Doubters take note:
At last the tax cuts are producing new jobs! (in Bangalore)
I'll have to admit that Bush and his economists were right. Those huge
tax givebacks for the wealthy -- the ones my kids will be paying for until
they die -- are working just fine!
(from the L.A. Times)
Bush Supports Shift of Jobs Overseas
The loss of work to other countries, while painful in the short term,
will enrich the economy eventually, his report to Congress says.
By Warren Vieth and Edwin Chen
Times Staff Writers
February 10, 2004
WASHINGTON — The movement of American factory jobs and white-collar
work to other countries is part of a positive transformation that will enrich
the U.S. economy over time, even if it causes short-term pain and dislocation,
the Bush administration said Monday.
The embrace of foreign outsourcing, an accelerating trend that has contributed
to U.S. job losses in recent years and has become an issue in the 2004 elections,
is contained in the president's annual report to Congress on the health of the economy.
"Outsourcing is just a new way of doing international trade," said N. Gregory Mankiw,
chairman of Bush's Council of Economic Advisors, which prepared the report.
"More things are tradable than were tradable in the past. And that's a good thing."
The report, which predicts that the nation will reverse a three-year employment
slide by creating 2.6 million jobs in 2004, is part of a weeklong effort by the administration
to highlight signs that the recovery is picking up speed. Bush's economic stewardship has
become a central issue in the presidential campaign, and the White House is eager to
demonstrate that his policies are producing results.
[LW: And exactly where on the planet will those 2.6 million jobs be located? Hmmmm?]