FRIDAY FACTS
Strong Support For President Bush And His Social Security Policies, Senate Passes Class Action Lawsuit Reform And More Positive Economic Indicators
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New Polls Show Concern For Social Security And Support For Personal Accounts:
Newsweek: “Young People, Having Little Faith That Social Security Will Be There For Them Anyway, Are The Most Willing To Overhaul The System.” (Marcus Mabry, “Newsweek Poll: Bush’s Next Campaign,” Newsweek Online, http://msnbc.msn.com/id/6918265/site/newsweek/, Accessed 2/9/05)
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62% Of 18-34 Year Olds Believe That Social Security Will Not Be There For Them When They Retire. (Newsweek Poll, 1,009 Adults Nationwide, Conducted 2/3-4/05, Margin Of Error +/- 3%)
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“Fifty-Three Percent Of 18-To-34 Year-Olds Believe The Best Way To Run Social Security Is By ‘Using The Government To Direct Workers’ Money Into The Stock Market In An Effort To Generate A Higher Rate Of Return On Retirement Savings.’” (Marcus Mabry, “Newsweek Poll: Bush’s Next Campaign,” Newsweek Online, http://msnbc.msn.com/id/6918265/site/newsweek/, Accessed 2/9/2005)
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65% Of Americans Agree With President Bush That Social Security Is Facing A Funding Crisis. (Marcus Mabry, “Newsweek Poll: Bush’s Next Campaign,” Newsweek Online, http://msnbc.msn.com/id/6918265/site/newsweek, Accessed 2/9/2005)
CNN/USA Today/Gallup Poll: Americans Believe The Current Social Security System Either “In A State Of Crisis” Or To Have “Major Problems.” (CNN/USA Today/Gallup Poll. 2/4/05-2/6/05. N=1,010 Adults Nationwide. MoE +/- 3)
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72% Of Americans Believe Social Security To Be Either “In A State Of Crisis” Or “To Have Major Problems.” (CNN/USA Today/Gallup Poll. 2/4/05-2/6/05. N=1,010 Adults Nationwide. MoE +/- 3)
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64% Of Americans Claimed They Believed Social Security Would Be Bankrupt By The Year 2042. (CNN/USA Today/Gallup Poll. 2/4/05-2/6/05. N=1,010 Adults Nationwide. MoE +/- 3)
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69% Of Americans Responded “Higher” Or “Same” When Asked If They Thought They Would “…Receive Higher Social Security Benefits Than The Government Would Provide…” If They “…Had Invested A Portion Of…Social Security Taxes…In Stocks And Bonds…” (CNN/USA Today/Gallup Poll. 2/4/05-2/6/05. N=1,010 Adults Nationwide. MoE +/- 3)
Poll Shows Strong Support Of President And Republican Party:
“President Bush’s Job Approval Rating Has Bounced Up To 57 Percent And Voters Are Much More Upbeat About Iraq After The Election There.” (Deborah Orin, “Poll Vault For Prez After Iraq Vote, Speech,” New York Post, 2/8/05)
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“Bush’s Job Rating Is Now At Its Highest In Over A Year - And The Republican Party Overall Has A Much Better Image Than Democrats As Bush Heads Toward Battles Over The Budget And Social Security, The CNN/USA Today Poll Found.” (Deborah Orin, “Poll Vault For Prez After Iraq Vote, Speech,” New York Post, 2/8/05)
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“Bush’s Personal Image Is Even Higher Than His Job Approval - 59 Percent Like Him While 39 Percent Dislike Him - And First Lady Laura Bush Is Up In The Stratosphere With An 80 Percent Approval Rating.” (Deborah Orin, “Poll Vault For Prez After Iraq Vote, Speech,” New York Post, 2/8/05)
“Overall The Democratic Party Is Taking A Beating - The Republican Party’s Rating Is 56 Percent Favorable And 39 Percent Unfavorable For A Net Positive Rating Of 17 Percentage Points.” (Deborah Orin, “Poll Vault For Prez After Iraq Vote, Speech,” New York Post, 2/8/05)
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“By Contrast, The Democratic Party’s Rating Is 46 Percent Favorable And 47 Percent Unfavorable - A Slightly Negative Net Rating.” (Deborah Orin, “Poll Vault For Prez After Iraq Vote, Speech,” New York Post, 2/8/05)
Senate Passed Class Action Lawsuit Reform:
“The U.S. Senate Approved On Thursday A Bill Aimed At Curbing Class-Action Lawsuits That Was Sought By Business And Is Part Of President Bush’s Drive To Overhaul The Civil Justice System.” (“Senate Backs Bill Curbing Class-Action Suits,” Reuters, 2/10/05)
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“The 72-26 Vote Marked A Major Victory For Republicans And Their Business Backers Over Trial Lawyers And Their Democratic Allies Who For Years Barred Similar Proposals In The Senate. In The End, 18 Democrats Joined Republicans In Passing The Bill.” (“Senate Backs Bill Curbing Class-Action Suits,” Reuters, 2/10/05)
Economy Continues To Demonstrate Strength, Vitality:
USA Today: “The Dollar Rallied Monday After Investors Embraced The Bush Administration’s Pledge To Restrain Spending And Reduce The Deficit, Which Has Acted As A Drag On The U.S. Currency.” (Barbara Hagenbaugh, “Bush’s Budget Proposal Gives Dollar A Lift,” USA Today, 2/8/05)
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“The Dollar Appreciated To $1.2780 Per Euro, The Strongest Since Early November.” (Barbara Hagenbaugh, “Bush’s Budget Proposal Gives Dollar A Lift,” USA Today, 2/8/05)
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“The Dollar Also Strengthened Against Other Currencies And Is Up 3% Against A Basket Of Major Currencies This Year.” (Barbara Hagenbaugh, “Bush’s Budget Proposal Gives Dollar A Lift,” USA Today, 2/8/05)
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“The Dollar Strengthened After White House Officials Presented Their Proposed Budget For Fiscal Year 2006, Which Begins Oct. 1. The Budget Includes A Plan To Reduce Non-Security, Discretionary Spending And To Cut The Budget Deficit…” (Barbara Hagenbaugh, “Bush’s Budget Proposal Gives Dollar A Lift,” USA Today, 2/8/05)
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“‘Everybody Is Just In Love With The Dollar,’ Says Chris Melendez, CEO Of Currency Hedge Fund Tempest Asset Management. ‘There Is Enthusiasm About The Budget And How Serious The Administration Is To Contain’ The Deficit, He Says.” (Barbara Hagenbaugh, “Bush’s Budget Proposal Gives Dollar A Lift,” USA Today, 2/8/05)
“The Number Of U.S. Workers Filing For State Unemployment Benefits Dropped By 13,000 To A Seasonally Adjusted 303,000 In The Week Ending Feb. 5, The Lowest In More Than Four Years, The Labor Department Reported Thursday.” (Rex Nutting, “U.S. Initial Jobless Claims Fall To 4-Year Low “ CBS Marketwatch, 2/10/05)
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“The Less-Volatile Four-Week Average Of Initial Claims Fell By 16,000 To 315,500, Also The Lowest In More Than Four Years.” (Rex Nutting, “U.S. Initial Jobless Claims Fall To 4-Year Low “ CBS Marketwatch, 2/10/05)
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“The Jobless Claims Data Show Improvement In Labor Market Conditions. Layoffs, Represented By Initial Claims, Have Declined About 13 Percent Over The Past Year, From About 360,000 A Year Ago To 315,000 Today.” (Rex Nutting, “U.S. Initial Jobless Claims Fall To 4-Year Low “ CBS Marketwatch, 2/10/05)
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“Continuing Claims, Which Give A Flavor Of The Hiring Climate, Have Fallen About 14 Percent From 3.17 Million A Year Ago.” (Rex Nutting, “U.S. Initial Jobless Claims Fall To 4-Year Low “ CBS Marketwatch, 2/10/05)