Monday, May 08, 2006
This week, the President hit the trail hard in preparation for upcoming congressional elections. Among his themes, the strength of the American economy. While this leaves many scratching their head, Bush points to a rising Dow, increased productivity, stable unemployment and rising corporate earnings as evidence that his tax breaks have stimulated the economy. What Bush ignores is that the fruits of economic success are trapped at the top of the income scale. Workers in the middle of the income chart have not recieved a raise in over three years when wages are adjusted for inflation, mortgage foreclosures have risen by 72% since the first quarter of '05, and over 1 million Americans have slipped into poverty. Analyzing the gap between the President's perception and reality, Treasury Secretary Tower Snow reported," There really is no gap between perception and reality. The President sees a strong economy and for his supporters, donors, advisors and patrons, the economy is very strong indeed. I mean, the President cannot be held accountable is someone has failed to invest heavily in securities, failed to become a corporate officer and failed to attach themselves to an industry that cannot be outsourced. It is all about personal accountability people...."
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