-Caveat Lector-

http://truthout.org/docs_03/022503C.shtml

Editor: Bush Cited Report That Doesn't Exist
By James Toedtman
NewsDay | Chief Economic Correspondent

February 23, 2003

Washington - There was only one problem with President George W. Bush's
claim Thursday that the nation's top economists forecast substantial
economic growth if Congress passed the president's tax cut: The forecast
with that conclusion doesn't exist.

Bush and White House Press Secretary Ari Fleischer went out of their way
Thursday to cite a new survey by "Blue-Chip economists" that the economy
would grow 3.3 percent this year if the president's tax cut proposal
becomes law.

That was news to the editor who assembles the economic forecast. "I don't
know what he was citing," said Randell E. Moore, editor of the monthly
Blue Chip Economic Forecast, a newsletter that surveys 53 of the nation's
top economists each month.

"I was a little upset," said Moore, who said he complained to the White
House. "It sounded like the Blue Chip Economic Forecast had endorsed the
president's plan. That's simply not the case."

Deputy White House Press Secretary Claire Buchan insisted Friday that the
survey, which mentioned "the likelihood that some version of the Bush
administration's latest stimulus package will be enacted," justified the
president's claim. Moore said that a survey taken in January before the
president announced his plan forecast 3.3 percent annual growth between
the last quarter of 2002 and the last quarter of 2003. A survey taken in
February reached the same consensus.

(In accordance with Title 17 U.S.C. Section 107, this material is
distributed without profit to those who have expressed a prior interest in
receiving the included information for research and educational purposes.)

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