Bush is Evil, LOL! Part 1 (isnt really funny)

SmaxCom2 · Aug 5, 2004

tirk said:

hell I voted for Perot. what's that say about me?
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That you are easly impressed by charts and graphs.

Bush in red: Clinton in dark blue

marcmc99 · Aug 5, 2004

SmaxCom2 said:

That you are easly impressed by charts and graphs.

Bush in red: Clinton in dark blue
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:lol: :lol: :lol: :lol: you should have your own show on HBO or something. A political genius you are!

MFn G I M P · Aug 5, 2004

Most economists credit Bush's tax cuts in rebound

Most economists say the tax cuts helped stimulate consumer spending and the economy in the short run. The economy grew at a rapid 8.2% annual rate in the third quarter of last year, when 25 million taxpayers received rebate checks of up to $400 per child. "The basic conclusion is that it's been a very important factor," Ed McKelvey, an economist at investment firm Goldman Sachs, says of the tax cuts.
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http://www.industryweek.com/DailyPage/newsitem.asp?id=5927

First-quarter 2004 U.S. GDP growth, although well above its 3.5% long-term average, came in a lot lower than expected. Inflation-adjusted GDP, the output of goods and services produced by labor and property in the U.S., increased at an annual rate of 4.2% in the January-March quarter of this year, the U.S. Commerce Department reported on April 29. That's only slightly higher than the 4.1% annual rate recorded during 2003's final calendar quarter and well below the 5% rate that many economists expected for the first quarter. The GDP price deflator, a key measure of inflation, increased to an annual rate of 2.5% in the first quarter, up sharply from the previous quarter's 1.5% and generally above economists' expectations.
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http://www.kansascity.com/mld/kansascity/2004/07/02/business/9065547.htm?1c

The economy created just 112,000 jobs in June, slowing from the torrid pace of the previous three months and raising new misgivings about the strength and endurance of the rebounding jobs market. The unemployment rate remained at 5.6 percent for a third consecutive month, the Labor Department reported Friday. President Bush, defending his economic policies as he seeks a second term, told a White House audience that steady growth is the key: "We don't need a boom-or-bust type growth." June was the 10th straight month of payroll gains, a string that has restored about 1.5 million jobs to U.S. payrolls and shrinking overall losses on Bush's watch to nearly 1.1 million.
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I am very dissapointed in President Bush by spending so much money and is one of the things that I hope he remedies in his 2nd term. However, the economy has been growing under him and will continue to grow.

MFn G I M P · Aug 5, 2004

SmaxCom2 said:

That you are easly impressed by charts and graphs.

Bush in red: Clinton in dark blue
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Actually the federal deficit is to hit $445 billion this year, not $521B. It is still a very high number, I just wanted to point out that your number was incorrect.

Federal Deficit to hit $445B

WASHINGTON - This year's federal deficit will soar to a record $445 billion, the White House projected Friday in a report provoking immediate election-season tussling over how well President Bush has handled the economy.
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SmaxCom2 · Aug 5, 2004

MFn G I M P said:

Actually the federal deficit is to hit $445 billion this year, not $521B. It is still a very high number, I just wanted to point out that your number was incorrect.

Federal Deficit to hit $445B
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From factcheck.org

[font=Arial, Helvetica]The federal deficit for fiscal year 2004 (which ends Sept. 30) is projected by the President’s [/font] [font=Arial, Helvetica]Office of Management and Budget[/font] [font=Arial, Helvetica]to be $521 billion. The [/font] [font=Arial, Helvetica]Congressional Budget Office[/font] [font=Arial, Helvetica]is predicting a somewhat lower total of $477 billion. But either would easily exceed the previous record deficit of $375 billion set last year. That in turn broke the previous record of $290 billion, which was reached under Bush’s father in 1992.[/font]

MFn G I M P · Aug 5, 2004

I retract my previous statement on the deficit.

dallastigers · Aug 6, 2004

This is from the whitehouse's the mid-session review, which is different from original estimate.

http://www.gpoaccess.gov/usbudget/fy04/pdf/04msr.pdf

The AP report is just the most recent estimate based upon actual revenue and spending versus budgeted amounts or earlier estimated amounts. The amount could change one way or the other by the time the year is up.

From your link
http://www.tallahassee.com/mld/sunherald/business/9287568.htm

WASHINGTON - This year's federal deficit will soar to a record $445 billion, the White House projected Friday in a report provoking immediate election-season tussling over how well President Bush has handled the economy.

The administration's annual summertime budget update forecast shortfalls falling to $331 billion next year, then fading to $229 billion by 2009. For each year, the red ink was smaller than the White House envisioned six months ago.

Administration officials hailed the figures as a solid improvement over the deficits analysts forecast early this year, and said they were on their way to their goal of halving this year's shortfall in five years. The White House estimated a $521 billion budget gap for 2004 in February, while the nonpartisan Congressional Budget Office predicted a $477 billion deficit.

"This improved budget outlook is the direct result of the strong economic growth the president's tax relief has fueled," said White House budget director Joshua Bolten.

He conceded that the red ink remained at "unwelcome" levels but said the report was still "good news" because of the reduction from earlier estimates.

....................

The White House attributed this year's improvement to the collection of $82 billion more in revenue than anticipated, reflecting stronger economic activity. That was partly offset by $6 billion more in spending than expected, largely for Medicaid and Medicare.
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Bush is Evil, LOL! Part 1 (isnt really funny)

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