Friday, December 17, 2004

More of The Big Picture

More news is coming out today from The White House Conference on the Economy showing that the WH team, if not "off message" is, at least, "out of focus" when it comes to the basis of sustaining a consumer-driven domestic economy: jobs, jobs, jobs.

Two good graphs from tell the tale. Since WWII we have had five recessions, the latest of which was supposed to have already ended. But 44 months after the recession began, how did jobs recover?

This makes things look just as bad as during the Great Depression. Posted by Hello

And while the WH claims that job growth is "strong," that has only been for government job creation, not the private sector.

Now this comes as Bush is pushing for privitization of Social Security, arguing that retirement savings are best left to the financial markets and private savings accounts. Now if it were that great, why have other countries moved away from private retirement accounts? And if no jobs are being created in the private sector, then where will the extra funds come from to pay for it? Alas, the good citizens of this country can't put everything on a credit card, as our exective branch does. Posted by Hello

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