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April 12, 2005
Screwed

Seem like every time you turn around these days, George Bush is saying something about how the economy is growing. He loves to say that. You'll ask him about massive intelligence failures in the buildup to the Iraq War and he'll start prattling on about how the economy is getting better.

I try to avoid hearing him speak myself, but I've still heard him say this kind of thing over and over again.

What he fails to mention, however, is exactly who the economy is growing for. Here's a hint: It's not you.

For the first time in 14 years, the American workforce has in effect gotten an across-the-board pay cut.

The growth in wages in 2004 and the first two months of this year trailed inflation, compounding the squeeze from higher housing, energy and other costs.

..snip..

Meanwhile, corporate profits hit record highs as companies got more productivity out of workers while keeping pay increases down.

LA Times

Not only are corporate profits up, but CEO compensation is, like, crazy.

... the median salary and bonus for chief executives in office at least two years soared 14.5% last year to $2,470,600.

Wall Street Journal

Comments

Previous Comments

Gee, I have had more raises in the last five years than I had the previous 8. I am living much better today that I did just a short five years ago. It must be the choises that we make huh.

Yes, Mike, your particular experience negates the whole statistical analysis. Well done.

My point is that it is not only the rich that may be better off but that the normal working class person is also better off, to include those in high stress physical labor jobs that for eight years were ignored and used by the previous administration in pursuit of ill advised goals. Namely the military. You could try to argue that today's military is not being treated well. But you would be very wrong, especialy when compared to just a couple of years ago.

Good thing this administration doesn't use the military for any "ill-advised goals."

Wow. The argument that military people are better off during this administration is hard to fathom. I wouldn't argue that they are not being treated well. Except being shot at and targeted with improvised explosives and RPGs!

Although I certainly feel I'm personally better off economically than I was five years ago (must be making the right choises!), there are economic factors which negate some of those gains as well: the dollar's weakness against other currencies; the outsized boom of the real estate market; the reckless federal tax cuts that are causing our property taxes to increase and setting up the next generation for a fall; the increasing encroachment of our personal liberties. OK, the last one isn't an economic factor, but still...

Anyway... missed you at dinner tonight, Anthony! Liz brought Huckleberry his very first possession - a couple of onesies and cute little hat. There goes the plan for him/her to be raised as an ascetic monk from birth...

Again, Mike, this is not about your personal experience, or Luke's. This was a study. A representative sample of the population. Statistics. The "normal working class" is not better off, that's the conclusion of the study. Just because you are, or even if everybody you know is, that doesn't mean a thing.

I, for example, am not a Vietnamese woman. I don't know any Vietnamese women. Therefore, there are no Vietnamese women, right?

The studies that come up with these numbers are undertaken by the government. What are you saying? They're lying?!? Traitor!

And that "ill-advised goals" thing is priceless.

Eye of the beholder? Probobly. Is it easier for terrorists to target Americans abroad than to attack them in the U.S.? Yes. Does the war in Iraq give them a better target? Yes. So while WE send our troops into harms way this in some ways makes our country safer. The easier place for terrorists to try and kill Americans is Iraq and not the United States. And you may think that is a streech in logic, think about it a little more. We are almost inviting them to atempt attacks against the U.S. but far from our borders and our cities and our private civillian citizens. And while these people from Iraq, Syria, Chechnya, Iran, Afganistan, Phillipines, and other countries whose islamic extremists wish us harm, fewer are attempting access into the U.S.
Ill advised? No. I was refering to places like the Balkans, and Somalia where undertrained and ill prepared troops were sent in with poor rules of engagment and with out the right type of support for the mission.