THE BUSH ECONOMY
Key economic gauge suggests slowdown
From the AP via the Houston Chronicle:
The Index of Leading Economic Indicators, a widely watched gauge of future economic activity, fell in October for the fifth straight month, suggesting that the economy may be slowing, a private research group reported today.
The Conference Board said that its main indicator of future economic growth fell 0.3 percent in October, following declines of the same size in September and August. The October decline was steeper than the fall of 0.1 percent that economists had been expecting.
Ken Goldstein, an economist at the New York-based research group, called the latest decline in the index "a clear signal that the economy is losing steam." He also said that "worries about where the economy is headed may cause some strategic plans to be put on hold."
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I guess this means tax cuts for the rich aren't working. I'm sure that the Republican response will be something to the effect that the tax cuts weren't big enough so we need more. It's kind of like the old Saturday Night Live skit where Steve Martin plays a medieval doctor who so strongly believes in the archaic medical practice of bloodletting that his patient bleeds to death. That's what the Republicans are doing now, bleeding us to death. My god, what was half the country thinking when they voted for Bush?
Key economic gauge suggests slowdown
From the AP via the Houston Chronicle:
The Index of Leading Economic Indicators, a widely watched gauge of future economic activity, fell in October for the fifth straight month, suggesting that the economy may be slowing, a private research group reported today.
The Conference Board said that its main indicator of future economic growth fell 0.3 percent in October, following declines of the same size in September and August. The October decline was steeper than the fall of 0.1 percent that economists had been expecting.
Ken Goldstein, an economist at the New York-based research group, called the latest decline in the index "a clear signal that the economy is losing steam." He also said that "worries about where the economy is headed may cause some strategic plans to be put on hold."
Click here for the rest.
I guess this means tax cuts for the rich aren't working. I'm sure that the Republican response will be something to the effect that the tax cuts weren't big enough so we need more. It's kind of like the old Saturday Night Live skit where Steve Martin plays a medieval doctor who so strongly believes in the archaic medical practice of bloodletting that his patient bleeds to death. That's what the Republicans are doing now, bleeding us to death. My god, what was half the country thinking when they voted for Bush?
Republican Economic Policy
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