Bush says tax cuts responsible for growing economy

[sabra]

<<SNIP>>
http://www.alertnet.org/thenews/newsdesk/N05231273.htm

Bush says tax cuts responsible for growing economy

CRAWFORD, Texas, Aug 6 (Reuters) - As Americans question his Iraq policy, President George W. Bush crowed about the strength of the U.S. economy on Saturday and credited his hotly debated tax cuts for the growth.

Bush was upbeat in his weekly radio address a day after the Labor Department reported the U.S. economy added 207,000 jobs last month, a stronger-than-expected gain.

"Recent economic reports show that our economy is growing faster than any other major industrialized nation," he said from his ranch in central Texas.

The bright economic news was in contrast to the Iraq war, where at least 27 U.S. troops were killed in the past week. A CBS News poll on Wednesday said 55 percent of Americans did not approve of the way Bush was handling the Iraq war, compared with 41 percent who approved.

<</SNIP>>

[etherealtruth]

1. Bush "says" many things that are not true

My question: Are all / or most sectors of the economy growing? Is it just those sectors related to defense ... ?

[reformedrepub]

15. Dont forget

All the former unemployed Union men and women, mostly in the Midwest...who are now working again at......WALMART...That's right those machinists and auto workers and steelworkers and sheet metal workers and teamsters etc etc etc..who are making $6.00 an hr instead of the $20-25 they used to make...Yesiree George, the economy is booming!!!

[tmooses]

23. I know that, you know that and many of the people I know looking for

a decent paying job know that. How in the hell does the public buy this crap from Bush I'll never know. From listening to him and his press secretary you'd think the economy has never been better. All that's happened and continues to happen is the middle class is taking it in the shorts while the corporations are reaping in huge profits at the expense of working people.

[etherealtruth]

30. You got it n/t

[papau]

38. A $2 Trillion increase in our National Debt Stimulus should have more new

jobs.

I don't care if the stimulus was spending increases or tax cuts for the rich - we got little for our $2 trillion stimulus - and that is because of Bush's lousy economic concepts.

Heck we were on a glide path to retire $2 trillion in National Debt - and the idiot that the media loves moved us to a world of CORPORATE and OVERSEAS prosperity.

Damn good thing our business media is able and willing to analyze and report honestly, else we would have wasted $2 trillion.

[thecrow]

41. He is Wrong He is Wrong

the economy?

BTW, I got this over at http://www.earth-policy.org/Indicators/Econ/2005.htm

Copyright © 2005 Earth Policy Institute


World Economic Growth Fastest in Nearly Three Decades

Viviana Jiménez

The year 2004 was a milestone for the world economy, which grew by 5.1 percent—the fastest in nearly three decades. Among the leaders were China, expanding at 9.5 percent, Argentina at 9 percent, and India at 7.3 percent. World output of goods and services increased from $7 trillion in 1950 to $56 trillion in 2004, while annual income per person grew from $2,835 to $8,753 during this time. (See data.)

BU$H IS WRONG!!! <gasp> CHINA, ARGENTINA, AND INDIA have the fastest growing economies!!
WTF planet is Smirky talking about?

[etherealtruth]

43. Thanks for the link ... useful info n/t

[acmejack]

2. Acmejack says * full of it!

I am betting that the numbers will be revised downward, as it seems they always are, at a later date with a minimum of fanfare. It may be a great economy for someone, but it sucks for the majority of us.

I was an engineer once, my last job was spreading mulch. I may have wasted a lot of money and time going to school, I already knew how to operate a rake.

[stepnw1f]

3. The Traitor is Turning His Own Country into a Shit Hole (nt)

[napi21]

4. Now if he'd just tell me WHERE this GREAT economy is???

I keep looking...everywhere, and I just can't seem to find it!!!

[Liberal Veteran]

5. Check India or China....their economies are just perky.

Perhaps that's what he means?

[leesa]

22. It's in the board rooms and the CEO's office.

[napi21]

34. Yea, but I'm not allowed in there! n/t

[thecrow]

42. It is in China, Argentina, and India.

Perhaps he switched citizenship and didn't let anyone else know....or else his "advisors" told him that and he believes it.

[sakabatou]

6. Okay Bush, how many NET jobs was that?

And why do you applaud your tax cuts when you know they have drained the economy? Oh I know, because your an idiot! GAH!

[oscar111]

16. Net jobs? 14 million= Job Shortage. see sig

for details

[China_cat]

7. That man's so full of shit

his eyes are brown.

edited to add:

[Raiden]

8. Raiden says Bush is full of shit!!

Oh and thanks for CAFTA you bitch!

[tabasco]

9. And when the faux war economy totally collapses ...

he'll blame Clinton !

[oscar111]

10. Reaganomics dismantled fast, in few words. 4th para below

 $1O9 Trillion is US wealth
Edited on Sat Aug-06-05 09:00 AM by oscar111

see demopedia page, "Capital" for source link.. unimpeachable gov source. LOL.

trillions.. how is that for chasing wealth?
=====================

wealth up every year.. so how is bush jusifing cuts to the programs like food stamps ? Hmmmmmm??

WEALTH UP OVERALL {FOR SOME} BUT WAGES DOWN {FOR US MIDDLE CLASS-ERS}
The odd result of reaganomics. Never a rise in wages. Other paths needed for prosperity.. such as FDR's "invest in the midde class" Keynesian economics.

%%%%%%%%%%%%%%%%%%
====================
KEY MEME ---
wages lower now than when reaganomics began.... adjusted for inflation. Reaganomics is a flop. Toss it.
====================
%%%%%%%%%%%%%%%%%%%

25 years of flopping is enough. "what's that giant flopping sound?"

"Wages lower" ... reaganomics is zero benefit to the middle class. Worse than zero, really.

Reaganomics is a flop. Face down in the dirt flop. Toss it.

Nothing will get better for the midde and lower class, till Joe Voter stops believeing in reaganomics.

Memorize this and focus on reaganomics.

[oscar111]

14. WAGES LOWER THAN WHEN REAGANOMICS BEGAN

.. adjusted for inflation.

that's the key meme to memorize for chatting with frepers.

see my earlier post a few re's above for more depth.

[JRob]

11. I love hearing these claims repeated by jobless people who can hardly

rub 2 nickels together...

And to my amazement it happens all the time.

This will continue as long as the corps dominate the media and the government.

[splat@14]

12. Whose economy?

[area51]

13. GW Hoover says we have a "growing economy"

Only if it's growing in negative numbers. :mad:

[Triana]

17. first of all, by WHOSE standards and measures..

...is the Enronomy 'growing'? I mean this Crime Ring has fuddled and fudged and changed the formulas for calculating economic and job growth so many times from what historically has been used in prior years to make the Enronomy look good for George (whether it IS or not)...and I suspect it's NOT, that it's got to be total bu$hit. All propaganda and 'fuzzy math' and fudged numbers, 'pretend' jobs that don't exist, etc. Lipstick on a pig effect. It's still a pig.

secondly, his tax cuts for the richest and uncontrolled corprat welfare have resulted in HUGE federal deficit - the hugest one in our history - not to mention George's porky giveaways to war profiteers Halliburton, Bechtel et al. and endless, bottomless spending on "war, war, war and if there is no war we'll start one".

I won't even start on his "rape social security and give all the money/profits to wallstreet corprats" scheme and what that'll cost.

Oh. How about that Medicare RX drug plan? $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

and for a shit plan that I can't even decipher much less my 78-year old mother. A veritable giveaway to the pharmaceutical corprats.

ROBBERBARON bu$h and his corprats ride again...

[Geek_Girl]

18. I'm not really sure what he means by growing economy

Stocks are still pretty much going sideways. The only sectors of the economy that are experiencing a boom are housing, defense and energy. I think the housing bubble will burst and in a year or so stocks will start declining.

[Festivito]

19. Could not be the borrowing you commie pinko name-callers.

No no no.

If you pay 20,000 for services to someone, plus 5,000 added to the house debt each year (around 75,000 owing and going higher), which you don't really notice, then your 110,000 a year income seems to do you well, really well. Like having an extra, hmmm, say 5,000 a year income.

And that guy you hire, he tells you you're really doing well. Good thing you got rid of that last guy, Billie-Bob. He was pay'n down your house debt, such that when your folks needed a little retirement boost you'd still be paying the same amount as though the mortgage continued.

Not that you could call that a "SOCIAL SECURITY PLAN FOR YOUR RETIREMENT" or such! Everyone KNOWS that Billie-Bob had no plan, therefore that could not be called a plan.

Got it! You lilly livered commie pinko name-callers!

Welcome to RepubliCON 'merica.

[marbuc]

20. I don't know that this needs to be said

yet must be repeated over and over to get through to the sheeple: Bush is TOTALLY DIVORCED FROM REALITY! How can he say this things about the war in Iraq and the Economy? Is he rally that clueless, or feeding the propaganda machine? My feeling is both, he really feels good about his "accomplishments."

[Mountainman]

21. Over half of the people believe Bush is not honest, believe the economy is

not good and believe the war is not worth the deaths.

Bush you mutha friggin lying bastard!

[ignatius 2]

24. Artificially low interest rate and lots of red ink are responsible for the

growth in the economy. 40% of job growth in the last 2 years have to do with the housing boom(bubble) brought about by low..low interest rates.

Between peple using their home equity like an ATM machine(with 0 savings as a national av erage I might add) and the idiot-in-chief busting the budget and putting us into deficit, this country is balancing on a thin wire.

[Theres-a]

25. Ding!Ding!Ding!

We have a winner.

[cliss]

26. Just wait till Bush comes to the end of his Term

(a nice sounding word).

Let's preview ahead, to the fall of 2007. Bush can't be re-selected, but he'll be pushing Cheney, or Frist, or maybe even RumsFailed.

What does the economy look like? After 8 years of Bushonomics, we have an economy that's practically dead. There are long lines at the Homeless shelter, and the soup kitchen is serving stricly Potato Soup because that's all they're offering tonight.

India is outsoucing its most undesirable jobs to the U.S. We are now knitting sweaters that will be sold to China.

We have Prison Chain Gangs like back in the 30's, because so many people defaulted on their debts. You can't file bankruptcy, so they opened debtor's prisons again, like in the 1800's.

Let's see him try to spin his shit then.

[Cleita]

36. All those jobs are paying an average of $7 an hour

in my neck of the woods. How does that make the economy boom?

[Wapsie B]

27. What gets me

is the fact that they paint themselves as fiscally responsible and yet defecit spending is the order of the day. It's like a person maxing out every credit card they have and making things worse.

And their dream of privatizing so many agencies in government is the biggest scam of all. They talk about concern for the taxpayer, not wanting their hard earned money going to some overfunded agency that does nothing but give handouts to welfare cheats.

What no one tells you is that when a government agency is privatized, that expenditure DOES NOT FALL OFF THE BOOKS. The money that funded that agency is merely funneled to a political crony. So instead of having government employees with benefits and fair pay we have private contractors who may or may not pay their employees fairly and provide benefits. It's just another erosion of the middle class. And people still buy the hook about taxes. Which is why you'll find what I did yesterday, a beat-up old Ford Taurus that looked like it was owned by a homeless person with w stickers on it.

[applegrove]

28. Yes - so that this war is not being paid for and the government is

mired in debt. If I borrowed Trillions and went shopping..my economy would be doing great too. Until the bills have to be paid. If I left it to my children to pay the bills..and not just any children...only the children who did not grow up to be rich...why my economy would be doing even better.

This is a house of cards.

All anyone has to say to the USA is "I think we will start trading our commodities in Euros" and the WH will do exactly what they want.

[TahitiNut]

29. Yep. The meringue in the GDP is part deficits and part dollar devaluation.

The devaluation of the dollar will ultimately result in inflation, where the delay is prolonged by decreased wages for the "lower 80%" and the unemployment of the same people. At the same time, the equities markets are inflated and the housing market bubble will eventually collapse, wiping out a large part of what folks have relied upon as a "nest egg."

The GOP chases the GDP and feeds it with the bodies of the working class.

[applegrove]

35. Right. The elites & rich are not playing their part in keeping inflation

down. That falls on the backs of the less than fully employed people. And it is a subsidy, along with 2.6 Billion subsidy to the Oil industry in the Energy Bill, to big Oil. And it skews the markets so that a higher level inflationary Oil prices can be sustained. So the markets for alternative fuels are not opening up and booming like they should be.

[VegasWolf]

31. Yes, Bush's Halliburton portfolio has gone through the roof the last 5

years. Life is sweet for Bush, Cheney, and other wealthy
friends.

[Turbineguy]

32. Turbineguy says:

"We have surpassed our goal of zero improvement by a wide margin!"

("I didn't get a harrumph outta that guy")

[Kitsune]

33. What planet is this man living on?

Growing economy? Right. Uh huh. Sure.

[SammyWinstonJack]

37. Is ** high? Fuzzy math or outright lie?

How many lies will he get away with before we throw the little worm out on his a**?

[Dr Fate]

39. How come my grocerey, healthcare & rent bill has not gone down?

Or gas? Or Tuition?

In fact, they've all gone up.

Liar.

[bdot]

40. Taking away jobs and replacing them with low wage jobs is NOT job growth!

but the Republicans will swallow anything.

[ShockediSay]

Bush's Radio Address Optimistic on Economy - wp

http://www.washingtonpost.com/wp-dyn/content/article/2005/08/06/AR2005080600516.html

CRAWFORD, Texas -- President Bush is taking a quick break from vacationing at his Texas ranch to stir up enthusiasm about the economy _ an issue where his poll numbers are low despite encouraging signs about jobs and the pace of economic growth.

"Our economy is strong, yet I will not be satisfied until every American who wants to work can find a job," Bush said Saturday in his weekly radio address, taped at the ranch where he'll meet with his economic team on Tuesday.

The president's approval rating for handling the economy is at 41 percent _ his lowest rating yet on that measure in an Associated Press-Ipsos poll. The rating, reported in a survey conducted Aug. 1-3, comes at a time of positive reports about the economy. Nervousness about ongoing violence in Iraq could be causing pessimism to seep into other areas like the economy....

[ShockediSay]

44. Starting a War -

always helps the economy.

[wli]

45. REX 84: Bushler's solution for the housing bubble & unemployment

[punpirate]

46. Sure he's optimistic about the economy...

... all his pals are getting rich. The rest of us aren't doing so hot.

Stagnating wages, and a real unemployment/underemployment rate closer to 11-12%, increasing foreclosures and bankruptcies, high consumer debt in the face of positive growth numbers--all signs that the maldistribution of wealth is getting worse--that's why only 41% approve of what he's doing.

[Cobalt Violet]

47. Yeah, and the woods are responsible for bears shitting in them.