From The International Tribune, 7/31/04:
http://www.iht.com/articles/532070.html
Bush is put on the spot as growth falls to 3%
By Eduardo Porter NYT Saturday, July 31, 2004
2d quarter slowdown surprises forecasters; energy prices blamed
U.S. economic growth slowed more abruptly than expected in the second
quarter, as higher energy prices prompted consumers to slow their
spending.
The news appeared to undermine President George W. Bush's efforts to
show solid economic growth as a validation of his administration's
policies.
..
The Department of Commerce reported Friday that gross domestic product
- the broadest measure of the nation's domestic output - had expanded
at an annual rate of 3 percent in the quarter, sharply slower than the
4.5 percent growth achieved in the first quarter of the year and
significantly below the 3.7 percent forecast from Wall Street.
..
The slowdown came as a setback to the U.S. president and played into
the hands of his Democratic challenger, Senator John Kerry, who has
criticized the president's administration of the economy as a failed
strategy.
..
In a campaign stop in Springfield, Missouri, Bush omitted to mention
the new data.
___________________________________________________________
Yeah, that's it, Georgie, don't talk about it, maybe the bad news'll
just go away.
Harry
.
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