Economists question White House economic summit's assessment

[NNN0LHI]

http://seattletimes.nwsource.com/html/nationworld/2002121118_bushecon16.html

WASHINGTON — Economists assembled by the White House for a high-profile summit yesterday maintained forcefully that the U.S. economy is robust and growing. But many experts outside the Bush administration's circle of advisers and allies insist the president is overlooking warning signs that could affect the economy's long-term health.

President Bush called the two-day White House Conference on the Economy to promote his second-term agenda: Simplifying the tax code, limiting the cost of lawsuits and meeting long-term costs of Social Security.

But some outside economists worry that the summit is glossing over more ominous challenges, including a record federal-budget deficit, a record trade imbalance with other nations and the declining value of the dollar abroad.

"The economy now is in very good shape," said Martin Feldstein, a Harvard professor of economics and former adviser to President Reagan. Feldstein opened the White House conference yesterday with a drumbeat of positive news: more than 2 million jobs created since last year, business investment growing and personal income rising.

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[OrangeCountyDemocrat]

1. The Sky Is Blue

Grass Is Green. The Sun Will Come Out Tomorrow. Everything Will Be Great. Nothing To See Here. Please Move Along.

[xchrom]

2. no dissent

this admin is strictly incestuous.
they won't allow for cross pollination -- that almost insures that they are wrong.

[area51]

3. economy

If the economy really was doing well, it would've created enough well-paying jobs for full employment.

[rooboy]

4. If the dream is big enough, the facts don't count. n/t

[Buns_of_Fire]

5. bu**sh**'s economic "summit" = his cabinet choices

The meeting yesterday and today is Bush's second major economic summit, reminiscent of events that President Clinton held. This one has been fashioned as a unanimous chorus of support for the president's programs.

In other words, non-cheerleaders need not apply.

[Lost4words]

6. 86 43 n/t