STOIC VIEW ON ECONOMIC NEWS: Seems today that many are up in arms over the news that the Bush economy added another 32,000 jobs in July. No, they are not excited that the Bush recovery continues to roll; they lament that it is not continuing to accelerate at a rate unmatched since the Reagan Presidency.

Sure, the job growth was not as high as expected. And sure, the Dow dropped a bit today. But the Dow dropped exactly because the job growth was not as high as expected. This Dow dip is nothing more than a one day fall.

President Bush inherited a Clinton/Gore recession - yes, he did inherit it, since the economy was dropping in 2000, before President Bush was elected. President Bush' tax policy has created consistent growth since 2002 despite a September 11th attack that has transformed our country and could have very well put us in a depression.

July growth is slower than expected. Then again, it's tough to do better than the record growth forever. The point here is that the economy is still improving. The sky is not falling.

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