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Non-Tech : Greenspan, Rubin & Co - the Most Irresponsible Team Ever?? -- Ignore unavailable to you. Want to Upgrade?

To: Tom M who wrote (125)	2/3/1999 8:50:00 AM
From: Cynic 2005	Respond to of 309

A wise man once said, do you really believe the stats put out by this Spinministration&reg? The real U.S. economy By Jan Chastain In the president's surreal State of the Union address, delivered only a few hours after senators were weighing his fate in the impeachment trial, Mr. Clinton told us, "The state of our union is strong!" Saying that our country is strong may not be one of Mr. Clinton's biggest lies, but it is a gross misrepresentation. It's like looking at a junkyard after a snowfall. It's beautiful because the old tires, rusted metal and piles of trash have been covered with a lovely blanket of white. Our military is hollowed out; our trade imbalance is growing, especially with China. The PRC is using our technology to build a new generation of missiles and Russia is considering a partnership with China in developing its top-secret MiG 1.42. Meanwhile, we still have no defense against incoming intercontinental ballistic missiles. Our schools are failing. Most of us send our children to school well prepared. Many can read and write before they enter school but they get further and further behind with each passing year, and the president's answer is more federal control. The economy continues to hum along, but it is still one of the weakest recoveries in our nation's history. The budget surplus is not really a surplus at all when you back out all the money that should be in a Social Security trust but isn't, and our gross public debt increased -- not decreased -- over the last twelve months by a whopping $131.3 billion. The unexpected revenue pouring into Washington and our state houses is primarily because of windfall profits in the stock market. If you aren't in the stock market, your own personal economy isn't doing very well, because your family is giving 40 percent of its earnings back to the government. The stock market is propped up by the economic news, which is largely misstated. Economist Walter J. Williams, who runs the Shadow Bureau of Government Statistics in Hawthorne, N.J., reports that our annual inflation is not 1.6 percent, but 4.1 percent over last year if you use pre-Clinton methodology. Unemployment is not 4.3 percent, but over 10 percent if you back out all those people who were reclassified as "discouraged workers" and simply eliminated from the government's tally. And over half of the 17.5 million new payroll jobs since Clinton came into office are imaginary "fudge" factors. Sooner or later the snow melts, and when it does, we will find that our fiscal state closely parallels the moral state of our union. We didn't need another puff speech. We needed a hard dose of reality. worldnetdaily.com