Open Question: Is the Bush regime cooking GDP and other economic numbers?

[stevietheman]

I've been wondering this for a while... is this growth for real, because I'm certainly not seeing it or feeling it. All the signs I'm seeing in real life suggest the economy is in trouble.

[wakeme2008]

1. They have been cooking the books from day ONE

Like the "Outsourcing is Good for America" report. Pro did the report and it told all the problem outsourcing was causing America. Then bush friends re-wrote the report and turned it around.

[madame defarge]

2. I've often thought the same thing...

especially when government agencies come out with their monthly economic statistics that so often seemed skewed to try to prove that the economy is doing so well. Yet when you ask the average American what he/she thinks about economic growth, jobs, etc., it doesn't seem to match what the economic figures state. And you know the MSM economy news, like Bloomberg, Fortune, Business Week, etc. are just talking heads...

[hobbit709]

3. What haven't they cooked?

That list is much shorter than their cooked list.

[Career Prole]

4. The economy sucks. Most things that contribute to "growth"

are actually hurting us.

Take this article, for just one instance...

Economic Growth Strong Despite Storms

"The economy bulled its way forward during the summer and not even the destruction of a major city and other Gulf Coast communities could slow it down," said Joel Naroff, president of Naroff Economic Advisors.


.........................but farther down.......................

An inflation gauge tied to the GDP report showed prices rising at a 3.7 percent rate in the third quarter, the fastest pace in just over a year.

When food and energy prices are excluded, "core" inflation — which the Federal Reserve watches closely — actually moderated. It rose at a rate of 1.3 percent in the third quarter, compared with 1.7 percent in the earlier three months.

A separate barometer of inflation, employers' labor costs, climbed by 0.8 percent in the third quarter, the Labor Department reported. That compared with a gain of 0.7 percent for wages and benefits in the second quarter.

These numbers on paper contribute to the GDP, but in real life...our lives... inflation was closing on 4% while our wages and benefits rose by only one-tenth of one percent. In other words, while the economy galloped, we fell further behind. You didn't imagine it.

They'll throw that "core inflation" number at you and say inflation moderated, but core inflation excludes inflation in food and fuel.

Now I don't know about other folks, but food and fuel make up a large part of my budget and inflation there is especially painful, and I would bet that in many families it's crippling.

[WA98296]

5. All one has to do is observe what's going on around them

I've noticed car sales over the past several years have changed. GM and Ford in trouble.

Most recently when I buy groceries (at least three different chains) that the meat counter resembles something from the Depression, and not because they are shopped out.

Lots of stores closing in the Seattle and surrounding areas. Sure there are also new ones, but nothing seems to last.

How can it improve. I heard today on Ed Schultz show that 1.3 million people in Ohio that are employeed have no health insurance through their employeers. They have to be spending their funds on that.

As Washington state employees, we have only had one 3 percent raise in over five years, and no cost of living adjustments, all the while the cost of living has gone up 113% in that time -- and that's not counting the recent HUGE rise in gas prices.

It all adds up to an economy that can not be doing as well as they say.

[linazelle]

6. Are you series?

Inflation is probably in the double digits. I know for sure that they changed the bread basket that they use to calculate the GDP--removing high-ticket items to mask the real increases.

Anybody with half a brain need only look around them to tell what the economy is really like.