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To: bentway who wrote (118869)	4/27/2008 5:06:20 PM
From: Smiling Bob	Respond to of 306849

Obama should have never lost PA Got to get this guy in there! --- In 2003, a University of Chicago economist named Austan Goolsbee (now a senior economic adviser to Barack Obama's presidential campaign) published an op-ed in the New York Times pointing out how the government had minimized the depth of the 2001-2002 U.S. recession, having "cooked the books" to misstate and minimize the unemployment numbers. -- Goolsbee's work- full text ppionline.org --- Why Deficits Still Matter by Austan Goolsbee The United States has run massive budget deficits every year the Bush administration has been in office. The latest budget projections from the White House show annual deficits in the $250 billion range for the rest of the president’s term, at which point nearly $3 trillion will have been added to the national debt.1 In fact, George W. Bush has presided over the biggest fiscal deterioration in American history—a sorry legacy considering his predecessor left him a healthy budget surplus projected to be $5 trillion over 10 years. Austan Goolsbee is a senior economist for PPI and the Democratic Leadership Council. This did not happen by accident. White House officials have repudiated the Clinton administration’s view that fiscal responsibility lays the groundwork for sustained economic growth. Often identified with former Treasury Secretary Robert Rubin, this view held that by running massive deficits and borrowing heavily, the federal government drove up the cost of capital. By cutting the deficit, it could bring interest rates down and thereby stimulate new waves of private investment. The economic boom of the 1990s seemed to prove Rubinomics right. But Republicans have nonetheless rejected that approach. Glenn Hubbard, formerly President Bush’s top economic adviser, said in a December 2002 speech: “One can hope that the discussion will move away from the current fixation with linking budget deficits with interest rates.” When pressed on the point, he responded: “That’s Rubinomics, and we think it’s completely

To: bentway who wrote (118869)	4/27/2008 5:20:48 PM
From: Giordano Bruno	Respond to of 306849

What do you think?

To: bentway who wrote (118869)	5/1/2008 11:09:30 AM
From: Les H	Read Replies (5) \| Respond to of 306849

Two more years of rising food prices You may have to get used to paying more for your groceries for another two years or more. Experts say an increase in global food consumption combined with increasing use of crops such as corn and soybeans for alternative fuel production are partly to blame. Agricultural economists who've studied food price fluctuations cite historical trends that show run-ups in farm commodity prices typically happen in five-year cycles. Prices flare up in the first two to three years of the cycle and then start to moderate by the fourth or fifth year, said Chris Hurt, agricultural economist at Purdue University. If 2007 was the first year of this latest cycle, Hurt said farm supply could start catching up to demand by 2010, helping to push down milk, bread, cereal and other grocery prices. Until then, "Americans will be moving backward in their lifestyle." By that he means that more families will trade down to cheaper food alternatives, or eat out less often, in order to adjust their budgets to both higher food and fuel costs. arkansasmatters.com Hard Numbers: The economy is worse than you know tampabay.com