Wednesday, February 18, 2004
DISSENT IN THE RANKS
Or Just a Dose of Reality?
It looks like former Treasury Secretary Paul O’Neill isn’t the only Bush administration official who doesn’t buy the White House line.
The New York Times today reports (“Bush Officials Offer Cautions on White House Jobs Forecast,” by Edmund L. Andrews):
Treasury Secretary John W. Snow distanced himself on Tuesday from the Bush administration’s official prediction that the nation would add 2.6 million jobs by the end of this year.
That prediction, which is far more optimistic than that of many private sector forecasters, was part of the annual economic report released last week by the White House Council of Economic Advisers and was immediately echoed by Mr. Bush himself.
But on a tour through Washington and Oregon to promote the president’s economic agenda, Mr. Snow and Commerce Secretary Donald L. Evans both declined to endorse the White House prediction and cautioned that it was based on economic assumptions that have an inherent margin of error.
“I think we are going to create a lot of jobs; how many I don’t know,” Mr. Snow said, adding that “macroeconomic models are based on a lot of assumptions” and are “not without a range of error.” […]
To create 2.6 million jobs by the end of this year, the nation would have to add more than 230,000 positions each month from now until January. But many if not most economic forecasters expect a more modest upswing, largely because the nation’s productivity has been climbing so rapidly that companies have been meeting higher demand without adding workers.
Selling a product in which you have no confidence. That’s the Republican way.
The Rittenhouse Review |
Copyright 2002-2006 | PERMALINK |
|
|
|
CONTACT |
|
Send E-Mail
JAMES MARTIN CAPOZZOLA
|
|
BIO & STUFF |
|
James Martin (Jim) Capozzola launched The Rittenhouse Review in April 2002, TRR: The Lighter Side of Rittenhouse, HorowitzWatch, and Smarter Andrew Sullivan in July 2002, and Bulldogs for Kerry-Edwards in October 2004. He is also a contributing member of President Boxer.
He received the 2002 Koufax Award for Best Post> for "Al Gore and the Alpha Girls" (published November 25, 2002). Capozzola's record in the Koufax Awards includes two additional nominations for 2002 (Best Blog and Best Writing), three nominations for 2003 (Best Blog, Best Series, and Best Writing), and two finalist nominations in 2004 (Best Blog and Best Writing).
Capozzola’s experience beyond the blogosphere includes a lengthy career in financial journalism, securities analysis, and investment research, and in freelance writing, editing, ghost-writing, and writing instruction.
He earned his bachelor's degree in political science from the University at Albany and a master's in foreign affairs from the University of Virginia.
Capozzola lives in Philadelphia with his bulldog, Mildred.
|
PUBLICATION NOTES |
|
Posts pertaining to site developments, news, and updates are subject to deletion and to withdrawal, and with respect thereto, without notice.
~~~~~
Access to linked articles may require registration or subscription.
~~~~~
Linked articles are subject to expiration at the sole discretion of the original publisher.
~~~~~
Letters received by The Rittenhouse Review are subject to publication in full and with complete citation and attribution, including the sender's mailing and/or e-mail address and/or addresses, unless otherwise specifically requested in writing and at the time of submission.
~~~~~
The publisher reserves the right to confirm the identity and/or identities of each, any, and all correspondents through and by whatever means legal and necessary.
~~~~~
Any and all correspondence received and published hereat is subject to editing by the publisher for content, particularly but with no limitations implied thereto, with respect to vulgarity and other offensive language, and length, at the complete, full, and unhindered discretion of same.
~~~~~
The decision to publish each or any correspondence, if at all, rests solely with the publisher of this site.
~~~~~
The publisher retains copyrights to all original material here published and any submissions here received, including correspondence directed hereto, whether or not published hereat, unless otherwise specified.
~~~~~
Obviously, no provision is here made for immediate comments from readers.
~~~~~
All rights reserved and all that.
|
|
|
LINKS |
|
|
|
|