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Politics : PRESIDENT GEORGE W. BUSH
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To: JDN who wrote (752573)10/26/2006 7:21:00 PM
From: DuckTapeSunroof   of 769670
 
Re: "Reason #1. The economy is kicking butt. It is robust, vibrant, strong and growing. In the 36 months since the Bush tax cuts ended the recession that began under President Clinton,"

(Small point: Recession *officially* began AFTER Bush took office. NOT before.)

Re: "the economy has experienced astonishing growth."

(You must have a low threshold for astonishment! :-)

"Over the first half of this year, our economy grew at a strong 4.1 percent annual rate,"

No... that was the FIRST Q. number. Second Q. decelerated quite a bit and the THIRD QUARTER NUMBER will be released by the government TOMORROW. Projection is for 2% or lower....

Re: "faster than any other major industrialized nation."

Not serious, are you?

Re: "Reason #2. Unemployment is almost nil for a major economy, and is verging on full employment...."

LOL!

Percentage of the population that is employed has fairly steadily FALLEN over the past 6 years... and is now at multi-decade lows.

(Only reason the *official* government unemployment stats don't reflect this fact is because they don't count 'discouraged' in the stats. THAT helps the stats look better some 50% or so right there....)

Averaged over the past 6 years ALL of the net growth in employment in the US came from JUST TWO SECTORS: 1) government jobs and 2) Real Estate.

(Not a lot of increased employment to be expected out of either of THOSE sectors any more for a while!)

Re: "Reason #3. The Dow is hitting record highs."

Not in REAL numbers it ain't... only in NOMINAL not-adjusted-for-inflation numbers. Still got some 2000 points or so to go to reach the previous high posted in yr. 2000, when you correct for inflation.

Re: "Reason #4. Wages have risen dramatically."

Very RECENT and modest uptick (had to happen sooner or later after going so long with sub-par growth. Bit of reversion to mean I hope) --- but still largely stagnant over the trailing 6 years (HUGELY unlike the 6 years previous....)

Re: "Reason #5. Gas prices have plunged. ...lowest level in more than 10 months."

TEN MONTHS???????

Ya gotta be KIDDING! (Still way up year-over-year!)

(The rest of this is just getting TOO TEDIOUS. Talk about cherry-picking! :-)
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