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November 6, 2007
Moonbat Propagandists Wish Away Boom
Despite his flaws, W has presided over a booming economy. Investor's Business Daily sums up the latest good news:
Friday's employment report, showing a much-higher-than-expected increase of 166,000 in nonfarm payroll jobs, was only the latest in a spate of remarkable reports showing the economy's stunning resilience.
Earlier this week, we discovered that, contrary to fears and forecasts of much slower growth in the third quarter, the U.S. economy in fact expanded at a 3.9% rate — even in the midst of a vicious housing downturn, soaring mortgage delinquencies and a credit crunch.
Inflation showed its lowest annual rise since the 1960s, despite oil touching $96 a barrel. Employment costs, rising in the third quarter at 3.8% annual rate, are well under control. The broad stock market, despite an up and down year, has mostly been up — punching repeatedly through its previous highs.
Just three weeks ago, the Office of Management and Budget reported that the budget deficit fell to $163 billion, or 1.2% of GDP, its lowest level in five years. Meanwhile, even the big, bad trade deficit has begun shrinking, as the weak dollar sets off a U.S. export boom.
The current boom is nothing new:
[E]mployment has expanded 50 months in a row, with more than 8.5 million jobs added during that time. Since 2003, when the third round of Bush tax cuts took effect, real GDP has grown nearly $1.5 trillion — more than the entire economies of Canada, Mexico or South Korea. Since Bush took office, per capita GDP has increased 12.7%, or $3,800 per person, after taxes and inflation.
The economic boom, like our improving fortunes in Iraq, would be a political burden for Democrats, if not for their control of the mainstream media. Fortunately for them, professional liars like Matt Lauer have been using their access to the masses' living-rooms to promote the unsupported notion that we are going into a recession.
Sadly, this misinformation campaign seems to be working:
A CNN/Opinion Research poll taken in mid-October found 46% of Americans think the U.S. economy's in recession. A fluke, you say? Another poll by the American Research Group released Oct. 22 found 40% think we're in a recession, up from 25% a month before.
"A year before voting, a discontented nation" is how a USA Today headline summed it up Friday. Discontented? Why not, after a nonstop media barrage playing up all that's bad and playing down all that's good.
This happens every so often — usually when a Republican is president, and the left-leaning media want to dress things down a bit. It happened with President Reagan in 1984; with President Bush in 1992 ("the worst downturn since the Depression," we were falsely told); and now under President Bush II.
People aren't stupid. But if they're told over and over things are bad and they should feel awful, it can't help but rub off. This time has to be one of the greatest examples of what psychologists call cognitive dissonance — seeing one thing, believing another.
Economic performance is heavily impacted by people's perception of it. Wouldn't it be ironic if the Dems take the White House, and are immediately faced with a recession created by their own insidious propaganda?
Hat tip: NewsBusters, on a tip from Cheetah.
Posted by Van Helsing at November 6, 2007 7:57 AM
Comments
Wouldn't it be ironic if the Dems take the White House, and are immediately faced with a recession created by their own insidious propaganda?
Won't happen, because as soon as a Democrat gets into office, it will suddenly be all economic happiness and light according to the leftstream propaganda machine. What probably will happen is that they will create another enormous stock market bubble, like they did during the glorious Clinton years, which will then pop as soon as a Republican gets into office, like it did just after Bush got in.
The degree of dishonesty and partisanship in the leftstream media and the utter transparentness of it all simply astounds me.
Posted by: ent at November 6, 2007 10:35 AM
