More Signs of Economic Doom Boom
The Congressional Budget Office report referenced in the post below also says this about the economy:

After slow growth during the first half of 2003, the economy now seems poised to expand at a faster pace. Since the first of the year, economic output has grown at an average annual rate of about 2 percent, reflecting not only tensions attributable to the war in Iraq but also a host of other factors, including the slow growth of foreign demand for U.S. goods, fiscal constraints on state and local spending, and businesses' concerns about the durability of the economy's recovery from the 2001 recession. Signs of a pickup in consumer and business spending in the second quarter, the rapid growth of federal purchases, enactment of tax cuts for firms, and a slightly more accommodative monetary policy have improved the economic outlook for the remainder of 2003 and for 2004. The Congressional Budget Office anticipates a rebound in demand in 2003 and real (inflation-adjusted) growth of gross domestic product that approaches 4 percent in calendar year 2004.

I blame the Bush tax cuts!