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Friday, August 01, 2003
Well, I'm glad somebody's optimistic, I guess.
Nasdaq Headlines: " Following a drop in the number of jobs in the country, President George W. Bush fretted that too many people remain unemployed and urged Congress to enact more of his agenda.
More? Jeebus, haven't we suffered enough?
Earlier in the day, the Labor Department reported that, while the overall unemployment rate dipped to 6.2% in July from 6.4% in June, 44,000 nonfarm payroll jobs were lost. Economists had expected that about 25,000 new jobs would have been created during the month.
And let's not forget that the latest tax cuts were promised to create 1.4 million new jobs by the end of 2004. So far, Bush's economic policies remind me of the guy who loses money on every deal but says, "hey, we make it up in quantity!"
Noting that other economic reports in recent days have been more upbeat, Bush said, 'My attitude is, is that even though some of the numbers are good, there's still too many people looking for work. And so we're going to keep working on the economy until people can find a job.'
"Keep working", in Bush lingo, of course means "take a month's vacation in Crawford with interruptions for fund raisers."
Asked if he was surprised that three large tax cuts and 12 rate cuts by the Federal Reserve haven't done more to stimulate the economy, Bush said the economy has had to overcome a series of obstacles.
Bush said these include a sharp decline in the stock market, a recession, the Sept. 11 attacks, the corporate scandals and worries during the lead-up to the war in Iraq.
And the biggest obstacle, of course.....naaah, that's just too easy.
Despite this, Bush said he was optimistic going forward."
He can afford to be optimistic. No one's going to lay him off.
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