The Economy Rolls On
by sarabeth at 6:00 am on February 26th, 2007 in Bush Man Date, EconomyIt’s definitely on a roll. The only problem is that it seems to be rolling over an unconscionably large number of Americans. An increasingly large number.
Here are the highlights of a McClatchy Newspapers analysis of the economy:
• The percentage of poor Americans who are living in severe poverty reached a 32-year high in 2005
• Nearly 16 million Americans are living in severe poverty as of 2005 (defined as a family of four with two children and an annual income of less than $9,903, or individuals who made less than $5,080 a year)
• The number of severely poor Americans grew by 26 percent from 2000 to 2005
• The median household income of working-age families, adjusted for inflation, has fallen for five straight years
• The share of national income going to corporate profits has dwarfed the amount going to wages and salaries
And here’s the White House version of the state of the economy. The economy is “strong and dynamic”. “American workers are finding jobs and taking home more pay”. “The president’s agenda will help keep the American economy flexible and dynamic”. If congress wants to “keep our economy growing” all they need to do is make tax relief permanent.
At what point does our anger over things like this explode? What does it explode into?
tom wrote:
socialism is bad, isn’t it?
Posted 26 Feb 2007 at 10:51 am ¶
cmg wrote:
not as bad as “shit on your citizens” capitalism
Posted 27 Feb 2007 at 3:56 pm ¶
tom wrote:
but isn’t that the only kind?!??
Posted 28 Feb 2007 at 1:33 pm ¶