Yesterday we discussed the continued parade of positive economic data on the state of the US economy. Indeed, we have been constantly talking about the continued success of the US economy all year. On average, the US economy has created almost 200 thousand jobs per month. By that rate the economy will have created some 2 million jobs in this year alone. According to figures released this week, the US economy grew at a rate of 4.3% for the most recent quarter, far exceeding analyst’s expectations. In spite of Hurricane Katrina and its devastating affects, the US economy continues to “boom” as the New York Times pointed out.

Not only is the economy expanding at a very healthy rate, but unemployment remains low (5%), in spite of significant job losses in the Gulf region. Inflation also remains relatively low. This combined with the fact that the US continues to be ranked as one of the healthiest environments for business and we see that the propaganda spewed by the left on an almost daily basis is just that, propaganda, devoid of truth or legitimacy. This reality would be hard to ascertain by gauging the average man on the street. As we have noted time and time again President Bush has done little to toot his own horn, only now is he beginning to show any backbone with regard to Iraq by standing up for his position. Generally, however, his dishwatery speeches fail to deliver the knock out punch that is necessary. Yes the president has acknowledged that the US must stay the course in Iraq, but he fails to communicate why, nor does he confront the misconception that Saddam possessed no weapons of mass destruction or address the issue of terrorism and the need to confront terrorists, while dispelling the premise that the war in Iraq has caused terrorism. This has gone on for so long that we have come to accept the reality that Bush will allow his opponents to rewrite history, with little more than a peep.

Apparently, its not just on the issue of Iraq that Bush is willing to cave. With the economy doing so well, as we have noted, why no word from the White House? During the Clinton era, the president wasted no time in taking credit for even the most insignificant news about the US economy, so much so that the 90s economic boom is equated with president Clinton. Few realize that without Clinton’s early tax increases, the economy would have grown even larger, few also realize that the economic recession of the early 2000s began under Clinton’s watch. Few recognize this because Clinton was a master at communicating his ideas before the American people. Clinton also had willing accomplices in the media, a luxury Bush does not have, but this is no excuse. As CNBC’s Larry Kudlow points out both Clinton in the 1990s and Reagan in the 1980s were masters at communication. They showed no hesitation in taking credit for the success of the US economy.

“If former President Clinton had overseen this economy, he’d have held daily Rose Garden news conferences to mark the occasion. In fact, former President Reagan did just that in the booming 1980s -- he gave speech after speech touting the success of his supply-side tax cuts. Yet President Bush seldom goes into the current economic story, and when he does it’s just a mention.” Kudlow noted. Kudlow’s account is extremely accurate, in fact the warning signs were apparent even during the 2004 presidential campaign. Bush never attempted to articulate just how incredible our success has been. Here we have an economy going into recession in 2000, then in 2001 we have a massive terror attack, which further crippled the economy, not to mention the subsequent war on terror. Yet we were (and are) creating tens of thousands of jobs daily, the economy expanding and inflation well in check. John Kerry should have had no legs to stand on.

Today this presidential paralysis continues, but the president isn’t alone, even Republicans in Congress seem to lack the ability to speak for themselves. What little we do know about the economy has been voiced by the leftist media. For this Bush and the GOP have no excuse. When the GOP looses the Senate and possibly the House in next year’s congressional elections they will have no one but themselves to blame.
http://news.bbc.co.uk/2/hi/business/4485314.stm
http://www.townhall.com/opinion/columns/larrykudlow/2005/11/30/177140.html