by John Hawkins | June 13, 2005 2:01 am
A recent survey by the Pew Research Center indicates that only a third of Americans believe the economy is in good shape.
How is this possible? The deficit is shrinking. We’ve seen 24 straight months of economic growth and the unemployment rate is down to 5.1%. The trade deficit is down. Housing starts are up. The economy of 2004 was the best in five years… just to name a few things. There are so many different indicators telling us that the economy is doing very well, yet only a third of Americans can see it? I just don’t get it.
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Fed Chairman Alan Greenspan is also upbeat about the economy. i remember when Bush was running for President in 2000, and he was warning the country that the economy was about to go in decline. The Democrats accused him of talking down the economy. Well, Bush was right, the economy went into recession… But guess what? We got tax relief, and the economy turned around. Now what do we see happening? The Democrats talking down the economy. Unfortunately, it appears to be working.
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