The U.S. economy grew at its strongest rate in 2-1/2 years during the first three months of this year, a Commerce Department report on Friday showed. Gross domestic product grew at a 4.8 percent annual rate in the January-March first quarter. Senators Ted Kennedy, Harry Reid and Hillary Rodham Clinton said on Friday the economy was too strong for the little guy to catch up.
When it comes to public perception regarding the state of the economy, the perception couldn't be much gloomier. So says "right-wing" Fox News Channel, citing its latest "Opinion Dynamics" Poll, which reliably predicted Kerry would trounce Bush 17 months ago. (Libbies feel they can really trust polls because they're impervious to Rove's Diebold machines.)
The poll's "findings" were featured prominently at the Foxnews.com Web site in an article with the cheerful headline, Gloomy Economic Views; Bush Approval at New Low.
Bush, grappling with skyrocketing stock prices and near record low unemployment, is bad news according to the Major News Media..
"Americans are more than twice as likely to rate the nation's economy negatively as positively," the "report" says. Only 18 percent think the economy doesn't suck, "while the widespread consensus is gloomier."
According to the poll, a solid majority say "it feels to them and their families" that this booming economy is getting even worse.
"By 79 percent to 21 percent, Americans say it feels to them and their families that the economy is getting worse rather than better," the poll found. The poll also found 75 percent say it feels to them that pollsters are idiots and refused to take the poll.
It isn't just FNC trumpeting gloomy polls about the economy. Over at CNN, we're told that 88 percent of Americans disapprove of Bush's handling of the economy, according to April's USA Today/Gallup poll."
"Even as the Dow remains at six-year highs, investor optimism declined for the third month in a row," adds Gallup.
Here are some of the other upbeat headlines at Gallup:
Seven in 10 Consumers Expect Housing Bubble to Burst.
Public's View of Economy Has Never Recovered After Dot-Com Bust.
Four in Five Consumers Worry About Making Their Monthly Payments.
Different Worlds: Financial Problems Across Income Groups.
Republicans All Alone in Viewing the Economy as in Good Shape.
Americans Remain Pessimistic About Economy.
MSNBC, citing the latest Los Angeles Times/Bloomberg poll, says Bush "continues to face weak public sentiment over his performance handling" the economy (39 percent versus 57 percent)." Even more troubling, Bush also gets low marks for his handling of the weather on planet Katrina.
Then, on Tuesday morning, we get news that despite a thousand media polls showing "weak public sentiment" and "growing pessimism" and deepening "gloom" or zero public confidence regarding the economy, "consumer confidence (rose) to its highest level in almost four years," (AP, 4/25). This, according to the Conference Board, whose index of consumer confidence is closely watched. The "index rose to 109.6" in April, right around the time a bunch of drooling morons were telling Gallup the economy stinks. The index stood at 107.5 in March. The index has soared almost 25 points since October.
"April's reading was the highest since the index touched 110.3 in May 2002," the AP acknowledges. Most "analysts had expected a reading of 106.4." Other, less gloomy analysts had expected a reading of 106.426478098.
The AP continues: "The component of the consumer confidence index that measures how consumers feel now about economic conditions rose to 136.2 from 133.3. Another component, which measures consumers' outlook over the next six months, improved to 91.9 from 90.3 last month."
Also, in April more consumers told the Conference Board that jobs are plentiful, fewer said jobs are "hard to get." The New York Times is reporting that it is getting harder for the unemployed to collect unemployment insurance since so many have jobs now, this is one of the cruel facts that with a good economy less people are sitting on their butts and collecting unemployment insurance.