Has Bush lost it on the economy? The network news (ABC, NBC, MSNBC, CNN) would have you believe that it is not
The Dow is nearing on 12,000 showing that the economy is strong and has recovered!
Unemployment is at 4.3% the lowest in history.
The Trade deficit has been CUT IN HALF 3 years ahead of scheduled.
The tech industry that got US in trouble the last time for lying to investors is now moving at a decent rate! Sure those jobs don’t pay the same that they use to, but they were filled with corruption and little productivity.
Soon it will be an employees market.
President Bush said that tax cuts would help us, and help the economy. He never reduced spending but increased it in education, and military.
- Anonymous1 decade agoBest Answer
Network news reports what people want to hear and those too lazy to get information from other sources.
Bush has done an outstanding job in the past couple of years with the economy, yet all you hear about is spending on the war.
Of course there will be those who will still argue even with facts in front of them.
- ThinkingMan2006Lv 41 decade ago
The Dow Jones average is more complicated that the President. it is a world market and hinges on world events and other markets. It is high but remember, the higher it is, the further it can fall. Historically it falls sooner or later and the thing that determines if we are headed to recession/depression is how the public react to the falling of the Dow Jones.
Unemployment is a tricky one too because the numbers are based on samples and not on the total truth. Regional and local unemployment numbers are better to look at if you want to see how the economy is being affected. 4.3% is about where it should be as a capitalist society. Fluctuation from 3 to 5% is really not bad. Total employment in a free market, capitalist society is not possible (theoretically anyways). However, I would be wary of the numbers game. Let me explain why.
Unemployment only measures one thing really and that is how many people have filed for unemployment. Some people, like me, did not file until recently because we recieved paychecks still and because we figured we would have a job before those checks ran out (neither situation happened). Some still will not file unemployment because it can be tedious and it produces a stigma! People think you are lazy when you are on unemployment but that is not true. I fill out, on average, 2 applications per day. Now, things are looking better as i have interviews and I will cease my unemployment checks as soon as I recieve my first paycheck froma new job!
What unemployment does not look at is the number of people being given early retirement and buy outs (they are not eligible for unemployment!). So, for instance, the 30,000 people Ford bought out or retired early can not file for unemployment. Even if they are 30 or 40 years old and could still get another job they are not eligible. So they do not get counted in the unemployment numbers. Also, Unemployment speaks nothing about the changes in employment. For instance, take someone who was working at a pay rate of 10.50/hour in a job. They are let go due to downsizing but need a job to support their family so they go get a new job but only make 9.50/hour. Are they in a better place?
As you can see the economy is much more than these stupid statistics about number of jobs created (btw, august was the slowest month in a decade for number of jobs created) and unemployment. All politicians want you to think the economy is this or that but i would venture to say it is actually worse even if more people are employed. It is worse because many people who have lost jobs have been forced to take significant pay cuts as well as having lost benefits. Do you think someone who makes 9/hour can afford to pay 200 dollars a pay check for health insurance? My wife makes 12.00/hour and pays out 170/paycheck for her and my daughter (I am not even on the insurance!) In essence, her payraise of 1.50/hour just about paid for what she was losing in health care expenses each paycheck. This is a better measure of the economy. You want to know what the economy really is like, get out there and ASK people what they are making, how much goes to health costs and other costs, and find out what their REAL disposable (the money they can use to buy STUFF) income is.
The only way to strengthen the economy is going to be people buying more stuff and, the Consumer Price Index is up as is inflation as well. Also, the amount people are spending is down. the holiday's will show the true health of the economy as people tend to spend upwards of 25% of their discretionary income between thanksgiving and christmas.Source(s): I am an economics teacher and I love to read stupid statistics and see how stupidly they are interpreted
- lost&confusedLv 51 decade ago
But its working, and the economy is proof of that..
- Anonymous1 decade ago
Don't tell the democrats this, it'll ruin thier campaigns.
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- Anonymous1 decade ago
Any wonder why the media is becoming obsolete !
- michael mLv 61 decade ago
other than oil, it's in good shape