On the economy

[weaktwos]

Some may say that the economy is booming. However, when the middle class is shrinking, I beg to differ.

Wages are on the rise in the home stretch to the election, but Fact Check has some information that shows we're worse off than before Bush came into office.

Comments

Re: Trying desperately...

[brittadotcom.livejournal.com]

I agree you cannot ever pin all the economic issues on the president or even the party in power. I also agree that conversely credit cannot be deserved - I don't think pinning the boom on Clinton is warranted either..or even Reagan as so often happens...but I also agree that the economy was headed south before Sept 11th, which then just gave it the extra push to dive much further down. The dot-com bust was already starting by December 2000/Jan 2001, which led the charge. My personal stock portfolio was already taking a hit pre-Sept 11th for sure.

Just as an example, my company's SECOND round of layoffs (first were in May 2001) were obviously originally scheduled for the week of 9/11/2001, since there was an all-hands company meeting already scheduled then that was postponed, and two weeks later (enough national mourning time to be back-to-usual, plus I'm sure they were bleeding money in the payroll with end of quarter looming on Sept 30th), the day after the layoffs happened, we had the all-hands explaining why to those who were left...talk about emotional suckage! Even for those of us who kept our jobs, it felt like kicking us when we were already down from the national tragedy...

IMO, the economy in general is slightly better than we were a couple years ago, but I don't think Bush can take any credit, even though I know he's trying...but also he shouldn't be blamed for the downturn either...