October 22, 2003 |
I have a close friend, who along with many Democratic dreamers, predicts the economy will sink President Bush's reelection. I disagree, so I offered to make up the difference if his stock account doesn't rise 3 percent in the next six months (triple what banks and bonds are paying), but I would get any return over that amount. He declined. He may be misguided, but he's no idiot. He understands that the economy may not be great, but it is OK and surely getting better - which bodes well for Bush's political future.
August 7, 2001
March 15, 2008
WE OWE more on our homes than we have equity. We're paying ridiculously high gas prices, along with other higher prices because of these gas prices, yet we are not bringing in any more money. Five states have suspended educational loans, because the money simply isn't there. Health programs are being cut, along with programs in the arts, and others. Forty-three cents of every tax dollar is being spent on the military, with only 20 cents to health care and 12 in response to poverty.
October 5, 2011 |
WASHINGTON - Federal Reserve Chairman Ben S. Bernanke said Tuesday that the nation's economy "is close to faltering" and that the central bank was prepared to take further steps to support the recovery. In a day of volatile swings, stocks came off their morning lows after Bernanke implied that the Fed could adopt additional stimulus measures in the coming months. In the early afternoon, share prices trended down again on continuing fears about the economy and Europe's debt problems - but they surged into positive territory in the last 45 minutes of trading on reports that European officials were working on a joint effort to prop up the region's struggling banks.
June 8, 2011 |
President Obama and Federal Reserve Chairman Ben S. Bernanke on Tuesday each offered hope for the nation's economy even as they acknowledged its struggles. While Bernanke called the recovery from the recession - especially for the job market - "frustratingly slow," he predicted that the economy would expand later this year. He blamed the recent weakness on high gasoline prices and the effect of the March 11 earthquake in Japan, which has slowed production of cars and other products using parts made in Japan.
January 12, 2001 |
While the national economy is slowing down, it still seems to be growing, not shrinking. And growth is likely to pick up in the second half of 2001, according to the president of the Federal Reserve Bank of Philadelphia. "Clearly, the economy has slowed down," Dr. Anthony M. Santomero told reporters yesterday. But, he added, "the data I have seen does not suggest we are in a slowdown with a zero growth rate. . .We're seeing softening the first half of the year. I think we'll see growth in the second half.
March 25, 1992 |
The Philadelphia economy picked up steam in the fourth quarter last year, according to a study by Grant Thornton, an accounting and management consulting firm. The quarterly Grant Thornton Index of economic indicators rose 1.40 points to 109.5 in the fourth quarter, ended Dec. 31, from 108.1 in the third quarter, ended Sept. 30. The firm said it is the first time in two years that the index for Philadelphia has increased. Growth in non-farm payrolls, construction permits, and factory hours all contributed to the increase, the firm said.
January 29, 1988 |
Rep. William H. Gray III, D-Pa., chairman of the House Budget Committee, said yesterday that Democrats have a chance to win the White House in November, particularly if the economy goes sour before then. "If the economy is doing very well and foreign policy is doing well, the Republicans will have a leg up," said Gray, who plans to announce his endorsement of a candidate next month. He warned that the economy's "fundamentals," such as the trade deficit, the sagging value of the dollar and a downward trend in consumer spending," are so out of sync" that the chances of a recession are "50-50.
September 7, 2008
The hoopla of national political conventions has subsided, and Congress returns to work tomorrow with a weak economy demanding lawmakers' attention. With unemployment and inflation rising, the danger is that Congress instead will get sidetracked by election-year political stunts. Former Republican House Speaker Newt Gingrich, who led a counterproductive government shutdown in the mid-1990s, is at it again. Backed by a well-funded advocacy group that he founded, Gingrich is agitating for another shutdown of the federal government, this time over oil drilling - the subject of his new book.
July 17, 2002 |
Federal Reserve Chairman Alan Greenspan expressed confidence yesterday that the U.S. economy would recover from its slump, but he warned that it still faced "considerable uncertainties," including the fallout from corporate accounting scandals. He applauded efforts to change the corporate accounting system, particularly proposals to stiffen punishment for executives convicted of financial fraud. The House of Representatives passed a bill yesterday, 391-28, that would increase jail terms for financial fraud, one day after the Senate passed a broad accounting reform bill that included similar measures.