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

To: Kenneth E. Phillipps who wrote (484338)	10/31/2003 9:03:05 AM
From: JakeStraw	Respond to of 769670

itc.virginia.edu

To: Kenneth E. Phillipps who wrote (484338)	10/31/2003 9:03:54 AM
From: JakeStraw	Read Replies (1) \| Respond to of 769670

The U.S. economy expanded at a 7.2 percent annual rate from July through September, the fastest in almost two decades, the Commerce Department said yesterday. Consumer spending, which accounts for 70 percent of the economy, grew at a 6.6 percent pace, the fastest since the third quarter of 1997.

To: Kenneth E. Phillipps who wrote (484338)	10/31/2003 9:04:58 AM
From: JakeStraw	Respond to of 769670

Companies may have to increase investment in equipment and production after the surge in third-quarter consumer demand drained inventories. That would help make up for any slowdown in consumer spending, said Peter Kretzmer, senior economist at Banc of America Securities.

To: Kenneth E. Phillipps who wrote (484338)	10/31/2003 9:05:33 AM
From: JakeStraw	Read Replies (1) \| Respond to of 769670

``The job market is getting better,'' Joerres said in a televised interview with Bloomberg News. ``In the South and Midwest, we're seeing the strongest recovery in the U.S. in basic manufacturing, where inventories are very low.''

To: Kenneth E. Phillipps who wrote (484338)	10/31/2003 9:39:18 AM
From: JakeStraw	Read Replies (1) \| Respond to of 769670

*margins are expanding as firms gain operating leverage in an accelerating economy...*

To: Kenneth E. Phillipps who wrote (484338)	10/31/2003 11:01:10 AM
From: JakeStraw	Respond to of 769670

"Yes, indeed — the Bush boom has begun at last. This tax jolt has ended the prior capital bust — which lasted a long and dreary three years — and ignited a new capital boom. But give due credit to House taxmeister Bill Thomas for crafting important pro-growth legislation to reduce tax burdens on all kinds of capital formation. Also give credit to Alan Greenspan & Co. The central bankers provided the necessary liquidity to finance these new investment tax incentives. Of course, demand-side pessimists think these tax-cut effects will wear off in another quarter or two. But they'll be proven wrong because they do not understand the incentive model that rewards additional work, risk, and investment when all three get paid more after-tax. This inflation-free economic boom, bolstered by continued technology advances in broadband and Internet services, could last seven to ten years — just like the prior two booms of the 1980s and 1990s. Just think of it