|October 21, 2004, 03:48 PM||#1|
Join Date: September 28, 2002
Location: san jose, ca.
Bad economy (Bush 3) (continuation)
I posted a follow up to thread "Foreign Observers Will Monitor U.S. Fall Elections" last posted on 10-11-2004. It failed to show up. I have to re-post it here.
Bad economy (Bush 3)
Bush boasted his tax cut policy. But since his three years of tax cut, the economy in consecutive years goes worse.
Bush government manipulate numbers to cheat people. Said economy is improved. Let's see some absolute numbers:
1. Bush has the worst job creation in 40 years. He is the only one got negative.
Total Nonfarm Payrolls (thous.) Bureau of Labor Statistics Establishment Survey
period ....start......end......Jobs created ..%chng....President
61-64....53,681... 59,583....5,902..... 11.15%...JFK/Johnson
65-68....59,583... 69,438 ...9,855....... 16.54% ....Johnson
69-72....69,438 ...75,620....6,182 .........8.90%....Nixon
73-76....75,620.. .80,692....5,072 ........6.71%....Nixon/Ford
77-80....80,692 ...91,100 ...10,408 .......5.77% ....Reagan I
85-88....96,353 ..107,132 ..10,779 ......11.19%.... Reagan II
89-92..107,132 ..109,725 ...2,593 .......2.42%...Bush, GHW
93-96 .109,725 ..121,232 ..11,507 .....10.49% ....Clinton I
97-00..121,232...132,436...11,204 .......9.24% ....Clinton II
01-8/04 .132,436 .131475 .... -961 .....-0.72%.....Bush, GW
2. Decreased income.
I.R.S. Says Americans' Income Shrank for 2 Consecutive Years
By DAVID CAY JOHNSTON
Adjusted for inflation, the income of all Americans fell 9.2 percent from 2000 to 2002, according to the new I.R.S. data.
3. Increased poverty.
More Americans Uninsured, Living in Poverty
Census Data Shows Third Straight Annual Increase in Both Categories
By GENARO C. ARMAS, AP
WASHINGTON (Aug. 26) - The number of Americans living in poverty increased by 1.3 million last year, while the ranks of the uninsured swelled by 1.4 million, the Census Bureau reported Thursday..... It was the third straight annual increase for both categories. ...Approximately 35.8 million people lived below the poverty line in 2003,
Yet media (So said crdible media poll like CNN, Gallop, ABC...) always matains Bush's rate around 50%. Said Bush leads over Kerry 11%. And news in internet said in electorade vote, Bush will have a landslide victory. Do you believe it? Do American people would rather vote for a president who proved bad?
Dark future (Bush 4)
Bush blows trumpet that he cut tax for you. It's only a trick to wangle votes. When he disguised as a Santa Clause to give you a tax cut cheque, at same time he quitely put a debt bill into that sock too.
He had cut tax for three years. The federal dificit went up for three years at a record high. It will hit a historical 422 billion dollars this year in adition to 375 billion of last year. The national dificit will be 2.2 trillion in next decade. If the tax cut goes on, then it will double to 4.4 trillion.
To fill the hole of that dificit, government have to borrow from financial market which will cause the rising of interest rate. As a result, it will leads to the break out of two bubbles: housing market and stock market.
The federal benchmark interest rate stays below 2% for three years since 2001. It creates a big credit bubble.
Personal debt increased, as well as national debt. The interest rate now is going up. Federal reserve bank has raised the rate three times in recent months. The rate is still below 2%. There is still a long road to go to the reasonable rate level. Meanwhile, housing market bubble and stock market bubble will break out at any time.
That's what we will face: a long time stagnant economy. And with great possibility, a big economy downturn when the two big credit bubbles exploded.
Bush dramatically increased national dificit. And allowed two big economic bubbles created which endangered financial market. We will have a very dark future. Main stream media rarely tell people about this. They keep issue the poll to maintain Bush's approve rate at around 50% and say he is steadily lead over Kerry at 8 %. Do people really not care about their pocket? Do they really support a president who bring them a bad economy?
This is how insider group manipulate American election. They steal it by intelligent covert job. (Those who controlled intelligence, they controlled election office) And make people believe the result is reasonable by fake poll.