President Predicts Jobs Growth
By George Anderson
The Bush administration is looking for the economy to create 2.6 million new payroll jobs by the end of 2004, according to the annual Economic Report of the President released
by the White House yesterday.
Previous reports issued by the White House also predicted job growth, which failed to materialize. Last year the Bush administration predicted 1.7 new jobs would be created.
According to the Labor Department, there were 53,000 payroll jobs lost in 2003.
N. Gregory Mankiw, chairman of the White House Council of Economic Advisers, told a press conference, “I know there will be jobs in the future because I know this is a vibrant
economy, a dynamic economy.”
Mr. Mankiw also echoed sentiments earlier expressed by Fed chairman, Alan Greenspan, when he said that outsourcing of jobs overseas was an indication of the nation’s economic
strength and should not be a cause for concern.
Moderator’s Comment: Do you share the views of the Bush administration on the prospects
for the economy? Have the administration’s policies been good for those engaged in consumer products manufacturing and/or retailing?
We’ve even heard, self-described conservatives, grousing lately about the number of jobs being exported overseas. Will the promise of 2.6 million new jobs
be the deciding factor in the next election for the current President as “read my lips” was to his father’s reelection bid?
According to the leader in the Democratic presidential campaign, John Kerry, the latest report provides “empty promises and false hope for middle-class
families.” – George
Anderson – Moderator