FROM THE DAILY MISLEAD...
THE DAILY MIS-LEAD www.misleader.org
AUG 02, 2004
BUSH MISLEADS ON THE STATE OF THE ECONOMY
In his radio address Saturday President Bush declared, "this week wereceived 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 grewat a slow-paced 3 percent annual rate in the second quarter, renewingconcerns about a weak overall recovery and the potential for mediocre futurejob growth." The figure was "the slowest growth rate since the beginning oflast year," down 1.5 percent from the previous quarter. Growth in consumerspending also plummeted, falling to just 1 percent - down three points fromthe previous quarter.[2]On Friday the White House estimated that "the budget deficit would reach$445 billion in this fiscal year, by far the largest shortfall ever."[3] Theadministration claims that this figure is an improvement, but in February2003 the White House estimated that the deficit for 2004 would be just over$300 billion.[4]Visit Misleader.org for more about Bush Administration distortion >>Sources:1. President's Radio Address, WhiteHouse.gov, 7/31/04.http://daily.misleader.org/ctt.asp?u=2198579&l=485942. "Economic Growth Slows",Newsday, 8/02/04.http://daily.misleader.org/ctt.asp?u=2198579&l=485953. "Record Deficit of $445 Billion Projected for This Fiscal Year",New YorkTimes, 7/30/04.http://daily.misleader.org/ctt.asp?u=2198579&l=485964. "Deficits and the Mid-Session Review",Center on Budget and PolicyPriorities, 8/01/04http://daily.misleader.org/ctt.asp?u=2198579&l=48597
AUG 02, 2004
BUSH MISLEADS ON THE STATE OF THE ECONOMY
In his radio address Saturday President Bush declared, "this week wereceived 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 grewat a slow-paced 3 percent annual rate in the second quarter, renewingconcerns about a weak overall recovery and the potential for mediocre futurejob growth." The figure was "the slowest growth rate since the beginning oflast year," down 1.5 percent from the previous quarter. Growth in consumerspending also plummeted, falling to just 1 percent - down three points fromthe previous quarter.[2]On Friday the White House estimated that "the budget deficit would reach$445 billion in this fiscal year, by far the largest shortfall ever."[3] Theadministration claims that this figure is an improvement, but in February2003 the White House estimated that the deficit for 2004 would be just over$300 billion.[4]Visit Misleader.org for more about Bush Administration distortion >>
posted by BLONDIE at 1:26 PM
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