Word: dowe
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...donations began in the 1970s as a way for parties to finance encouraging participation in the political process. But parties now spend the cash largely on attack ads that increase voter cynicism and provide little useful information about candidates. Even worse, many large donors such as Phillip Morris and Dow Chemical give to both political parties, a practice that looks more like out-and-out bribery than a principled political statement...
...marking their 10th straight week above 400,000. In recent weeks, cash-strapped states and cities across the country have announced new taxes and painful spending cuts for police, schools and other government services. And despite the war's end and the gradual restoration of order in Baghdad, the Dow has not spiked as some had hoped. Though there are flecks of good news, such as an unexpected rise in purchases of big-ticket items, the grumpy economy is still Bush's greatest vulnerability. Here is what the White House is doing to lower the risk...
...trying to end the tax on dividends, the most politically unpopular element of his package. His advisers also believe that elimination of this so-called double taxation can provide a quick "optimism boost" to the stock markets. White House officials point to forecasts of a quick rise in the Dow of between 5% and 20% if the measure is passed. "There is no more important measure of consumer confidence than the markets," says a senior adviser. If the markets go up, in other words, so do the odds of a second Bush term...
...Bush may be gathering a bit of a tailwind. Corporate earnings last quarter beat expectations for the first time in years. The Dow is up 10% in six weeks. Consumer confidence has risen. Bush's position is that while people have cause for concern, things aren't so bad, considering. "We've been racked with inflation, scandal, war and emergency," he said. "Yet we're still growing." All of that is true - OK, except for the part about inflation, which is at a four-decade low. Such economic misspeak underscores the difficulty Bush may have preaching on a subject where...
...Dow surged 9% the week before the war--a visible sign of economic hope. But the rally stalled last week. With the war winding down, investors are focusing on economic fundamentals that show a mixed picture. With the bursting of the tech bubble fresh in mind, nobody expects the Dow to return to its January 2000 highs anytime soon. But it should hold recent gains and move slowly higher as consumers come back and earnings improve...