Posted on 01/06/2006 8:48:40 AM PST by GianniV
WASHINGTON-- President Bush and leaders of his economic team fanned out to trumpet encouraging signs in the economy but were confronted Friday with disappointing news about weaker-than-expected job growth.
Friday's marquee event is Bush's trip to Chicago, where the president will appear at the Chicago Board of Trade and deliver a speech on the economy before the Chicago Economic Club.
Vice President Dick Cheney will toura Harley-Davidson factory and making remarks in Kansas City, Mo.; Treasury Secretary John Snow at the New York Stock Exchange; Commerce Secretary Carlos Gutierrez in Louisville, Ky.; Labor Secretary Elaine Chao in Baltimore; and Energy Secretary Sam Bodman in Pittsburgh.
Their appearances come on the heels of the government's release of its employment report for December, which showed that job growth slowed from a big hiring spurt in November. There was a gain of just 108,000 jobs in December, about half of what economists were expecting. That compared with 305,000 jobs created in November, according to revised figures.
"These are strong numbers," White House deputy press secretary Trent Duffy said. He said the November and December figures signaled the economy was adding more than 200,000 jobs a month. "It's very healthy job creation."
Bush's poll numbers for handling the economy are up a bit since gasoline prices have fallen, according to AP-Ipsos polling.
And there is other positive news that Bush and his team point to, including respectable if not spectacular holiday retail sales, rising consumer confidence and a third-quarter growth rate of 4.3 percent that was the highest since early 2004.
"The tax cuts that we passed are working to create jobs and economic opportunity," White House press secretary Scott McClellan said.
Democrats, on the other hand, note high prescription drug costs and confusion about the new Medicare prescription drug plan, high heating bills, displaced workers in the Gulf Coast and rising federal deficits.
"What we have here is the very definition of a middle-class squeeze-- college tuition is way up, heating prices are at record levels and health care and prescription drug prices are through the roof," said Sen. Chuck Schumer, D-N.Y. "For the administration to be out there saying things are great shows just how out of touch they are with the average American."
McClellan said Bush would take on Democrats who oppose his call to make previously passed tax cuts permanent, instead of letting some expire as they now are scheduled to do. The administration says that to oppose extending the cuts is to "advocate raising taxes."
The president also was to call on Congress to employ spending restraint. "We need real discipline in Washington with the taxpayers' money," McClellan said.
Other areas Bush was to address include the need for freer trade around the world and adequate education and job training.
Jennifer Loven is a bad joke.
Jennifer Loven is a Democrat hack. Period.
This is about as nice as she'll ever be to Bush.
Hey Jennifer - why does President Bush have to "trumpet" good economic news? Is it because the AP and other MSM outlets WON'T REPORT IT????????
"What we have here is the very definition of a middle-class squeeze-- college tuition is way up, heating prices are at record levels and health care and prescription drug prices are through the roof," said Sen. Chuck Schumer, D-N.Y. "For the administration to be out there saying things are great shows just how out of touch they are with the average American."
Well geez Chucky, if you're so worried about a middle class "squeeze" then why not advocate a middle class tax cut? It's more of the same tired "attack but offer no alternative solutions or plans" strategies of the utterly useless Democratic party. By the way Chuck, I'm middle class as hell and doing just great.
As for the "disappointing" job creation numbers, those are almost always revised upwards. I would lay money on the fact that the 108,000 number will be revised up to at least 138,000 with February jobs report release.
Another question for Chuckie Schumer - how many jobs have you ever created??
Take an extra heavy top coat Mr. President, it's cold up there.
And as for the little guy, gleaming knowledge from the recent mine disaster, I now know that coal miners...(the little guy)...average about $61,000 income ...that's double the average West Virginia income.
And specialty skills like electricians can earn way in excess of $100,000 per year.
And what's more......coal mines are screaming for workers!!
"That compared with 305,000 jobs created in November, according to revised figures."
Loven FAILS to mention this is a figure revised UPWARDS from November's numbers which I think we're 220,000. So this "disappointing" job creation number Loven refers to will also likely be revised upwards by at least 30,000 if not more. They almost always are.
This is a filthy lie. The job growth has been so sustained for the last 20+ monhts that the enemployment rate is below 5%. This AP writer should be fined for being DNC operative.
I just heard an ash hole on WABC radio say that "Analysts say the drop in unemployment was caused by people giving up looking for work".
These people are living in a bizarro world where everything is upside down. Since none of these "experts and analysts" is every anything but 'surprised about economic news, when do we stop calling them experts?
What are the names of these supposed "economists"?
Vice President Dick Cheney will toura Harley-Davidson factory and making remarks in Kansas City, Mo.; Treasury Secretary John Snow at the New York Stock Exchange; Commerce Secretary Carlos Gutierrez in Louisville, Ky.; Labor Secretary Elaine Chao in Baltimore; and Energy Secretary Sam Bodman in Pittsburgh. Hey Jennifer! Go back to middle school and learn how to write a proper sentence. You are a pathetic joke!
Jennifer Loven IS an operative of the DNC. What a pathetic hack.
Every stinking month these “analysts” are wrong with their jobs report predictions.
Then every month, the MSM blames Bush because the analysts got it wrong.
Sheesh!
Second, thank you for linking to the printer friendly version of the article. Those of us trapped in 56K dialup Hell appreciate your effort.
If this attitude keeps up, I'll have to change my tag line :)
Chucky TV Schmucky Schamer has to "contribute" his "wizdom". STFU already!
I just heard an ash hole on WABC radio say that "Analysts say the drop in unemployment was caused by people giving up looking for work".
Isn't this just always the convenient explanation of low unemployment numbers when a Republican is president according to the Dems. and their MSM lapdogs? I guess during the Clinton years none of the unemployment numbers reflected people who gave up looking.
The fact is, if you can afford to give up looking for a job, then you didn't need one to begin with. So what are all these people who supposedly gave up looking for work doing now? Living on the streets? That's such a phony argument and they have nothing other than partisan-driven supposition to base it on.
If anyone truly is giving up on looking for work, they're not looking very hard. Jobs are plentiful out there in most parts of the country. So most people giving up looking for jobs, even if you assume that occurs other than infrequently, are doing so willfully and out of a lack of desire to work.
We have the lowest unemployment rate in the entire world. I agree that this could be "discouraging" economic news. The question Loven should ponder is "discouraging for whom?".
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