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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: George Coyne who wrote (201165)	11/7/2001 9:24:28 PM
From: Mr. Whist	Respond to of 769667

George and Jagman: More economic gristle to chew on. Happy reading. THE ECONOMY Congress is currently considering an economic stimulus bill. In the debate, Congressional Republicans favor greater reliance on tax cuts to stimulate the economy, while Congressional Democrats favor increased reliance on government spending programs, including the funding of new construction projects and providing unemployment benefits to those who have recently lost their jobs. The latest CNN/USA Today/Gallup poll shows that a majority of Americans, 56%, favor the Democratic approach of increased spending, while 32% favor the Republican strategy of increased tax cuts. Several economic measures showed a severe decline in public feelings about the economy in early September, compared with public ratings the previous month. However, in the immediate aftermath of the attacks, consumer sentiment reversed direction, showing positive gains in mid-September and early October. Some of the most recent measures suggest the "rally" effect may now have waned, although ratings have not thus far declined below pre-Sept. 11 levels. A Gallup poll conducted Sept. 7-10 showed just 32% of Americans rating current economic conditions as excellent or good, the lowest level since May 1996. The next week, in the wake of the terrorist attacks, the percentage jumped to 46%, comparable to the ratings given the economy six months earlier. An Oct. 11-13 poll showed the percentage at 39%, still above the pre-attack levels. The University of Michigan announced their September consumer sentiment index at 81.8, following the largest one-month drop in its history. However, the October number reversed direction to 82.7. The Conference Board’s October report on consumer confidence showed a sharp decline. The Oct. 11-13 Gallup poll shows that a third of Americans say the economy is getting better, while 55% say worse. While the net percentage saying "worse" is -22 percentage points, it is better than the figure recorded in mid-September, and much better than the -51 recorded right before the terrorist attacks. gallup.com