Jul 31 2004
Out there
Need further proof that George W. Bush is completely out of touch with reality?
Bush Insists Economy Is on ‘Rising Path’ GRAND RAPIDS, Mich. - The federal deficit is at a record high and economic growth has slowed, but President Bush is insisting on the campaign trail that the U.S. economy is on a “rising path.” In his weekly radio address Saturday, which he taped Friday while on a stop in Michigan, Bush worked to convince voters that the economic rebound is not stalling.
His optimistic forecast came a day after the White House projected that the deficit for the budget year ending Sept. 30 will soar to $445 billion — the highest in history.
That analysis came as the Commerce Department said economic growth slowed this spring to an annual rate of 3 percent, well below the 3.8 percent spurt that many economists expected. Consumers, hit by high gasoline prices, cut back their spending, the department said.
My advice to Mr. Bush? Take another Prozac.
