The Three Rs of Election Year Economics: Recovery, Rhetoric, And 'Rithmetic (Financial Views‪)‬

Commentary In the first quarter of 2004 the economic picture continued to brighten. There were signs that the resurgence in business activity and the stock market recovery might be sustainable, at least over the near term. Investors who took long-term views and waited out the recovery welcomed this turnaround, but many others were left wondering where they had missed the boat. In particular, nagging fears of a weakening dollar, the record deficit, spiraling health care costs, continued world unrest, and weak employment growth placed a damper on widespread enthusiasm. This feeling was prevalent among the unemployed and filtered over to consumers who lost some of their enthusiasm. Despite this undercurrent, the economic recovery is showing signs of staying on track, with the Administration putting on its best face during this critical pre-election period.