TITLE

TAX CUTS, JOBS AND THE ELECTION

AUTHOR(S)
Dobbs, Lou
PUB. DATE
November 2003
SOURCE
Money;Nov2003, Vol. 32 Issue 12, p71
SOURCE TYPE
Periodical
DOC. TYPE
Editorial
ABSTRACT
The article discusses how labor market woes could affect the U.S. presidential race, in light of strong economic growth and unemployment. The question is already consuming the political strategists of President George W. Bush and candidates for the Democratic presidential nomination: Is our economic recovery strong enough to create an adequate number of jobs to re-elect the incumbent? James Glassman, senior economist at J.P. Morgan, says that the tax cuts have definitely boosted consumer spending. Bill Dudley, chief economist at Goldman Sachs, credits the tax cuts for the gains in consumer income, but notes that so far they have not helped in the creation of jobs. And at this stage in any economic recovery, that is both curious and frustrating. Both economists agree that job creation will be the crucial economic factor in the presidential election. As for how the economy and the stimulus package will affect Bush's bid for re-election, Dudley reiterates that jobs will be the crucial issue. Glassman disagrees: he believes the economy will support the President's re-election bid.
ACCESSION #
11190335

 

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