Lost 1,627,000 jobs in recession, lost 938,000 more during Bush recovery

[papau]

ABC News' Schindelheim tells us this morning that "he group that dates recessions finally gave an end date. The NBER says it was 8 months long, lasting from March 2001 through October 2001. This was slightly less than average for recessions since WW2." "According to Bureau of Labor Statistics, the economy lost 1,627,000 jobs during that 8 month recession; since the official end of the recession, the economy has lost another 938,000," Schindelheim says. "That's a total of 2,565,000 since the official state date of the recession."

Kind of makes you head spin!


New Budget Director Calls Deficit Manageable
By DAVID E. ROSENBAUM....(budget director)Joshua B. Bolten asserted today that the $455 billion budget deficit he projected on Tuesday was completely manageable and that President Bush's tax cuts were not the problem but "part of the solution." "The key to improving the budget outlook is healthy and sustained recovery with strong job creation," he told the House Budget Committee. "Had Congress not enacted the president's three tax relief packages," Mr. Bolten added, "the economy would be substantially weaker than it is, and there would have been substantially greater job losses."

With statements like that, Mr. Bolten seemed to be saying that reducing taxes actually led to increased revenues for the government, a view prevalent in some conservative circles 20 years ago but basically discredited by economists since then.

But when Representative Richard E. Neal, Democrat of Massachusetts, asked whether Mr. Bolten was saying that the tax cuts "will pay for themselves," the budget director said he was not. <snip>

http://www.nytimes.com/2003/07/17/politics/17BUDG.html

And Now my head is spinning even faster!!!!!!

[SpiralHawk]

1. Feel the surge

of the Mighty Bush Recovery Plan. Not.

Cut more taxes for the wealthy, because as everyone knows a rising tide lifts all yachts.

Meanwhile, everywhere except back at the ranch, America feels PAIN. Give us our jobs back. Give us our democracy back.

Let the truth be revealed. May justice prevail.