The U.S. economy around Bush's corner

By Farhad Manjoo

Published August 27, 2004 9:08PM (EDT)

The Commerce Department announced today that the U.S. economy grew by only 2.8 percent between April and June, a significant slowdown from the rate of growth during the first three months of the year. On the eve of a Republican Convention at which President Bush is likely to extol the virtues of his tax cuts, the report offers yet another sign that whatever lies around the corner that Bush keeps insisting the nation is turning probably isn't a surge of prosperity.

As a Kerry campaign spokesman noted today, Bush will instead likely find himself relegated to a rather exclusive corner of U.S. economic history -- when he becomes the first president since Herbert Hoover to close out a term in office with a net job-loss record.

Farhad Manjoo

Farhad Manjoo is a Salon staff writer and the author of True Enough: Learning to Live in a Post-Fact Society.

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