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The Bush Economy Still Sucks for Most Americans

Posted by libhom Sunday, October 22, 2006

The corporate media keeps going on about “record stock markets,” but that pro-GOP spin is misleading. Stock markets generally go up in the long run. Record stock markets should be a fairly common occurrence.

But, that is hardly the biggest economic concern facing middle-class and poor families in our country. The job market still is weak. Salaries are stagnant. People still are having their jobs outsourced and losing jobs in corporate mergers that violate anti-trust laws. Americans are mounting up record debt just to try to keep up with their previous standard of living.

Most middle-class people in this country have counted on one cushion, rising housing prices. Now, real estate prices are falling, endangering far too many people financially.

While this is happening, the rich are getting richer. The overall economic indicators show mild economic growth, but the benefits are going to a small minority of people at the top. The tax and spending policies of the Bush regime are turning a mediocre economy overall to a trauma for the middle class and a desperate situation for the poor.

The corporate media avoid this subject whenever possible. Yet, this will play a major role in the midterm elections. This is a major source of discontent among independent and even some GOP voters.

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