Jim wrote:
at this point, if there's a second dip to the
recession, it's likely that Kerry will get the blame (assuming he's
elected). Even if he's not elected, Bushmen will probably blame him for
undermining faith in the Chief.
...and his Office...and the US Labor and Commerce Departments...
Well, the US Labor Department's announcement on Friday that the new US
job creation figure --more than half, again, low-paid temporary
positions -- for June was less than half of what was expected, and all
that despite the fact the estimated figures were already revised
downwards from previous months!
Bush is fast approaching the distinction of being the first president
since Herbert Hoover to have seen the actual number of jobs fall during
his presidency.
The US Commerce Department has also revised downwards its estimate of
first quarter growth from 4.4 to 3.9 per cent, as a result of lower
exports (and higher imports).
Now all that coupled with rising gasoline prices and interest rates, I
anticipate more and more downward revisions for growth and job
creation.
An economic recovery indeed.
Diane
