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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: T L Comiskey who wrote (49797)	6/25/2004 9:41:20 AM
From: T L Comiskey	Read Replies (1) \| Respond to of 89467

Wacked again............. Business - Reuters First Qtr. Growth Slashed, Inflation Up WASHINGTON (Reuters) - The U.S. economy grew much more slowly than previously thought in the first quarter while inflation was higher, a government report showed on Friday. The surprise downward revision to gross domestic product - which measures total output within the nation's borders - cut growth to a 3.9 percent annual rate in the first three months of 2004 from the 4.4 percent reported a month ago and below the 4.1 percent pace in the final quarter of last year. Wall Street analysts had not expected the Commerce Department (news - web sites) to change the GDP (news - web sites) estimate. The department said the reduction in its final measure of first-quarter economic growth resulted from a sharp upward revision to imports - which subtract from GDP - and a downward revision to the amount consumers spent on bank services. The government also ratcheted up a key measure of inflation, confirming an acceleration in price rises that has fueled expectations the Federal Reserve (news - web sites) will begin raising interest rates next week to head off inflation. The core price index for consumer spending - a favorite of Fed Chairman Alan Greenspan (news - web sites) that cuts out volatile food and energy prices - gained at an annual rate of 2.0 percent in the quarter, a bump up from the 1.7 percent reported a month ago. Commerce also provided its estimate of market-based personal consumption expenditures, a supplemental measure meant to show household purchases of goods and services that excludes implicit prices such as banking services. It said the market-based PCE rose at a 3.1 percent annual rate in the first quarter, while the core rose at a more moderate 1.6 percent annual rate. The core rate was double the 0.8 percent pace in the fourth quarter. Until now, the market-based PCE had been released with personal income data, several days after the GDP report. In its final snapshot of the first-quarter economy, Commerce said after-tax corporate profits rose 2.1 percent from the fourth quarter, a sharp upward revision from the 1.4 percent reported a month ago. Still, the profit climb was well below the 7.6 percent rise notched in the final three months of 2003.

To: T L Comiskey who wrote (49797)	6/25/2004 10:19:32 AM
From: Emile Vidrine	Read Replies (2) \| Respond to of 89467

I am not a supporter of Cheney but I certainly can understand how someone could simply curse at these self-serving Democratic hypocrites rather than participating in the irrational discourse. These congressional Democrats are hypocrites and worst than the President and his Zionist neocons because they are the traitors who gave congressional approval and funding for Bush's illegal, anti-American and treasonous "preemptive" invasion of Iraq. Listening to Kennedy and Schumer on same-sex marriages is enough to make one wonder if it is not time that America considers opening Gulags to reeducate some of these immoral mutant perverts. Cheney, Bush, Rumsfeld should, of course, be the first tenants of our reeducation Gulags.