Posted on 10/24/2006 12:04:18 PM PDT by Sub-Driver
The Real Bush Economy
Today, President Bush will make remarks on the economy while visiting the Urban Trust Bank in Washington, DC. The President continues to deceive Americans when he says that the economy is growing stronger, as he fails to mention that the Bush Economy continues to benefit only the wealthiest Americans. By citing growth in the stock market, he ignores the fact that 10 percent of Americans own 80 percent of all stocks. [Economic Policy Institute, 10/11/06]
Under President Bush’s misguided leadership, median household income for American workers has decreased by $1,300, with full-time workers suffering the most from these failed policies. Millions more Americans have also joined the ranks of the uninsured during the Bush Presidency. In 2000, 39.8 million Americans were uninsured, while that number rose to 46.6 million in 2005. [U.S. Census; Kaiser Family Foundation] Bush and his Republican allies have also refused to raise the minimum wage while voting to increase their own salaries. President Bush’s handling of America’s finances is not any better, having turned record surpluses into record deficits.
“The Bush Economy continues to help only those at the top of the economic ladder while ignoring the millions of hard-working Americans who are holding the ladder steady,” said Democratic National Committee Press Secretary Stacie Paxton. “From declining incomes and record deficits, to the millions of Americans who have become uninsured, the Republican economic record is one of deficits, deceit and divisiveness. Democrats remain committed to middle class tax fairness and pro-growth policies that create good jobs here in America. America’s working families cannot afford more failed Republican leadership on the economy.”
Household Income Declined By Nearly $1,300 Under Bush; Wage And Salary Increases Don't Cover Inflation. Although median household income increased by $509 last year, median household income has declined by $1,273 under the Bush Administration. And the failure of wage and salary increases to cover inflation has meant a real reduction of median income between 2000 and 2005 of 2.7 percent for households. [U.S. Census Bureau, 8/29/06; Table A-1; Center for American Progress, 8/29/06]
* Full-Time Workers Suffer The Most. The decline in workers' real income was especially pronounced for full-time, year-round workers. For men, median incomes fell by $774 from 2004-2005, and they have seen their incomes drop by $842 during the Bush Administration. For women, median incomes fell by $427 in the last year alone. Incomes in this group fell to their lowest levels since 1997 for men, and lowest level since 2000 for women. [U.S. Census Bureau, 8/30/05; Table A-2; Center for American Progress, 8/29/06]
The Bush Record: Record Surpluses To Record Deficits. Republicans have turned President Clinton's projected 10-year $5.6 trillion surplus into a nearly $3 trillion deficit. When this Administration took office, it inherited a projected ten-year surplus (2002-2011) of $5.6 trillion. Based on a realistic estimate of the President's policies, that surplus has now become a $3.3 trillion deficit over the same period of time, a dramatic fiscal reversal of $8.9 trillion. [House Budget Committee, 2/06]
Senate GOP Blocked Minimum Wage Vote For 9th Time; Congressional Pay Up $30,000 During Same Period. "The Republican-controlled Senate smothered a proposed election-year increase in the minimum wage Wednesday, rejecting Democratic claims it was past time to boost the $5.15 hourly pay floor that has been in effect for nearly a decade. ... The Senate vote marked the ninth time since 1997 that Democrats there have proposed -- and Republicans have blocked -- an increase in the minimum wage. ... Kennedy also said lawmakers' annual pay has risen by roughly $30,000 since the last increase in the minimum wage." [AP, 6/22/06]
Source URL: http://www.democrats.org/a/2006/10/the_real_bush_e.php
Which will be eagerly lapped up by the "gimmees".
That figure is misleading because it is not adjusted for all the poverty we have imported from south of the border.
"he ignores the fact that 10 percent of Americans own 80 percent of all stocks"
NO ONE IS STOPPING ANYONE FROM INVESTING IN THE MARKETS.
Well when you are the party with NO ideas, no vision and no plan all that is left is hysteric lying.
Note to Democrats. The current Unemployement and average wage data is BETTER then all but 12 months of your vaunted "Clinton" economy. That DESPITE War and the 09-11-01 Recession. The "Bush Economy" is the longest substained period of economic growth since the 1980s. You lose this arugement 'Rats
The Bush Record: Record Surpluses To Record Deficits. Republicans have turned President Clinton's projected 10-year $5.6 trillion surplus into a nearly $3 trillion deficit. When this Administration took office, it inherited a projected ten-year surplus (2002-2011) of $5.6 trillion. Based on a realistic estimate of the President's policies, that surplus has now become a $3.3 trillion deficit over the same period of time, a dramatic fiscal reversal of $8.9 trillion. [House Budget Committee, 2/06]Wow. What could have caused this?--I mean, you would almost think that America got attacked on her own land-mass with lots of civilian casualties and we had to go to war against a new kind of enemy or something. But no. That can't be.
85% of Democrats in Congress voted against the Bush tax cuts....
"That figure is misleading because it is not adjusted for all the poverty we have imported from south of the border."
Bingo. Median is the central point based on population, not average income.
Such crap.
Lets review: Those Clinton surpluses were projected surpluses.
They NEVER existed. Not once, Never. ................Now, I've got to get back to work for my American employer.
Do they ever play a different tune?
A_R
As long as the average Social Security check is $1000/mo, those numbers will decline as baby boomers retire. Social Security rform is th biggest thing the government could do to influence them.
“The Bush Economy continues to help only those at the top of the economic ladder while ignoring the millions of hard-working Americans who are holding the ladder steady,”
The economy doesn't "ignore" anyone... it is just the opposite: People ignore the economy.
And the fact that 10% of the US population owns 80% of all stock is merely an indication of how stupid the other 90% are. Further, no one is preventing that other 90% from jumping into the investment game.
This is just more reliance by the Demiocratic party on the economic stupidity of the average US citizen.
The Real Bush Economy
Today, President Bush will make remarks on the economy while visiting the Urban Trust Bank in Washington, DC.
Thank you.
Tens of millions of Americans own stock through their retirement plans(at work or their own SEP-IRAs or IRAs) and brokerage accounts.
The Investment Company Institute report that nearly 57-MILLION American households owned stock in 2005. That's UP more than THREE times since the early 1980s. I'd say the ICI is a far better source of information than the Economic Policy Institute.
In short, the DNC message, what a surprise, is a lie. Simple as that.
The Economic Policy Institute is a cesspool(bunch of whiners). Another one of those "non-profit, nonpartisan" outfits. Not likely. Don't let these hand wringers grind you down.
Exactly....
"When this Administration took office, it inherited a projected ten-year surplus (2002-2011) of $5.6 trillion..."by who??? What a bunch of crocks!!!
DIVISIVE garbage.
This proves that the Democrat idea of a perfect economy does not include any rich people.
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