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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: LLCF who wrote (21699)	9/26/2000 10:13:50 AM
From: AllansAlias	Read Replies (2) \| Respond to of 436258

Booked the long -- chithouse luck the softie rally. I think I might call it a day. Been posting too much and am tired from being at this many hours a day for a couple of weeks now. Besides, I like to take time off when the bulls are runnin'. -g

To: LLCF who wrote (21699)	9/27/2000 10:28:29 AM
From: flatsville	Read Replies (1) \| Respond to of 436258

Here's another bit o' Texas Miracle I hope doesn't become a nationwide thing-- chicagotribune.com Boom pushes income higher, poverty lower By William Neikirk and Frank James Washington Bureau September 27, 2000 WASHINGTON -- America's remarkable economic boom drove the income of households at the very center of the earnings scale to its highest level ever recorded last year while pushing poverty to its lowest rate since 1979, the Census Bureau reported Tuesday. The report served up good news for workers across the income spectrum but especially for those who, until only a few years ago, had seen their incomes lag behind highly skilled, better-educated Americans who enjoyed higher wage gains in an information-driven economy. Now, without either a major tax cut or a dramatic rise in government spending, the private economy is proving that it not only can bring more prosperity to the country as a whole, but also can spread the benefits more evenly to those in the middle and those at the bottom. While reporting that the poverty rate fell from 12.7 percent to 11.8 percent last year, the Census Bureau said median household income—those at the precise middle of the income scale—rose from $39,744 to a record $40,816 after adjustment for inflation. Many of these households have a high percentage of blue-collar workers who have less job security and lower income prospects than the college-educated in the new economy, said David Wyss, chief economist at Standard & Poor's. "You're looking at Joe Six-Pack," Wyss said. "The people in the middle are finally getting some gains." Marvin Kosters, economist at the American Enterprise Institute and a former head of the Bureau of Labor Statistics, said a trend toward wage inequality, apparent in the early 1990s, has been halted in the last few years by a record economic expansion and by lower inflation. Princeton University economics professor Alan Blinder, a former member of the Federal Reserve Board who has advised Vice President Al Gore, agreed. "People at the middle of the income scale and below did rather poorly for several years," he said. "Now their incomes are rising pretty smartly." This was obviously good news for the White House and for Gore, who cheered the news on the campaign trail. Claiming the strong economy as his legacy, President Clinton said, "We have proved that we can lift all boats in a modern, global, information-based economy." But Gore's rival, George W. Bush, also claimed the news as part of his legacy as Texas governor. His campaign issued a statement saying that median household income in Texas rose faster than the national average while the poverty rate in his state fell more sharply than it did nationally. The Census Bureau, however, did not include Texas in a list of seven states plus the District of Columbia that enjoyed a statistically significant decline in the poverty rate, based on a two-year average from 1997-98 to 1998-99. In Texas, the rate fell 0.9 percentage points, from 15.9 to 15.0 during that period, while the District of Columbia, Arizona, Arkansas, California, New York, South Dakota, Utah and Virginia recorded declines ranging from 4.4 percentage points in South Dakota to 1.2 percentage points in New York, the report said. The last time the national poverty rate was so low was 11.7 percent in 1979, when Jimmy Carter was in the White House, but it hit an all-time low in 1973 when Richard Nixon was president. The poverty rate has fallen from a recession-influenced 15.1 percent since Clinton took office in 1993...