Treasury Sec.: "Bush's economic failure is myth"

[Rob E Dangerously 0]

http://www.thecourier.com/issues/2004/Oct/101204.htm#story4

 

Treasury secretary praises president's economic record

 

By JOHN GRABER

 

STAFF WRITER

 

The American economy is strong, vibrant and the envy of leaders around the world. And it's all due to the strong leadership of President George W. Bush.

 

That was the message U.S. Treasury Secretary John W. Snow imparted to about 850 people Monday night at the annual Hancock County Republican Barbecue, held at the University of Findlay.

 

Tax cuts and increased expense limits for small businesses have given Americans the most disposable income ever, Snow said. They have also created an unemployment rate lower than the average in the 1970s, 1980s and 1990s, he said.

 

"The president knows we create a strong economy when we unleash the native, creative energies of people," Snow said.

 

A national household poll shows 3.2 million jobs have been created during Bush's term in the White House, Snow asserted.

 

Claims like the one that Bush will be the first president to end a term with fewer jobs than when he started are nothing more than "myths," Snow claimed.

 

Another particularly nasty myth, he said, is the idea that the Bush administration "squandered" a $5.4 trillion budget surplus.

 

The truth is, it never existed, Snow said.

 

That number was only a projection that quickly dried up after the economy absorbed a series of "body blows" that included the stock market meltdown of the late 1990s, a recession, the Sept. 11 terrorist attacks, and corporate scandals like the Enron failure.

 

"That's what happened to the so-called surplus, it was a mirage," Snow said. "It never existed."

 

It was the president's ability to rally the country that kept the economy afloat after the 9/11 attacks, and his actions to take the war to the terrorists that keep it growing, he said.

 

Snow was the guest of U.S. Rep. Mike Oxley, R-Findlay, at the dinner, which is intended to encourage participation in the local party.

 

This is one reason why you'll hear John Snow's name tonight. You better get used to it. (I wonder if the surplus being imaginary makes the record deficit okay)

 

The Kerry response (which will probably be repeated tonight):

 

SANTE FE, N.M., Oct. 13 /U.S. Newswire/ - Sen. John Kerry released the following statement today in response to comments by Secretary John Snow Monday in Ohio, where Snow praised the president's economic record and called Bush's failures a 'myth:'

 

"These comments reflect the callous disregard this administration has shown for the millions of people who are out of work and seen their quality of life suffer over the last four years. It reflects the degree to which the White House tries to spin its way out of the problems facing working America when it should be focusing on solutions. President Bush will have to answer directly tonight for this outrageous slap in the face to America's middle class. He'll also have to answer for the worst jobs record since Herbert Hoover."

 

and the "Davey" Edwards response, which doesn't promise healings (meaning it won't get as much play)

 

MEDFORD, Ore., Oct. 13 /U.S. Newswire/ - Sen. John Edwards made the following statement today while campaigning in Oregon. Edwards' statement came in response to comments by Treasury Secretary John Snow Monday in Ohio, where Snow called the failed Bush record a "myth:"

 

"And now we find out that the Bush administration and their Treasury Secretary say that the surplus that they inherited when they came into office was a myth. Right? And you'll love this one. That the jobs that have been lost during this administration is a myth. Well I wonder if the five million Americans who have lost their health care coverage in the past three years, I wonder if that's a myth. I wonder if the fact that Oregon has the second highest unemployment in the country, I wonder if that's a myth. I wonder if the four million Americans who have fallen into poverty in the last four years, I wonder if that's a myth. What about the fact that folks' income is going down, at the same time that the cost of virtually everything -- health care, child care, college tuition -- are going up, I wonder if they think that is a myth. Well, here's the truth. Come November 2nd, we're going to send George Bush out of town, and that will not be a myth."

 

I'm sure there's an alert we can raise for "Excessive John Snow"

 

I wonder if there's some stuff to show that Bush will end this term with more jobs than in January 2001. (Well, granted, I bet the rebuttal is "We have more people employed in 2004 than in 2001.. ignoring the fact that the labor force also grows and all)

 

Beware the John Snowman!

[Guest MikeSC]

And Bush could mention the new Nobel Prize winner in economics who felt that Bush's tax cuts --- WEREN'T BIG ENOUGH.

 

And, no offense, I'll take the Treas. Sec.' opinion on the economy over a mediocre Senator and his Boy Wonder sidekick.

-=Mike

[Jobber of the Week 0]

Who appoints the Treasury Seceretary?

 

That isn't a rhetorical questiron, I'm genuinely interested.

[Guest BDC]

Cabinent appointments are made by the Pres, but approved by the Senate based on credentials.

[Rob E Dangerously 0]

So.. did Bush know of the mythical stature of the surplus before he cut taxes?

 

I recall that he said a surplus was proof of over-taxation.

 

And if there was never a surplus.. does this mean we'll run a larger deficit than the current one, or a smaller one.

 

Bush could mention the new Nobel Prize winner in economics who felt that Bush's tax cuts --- WEREN'T BIG ENOUGH.

 

http://news.bbc.co.uk/2/hi/business/2735269.stm

 

Ten Nobel prize winning economists have attacked President George W Bush's tax cutting policies.

 

Hmm.. ok Mike

[pappajacks 0]

And Bush could mention the new Nobel Prize winner in economics who felt that Bush's tax cuts --- WEREN'T BIG ENOUGH.

 

And, no offense, I'll take the Treas. Sec.' opinion on the economy over a mediocre Senator and his Boy Wonder sidekick.

-=Mike

The treasury secretary is the President's yes man. Not once has Snow criticized the economy since appointed.

 

If you want a more honest opinion about the state of the economy and Bush's economic failure or success, Greenspan would be the man to turn too.

[Dr. Tyler; Captain America 0]

The Nobel Prize is a tool of the liberal media.

[snuffbox 0]

The Nobel Prize is a tool of the liberal media.

And terrorism.