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If ever there was a market test of economic policy, the last three years have been it. The stock market has recovered from its implosion in Bill Clinton's last year in office, unemployment is down to 4.7%, and growth has averaged 3.9% in the three years since those tax cuts passed--well above the post-World War II average and more than twice the growth rate in Euroland. Yes, gas prices are high and interest rates are rising, which helps to explain the anxiety felt by some of the public. But these headwinds are all the more reason to be impressed by...

March 30, 2006--Fifty-five percent (55%) of Americans say they are better off today than they were four years ago. A Rasmussen Reports national opinion poll of 5,000 adults found that 36% disagree and say they are not better off. The sense of progress is found across most demographic groups. Fifty-six percent (56%) of men and 54% of women say they are better off today. That view is shared by 55% of white Americans, 52% of black Americans, and 58% of all other Americans. There are some difference--retired Americans are less likely than working age Americans to say they are better...

The number of newly laid-off workers filing claims for unemployment benefits fell to the lowest level in more than five years last week, providing strong evidence that the labor market is shaking off the effects of a string of devastating hurricanes. (snip) The decline of 35,000 claims was much better than Wall Street had been expecting and bolstered the belief that the labor market is on the mend after a rough period in the fall when Gulf Coast hurricanes caused the loss of more than 600,000 jobs over a period of four months. The total for weekly jobless claims was...

Former GE Chairman and business management guru Jack Welch has some advice for President George W. Bush: Start bragging about the economy. Welch told Fox News Channel that President Bush has much to be proud of with regard to the economy, but he has to get out there and sell himself - and his accomplishments - to the American people to let them know about it. "President Bush put a tax bill through that supported capital formation and risk taking,” Welch said. "We’ve created 2 million jobs a year after the 9/11 attacks. That’s a remarkable accomplishment. Bush has to...

George W. Bush is laying a claim to be the President who did the best job creating jobs for blacks. Currently, black unemployment is 9.4%, which is significantly lower than the 10% it averaged in the Clinton years. The current rate is also much lower than the average black unemployment rate over the past 30 years, which is 12.4%.

The Bush years have seen an economic boom take place among the world's developing nations, according to my analysis of the CIA world fact book, and www.indexmundi.com, an internet site which keeps historical record of past CIA world fact books. This article is merely describing a positive trend that appears to be benefiting billions of the world’s poor. I make no inference as to why it is happening, apart from the title tease; I do find it ironic, however, that it is occurring at this time: Among those who most vocally profess concern for the world’s poor, their most hated...

The personal, commercial and civic desolation left by Hurricane Katrina has inevitably bred comparisons to another scene of unthinkable loss and ruin: lower Manhattan after 9/11. While the recovery effort on the Gulf Coast is unique, one area in which New York's experience provides an example is its support for small business reconstruction. Like Hurricane Katrina, the 9/11 attacks destroyed or crippled thousands of the smallest local businesses and nonprofits... the "soft" infrastructure of any commercial or industrial district.... After 9/11, Seedco became the primary organization assisting these businesses. We tailored a specific response to the challenges faced... Our approach...

Many organizations in the MSM have tried to label Bush as a lame duck because of the Hurrican Katrina situation. Did anyone notice that the DOW went up 80+ points after the day of his speech? Business operators are enthused at the state of the economy and this will only attract more foreign investment. The rebuilding after Hurricane Katrina can only be a success. The true test will be on October 15th, the biggest day of the New World Order history. If Iraq is successful in passing the Constitution foreign investment into the U.S. will sky rocket, especially if rebuilding...

The government promised banks a hands-off approach in overseeing nearly $5 billion in Sept. 11 recovery aid to small businesses. What it got in return was numerous loans to companies that didn't need terror relief - or even know they were getting it, The Associated Press found.

HARRISBURG, Pa. - In the name of helping businesses hurt by the Sept. 11, 2001, terrorist attacks, the federal government approved nearly $111 million worth of loan guarantees and low-interest loans for a motley mix of Pennsylvania enterprises, including doughnut shops, a bowling alley, an exercise gym, a flour mill and a tree nursery. The U.S. Small Business Administration provided almost $5 billion through a mix of direct loans and federal guarantees for bank-issued loans. The SBA loans carried low-interest rates and payments deferred for two years; the guarantees assured banks that taxpayers would cover any defaults, and the government...

The government promised banks a hands-off approach in overseeing nearly $5 billion in Sept. 11 recovery aid to small businesses. What it got in return was numerous loans to companies that didn't need terror relief — or even know they were getting it, The Associated Press found. "Had we known it was 9/11 money, we would not have borrowed it," said John Adams, a vice president of Brankle Brokerage and Leasing in Marion, Ind., who didn't know until informed by AP that his company's $1.33 million loan had been drawn by his bank from a program created by Congress to...

The government's $5 billion effort to help small businesses recover from the Sept. 11 attacks was so loosely managed that it gave low-interest loans to companies that didn't need terrorism relief — or even know they were getting it. And while some at New York's Ground Zero couldn't get assistance they desperately sought, companies far removed from the devastation — a South Dakota country radio station, hair salons in Monroe, a Virgin Islands perfume shop, a Mukilteo pet-grooming shop and more than 100 Dunkin' Donuts and Subway sandwich shops — had no problem winning the government-guaranteed loans.

SEP. 9 2:31 P.M. ET Four years after the worst terrorist attacks on U.S. soil, nearly three quarters of Americans believe the government did a good job helping the economy recover from Sept. 11. An AP-Ipsos poll found there was general satisfaction with the economic relief efforts from Congress and the Bush administration among people in all gender, race, educational and age categories.

First, more Americans have jobs today than at any other time in history. Second, over the past two decades or so, the U.S. has created more than 40 million jobs — twice as many as Europe and Japan combined. And third, the U.S. has one of the lowest jobless rates of all developed nations. It was only a year ago that John Kerry was blasting the “jobless recovery.” Lou Dobbs was flogging “outsourcing” every night on CNN as a sign of peril for the American workforce. That criticism now looks wildly off base. The 5% jobless rate today is almost...

Silicon Valley employment expanded in July, the first month since the dot-com bust that more people were earning paychecks than a year earlier. According to a state report released Friday, Santa Clara and San Benito county employers tallied 871,300 positions on their payrolls last month -- 600 more jobs than in July 2004. It represented a barely-there increase of 0.1 percent. ``It's just crossed that number by a hair's breadth, but you could say it's a landmark in that it's positive for the first time,'' said Steven Cochrane, senior economist at Economy.com. He cautioned it's still too early to celebrate...

In July 207,000 jobs were created, above expectations, and the unemployment rate held steady at 5.0% Upward revisions for May and June as well.

When it comes to economic policy, ...Bush has all the luck. He's like a drunk who wanders across a six-lane highway and somehow never quite gets smushed. 1-Bush proposed enormous tax cuts to shore up his conservative credentials in the 2000 primaries. ...after the first reckless cuts were enacted, along came the perfect after-the-fact justification: terrorism. Suddenly people were terrified about air traffic grinding to a standstill, consumers being too frightened to go shopping and buildings being uninsurable. The economic boost from the tax cuts seemed almost prescient. 2-the post-Sept. 11 economic trough ended in time for Bush's reelection. Bush...

Growth clocked in at a solid 3.4 percent in the spring quarter, a sign that record-high energy prices did little to impair the economy, the Commerce Department reported yesterday. Record spending on housing, steady spending by consumers and businesses and a big drop in the trade deficit all contributed to the pace of expansion, which was somewhat slower than the first quarter's 3.8 percent annual rate. But while sales of autos were strong, they served primarily to empty full lots at dealerships, contributing to a massive drawdown in inventories that subtracted substantially from growth during the quarter, the department said....

The economy grew at an annual rate of 3.4 percent in the second quarter on the strength of consumer spending, investments and exports, the government reported today. The report from the Commerce Department showed broad and sustained growth in areas like software, housing, car sales and government spending, with few signs of inflation. It was the ninth straight quarter of growth exceeding 3 percent. As expected, the gross domestic product slowed from the first quarter when it increased by 3.8 percent. Economists were expecting second-quarter growth of 3.5 percent, and it appeared much of the shortfall was caused by businesses...

For the first time since President Bush took office, an unexpected leap in tax revenue is about to shrink the federal budget deficit this year, by nearly $100 billion. On Wednesday, White House officials plan to announce that the deficit for the 2005 fiscal year, which ends in September, will be far smaller than the $427 billion they estimated in February. Mr. Bush plans to hail the improvement at a cabinet meeting and to cite it as validation of his argument that tax cuts would stimulate the economy and ultimately help pay for themselves. Based on revenue and spending data...

So much for record budget deficits. The tide of economic growth and surging corporate and individual tax revenues are now expected to erase as much as 25% of the red ink the government was planning to expend this year. Three-quarters of the way through fiscal 2005, the Congressional Budget Office says the deficit will come in well shy of $350 billion and may fall below $325 billion. The White House, which had forecast a record $427 deficit, will update its view Wednesday. Some see the better-than-expected federal revenues as evidence that President Bush's tax policy is working as advertised. "This...

<p>The number of millionaires in the U.S. increased to a record last year, boosted by gains in stocks and global financial markets, according to two new studies.</p> <p>The number of U.S. households with a net worth of $1 million or more rose 21% in 2004, according to a survey released yesterday by Spectrem Group, a wealth-research firm in Chicago. It is the largest increase since 1998, according to the study, which was based on data from more than 450 qualified respondents. There now are 7.5 million millionaire households in the U.S., breaking the record set in 1999 of 7.1 million. The study excluded the value of primary residences, but included second homes and other real estate.</p>

The number of millionaires in the U.S. increased to a record last year, boosted by gains in stocks and global financial markets, according to two new studies. The number of U.S. households with a net worth of $1 million or more rose 21% in 2004, according to a survey released yesterday by Spectrem Group, a wealth-research firm in Chicago. It is the largest increase since 1998, according to the study, which was based on data from more than 450 qualified respondents. There now are 7.5 million millionaire households in the U.S., breaking the record set in 1999 of 7.1 million....

WASHINGTON — U.S. employers created a surprisingly large 274,000 new jobs in April and added more workers in each of the two prior months than first thought, the Labor Department (search) said Friday in a report that eased fears about economic growth. The April jobs total far outstripped Wall Street economists' expectations for 170,000 new jobs. Further underlining the surge, the government said 93,000 more jobs were created in February and March than it previously reported — 146,000 in March instead of 110,000 and a whopping 300,000 in February instead of 243,000. The unemployment rate, however, which is calculated from...

NEW YORK - For the first time since weathering their worst fiscal crisis in more than 60 years, most states are again filling their coffers with enough money to pay their bills. In 2003, more than 40 states had to bridge yawning budget deficits. This year, only three of them expect their revenues to fall short. As the economy has recovered, increases in revenues from personal income taxes - which make up more than a third of all state tax collections - have helped improve the financial positions of states. In 2004, state authorities estimate that revenues from personal income...

Fortune 500 companies that invested millions of dollars in electing Republicans are emerging as the earliest beneficiaries of a government controlled by President Bush and the largest GOP House and Senate majority in a half century.

Pace of US economic growth bolstered by stronger exports WASHINGTON (AFP) - Although the pace of US economic growth slowed during the last quarter of 2004, it motored along at a far faster clip than previously thought, according to a fresh government estimate. The Commerce Department said the economy grew at a slightly better than expected annual rate of 3.8 percent in the fourth quarter of 2004, as it issued its first revision to an initial estimate that the economy had expanded at a 3.1 percent rate. The re-reading of the country's economic health was marginally better than some Wall...

The US economy expanded by 3.8 per cent in the final three months of last year, faster than previously expected due to a lighter drag from the trade deficit coupled with faster business spending. For the year as a whole the economy grew at 4.4 per cent, the fastest pace since 1999. The previous estimate for the quarter was 3.1 per cent, which came as a disappointment to economists most of whom had expected a figure closer to 4 per cent annualised. The figure supports the assertion by the Federal Reserve that the economy has continued to expand at a...

The economy grew at a solid 3.8 percent annual rate in the final quarter of 2004 -- stronger than previously estimated-- an encouraging sign that the business expansion was firmly entrenched at the start of the new year.

WASHINGTON (AP) - The economy grew at a solid 3.8 percent annual rate in the final quarter of 2004 - stronger than previously estimated- and an encouraging sign that the business expansion was firmly entrenched at the start of the new year. The new reading on gross domestic product, released by the Commerce Department Friday, was better than the government's initial calculation made a month ago. That estimate showed the economy growing at a 3.1 percent pace. The improvement reflected more robust spending by businesses on capital equipment and to build up inventories of goods. The trade deficit also was...

As the President suggested, the federal tax system has become a serious drag on the U.S. economy -- riddled with complexities, punishing success, and discouraging productive economic activity. The complexities of the tax code reflect its gradual transformation from its initial function as simply a means of raising revenue into its current role as the government's principal tool for molding behavior and dispensing favors. The disincentives embodied in the tax code serve to discourage individuals and businesses from saving, investing, working harder, and taking risks.....

WASHINGTON - Sales of new U.S. homes rose a smaller-than-expected 0.1 percent in December to close out the strongest year on record, a government report showed on Monday.

The economy finished 2004 with its best performance in five years despite slowing in the final stretch. The outlook ahead: a moderate jog, rather than a sprint. The broadest barometer of the country's economic standing, the gross domestic product, clocked a 4.4 percent increase for all of last year spurred by brisk consumer and business spending, the Commerce Department reported Friday. The latest snapshot of GDP, which measures the value of all goods and services produced within the United States, exceeded the 3 percent registered in 2003 and marked the strongest showing since the 4.5 percent gain of 1999. "When...

WASHINGTON (Reuters) - U.S. retail sales jumped a more-than-expected 1.2 percent in December, the government said on Thursday, as car dealers, furniture stores and on-line retailers reported strong sales. Retail sales in all of 2004 jumped 8.0 percent, the biggest gain since 1999, the Commerce Department (news -web sites) said.

WASHINGTON (Talon News) -- The Labor Department announced Friday that U. S. employers added 157,000 workers to their payrolls in December making 2004 the strongest year for job creation since 1999. Figures for October and November were also revised upward, accounting for a total of 2.2 million new jobs created since January. Jobs gains averaged about 190,000 jobs per month during the year. Even though the unemployment rate held steady at 5.4 percent, that number is below the average of each of the past three decades. At 5.4 percent, the unemployment rate has declined significantly from 6.3 percent in June...

WASHINGTON - Employers hired workers in 2004 at the fastest pace in five years, with overall payrolls rising by 2.2 million. December's job growth was a bit lower than expected, with the unemployment rate holding at 5.4 percent. President Bush (news - web sites) called the numbers "very positive," but economists weren't quite so enthusiastic. One said the year went out "like a cow: beefy but docile." The Labor Department (news - web sites) reported Friday that employers expanded their payrolls by a net 157,000 in December, bringing the year's increase to the highest level since 1999. That year, 3.2...

As 2004 draws to a close, it is clear that the U.S. economy has turned in another strong performance. That is not only true in terms of its absolute rate of growth; it is especially true in terms of its growth rate relative to other advanced economies. The year-end numbers will not begin surfacing until next month, but it will almost certainly be true that the U.S. average growth rate during 2003 and 2004 will exceed 4 percent per year. Measured on a fourth-quarter-over-fourth-quarter basis, which best describes economic activity during a given year, the 2003 growth rate was 4.4...

Reuters U.S. Consumer Confidence Rebounds in Dec Tuesday December 28, 10:09 am ET NEW YORK (Reuters) - U.S. consumer confidence rebounded in December to a five-month high as consumers reacted positively to job growth and economic expansion. The index jumped to 102.3 from an upwardly revised 92.6 in November as consumers' satisfaction with both the current state of the economy and its prospects for next year improved, the private business group said on Tuesday. ADVERTISEMENT The index easily surpassed economists' forecast for a December reading of 94.6. The Conference Board's Present Situation Index increased to 105.9 in December from 96.3...

New claims slid 12,000 to 323,000 in the week ended Nov. 20. Economists expected little change. The 4-week average, which smooths out weekly swings, slid 6,500 to 332,000, the lowest in four years. Continuing claims fell 25,000 to 2.755 mil in the week ended Nov. 13 to a 3 1/2-year low. The data signal companies may be less reluctant to hire. More

The Standard & Poor's 500-stock index climbed back this week to where it was before 9/11, and at the rate they're going, other stock benchmarks are just a few days away from regaining that ground. With the S&P the highest since 9/11, Wall Street's challenge now is to revive the Dow, which is 200 points shy of a post-9/11 high, while the Nasdaq is about 70 short of that mark.

The number of new jobs soared at the sharpest rate in seven months in October, with a surprisingly strong 337,000 jobs added to payrolls — twice the 169,000-job growth that Wall Street economists had forecast. The blockbuster number helped by a surge in construction activity as hurricane-wracked areas in the Southeast were rebuilt. Not only was October a strong month but the number of jobs created in the two prior months was revised up -- to 139,000 in September instead of 96,000 and to 198,000 in August instead of 128,000. Still, the unemployment rate (search) edged up to 5.5 percent...

WASHINGTON — Consumers, who substantially slowed down their spending in late summer, roared back to life in September, boosting their purchases by 0.6 percent. The gain in spending reported Monday by the government far outpaced the increase in incomes. The Commerce Department (search) attributed the spending surge to a big jump in purchases of big-ticket products (search) such as cars, reflecting the fact that auto dealers brought back popular sales incentives. The 0.6 percent rise in consumer spending followed an outright decline of 0.1 percent in August, which had followed a 1.2 percent July increase. Consumer spending is closely watched...

BLOOMBERG JOBS STORY

600 Jobs Arrive Lowe's dedicates its $75 million Poinciana Distribution Center. By Mike Grogan The Reporter mike.grogan@theledger.com POINCIANA -- Lt. Gov. Toni Jennings called it "a huge operation for Osceola County." PIERRE DUCHARME/THE REPORTER From left, Osceola County Commissioner Paul Owen, Lt. Gov. Toni Jennings and Kissimmee Mayor George Grant help dedicate the Lowe's Osceola County Regional Distribution Center in Poinciana. Osceola County Manager Ed Hunzeker praised it as, "A wonderful addition to our county, that is bringing good-paying jobs and a history of good corporate citizenship to the area." They were both referring to the more than 1.3-million-square-foot Lowe's...

The US economy probably grew at a rate of 3.7% in the third quarter of 2004. Details to come...

With the presidential campaign heading into its final stretch, Wisconsin continues to pick up jobs more rapidly than most key battleground states. Employment figures released this week by the U.S. Bureau of Labor Statistics paint a complex picture of the swing states, showing job growth since December but, in most cases, job losses over the course of the Bush presidency. That's true of Wisconsin, too, but the state has fared better than most of its tossup counterparts. Among 11 intensely contested swing states, only rapidly growing Nevada has added jobs at a faster rate this year than Wisconsin. And the...

WASHINGTON - The number of new people signing up for jobless benefits fell sharply last week, offering a dose of encouraging news that the recovery in the labor market may be strengthening a bit. The Labor Department (news - web sites) reported Thursday that new filings for unemployment insurance declined by a seasonally adjusted 25,000 to 329,000 for the week ending Oct. 16. That marked the lowest level since early September. In the prior week, claims had climbed by 16,000. The latest snapshot of the layoffs climate was better than economists were expecting. They were forecasting claims to total in...

The "help wanted" signs are back up all across New York. After three long and painful years, the city's job market is humming, with 51,000 new jobs created this year in the private sector and another 70,000 expected in 2005. "There is a marked improvement. The city basically has turned the corner," said Jeff Weissenstein, a labor market analyst for the state of New York. The growth is reflected in a wide range of areas, including clothing retail, health care, private education, accounting, tourism, transportation and real estate. Home retail, especially the so-called big box stores like Target and Home...

Solid Jobs, Solid GDP Larry Kudlow (archive) October 11, 2004 | Print | Send U.S. job creation continued to move ahead at a steady pace with the announcement Friday that 96,000 non-farm payrolls were added to the economy. Over the past thirteen months 1.9 million new jobs have been created. The unemployment rate stands at a historically low 5.4 percent. One hundred forty million Americans are now working, a new U.S. record. The brightest spot in the Labor Department’s September report is a 3.2 percent annual rate of increase for third quarter hours worked. This is the strongest quarterly rise...