Saturday, August 06, 2005

Good evening - what a great day! Low humidity and temperatures in the low 80's. This what summer is all about -

Just a short note on the economy tonight - it seems that most people have the idea that the economy is hurting because the cost of fuel is high. The increased price of fuel, in relative terms, isn't much compared to the total amount of dollars that we spend on houses, cars, travel and miscellaneous items that we just can't seem to get by without. It might cost us another three or four dollars per week for the average car owner. We don't think twice about spending that much on one drink or a pack of cigarettes so what is the big deal about gasoline?

The economy is doing just great, by the way, with the the budget deficit down and the trade deficit at a yearly low, 207,000 new jobs created this month and tax revenues running 15% ahead of last year. What is also important is that a majority of the income is from the top 20% of the tax payers in the nation, and of that amount, 40% is from corporation income. What do you meant the economy is hurting.

Earnings are up again last month as they have been for the last 26 months. Housing starts are at a all time high. Unemployment is lower than at anytime during the bubble years of President Clinton. And don't forget, when the bubble burst in 2000, the economy lost over four trillion dollars. Since then, George Bush has brought the economy back and put it on solid ground.

We can rest assured that what we have saved will be there when we want it, at least until the next election in 2008. If the Democrats win, all bets are off. Everything that you have will be up for grabs.

You can run but you can't hide from the tax man -

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