"Barbara Walker" <barbara.walker4@verizon.net> wrote in message
news:x_U2b.206783$It4.97223@rwcrnsc51.ops.asp.att.net...
"Maximus Bushwhacker" <sjhfaskjfd@ewjhrhg.com> wrote in message
news:xjQ2b.853222$3C2.19141966@news3.calgary.shaw.ca...
"Erik Trammel" <trammel@rogers.com> wrote in message
news:loO2b.49940$_V.5956@news04.bloor.is.net.cable.rogers.com...
At least according to BusinessWeek magazine. A weak economy will not
be
there in 2004 for the Democrats to exploit as they had in defeating
George Bush Sr.
in 1992.
BusinessWeek sees U.S economic growth close to a whopping 5% in the
third
quarter of 2003. It writes: "The economy shot out of the third quarter
like
Seabiscuit taking on War Admiral. From retail sails to factory
activity
to
exports,
almost all the economic reports were surprisingly positive. Indeed
some
economists
are beginning to whisper that the economy could be growing as fast as
5%
this quarter".
"Even if the growth does not hit 5% this quarter, the economy's
momentum
will help
to soak up excess capacity, turn executive sentiment around, and
prompt
businesses
to add to their payroll again". Job increases are bound to follow.
Why is this happening now? It is a convergence of factors. One is that
it
is time for the up phase
in the business cycle, interest rates are very low and Bush's
supply-side
tax cuts are
beginning to percolate through the economy. Business capital spending
is
now increasing,
a very good sign, and companies and industries are beginning to spend
money on capital equipment.
"Indeed", say BW, some of the best news in recent weeks is from the
industrial sector. First came
a big increase in the Institute for Supply Management's July index of
industrial activity. Next was the
fed's report showing July industrial production rose 0.5%, the highest
gain in six months. Manufacturing
output was up 0.2%, the third increase in a row".
"For now, at least, the economy is galloping into the second half,
propelled by accelerating demand
here at home, as the benefits of lower interest rates and tax cuts
kick
in...And the odds are high that
stronger spending by consumers and businesses will sustain the
economy's
faster pace down the home
stretch".
This is bad news for Democrats, "liberals", Marxists, socialists-- and
the
whole stinking anti-capitalist gang.
The tax cuts are going to backfire,
That sounds remarkably similar to earlier predictions by the Democrats,
namely that the Democrats are "going to win back the House in 1996!"
Still waiting for THAT Demmie prophesy to come true, BTW.
.
