| Topic: |
Politics > Politics-USA |
| User: |
"Harry Hope" |
| Date: |
23 Dec 2005 07:43:48 PM |
| Object: |
These are some of the things wrong with the Bush economy |
From The Economic Policy Institute, 12/21/05:
http://www.epi.org/content.cfm/pm110
What's wrong with the economy?
by EPI President Lawrence Mishel and Policy Director Ross Eisenbrey
1. Profits are up, but the wages and the incomes of average Americans
are down.
-----Inflation-adjusted hourly and weekly wages are still below where
they were at the start of the recovery in November 2001. Yet,
productivity—the growth of the economic pie—is up by 13.5%.
-----Wage growth has been shortchanged because 35% of the growth of
total income in the corporate sector has been distributed as corporate
profits, far more than the 22% in previous periods.
-----Consequently, median household income (inflation-adjusted) has
fallen five years in a row and was 4% lower in 2004 than in 1999,
falling from $46,129 to $44,389.
2. More and more people are deeper and deeper in debt.
-----The indebtedness of U.S. households, after adjusting for
inflation, has risen 35.7% over the last four years.
-----The level of debt as a percent of after-tax income is the highest
ever measured in our history. Mortgage and consumer debt is now 115%
of after-tax income, twice the level of 30 years ago.
-----The debt-service ratio (the percent of after-tax income that goes
to pay off debts) is at an all-time high of 13.6%.
-----The personal savings rate is negative for the first time since
WWII.
3. Job creation has not kept up with population growth, and the
employment rate has fallen sharply.
-----The United States has only 1.3% more jobs today (excluding the
effects of Hurricane Katrina) than in March 2001 (the start of the
recession). Private sector jobs are up only 0.8%. At this stage of
previous business cycles, jobs had grown by an average of 8.8% and
never less than 6.0%.
-----The unemployment rate is relatively low at 5%, but still higher
than the 4% in 2000. Plus, the percent of the population that has a
job has never recovered since the recession and is still 1.3% lower
than in March 2001. If the employment rate had returned to
pre-recession levels, 3 million more people would be employed.
-----More than 3 million manufacturing jobs have been lost since
January 2000.
4. Poverty is on the rise.
-----The poverty rate rose from 11.3% in 2000 to 12.7% in 2004.
-----The number of people living in poverty has increased by 5.4
million since 2000.
-----More children are living in poverty: the child poverty rate
increased from 16.2% in 2000 to 17.8% in 2004.
5. Rising health care costs are eroding families' already declining
income.
-----Households are spending more on health care. Family health costs
rose 43-45% for married couples with children, single mothers, and
young singles from 2000 to 2003.
-----Employers are cutting back on health insurance. Last year, the
percent of people with employer-provided health insurance fell for the
fourth year in a row. Nearly 3.7 million fewer people had
employer-provided insurance in 2004 than in 2000. Taking population
growth into account, 11 million more people would have had
employer-provided health insurance in 2004 if the coverage rate had
remained at the 2000 level.
__________________________________________________
A very unpleasant state of affairs
Harry
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| User: "Frank B." |
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| Title: Re: These are some of the things wrong with the Bush economy |
23 Dec 2005 08:04:57 PM |
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3. Job creation has not kept up with population growth, and the
employment rate has fallen sharply.
-----The United States has only 1.3% more jobs today (excluding the
effects of Hurricane Katrina) than in March 2001 (the start of the
recession). Private sector jobs are up only 0.8%. At this stage of
previous business cycles, jobs had grown by an average of 8.8% and
never less than 6.0%.
-----The unemployment rate is relatively low at 5%, but still higher
than the 4% in 2000. Plus, the percent of the population that has a
job has never recovered since the recession and is still 1.3% lower
than in March 2001. If the employment rate had returned to
pre-recession levels, 3 million more people would be employed.
Do these figures factor in the huge number of illegal immigrants in this
country?
.
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| User: "Larry Hewitt" |
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| Title: Re: These are some of the things wrong with the Bush economy |
23 Dec 2005 11:43:58 PM |
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"Frank B." <f@midsouth.rr.com> wrote in message
news:d12rf.61762$lh.40454@tornado.ohiordc.rr.com...
3. Job creation has not kept up with population growth, and the
employment rate has fallen sharply.
-----The United States has only 1.3% more jobs today (excluding the
effects of Hurricane Katrina) than in March 2001 (the start of the
recession). Private sector jobs are up only 0.8%. At this stage of
previous business cycles, jobs had grown by an average of 8.8% and
never less than 6.0%.
-----The unemployment rate is relatively low at 5%, but still higher
than the 4% in 2000. Plus, the percent of the population that has a
job has never recovered since the recession and is still 1.3% lower
than in March 2001. If the employment rate had returned to
pre-recession levels, 3 million more people would be employed.
Do these figures factor in the huge number of illegal immigrants in this
country?
Yes and no.
Many --- but not all --- employed illegals are, f. ex, counted in the
employment figures that are used to calculate the unemployment rate.
Illegals are not counted in the above stat, just people who can legally work
in the US who are currently employed or who are seeking employment.
Larry
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| User: "Taylor" |
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| Title: Re: These are some of the things wrong with the Bush economy |
24 Dec 2005 08:29:54 AM |
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"Larry Hewitt" <larryhewi@comporium.net> wrote in message
news:doinbj$b6es$1@news3.infoave.net...
"Frank B." <f@midsouth.rr.com> wrote in message
news:d12rf.61762$lh.40454@tornado.ohiordc.rr.com...
3. Job creation has not kept up with population growth, and the
employment rate has fallen sharply.
-----The United States has only 1.3% more jobs today (excluding the
effects of Hurricane Katrina) than in March 2001 (the start of the
recession). Private sector jobs are up only 0.8%. At this stage of
previous business cycles, jobs had grown by an average of 8.8% and
never less than 6.0%.
-----The unemployment rate is relatively low at 5%, but still higher
than the 4% in 2000. Plus, the percent of the population that has a
job has never recovered since the recession and is still 1.3% lower
than in March 2001. If the employment rate had returned to
pre-recession levels, 3 million more people would be employed.
Do these figures factor in the huge number of illegal immigrants in this
country?
Yes and no.
Many --- but not all --- employed illegals are, f. ex, counted in the
employment figures that are used to calculate the unemployment rate.
Illegals are not counted in the above stat, just people who can legally
work
in the US who are currently employed or who are seeking employment.
Larry
Illegal aliens willing to work for minimum wage drive the wages down. They
also take the jobs of legitimate Americans, skewing the unemployment
statistic.
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| User: "Gogarty" |
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| Title: Re: These are some of the things wrong with the Bush economy |
24 Dec 2005 08:51:51 AM |
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In article <CXcrf.8983$tO4.5426@tornado.texas.rr.com>, says...
Illegal aliens willing to work for minimum wage drive the wages down. They
also take the jobs of legitimate Americans, skewing the unemployment
statistic.
Which job that an illegal immigrant has filled would you have preferred to
take yourself?
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| User: "Taylor" |
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| Title: Re: These are some of the things wrong with the Bush economy |
27 Dec 2005 05:31:31 PM |
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"Gogarty" <trinity@dublin.edu> wrote in message
news:TOidnbwNCJOI_TDeRVn-gA@bway.net...
In article <CXcrf.8983$tO4.5426@tornado.texas.rr.com>, says...
Illegal aliens willing to work for minimum wage drive the wages down.
They
also take the jobs of legitimate Americans, skewing the unemployment
statistic.
Which job that an illegal immigrant has filled would you have preferred to
take yourself?
I would take any of their jobs at the right price.
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| User: "The_Great_NeoCon" |
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| Title: Re: These are some of the things wrong with the Bush economy |
23 Dec 2005 08:17:19 PM |
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Liberals blatant use of propaganda that flies in the face of facts would
make Goebbels proud.
"Frank B." <f@midsouth.rr.com> wrote in message
news:d12rf.61762$lh.40454@tornado.ohiordc.rr.com...
3. Job creation has not kept up with population growth, and the
employment rate has fallen sharply.
-----The United States has only 1.3% more jobs today (excluding the
effects of Hurricane Katrina) than in March 2001 (the start of the
recession). Private sector jobs are up only 0.8%. At this stage of
previous business cycles, jobs had grown by an average of 8.8% and
never less than 6.0%.
-----The unemployment rate is relatively low at 5%, but still higher
than the 4% in 2000. Plus, the percent of the population that has a
job has never recovered since the recession and is still 1.3% lower
than in March 2001. If the employment rate had returned to
pre-recession levels, 3 million more people would be employed.
Do these figures factor in the huge number of illegal immigrants in this
country?
.
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| User: "Larry Hewitt" |
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| Title: Re: These are some of the things wrong with the Bush economy |
23 Dec 2005 11:44:45 PM |
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"The_Great_NeoCon" <nospam@hotmail.com> wrote in message
news:ac2rf.792$TI6.128@fed1read03...
Liberals blatant use of propaganda that flies in the face of facts would
make Goebbels proud.
Yeah, the BLS os lyiong through their teeth!!
Larry
"Frank B." <f@midsouth.rr.com> wrote in message
news:d12rf.61762$lh.40454@tornado.ohiordc.rr.com...
3. Job creation has not kept up with population growth, and the
employment rate has fallen sharply.
-----The United States has only 1.3% more jobs today (excluding the
effects of Hurricane Katrina) than in March 2001 (the start of the
recession). Private sector jobs are up only 0.8%. At this stage of
previous business cycles, jobs had grown by an average of 8.8% and
never less than 6.0%.
-----The unemployment rate is relatively low at 5%, but still higher
than the 4% in 2000. Plus, the percent of the population that has a
job has never recovered since the recession and is still 1.3% lower
than in March 2001. If the employment rate had returned to
pre-recession levels, 3 million more people would be employed.
Do these figures factor in the huge number of illegal immigrants in this
country?
.
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| User: "Bret Cahill" |
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| Title: Re: These are some of the things wrong with the Bush economy |
23 Dec 2005 08:24:21 PM |
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The REAL problem with the economy is all those newsgroups rightards
living on a Social Security mental disability.
Bret Cahill
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| User: "Fred" |
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| Title: Re: These are some of the things wrong with the Bush economy |
23 Dec 2005 09:18:53 PM |
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The_Great_NeoCon wrote:
Liberals blatant use of propaganda that flies in the face of facts would
make Goebbels proud.
One of the things that Goebbels would do is accuse his opposition of
doing that which he was indeed doing
--
-Fred
Music: http://www.audioscrobbler.com/user/freeloosedirt/
photos: http://flickr.com/photos/44356659@N00/
"All I know is I'm training hard to get back on top.
This is who I am." -Kobe
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| User: "nospam" |
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| Title: Re: These are some of the things wrong with the Bush economy |
23 Dec 2005 09:50:56 PM |
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Fred wrote:
The_Great_NeoCon wrote:
Liberals blatant use of propaganda that flies in the face of facts would
make Goebbels proud.
One of the things that Goebbels would do is accuse his opposition of
doing that which he was indeed doing
And guess what, it works.
The only condition is to have an uneducated reader base.
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