or "slowing". I've yet to hear or read one statement by Big Media outlets glowing about a strong economy. I know, what a shock. Contrary to popular wisdom people do believe what they read in the papers.
Actually the national debt has significantly declined as a percentage of GNP. That is a more significant economic measurement that the absolute amount of the debt.
Dow 12,000 bad news this A$$holes.
I honestly don't know what the debt to GDP ratio is, but considering compound interest, I would doubt that it was decreasing as a % of GDP.
No, I know the difference between the two. The national debt has been declining a a percentage of GDP, because GDP has been growing. The US debt as a percentage of GDP is not significantly higher than that of other industrialized nations.
So, let's see if I have this straight:
1) 6 million new jobs in last three years
2) Dow at 12,000
3) Gasoline about to drop below $2 per gallon again
4) Economic growth in first two quarters this year = 5.6% * 1.026 = 5.75%
5) Unemployment at 4.7% (possibly a bit lower now)
6) Record tax revenues from lower income taxes
Yep. Looks like a terrible economy to me. It must be time to vote in the Moonbats to "improve" the economy with huge tax increases, followed by a dry up of capital investment, no new hires, layoffs, Dow tanking, lower tax revenues, zero economic growth, etc. Sounds smart to me. ;)
booked and bumped!
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