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Published by: AffNeg.Com on Jan 08, 2009
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10/16/2011

(__) US Econ Up-

a) Housing bill- Prefer our evidence its future predictive

AP 7-28 (‘Hoyer Says US economy needs foreclosure bill,” http://www.baltimoresun.com/business/realestate/bal-foreclosures0728,0,3737102.story 2008)

Congressman Steny Hoyer says a foreclosure recovery measure that Congress recently passed is needed to stabilize the
economy.

The House majority leader said rising foreclosures have hit Maryland hard, with 11,000 foreclosures projected this year in the state.
Prince George's County leads the state in foreclosures; Hoyer said nearly 30 percent of Maryland's foreclosures in the first quarter of 2008 were in Prince George's.

The bill would provide mortgage financing assistance and $180 million nationwide for financial and legal
counseling for homeowners. President Bush has indicated he will sign the bill.

b) Up compared to other countries and will grow in the second quarter.

Kennedy 7-28 (John, “US Economy Bad But Everyone Else Worse,” Cluster stock, http://www.clusterstock.com/2008/7/us-economy-bad-but-everyone-else-worse-good-
news-for-dollar-)

Brown Brothers thinks that the dollar will strengthen in the near term, even as the economy continues to flounder. As
bad as things are in the U.S., the firm says, they're even worse in other G7 economies:
One of the key factors that have contributed to the dollar’s weakness has been the under-performance of
the US economy and the rates cuts seen in response. We think that the news stream is improving in this regard. In fact, it is possible
that the US economy was the best performer in the G7 in Q2, and could be doing it again here in Q3.
What's more, U.S. growth is expected to pick up in Q2 and exceed earlier estimates, just as Japan and
Europe begin to sink further:

We had projected a 1.5% pace in Q2, but this seems too conservative. Indeed the US economy appears to have grown at around twice the pace of Q1. Recognizing that H1 08 growth
has been significantly better than expected, both the IMF and the Federal Reserve have now revised higher their forecasts made in the spring. This stands in stark contrast with what
is happening in the other major industrialized countries.

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