What was Bush saying about our great economy?

[AndyA]

http://money.cnn.com/2006/08/24/news/economy/newhomes/index.htm?cnn=yes

NEW YORK (CNNMoney.com) -- More alarm bells for the stumbling housing market rang Thursday, as a government report on new home sales showed a bigger-than-expected drop in sales, along with a continued rise in unsold homes and a further weakening of prices in the closely watched sector.

New homes sold at an annual pace of 1.07 million in July, according to the Census Bureau report, down from the 1.12 million pace in June, which was also revised slightly lower than the original reading.

The pace of new home sales is now down 21.6 percent from year-earlier levels, with every region of the country showing double-digit percentage declines compared to July 2005.

The drop was worse than the forecast of economists surveyed by Briefing.com, who had estimated new home sales would slip to a 1.11 million pace in the most recent report.

Things don't seem to be as robust as Bush & Gestapo would have us believe. I wonder how many other economic indicators are going to give us cause for concern between now and the November elections?

It will be difficult for the GOP to spin a recession, especially if all the indicators show we're headed for one. And it looks like that may very well be an option.

[whistle]

1. Economy based on war and corruption is destined for failure....

...and that will be sooner rather than later.

[JRob]

2. If his lips are movin', he's lying...