CONCERNS OVER ECONOMY PERSIST - Mitch Perry

08/18/04

Concerns over economy persist Recovery touted by Bush sputters in recent weeks

As President Bush continues to stump on the campaign trail, he frequently invokes the phrase, that the economy has “turned the corner,� but the recovery he's counting on to help drive him to re-election Nov. 2 has hit some potholes lately. In the past few weeks, job creation has stalled, oil prices have soared to record heights, and the overall economic recovery has slowed. Groups that track poverty and health insurance data say next week's annual Census Bureau figures are likely to show more Americans in poverty and without health insurance. There has been good news: The U.S. economy has generated more than 1.2 million jobs since the end of 2003, more than in any seven-month period in nearly four years. A recent drop in mortgage interest rates is giving the housing market a boost. And Bush got a ray of sunshine yesterday, when reports showed upbeat news on inflation, housing and manufacturing. But one economist says that voters say the economy isn’t getting better, because, as far as they’re concerned, it’s NOT. In the current issue of the New Republic Magazine, Yale Political Science Professor Jacob Hacker writes about economic anxiety….This is the 2nd of our 2 part interview with Professor Hacker (roll tape#1 o.q.�the new family structures�) That was Yale Political Science Professor Jacob Hacker, whose article in the New Republic is entitled, “False Positive�, which examines why voters remain so unhappy about the economy -even as economic numbers - until recently , had been improving. He’s also writing a book on economic insecurity, entitled, “The Great Risk Shift�.

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