Someone besides Krugman notices Bush bets on weaker $, and nothing else

[papau]

http://www.boston.com/news/globe/editorial_opinion/oped/articles/2003/11/04/economy_leaves_workers_behind/

My goodness - someone besides Krugman (and the folks at DU) has taken the Rosy Senario that prevents any Dem from challenging Bush on the economy - and analysed it!

That huge 7.2% GNP jump hid a few things, didn't it?

Like inflation adjusted real disposable income dropping by 1.2 percent in September after having risen by 1.4 and 0.7 percent in July and August.

Like consumer spending, no longer with a tax cut push, being down 0.6 percent in September, after the tax cut push allowed it to rise by 0.8 percent in both July and August (as in the "robust durable goods increase" that the WSJ was so happy about actually decreasing by 4.6 percent in Sept after the tax cut good months increase of 3.8 and 4 percent in July and August).

And that predictor of future growth - the rate of savings - in September was down below 3 percent for the first time since the beginning of 2000.

And he dares to consider that the cut in Federal aid to the States that is causing increased State taxes - causing a decrease in disposable income per capita - meaning the increase in disposable income from the Federal tax cuts is offset to the point that inflation adjusted real disposable income per capita is almost flat -- not just this year but ever since Bush became president - moving from 1st qtr 01 of $23,470 to September 03's $24,874 - or 5.1 percent over nearly three years.

No wonder the GOP wants to pretend that the 7.2% GDP annualized 3rd qtr 03 gain means we talk only of the "future" - but as projected by Rosy - not as projected by the facts.

Bush has bet the farm on the spike in production caused by the weaker dollar leading to new jobs, and higher wages and salaries, before it leads to higher inflation.

[West Coast Democrat]

1. BushCo Won't Try To Actually Improve the Economy

If they can fool enough people into believing it is improving when it isn't.

[Bollinger]

2. He's betting on deficit spending too

He thinks it'll create countercyclical demand. What it'll cause is disaster.

[dennis4868]

3. Myquestion is this then....

Why are there not other Dems on the Cable TV stations saying this. It seems to me that most Dems on these political TV shows are not well informed and pretty mush are in lock and step with Bush and his rosy scenerio economy. Last quarter;s growth is fine but there are alot of other indicators that are in the toilet still....you just do not hear about it anywhere anymore!