Today President Bush said that the U.S. economy is still strong and growing. What the heck? Is he living in the same country I’M living in?
[This morning President Bush] attempted to calm jittery economic markets and anxious Americans at a morning press conference, insisting that the U.S. economy is still growing despite its problems, even as new reports showed inflation rising at the fastest pace in more than a quarter-century, and the prospect of more bank failures loomed.
If consumer confidence is any indicator of the strength of the economy, it’s far from strong. Many other indicators say the same thing. Yet Mr. Bush chose to point out that:
“our economy’s continued growing, consumers are spending, businesses are investing, exports continue increasing, and American productivity remains strong.”
Food and gasoline costs are the highest they’ve ever been, there have been runs on several banks (some actually folded), the housing market is still going down, foreclosures are STILL going up, job losses are still going up, the stock market is still going down, and the U.S. dollar is weak all over the world (including at home). That sure doesn’t sound to me like a strong economy.
Somebody is seriously deluded.
He’d be better off explaining what’s truly going on and suggesting ideas to make it through the tough times he acknowledges we’re in. Instead, all I hear is “We’re doing fine. We’re doing fine!” That’s no help. It’s delusion.




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