| Jon's Soapbox..... |
[03 Aug 2004|03:57am] |
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Apparently, Georgie is wearing rose colored glasses...
BUSH MISLEADS ON THE STATE OF THE ECONOMY
In his radio address Saturday President Bush declared, "this week we
received encouraging reports that show our economy is gaining strength."[1]
The actual reports, however, suggest otherwise.
A new GDP report by the Commerce Department revealed that the "economy grew
at a slow-paced 3 percent annual rate in the second quarter, renewing
concerns about a weak overall recovery and the potential for mediocre future
job growth." The figure was "the slowest growth rate since the beginning of
last year," down 1.5 percent from the previous quarter. Growth in consumer
spending also plummeted, falling to just 1 percent - down three points from
the previous quarter.[2]
( Read more... )
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