ReNews -- Remodelors Council News - 11/10/2004 (Plain Text Version)Doug Sutton, Sr. CGR, CAPS View Graphical Version | Subscribe to NAHB Publications | Email our Editor... In this issue: Eye on the Economy: Republican Victories Remove Key Uncertainties From the Economic OutlookThe victory by George W. Bush in last week’s presidential election, along with achievement of stronger Republican majorities in both the House and the Senate, are consistent with the assumptions behind NAHB’s baseline (most probable) forecasts for housing and the economy. That means we don’t have to change anything. In comparative terms, the Republican sweep means lower taxes (including lower marginal income tax rates on many small businesses), lower nondefense discretionary spending by the federal government and less government regulation (including environmental). The Bush victory also makes it more likely that Alan Greenspan’s term as Fed Chairman will be extended from January 2006 (when Greenspan’s term as Fed Governor expires) to June 2008 (when his current term as Chairman ends). These factors all spell emphasis on free and competitive markets, both nationally and internationally, with limited intervention by the federal government in market processes or in the distribution of income and wealth across segments of the population. NAHB Chief Economist David Seiders analyzes the economy from the point of view of the housing market every other week in the free e-newsletter, “Eye on the Economy.” The preceding was an excerpt from his Nov. 3 edition. To read the entire edition, click here. To subcribe to “Eye on the Economy,” click here. For more information or to contact us directly, please visit www.NAHB.org | ©2004, National Association of Home Builders |