Monday, December 05, 2005

Bush and Greenspan, Different views for the Economy

President Bush exclaimed that the Economy was looking better than it has been in the past few years. This was cited for the latest job creation and unemployment figures released earlier in the day. The President had a different view from Federal Reserve Chairman Alan Greenspan, who said hours earlier that budget position will worsen in the coming years dramatically. Greenspan said that the rising costs of medical care, will place a burden on the budget. Bush declared that the country's economy continues to gain strength and momentum, "thanks to good old-fashioned American hard work." 215,000 jobs were added in the month of November, and the unemployment remained at 5 percent. Why is our president saying one thing and the Federal Reserve Chairman claiming the complete opposite? I understand that people have different views and see things differently but when important people are informing the U.S. about the economy shouldn't we get the same answer instead of making us wonder if they are telling us the truth or not?

~Jessica Hutchison~

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