Bush Finds Economy Is Turning From Potential Asset to Liability

[sabra]

http://www.bloomberg.com/apps/news?pid=20601087&sid=azLPj_TiTCv8&refer=home

Bush Finds Economy Is Turning From Potential Asset to Liability

Aug. 3 (Bloomberg) -- The Bush administration has counted on growing public appreciation of a strong economy to bolster Republican prospects in fall congressional races. That hasn't materialized, and the economy may have peaked months before the election.

The public is divided over whether the economy is doing well, according to a new Bloomberg/Los Angeles Times poll, with a strong majority giving President George W. Bush and the Republicans negative marks on the issue.

``It wasn't long ago that the president was crowing about the economy's strength,'' said Stuart Rothenberg, publisher of the Washington-based Rothenberg Political Report. ``Now it's hard to see the economy helping the president turn around his unimpressive poll numbers. The public is unhappy, and they're likely to take that out on Republicans running for the House and Senate.''

Almost 3 out of 5 Americans disapprove of the way Bush is handling the economy, the poll shows. Economic growth is forecast to slow to an annual pace of less than 3 percent in the second half of this year, from an average of about 4 percent in the first half, according to a Bloomberg survey of economists.

[WannaJumpMyScooter]

1. 3 percent my ass

we will be lucky to see 1.5.

if they would tell the truth.

can't sustain high fuel costs forever out of hide.

[badgerpup]

2. Gas jumped 20 cents a gallon in the last two weeks in my town.

That's going to REALLY encourage me to go out and buy stuff...NOT!
:banghead:

But I guess he is measuring "the economy" by how the upper 1% are doing...and ya gotta admit, they're doing just peachy!

[bikebloke]

16. It's a yacht and polo pony driven economy.

Everyone knows that.

[Lindacooks]

3. If that was a peak it was no more than a hiccup.

Peaked for the top 1%, maybe. For the rest of us, not so much.

[ShockediSay]

4. Strong majority of Americans giving Repugs bad marks are the

strong majority of Americans who are doing a lot worse than the privileged connected few.

[w4rma]

5. It's all been straight off of a cliff since Miserable Failure took over.nt

[tanyev]

6. Darn that reality. You know, it has a liberal bias.

[raccoon]

7. Soaring gas prices, and those having the "ripple effect" on food,

services, and everything else?

"a strong economy"--my arse.

[RUMMYisFROSTED]

8. Much of the "growth" is from borrowed funds.

It's a mirage.

[paparush]

9. Strong Economy? In what sectors other than Defense?

[MrCoffee]

15. Big Oil

ExxonMobil/RDS = $18 Billion in the second quarter.

[paparush]

18. True..don't know how I overlooked the record profits

[MrCoffee]

20. $18 Billion is easy to miss

[Vidar]

10. Bush seeing beyond Wall Street & oil prices? Unlikely.

[gratuitous]

11. 60% disapproval on the economy

And Bloomberg News has the nerve to say "the public is divided." No, that looks damn near like a consensus in light of saying two years ago that Bush achieved a mandate with 51% of the popular vote.

[FourStarDemocrat]

12. How about the doubling, and tripling of interest rates as well

Bushco seems to think that the average American hasn't noticed or been affected by the constant & insane hikes in interest rates over the last two years. Most people's home equity and credit card finance charge payments have essentially doubled. People are struggling to make those payments. What kind of economic strength is that?

[Acadia Blue]

13. The economy is strong for investors and millionairs

[OregonDem]

14. But Halliburton and Exxon are doing well!

To Bush that means everyone else must be doing well also and that the economy is in great shape.

[Vinca]

17. If these people would leave the bubble once in awhile it wouldn't

be a huge surprise that average people are struggling. Send them grocery shopping, have them fill up their cars, tell them to get health care without insurance. I never imagined a regime would come into power in this country that would so completely and entirely forget the working people in America. Actually, it's not forgetfulness - it's a methodical transfer of wealth from everyone to a select few.

[htuttle]

19. "counted on growing public appreciation of a strong economy"

They don't even say, 'counted on a strong economy' -- they say they were aiming at a 'public appreciation of a strong economy', ie., fooling people into believing the economy is better than it is with propaganda, PR and spin. It's all about how people 'feel' about the economy, not how the economy is actually affecting people.

If they economy actually is strong, you hardly have to worry about people 'appreciating' it. It's only when it's NOT really strong that 'public appreciation' (ie., is our spin working?) comes into play.

Once again, the Republicans make the mistake of thinking that they can create a parallel reality with nothing but flashy graphics and smooth talking... Sure, it has worked to a point on some issues (like Iraq at first), but spin don't pay people's rents or buy groceries, and that is hard for most people to ignore, no matter how much PR BS you throw at them.

[HughBeaumont]

21. Nothing gets past the Simian in Cheat. Oh wait . . .

When, exactly, has the economy "peaked" for the middle class since Bushtarded was selected? Even to those of us who ARE employed, we're keeping less than ever thanks to stagnant wages and cannot save a damned DIME.