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Oops! Cavuto Forgot to Report the Business News

Reported by Melanie - September 18, 2006 -

Some worrying economic data was released today:

-The U.S. current-account deficit widened more than forecast last quarter to the second-largest on record.

-The National Association of Home Builders/Wells Fargo index of builder optimism fell to 30 during the month from 33 in August.

-Optimism among American chief executives decreased to a three-year low.

-The Treasury Department reported that foreigners bought a net $6.6 billion in Treasury bonds and notes in July, down from $27 billion in June.

-The deficit in trade, which accounted for most of the total current-account imbalance, widened to $193.8 billion last quarter from $191.1 billion in the first quarter.

-U.S. investors received less income on their holdings of overseas investments than foreigners received here.

-Income on overseas assets held by U.S. investors rose to $154.2 billion from $140 billion. Foreign earnings on U.S. assets, including wages and other compensation, increased to $158.3 billion in the second quarter from $142.5 billion in the previous three months. That left a record $4.1 billion deficit on income payments, compared with a $2.5 billion shortfall in the first quarter.

-The figures so far this quarter suggest the trade balance may continue to deteriorate. The gap widened in July to a record $68 billion as imports reached an all-time high.

How much of this bad-for-Bush-and-the-Republicans news did Fox's business guru, Neil Cavuto report today during his "premiere business news" program? None of it, though he did have time to,

-Host three segments about Bush going to the United Nations tomorrow;

-Host two segments about how Muslims are reacting to what Pope Benedict XIV said about Islam;

-Host a doctor who said it's ridiculous that hospitals are required to provide translators for patients who don't speak English;

-Host two members of the rock band Hootie and the Blowfish -- both Democrats -- who support George Bush's latest mantra, that "education is the path to democracy."

And, finally,

-Host a roundtable discussion on whether the Dow is poised to hit a new all-time high.

Pretty obvious, isn't it, that the election's less than two months away?