The economic case for re-electing the president

Tomorrow, the government will release the latest employment figures. Here’s James Glassman’s prediction: “August showed a gain of 144,000 jobs, but, because of the hurricanes, the increase could be smaller for September. But there should be a dramatic upward revision for past months as the Bureau of Labor Statistics reconciles the payroll survey, which shows a net loss of about 800,000 jobs during Bush’s term, with the household survey, which shows a gain of 2 million jobs.”
Looking at the bigger picture, Glassman finds that the economic case for re-electing the president is strong. For example, he reminds us that “last week, the final figures for Gross Domestic Product in the second quarter were announced. GDP, the nation’s total economic output, grew nearly 5 percent for the year. That’s greater than in any 12-month period during the Clinton administration. Personal income is up 5 percent in the past year, and business spending is strong. Inflation is tame, and interest rates are low. Compare the United States with Kerry’s paragons abroad. Unemployment in France is 9.9 percent; in Germany, 10.6 percent.”
Let’s hope that President Bush is able effectively to use these numbers, and the other numbers Glassman cites, in his two remaining debates with Senator Kerry.


Books to read from Power Line