Economy hums along, mainstream media is silent
There were two economic reports today on the employment situation which the GOP should (but, if history is any guide they won't) trumpet the benefits of the Bush tax cuts and the risks to the economy of a Democrat takeover of Congress. In particular, the Labor Department reported that 470,000 new non-farm employees were hired from August to October. And along with that goes the news that the unemployment rate has dropped to a 5-year low of 4.4%. Other very recent reports showed that workers' wages made substantial gains recently. As Don Boudreaux said in a letter which I posted earlier today, I don't encourage looking at economic reports over a very short period of time. However, the economy has been doing tremendously well for several years now. But because of the mainstream media's intense dislike of George Bush, they don't report good news which they would be plastering all over their headlines or lead stories if a Democrat were President. The Republicans need to emphasize the benefits that GOP control of Congress has brought to tax policy. Iraq is a massive issue, but given that people weigh their economic conditions very strongly when voting, and given how close many elections are likely to be, changing the minds of a few marginal voters could be the difference.
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