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Sandman
 
Posts: n/a
Default He was right then and he's right now

U.S. Senator Robert C. Byrd, Democrat of West Virginia, delivered the
following remarks on Sunday at 138th anniversary celebration of The Nation
magazine.

Early this morning came news of the capture of Saddam Hussein. That is good
news. Despite his fall from power many months ago, the specter of a possible
return to power had cast a constant shadow over Iraq and the Iraqi people. I
applaud the tenacious work of the military and intelligence communities for
their success today.

But that success does not diminish the challenges that remain in Iraq, and
it certainly does not tamp the passions inflamed against the United States
throughout the Muslim world by our actions in Iraq. The capture of Saddam
Hussein will not be the keystone for peace in that volatile region. This day
's news does not lessen the danger that the Bush doctrine of preemptive
strikes poses to international peace and stability.

In order to bring lasting stability to Iraq, that nation needs the help of
the entire world, not just America and her fighting friends.

As each day passes and as more American soldiers are killed and wounded in
Iraq, I become ever more convinced that the war in Iraq was the wrong war at
the wrong time in the wrong place for the wrong reasons. Contrary to the
President's rosy predictions - and the predictions of others in the Bush
Administration - the United States has not been universally greeted as a
liberator in Iraq. The peace - if one can use the term "peace" to describe
the chronic violence and instability that define Iraq today - the peace is
far from being won. Iraqi citizens may be glad that Saddam Hussein is no
longer in power, but they appear to be growing increasingly resentful that
the United States continues to rule their country at the point of a gun.

What a huge price we are now paying for the President's bullheaded rush to
invoke the unwise and unprecedented doctrine of preemption to invade Iraq,
an invasion without provocation, an invasion without the support of the
United Nations or the international community.

It would be tragic enough if the casualties of the Iraq war were confined to
the battlefield, but they are not. The casualties of this war will have
serious repercussions for generations to come. Truth is one casualty.
Despite the best efforts of the White House to contort the invasion of Iraq
into an extension of the war on terror, there was never a connection between
Saddam Hussein and September 11. Not a single Iraqi was among the 19
hijackers of those four planes. Despite dire warnings from the President,
Saddam Hussein had at his fingertips neither the means nor the materiel to
unleash deadly weapons of mass destruction on the world. Despite
presidential rhetoric to the contrary, Iraq did not pose a grave and
gathering menace to the security of the United States. The war in Iraq was
nothing less than a manufactured war. It was a war served up to a
deliberately misled and deluded American public to suit the neoconservative
political agenda of the Bush White House.

A lasting casualty is the international credibility and reputation of the
United States of America. We have squandered the good will that had rallied
to our side after the attacks of 9-11, attacks that struck just a few short
blocks from where we sit tonight. At the end of that fateful day, the world
was with us. The French newspaper "Le Monde" proclaimed, "We Are All
Americans." But we squandered that good will. We turned our sights on Iraq
and turned our back on the United Nations. As a result, in some corners of
the world, including some corners of Europe and Great Britain, our beloved
nation is now viewed as the world bully.

Finally, and most disheartening to me, Congress allowed the Constitution to
become a casualty of the Bush doctrine of preemptive strikes. Congress
allowed its Constitutional authority to declare war to fall victim to this
irresponsible strategy. Just a little more than a year ago, in October 2002,
the Senate obsequiously handed the President the Constitutional authority to
declare war. It failed to debate; it failed to question; it failed to live
up to the standards established by the Framers. Like a whipped dog, the
Senate put its tail between its legs and slunk away into the shadows, slunk
away from its responsibility. Congress - and I mean both houses - Congress
delegated its constitutional authority to the President, and effectively
washed its hands of the fate of Iraq. It is a dark and despicable mark on
the escutcheon of Congress.

The roots of this travesty can be traced directly back to the President's
doctrine of preemption, that cock-eyed notion that the United States can
pre-emptively attack any nation that for whatever reason may - may! - appear
to pose a threat in the future. Not only is the doctrine of pre-emption a
radical departure from the traditional concept of self-defense, but it is
also a destabilizing influence in world affairs. The Bush doctrine of
pre-emption is a dangerous precedent. The Bush doctrine of pre-emption is a
reckless policy. The rising tide of anti-Americanism across the globe is
directly attributable to the fear and distrust engendered by this Bush
doctrine of pre-emption.

Yet, too many Americans are willing - yes, even eager - to swallow the
Administration line on pre-emption without examining it, without questioning
it, without challenging it.

Thank God for courageous institutions - like this one - which are willing to
stand up to the tide of popular convention. I commend The Nation magazine
for filling this vacuum, and I urge you to continue in your mission, without
fear, without constraint, and with an unyielding commitment to truth.

Today, for better or worse, the United States has embroiled itself in the
future of Iraq. But that does not mean that we need to continue to be the
lone wolf in Iraq. Unfortunately, the Administration's latest edict to
freeze out French, German, Russian, and Canadian companies from Iraq gives
me little reason to hope that the President is even remotely interested in
internationalizing the political, economic, and security reconstruction
effort. As a result, the White House continues to feed the perception
throughout the world that Iraq's reconstruction is a spoil of war.
Reconstruction contracts, funded with $18.6 billion from the American
taxpayer, seemingly have become kickbacks to those countries which dared not
speak out - as Germany, France, Russia, and Canada did speak out - against a
policy of preemptive war.

Like all roads to peace in the Middle East, the path to stability in Iraq
may still face obstacles. We cannot precisely predict what those obstacles
will be. But we must demand accountability from the Bush White House. We
must continue to raise questions. We must continue to seek the truth. We
must continue to speak out against wrongheaded policies and dangerous
strategies.

I am reminded of the closing lines from Tennyson's Ulysses:

tho' We are not now that strength which in old days
Moved earth and heaven, that which we are, we are, -
One equal temper of heroic hearts,
Made weak by time and fate, but strong in will,
To strive, to seek, to find, and not to yield.
For my part, I will continue to speak out. I will continue to challenge, to
question, and never yield in defense of the Constitution, the United States
Senate, and the American people. For your part, I hope that The Nation
magazine will sail on, always serving as an advocate for the truth and an
antidote to the tide of imperialism that threatens to encompass our
government. Congratulations on your remarkable achievements.


  #2   Report Post  
pyjamarama
 
Posts: n/a
Default He was right then and he's right now

"Sandman" wrote in message ...
U.S. Senator Robert C. Byrd, Democrat of West Virginia, delivered the
following remarks on Sunday at 138th anniversary celebration of The Nation
magazine.


Ah yes, Senator Byrd. Former Grand Kleagle of the Ku Klux Klan. Voted
against the Civil Rights Act 0f 1964 (like most of his democratc
collegues). He of the racist "White Ni__er" comments on sunday morning
talks shows just a few years back...

A real paragon of virtue you got there, Sandi...

And he's the guy you've chosen to spin Bush's foreign policy triumphs?

What, Cynthia McKinney wasn't available?



Early this morning came news of the capture of Saddam Hussein. That is good
news. Despite his fall from power many months ago, the specter of a possible
return to power had cast a constant shadow over Iraq and the Iraqi people. I
applaud the tenacious work of the military and intelligence communities for
their success today.

But that success does not diminish the challenges that remain in Iraq, and
it certainly does not tamp the passions inflamed against the United States
throughout the Muslim world by our actions in Iraq. The capture of Saddam
Hussein will not be the keystone for peace in that volatile region. This day
's news does not lessen the danger that the Bush doctrine of preemptive
strikes poses to international peace and stability.

In order to bring lasting stability to Iraq, that nation needs the help of
the entire world, not just America and her fighting friends.

As each day passes and as more American soldiers are killed and wounded in
Iraq, I become ever more convinced that the war in Iraq was the wrong war at
the wrong time in the wrong place for the wrong reasons. Contrary to the
President's rosy predictions - and the predictions of others in the Bush
Administration - the United States has not been universally greeted as a
liberator in Iraq. The peace - if one can use the term "peace" to describe
the chronic violence and instability that define Iraq today - the peace is
far from being won. Iraqi citizens may be glad that Saddam Hussein is no
longer in power, but they appear to be growing increasingly resentful that
the United States continues to rule their country at the point of a gun.

What a huge price we are now paying for the President's bullheaded rush to
invoke the unwise and unprecedented doctrine of preemption to invade Iraq,
an invasion without provocation, an invasion without the support of the
United Nations or the international community.

It would be tragic enough if the casualties of the Iraq war were confined to
the battlefield, but they are not. The casualties of this war will have
serious repercussions for generations to come. Truth is one casualty.
Despite the best efforts of the White House to contort the invasion of Iraq
into an extension of the war on terror, there was never a connection between
Saddam Hussein and September 11. Not a single Iraqi was among the 19
hijackers of those four planes. Despite dire warnings from the President,
Saddam Hussein had at his fingertips neither the means nor the materiel to
unleash deadly weapons of mass destruction on the world. Despite
presidential rhetoric to the contrary, Iraq did not pose a grave and
gathering menace to the security of the United States. The war in Iraq was
nothing less than a manufactured war. It was a war served up to a
deliberately misled and deluded American public to suit the neoconservative
political agenda of the Bush White House.

A lasting casualty is the international credibility and reputation of the
United States of America. We have squandered the good will that had rallied
to our side after the attacks of 9-11, attacks that struck just a few short
blocks from where we sit tonight. At the end of that fateful day, the world
was with us. The French newspaper "Le Monde" proclaimed, "We Are All
Americans." But we squandered that good will. We turned our sights on Iraq
and turned our back on the United Nations. As a result, in some corners of
the world, including some corners of Europe and Great Britain, our beloved
nation is now viewed as the world bully.

Finally, and most disheartening to me, Congress allowed the Constitution to
become a casualty of the Bush doctrine of preemptive strikes. Congress
allowed its Constitutional authority to declare war to fall victim to this
irresponsible strategy. Just a little more than a year ago, in October 2002,
the Senate obsequiously handed the President the Constitutional authority to
declare war. It failed to debate; it failed to question; it failed to live
up to the standards established by the Framers. Like a whipped dog, the
Senate put its tail between its legs and slunk away into the shadows, slunk
away from its responsibility. Congress - and I mean both houses - Congress
delegated its constitutional authority to the President, and effectively
washed its hands of the fate of Iraq. It is a dark and despicable mark on
the escutcheon of Congress.

The roots of this travesty can be traced directly back to the President's
doctrine of preemption, that cock-eyed notion that the United States can
pre-emptively attack any nation that for whatever reason may - may! - appear
to pose a threat in the future. Not only is the doctrine of pre-emption a
radical departure from the traditional concept of self-defense, but it is
also a destabilizing influence in world affairs. The Bush doctrine of
pre-emption is a dangerous precedent. The Bush doctrine of pre-emption is a
reckless policy. The rising tide of anti-Americanism across the globe is
directly attributable to the fear and distrust engendered by this Bush
doctrine of pre-emption.

Yet, too many Americans are willing - yes, even eager - to swallow the
Administration line on pre-emption without examining it, without questioning
it, without challenging it.

Thank God for courageous institutions - like this one - which are willing to
stand up to the tide of popular convention. I commend The Nation magazine
for filling this vacuum, and I urge you to continue in your mission, without
fear, without constraint, and with an unyielding commitment to truth.

Today, for better or worse, the United States has embroiled itself in the
future of Iraq. But that does not mean that we need to continue to be the
lone wolf in Iraq. Unfortunately, the Administration's latest edict to
freeze out French, German, Russian, and Canadian companies from Iraq gives
me little reason to hope that the President is even remotely interested in
internationalizing the political, economic, and security reconstruction
effort. As a result, the White House continues to feed the perception
throughout the world that Iraq's reconstruction is a spoil of war.
Reconstruction contracts, funded with $18.6 billion from the American
taxpayer, seemingly have become kickbacks to those countries which dared not
speak out - as Germany, France, Russia, and Canada did speak out - against a
policy of preemptive war.

Like all roads to peace in the Middle East, the path to stability in Iraq
may still face obstacles. We cannot precisely predict what those obstacles
will be. But we must demand accountability from the Bush White House. We
must continue to raise questions. We must continue to seek the truth. We
must continue to speak out against wrongheaded policies and dangerous
strategies.

I am reminded of the closing lines from Tennyson's Ulysses:

tho' We are not now that strength which in old days
Moved earth and heaven, that which we are, we are, -
One equal temper of heroic hearts,
Made weak by time and fate, but strong in will,
To strive, to seek, to find, and not to yield.
For my part, I will continue to speak out. I will continue to challenge, to
question, and never yield in defense of the Constitution, the United States
Senate, and the American people. For your part, I hope that The Nation
magazine will sail on, always serving as an advocate for the truth and an
antidote to the tide of imperialism that threatens to encompass our
government. Congratulations on your remarkable achievements.

  #3   Report Post  
Sandman
 
Posts: n/a
Default He was right then and he's right now

Pajama self-indulges:

Ah yes, Senator Byrd. Former Grand Kleagle of the Ku Klux Klan. Voted
against the Civil Rights Act 0f 1964 (like most of his democratc
collegues). He of the racist "White Ni__er" comments on sunday morning
talks shows just a few years back...


Ancient history. In case you hadn't noticed, Senator. Byrd has completely
changed since those far-off days.

A real paragon of virtue you got there, Sandi...


As he is today, "paragon of virtue" is exactly what Senator Byrd is.

And he's the guy you've chosen to spin Bush's foreign policy triumphs?


No spinning. Just one of many people telling the truth about Bush's
mendacious PR machine. And that's what really gets under the skin of
fundamentally dishonest spinning jackasses like you.


  #4   Report Post  
pyjamarama
 
Posts: n/a
Default He was right then and he's right now

"Sandman" wrote in message . ..
Pajama self-indulges:

Ah yes, Senator Byrd. Former Grand Kleagle of the Ku Klux Klan. Voted
against the Civil Rights Act 0f 1964 (like most of his democratc
collegues). He of the racist "White Ni__er" comments on sunday morning
talks shows just a few years back...


Ancient history. In case you hadn't noticed, Senator. Byrd has completely
changed since those far-off days.

A real paragon of virtue you got there, Sandi...


As he is today, "paragon of virtue" is exactly what Senator Byrd is.

And he's the guy you've chosen to spin Bush's foreign policy triumphs?


No spinning. Just one of many people telling the truth about Bush's
mendacious PR machine. And that's what really gets under the skin of
fundamentally dishonest spinning jackasses like you.


"Under my skin?" Au contraire, Sandi -- my party has controlled the
Senate and House for the last decade; has held the White House over
democrats by a two-to-one margin since 1968; has a commanding edge in
governors and state legislators; bucked every historical trend by
routing democrats in last year's mid-terms...

The economy is growing at a rate not seen since the Reagan
administration; productivity is at all-time high and inflation is near
all-time lows; Afghani's have been liberated, Iraqi's have been
liberated and Saddam is in Bush's custody.

Liberals haven't been relevant in American politics in over a
generation and Leftists have NEVER been relevant here...

No "fundamental dishonesty" here, Sandi...

Just the facts, ma'am.
  #5   Report Post  
dave weil
 
Posts: n/a
Default He was right then and he's right now

On 21 Dec 2003 06:47:07 -0800, (pyjamarama)
wrote:

The economy is growing at a rate not seen since the Reagan
administration;


I'd like to know where you guys are getting this stuff. Can you cite
figures? That doesn't sound like stuff like this:

"Despite last week’s encouraging news that the economy added jobs in
September for the first time since February, few forecasters expect
any significant growth in employment over the next six months. That
may be distressing to job seekers and current workers concerned about
their prospects, but economists believe the latest wave of economic
growth is sustainable even without the long-awaited surge in
employment".

MSNBC

The economy grew 3.3% last quarter.


Martin Crutsinger of the AP wrote this (in an otherwise rosy report):

"The better-than-expected GDP report failed to lift spirits on Wall
Street, where stocks extended their slide. The Dow Jones industrial
average fell 30.88 points to close at 9,313.08, wrapping up a week in
which the Dow lost 3.4 percent, its worst weekly performance in six
months.

Many analysts said based on the GDP revisions and reports on activity
in July and August, they now believe the economy is growing at a rate
in excess of 5 percent in the current quarter and should be able to
maintain growth above 4 percent in the final three months of the year.

That forecast, if it proves to be correct, would represent the
strongest back-to-back growth rates since the last two quarters of
1999, a period in which the economy was headed toward a record 10-year
long economic expansion".

So, how does the last statement jibe with your (and Mr. McKelvy's
statement about a "rate not seen since Reagan")?

From Clinton's site:

"4.2 Percent GDP Growth In 1999. GDP growth in the fourth quarter was
5.8 percent. This brings the growth rate for the four quarters of 1999
to 4.2 percent -- the fourth year in a row of 4+ percent growth for
the first time since the early 1960s. Since the beginning of the
Clinton Administration, the economy has grown at a 3.9 percent annual
rate -- compared to 1.7 percent under President Bush and 2.8 percent
during the Reagan-Bush years".

So, 4th quarter growth in 1999 was 5.8%. Ooops. You lose.

Or maybe you can back up your statement with actual figures.

Sounds like someone said something on FoxNews and it's being repeated
as "news".



  #6   Report Post  
dave weil
 
Posts: n/a
Default He was right then and he's right now

On Sun, 21 Dec 2003 10:46:21 -0600, dave weil
wrote:

So, how does the last statement jibe with your (and Mr. McKelvy's
statement about a "rate not seen since Reagan")?


Misplaced parenthesis.

Should be:

So, how does the last statement jibe with your (and Mr. McKelvy's)
statement about a "rate not seen since Reagan"?


  #7   Report Post  
Sandman
 
Posts: n/a
Default He was right then and he's right now


"dave weil" wrote in message
...
On 21 Dec 2003 06:47:07 -0800, (pyjamarama)
wrote:

The economy is growing at a rate not seen since the Reagan
administration;


I'd like to know where you guys are getting this stuff. Can you cite
figures? That doesn't sound like stuff like this:

"Despite last week's encouraging news that the economy added jobs in
September for the first time since February, few forecasters expect
any significant growth in employment over the next six months. That
may be distressing to job seekers and current workers concerned about
their prospects, but economists believe the latest wave of economic
growth is sustainable even without the long-awaited surge in
employment".

MSNBC

The economy grew 3.3% last quarter.


Martin Crutsinger of the AP wrote this (in an otherwise rosy report):

"The better-than-expected GDP report failed to lift spirits on Wall
Street, where stocks extended their slide. The Dow Jones industrial
average fell 30.88 points to close at 9,313.08, wrapping up a week in
which the Dow lost 3.4 percent, its worst weekly performance in six
months.

Many analysts said based on the GDP revisions and reports on activity
in July and August, they now believe the economy is growing at a rate
in excess of 5 percent in the current quarter and should be able to
maintain growth above 4 percent in the final three months of the year.

That forecast, if it proves to be correct, would represent the
strongest back-to-back growth rates since the last two quarters of
1999, a period in which the economy was headed toward a record 10-year
long economic expansion".

So, how does the last statement jibe with your (and Mr. McKelvy's
statement about a "rate not seen since Reagan")?

From Clinton's site:

"4.2 Percent GDP Growth In 1999. GDP growth in the fourth quarter was
5.8 percent. This brings the growth rate for the four quarters of 1999
to 4.2 percent -- the fourth year in a row of 4+ percent growth for
the first time since the early 1960s. Since the beginning of the
Clinton Administration, the economy has grown at a 3.9 percent annual
rate -- compared to 1.7 percent under President Bush and 2.8 percent
during the Reagan-Bush years".

So, 4th quarter growth in 1999 was 5.8%. Ooops. You lose.

Or maybe you can back up your statement with actual figures.

Sounds like someone said something on FoxNews and it's being repeated
as "news".


Like everything they say, it all sounds like Faux News revisited, doesn't
it?


  #8   Report Post  
pyjamarama
 
Posts: n/a
Default He was right then and he's right now

dave weil wrote in message . ..
On 21 Dec 2003 06:47:07 -0800, (pyjamarama)
wrote:

The economy is growing at a rate not seen since the Reagan
administration;


I'd like to know where you guys are getting this stuff. Can you cite
figures?


Will this do?

U.S. economic growth revised up

GDP grew at a blistering 8.2 percent pace in the third quarter, faster
than originally thought.
November 25, 2003: 10:47 AM EST


NEW YORK (CNN/Money) - The U.S. economy grew in the third quarter at
an even faster pace than originally reported, the government said
Tuesday.

Gross domestic product (GDP), the broadest measure of economic
activity, grew at an 8.2 percent annual rate, the fastest pace since
the first quarter of 1984, after growing at a 3.3 percent pace in the
second quarter, the Commerce Department reported.

Originally, GDP growth was reported at a 7.2 percent annual rate.
Economists, on average, expected the reported growth rate to be
revised to 7.6 percent, according to Briefing.com.

The report had little positive impact on Wall Street, which had widely
expected the strong report. U.S. stock prices were little changed in
early trading, while Treasury bond prices rose.

One key reason for the large upward revision in third-quarter GDP was
a re-evaluation of the rate of change in business inventories in the
quarter. Originally, the government said businesses cut inventories by
$35.8 billion in the quarter, but that figure was trimmed to $14.1
billion in the latest report.

The lower rate of shelf-clearing in the third quarter could mean the
economy will get less of a boost from re-stocking in the fourth
quarter than some economists had hoped.

"The bottom line is that Wall Street will have to shave off some of
its overly exuberant fourth-quarter real GDP estimates," said Anthony
Chan, chief economist at Banc One Investment Advisors.

Third-quarter growth was also boosted by a 6.4 percent pace of growth
in consumer spending, the strongest pace since the third quarter of
1997, after growing at a 3.8 percent rate in the second quarter.
Consumer spending growth was originally reported as 6.6 percent.

Much of the strength in consumer spending in the third quarter was due
to a 26.5 percent rate of growth in the sale of durable goods, items
meant to last three years or more, and much of that came in sales of
motor vehicles and parts.

It was the strongest performance for durable goods sales since the
fourth quarter of 2001, when sales jumped at a 33.6 percent pace. Auto
sales have slowed down during the fourth quarter, however.

Consumers got a boost in the late summer and early fall from child tax
credit rebate checks and from the tail end of a boom in mortgage
refinancing. Cash-out refinancing cut homeowners' monthly payments and
put more cash in their pockets, and parents got an extra cash infusion
from rebate checks.

Those effects have mostly dissipated in the fourth quarter, however,
leading most economists to believe consumer spending will slow.

Unsurprisingly, home sales soared in the third quarter, with
residential investment up at a 22.7 percent annual pace, the strongest
pace since the first quarter of 1992, compared with 6.6 percent in the
second quarter.

Nonresidential fixed investment rose at a 14 percent rate, the fastest
pace since the first quarter of 2000, following the second quarter's
7.3 percent pace, a sign of further strength in business spending.

Investment in equipment and software rose 18.4 percent, the fastest
pace since the fourth quarter of 1998 and more than double the prior
quarter's pace of 8.3 percent.
  #9   Report Post  
Michael McKelvy
 
Posts: n/a
Default He was right then and he's right now


"Sandman" wrote in message
...

"dave weil" wrote in message
...
On 21 Dec 2003 06:47:07 -0800, (pyjamarama)
wrote:

The economy is growing at a rate not seen since the Reagan
administration;


I'd like to know where you guys are getting this stuff. Can you cite
figures? That doesn't sound like stuff like this:

"Despite last week's encouraging news that the economy added jobs in
September for the first time since February, few forecasters expect
any significant growth in employment over the next six months. That
may be distressing to job seekers and current workers concerned about
their prospects, but economists believe the latest wave of economic
growth is sustainable even without the long-awaited surge in
employment".

MSNBC

The economy grew 3.3% last quarter.


Martin Crutsinger of the AP wrote this (in an otherwise rosy report):

"The better-than-expected GDP report failed to lift spirits on Wall
Street, where stocks extended their slide. The Dow Jones industrial
average fell 30.88 points to close at 9,313.08, wrapping up a week in
which the Dow lost 3.4 percent, its worst weekly performance in six
months.

Many analysts said based on the GDP revisions and reports on activity
in July and August, they now believe the economy is growing at a rate
in excess of 5 percent in the current quarter and should be able to
maintain growth above 4 percent in the final three months of the year.

That forecast, if it proves to be correct, would represent the
strongest back-to-back growth rates since the last two quarters of
1999, a period in which the economy was headed toward a record 10-year
long economic expansion".

So, how does the last statement jibe with your (and Mr. McKelvy's
statement about a "rate not seen since Reagan")?

From Clinton's site:

"4.2 Percent GDP Growth In 1999. GDP growth in the fourth quarter was
5.8 percent. This brings the growth rate for the four quarters of 1999
to 4.2 percent -- the fourth year in a row of 4+ percent growth for
the first time since the early 1960s. Since the beginning of the
Clinton Administration, the economy has grown at a 3.9 percent annual
rate -- compared to 1.7 percent under President Bush and 2.8 percent
during the Reagan-Bush years".

So, 4th quarter growth in 1999 was 5.8%. Ooops. You lose.

Or maybe you can back up your statement with actual figures.

Sounds like someone said something on FoxNews and it's being repeated
as "news".


Like everything they say, it all sounds like Faux News revisited, doesn't
it?


No, it sounds like you only watch and listen to the lesftist version of
every news story. You can go to the AP's web site and get what they are
reporting or you can go to the Treasury web site, or you can go to any
number of relaible web sites and get the news. It's not a right wing
conspiracy to keep you in the dark.

It may be a left wing consiracy to keep you ignorant but that's another
issue.


  #10   Report Post  
dave weil
 
Posts: n/a
Default He was right then and he's right now

On 21 Dec 2003 17:39:05 -0800, (pyjamarama)
wrote:

dave weil wrote in message . ..
On 21 Dec 2003 06:47:07 -0800,
(pyjamarama)
wrote:

The economy is growing at a rate not seen since the Reagan
administration;


I'd like to know where you guys are getting this stuff. Can you cite
figures?


Will this do?


Thank you for the cite. See below:

U.S. economic growth revised up

GDP grew at a blistering 8.2 percent pace in the third quarter, faster
than originally thought.
November 25, 2003: 10:47 AM EST


NEW YORK (CNN/Money) - The U.S. economy grew in the third quarter at
an even faster pace than originally reported, the government said
Tuesday.

Gross domestic product (GDP), the broadest measure of economic
activity, grew at an 8.2 percent annual rate, the fastest pace since
the first quarter of 1984, after growing at a 3.3 percent pace in the
second quarter, the Commerce Department reported.

Originally, GDP growth was reported at a 7.2 percent annual rate.
Economists, on average, expected the reported growth rate to be
revised to 7.6 percent, according to Briefing.com.

The report had little positive impact on Wall Street, which had widely
expected the strong report. U.S. stock prices were little changed in
early trading, while Treasury bond prices rose.

One key reason for the large upward revision in third-quarter GDP was
a re-evaluation of the rate of change in business inventories in the
quarter. Originally, the government said businesses cut inventories by
$35.8 billion in the quarter, but that figure was trimmed to $14.1
billion in the latest report.


"The Bureau of Economic Analysis plans to release the results of its
12th comprehensive (or benchmark) revision of the national income and
product accounts (NIPAs) on December 10, 2003. An
article in the June 2003 issue of the Survey of Current Business
discussed the changes in definitions and concepts that will be
implemented in the revision; an article in the August 2003 issue
described changes in presentation, including new and redesigned
tables; and an article in the September 2003 issue described changes
in statistical methods. Information is available on BEA's Web site":

www.bea.gov/bea/dn/2003benchmark/CR2003.htm

Soooo, apparently there have been some changes in the reporting...

It's like an episode of West Wing. You know, the one where the Demos
have just found out that the GAO wants to revise the definitions of
"poor" from an income of $16,000 to $18,000 for a family of three. The
Bartlet Administration is taken aback.

(rough transcript of the show)

Toby Ziegler - "Are you tellling me that there are now 2,000,000 more
poor people"?

Sam Seaborn - "Well...yah".

TZ - "Wouldn't it be better for re-election if we didn't have to say
that there were 2,000,000 more poor people"?

SS - "Well, it would be better for re-election if there actually
*weren't* actually 2,000,000 more poor people".

The lower rate of shelf-clearing in the third quarter could mean the
economy will get less of a boost from re-stocking in the fourth
quarter than some economists had hoped.

"The bottom line is that Wall Street will have to shave off some of
its overly exuberant fourth-quarter real GDP estimates," said Anthony
Chan, chief economist at Banc One Investment Advisors.

Third-quarter growth was also boosted by a 6.4 percent pace of growth
in consumer spending, the strongest pace since the third quarter of
1997, after growing at a 3.8 percent rate in the second quarter.
Consumer spending growth was originally reported as 6.6 percent.

Much of the strength in consumer spending in the third quarter was due
to a 26.5 percent rate of growth in the sale of durable goods, items
meant to last three years or more, and much of that came in sales of
motor vehicles and parts.

It was the strongest performance for durable goods sales since the
fourth quarter of 2001, when sales jumped at a 33.6 percent pace. Auto
sales have slowed down during the fourth quarter, however.

Consumers got a boost in the late summer and early fall from child tax
credit rebate checks and from the tail end of a boom in mortgage
refinancing. Cash-out refinancing cut homeowners' monthly payments and
put more cash in their pockets, and parents got an extra cash infusion
from rebate checks.

Those effects have mostly dissipated in the fourth quarter, however,
leading most economists to believe consumer spending will slow.

Unsurprisingly, home sales soared in the third quarter, with
residential investment up at a 22.7 percent annual pace, the strongest
pace since the first quarter of 1992, compared with 6.6 percent in the
second quarter.

Nonresidential fixed investment rose at a 14 percent rate, the fastest
pace since the first quarter of 2000, following the second quarter's
7.3 percent pace, a sign of further strength in business spending.

Investment in equipment and software rose 18.4 percent, the fastest
pace since the fourth quarter of 1998 and more than double the prior
quarter's pace of 8.3 percent.


Thank you for providing this cite. I would like to note, however, that
the BEA hasn't actually *released* the "final" figures for the
Quarter. I know it's a little technicality and all that, but you'll
have to wait until the 23rd for that.

http://www.bea.doc.gov/bea/dn1.htm

(Estimates for the third quarter of 2003 on the revised basis will be
released at 8:30 a.m. on December 23.)

Hopefully, we'll find that all is as CNN claims it will be. Hopefully,
we'll find that the estimates are correct. and yet, it seems like the
goalposts are being moved, doesn't it?

Thanks again for the cite.


  #11   Report Post  
Snubis
 
Posts: n/a
Default He was right then and he's right now

"Sandman" wrote in message . ..

Pajama self-indulges:

Ah yes, Senator Byrd. Former Grand Kleagle of the Ku Klux Klan.

Voted
against the Civil Rights Act 0f 1964 (like most of his democratc
collegues). He of the racist "White Ni__er" comments on sunday

morning
talks shows just a few years back...


Ancient history. In case you hadn't noticed, Senator. Byrd has completely
changed since those far-off days.


Yet your ilk had no problem digging up 'ancient history' and smearing
Trent Lott as a racist when he made comments about Strom Thurmond.

BTW, the "white ******" comment isn't ancient history. It's only a few
years old.
  #12   Report Post  
Sockpuppet Yustabe
 
Posts: n/a
Default He was right then and he's right now


"Snubis" wrote in message
m...
"Sandman" wrote in message

. ..

Pajama self-indulges:

Ah yes, Senator Byrd. Former Grand Kleagle of the Ku Klux Klan.

Voted
against the Civil Rights Act 0f 1964 (like most of his democratc
collegues). He of the racist "White Ni__er" comments on sunday

morning
talks shows just a few years back...


Ancient history. In case you hadn't noticed, Senator. Byrd has

completely
changed since those far-off days.


Yet your ilk had no problem digging up 'ancient history' and smearing
Trent Lott as a racist when he made comments about Strom Thurmond.

BTW, the "white ******" comment isn't ancient history. It's only a few
years old.


Have all of you heard Hillary's Mahatma Gandhi gaffe???




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