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

To: Vitas who wrote (452915)	9/5/2003 12:50:39 PM
From: American Spirit	Respond to of 769670

Wells Fargo Expert says Bush economy worsening: Friday's reports no longer reflected a cyclical economy trying to add jobs after a recession -- "which is depressing," said Sung Won Sohn, chief economist at Wells Fargo. Analysts had expected companies to add some jobs last month. Deeper concerns now are focused on long-term structural problems in the economy, such as a flood of U.S. jobs going overseas. "We have simply seen the tip of the iceberg," Sohn said. "I think it will get worse, not better." Some reports estimate 5 million jobs -- many high-paying -- will be lost to other countries by 2015. The economy is growing, but demand is being filled from overseas, Sohn said. Also, because of that increasing global competition, businesses are holding down costs by not hiring.