Dems are crying wolf to hurt Bush

Published 9:00 pm Tuesday, November 25, 2003

The Democratic presidential candidates are all crying wolf! Each in their turn has cried out that this is the worst economy ever and it is all President Bush’s fault. Let’s take a look at the current economic numbers.

1. The economy is growing at a rapid pace. The nation’s gross domestic product increased at an annual rate of 7.2 percent in the third quarter of 2003.

2. The economy is adding new jobs. The economy added 286,000 new non-farm jobs in the past three months and the nation’s unemployment rate is the lowest since April.

3. The stock market is up 30 percent since March.

4. Inflation is low, productivity is high and after-tax incomes are rising.

5. Home ownership is at record highs. Home ownership reached an all-time record of 68 percent (of American households) in the third quarter.

6. Both auto and non-auto consumer spending is strong. Total consumer spending grew at a 6.6 percent rate in the third quarter, the largest gain since 1997.

7. Small business optimism recently reached a record high level, according to the National Federation of Independent Business, and confidence among large-company CEOs reached its highest level in 11 years, according to the Conference Board.

After inheriting the Clinton recession, President Bush has taken the lead to rebuild the economy. His stimulus packages and tax cuts have turned the economy around and all signs show that it will continue to improve in the future. If the Democrats are calling this a bad economy, they are all crying wolf.

Monroe