Bush Treasury Secretary Snow on The Economy (June 20)

[stewert]

Here is what Snow said on June 20, 2004. This guy is clueless.

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Treasury's Snow Sees Economy Aiding Bush
Sunday June 20, 4:59 pm ET

WASHINGTON (Reuters) - A stream of upbeat economic news should improve the view Americans have of President Bush's handling of the economy, U.S. Treasury Secretary John Snow said on Sunday.

"The news on the economy ... is so good and so pervasive, so far-reaching, that I think people will change their views here," the U.S. Treasury chief said.

Bush has been stung by charges he has presided over the weakest labor market since the Great Depression. While U.S. employers have begun hiring strongly in recent months, 1.2 million jobs have been lost since Bush took office.

Kerry advisers have argued that many Americans have yet to enjoy any benefit from an increased economic pace, with wage growth still anemic and the middle class struggling with rising costs, particularly for health care.

Snow noted that nearly a million jobs had been created in the last three months and that U.S. gross domestic product had grown at its fastest pace in 20 years over the past three quarters. And he offered an upbeat assessment of the future.

"I think we're going to see more of the same, continuing strong GDP growth and continuing strong job growth," he said.

Snow declined to offer a specific projection for job growth, but said private forecasts which envision 200,000 to 300,000 new jobs each month over the course of the year looked "reasonable."

He also said private forecasts for economic growth were in line with Bush administration assumptions. "It looks like we'll have growth for the coming quarters of over 4 percent," he said.

Full Story:

http://www.homeboundmortgage.com/Mortgage_Info/BusinessMortgage_M6D21Y4/TopNews1.htm

[ClintonTyree]

1. You can't..................

put any lipstick on this pig. The economic news today was horrible. I guess the Cons just want one more redistribution of wealth from the middle class to the upper class before they lose thier boy Bush in November. The stock market is tanking and it's the little guys that will get hurt, again.

[stewert]

2. They Are Trying............

Gregory Mankiw is the Bush economic council Chairman, he was just on CNBC spinning his ass off. He said the economy is not adding jobs as fast as they would like but the unemployment number went down etc. It was funny as hell watching try to spin the July jobs report, even the CNBC Nazis were not buying it.

He used a lot of the same spin from this speech he gave in May.

http://www.whitehouse.gov/cea/mankiw-cnbc.html

[Moderator]

3. stewert

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