Bush is dead wrong

[MsMagnificent]

Bush is dead wrong

http://www.guardian.co.uk/uselections2004/comment/story/0,14259,1320804,00.html

Joseph Stiglitz
Wednesday October 6, 2004
The Guardian

Many around the world are surprised at how little attention the economy is receiving in President Bush's re-election campaign. But I am not surprised: if I were Bush, the last thing I would want to talk about is the economy. Yet many people look at America's economy, even over these past three-and-a-half years, with some envy. Annual economic growth - at an average rate of 2.5% - may have been markedly slower than during the Clinton years, but it still looks strong compared with Europe's anaemic 1%.
But these statistics mask a glaring fact: the average American family is worse off than it was three-and-a-half years ago. Median income has fallen by over $1,500 in real terms, with families being squeezed as wages lag behind inflation. In short, all that growth benefited only those at the top of the income distribution, the same group that had done so well over the previous 30 years and benefited most from Bush's tax cut.

For example, some 45 million Americans have no health insurance, up by 5.2 million from 2000. Families lucky enough to have health insurance face annual premiums that have nearly doubled, to $7,500. Families also face increasing job insecurity. This is the first time since the early 1930s that there has been a net loss of jobs over the span of a presidential administration.

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[Goldmund]

1. Bush being "dead wrong" ain't no breaking news

:)

[Lautremont]

2. A slow reader might be overjoyed by that headline

before getting to the last word of it, when joy turns to a shrug of "what else is new?"

[Goldmund]

4. Overjoyed?

Guess you were really impressed with Cheney last night, eh?

[KlatooBNikto]

3. Bush is wrong and a lot of people are dead.

[thinkingwoman]

5. why isn't this message getting out

here in America!

We've got to find a way to make these statistics the talk at the water cooler (for those who have jobs).

[The_Tombstone_Kid]

6. Kerry needs to start running commercials with graphical images

To illustrate the job situation. THe numbers are not enuf. He needs to give the sheeple a picture to help them understand the situation.

[htuttle]

7. Stiglitz is 'The Globalizer Who Came in From the Cold'

Greg Palast did an inteview with him in 2001. He used to be Chief Economist at the World Bank and won a Nobel for Economics.

He definitely knows what he's talking about:
http://www.gregpalast.com/detail.cfm?artid=78&row=1

Glad to see that he's still talking!