Economy, worst since beginning of recorded history, continues its slide
THE EMPLOYMENT SITUATION: JUNE 2005
We actually heard a moax on a local talk show yesterday demanding that the President pay more attention to domestic issues, like the economy.
The great travesty of the 2004 election was not the media coverage of the war in Iraq, as brutal as that was, but their mis-reporting on the economy.
This president inherited a recession, exacerbated by 9/11 and the corporate scandals -- with roots in the '90's -- and managed to minimize the damage and kick start a recovery that is in full roar today.
He has even dared to attempt to reform the scam known as Social Security, hoping to empower people to provide for their own retirements so that they might actually spend their golden years -- AFFLUENT!
His predecessor came to office with an incipient recovery, slowed it with his tax hikes (most forget he wanted to hike taxes even more than he did), then took credit when the tech boom and capgains cuts fueled the late '90's rally.
The economy's fine, excellent, even. It would be even better were the tax cuts to be made permanent and Sarbanes-Oxley rescinded.
To those who continue to moan and carp, we say only: Can the whining. If you're a failure, it's your own fault. Work harder, get smarter ... It's tough competing with those brown people in India and the yellow folk in China but you have no choice. Grow up.
Nonfarm employment increased by 146,000 [The Ponderosa: 163K in the Household Survey] in June, and the unemployment ratecontinued to trend down, reaching 5.0 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. Over the month, payroll employment continued to grow in several industries, notably professional and
business services and health care.
...
-more-
We actually heard a moax on a local talk show yesterday demanding that the President pay more attention to domestic issues, like the economy.
The great travesty of the 2004 election was not the media coverage of the war in Iraq, as brutal as that was, but their mis-reporting on the economy.
This president inherited a recession, exacerbated by 9/11 and the corporate scandals -- with roots in the '90's -- and managed to minimize the damage and kick start a recovery that is in full roar today.
He has even dared to attempt to reform the scam known as Social Security, hoping to empower people to provide for their own retirements so that they might actually spend their golden years -- AFFLUENT!
His predecessor came to office with an incipient recovery, slowed it with his tax hikes (most forget he wanted to hike taxes even more than he did), then took credit when the tech boom and capgains cuts fueled the late '90's rally.
The economy's fine, excellent, even. It would be even better were the tax cuts to be made permanent and Sarbanes-Oxley rescinded.
To those who continue to moan and carp, we say only: Can the whining. If you're a failure, it's your own fault. Work harder, get smarter ... It's tough competing with those brown people in India and the yellow folk in China but you have no choice. Grow up.
posted by Mr. Buzzcut at 7:22 PM
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