What I find amusing is how Smash has to literally tap dance to get this bit in since the "dramatic slowdown", is relative to the "record growth" of the previous years. Kinda hard to crow about this downturn without also admitting that Bush managed to push us out of a recession in 2001 with equally dramatic increases in 2002 and 2003.
It's all relative folks. You have good growth in the 90s, followed by a "sharp downturn" in 2000 and 2001. That's then followed by a "sharp upturn". When you've got a growth of 5+% a year, just leveling off is a "sharp downturn".
I just find it amazingly funny that no one talks about the huge growth the Bush created with his tax plan that makes this "downturn" seem so large. A 3% growth in GDP (especially since we're only looking at a single quarter in this case) is hardly a disaster guys. It's a bit below ideal growth, but not by much. It's only relatively dramatic because the growth of the previous two years was so large.
As, previously pointed out by me as soon as you see the word "folks" in a Gbjai post it's indicative of completel lack of any understanding of the subject on his part. He figures he can just bluff his way through it.
Growth is growth, but we haven't seen growth at all here. If you want to talk about tap dancing, implying that there's been any "Growth" is the very place to begin.
Income is down for two years in a row for the first time in decades.
That's right, income is down. People are making less money. PARTICULARLY the people you'd want to see make more money if you're infavor of the tax cuts, those in the highest marginal tax brackets.
Bush is going to be the first president since Hoover. That's right, HOOVER, to loose jobs during his Presidency.
Energy costs are higher adjusted for inflation than they were in 1978.
Let me make the very simple metaphor again so that you people who think "growth is growth, we should be more posative" can understand this.
Give me $1000. Let me give you back $100. Now tell me that you've gained $100 and say "Growth is growth."
Because that's what's happening here.
Ahh, I can't wait for November. The exploding economy in '05 and '06 is going to be stunning.
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