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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Hope Praytochange who wrote (438659)	8/6/2003 12:05:19 AM
From: Lizzie Tudor	Respond to of 769670

A key to that perception lag may be unemployment. Hibbs and Fair don't pay much attention to the jobs data because employment usually tracks GDP growth so closely. But if the expansion picks up and people don't get back to work quickly enough, Bush could have a problem. After all, the growth rate in 1992 was 2.3% -- not much different than today's -- but unemployment remained at a stubbornly high 7.5%. The unemployment rate for white collar professionals is higher now than 1992. The long term unemployed are higher now than then, and we've LOST jobs in Bush's tenure which has never happened before. The difference between me and these economists is that I am in the trenches and see what the problem really is, which is this offshoring of white collar jobs. It is accelerating and removing high paying jobs from the workforce which means nobody to pay off this gargantuan deficit. I believe Bush is VERY vulnerable and the GOP is just kidding itself with the "employment is a lagging indicator" folly. If we didn't have offshoring of all these professional jobs, we would have a recovery by now imho.