Saturday, August 06, 2005

Reality Anyone?

Think on this for a second and then I have a couple questions for you:

President Bush crowed about the strength of the U.S. economy on Saturday and credited his hotly debated tax cuts for the growth.


1. What strength and growth?

2. Tax cuts = growth?

In response to 1, there is none. New jobs created beat expectations by about 20k, but what does that mean? First, we do not have the jobs lost to measure net jobs against. Second, what kind of jobs are these? High paying ones or Walmart ones? Third, the only reason the unemployment statistic is so low is because the Department of Labor stops counting people as unemployed after they have been out of work for an extended period of time. Fourth, this is a statistic for one month. It does not signal a sustained economic recovery (by the by, we are still in a recession, the DJIA and the NASD are not good indicators for the economy as a whole). Fifth, take a look at some wage statistics.

In response to 2, hell no. Trickle down has been proven time and time again not to work. Bush's tax cuts have only served to widen income inequality and make the lives of most Americans worse.

Bush's reality has gotten better (way to be landed gentry) but America's has not.

Link.

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