Snow Concedes Economic Surge Is Not Benefiting People Equally

[papau]

Snow Concedes Economic Surge Is Not Benefiting People Equally

By Jonathan Weisman
Washington Post Staff Writer
Tuesday, August 9, 2005; Page A03

Treasury Secretary John W. Snow acknowledged yesterday that the fruits of strong economic growth are not spreading equally to less educated Americans, as he and the rest of President Bush's economic team prepared to meet today to discuss wages and income distribution in an otherwise surging economy.

The meeting at the president's ranch near Crawford, Tex., will be convened amid evidence that the economy is gaining steam and that voters are dissatisfied with Bush's handling of the economy. Snow and other administration officials say strong consumer demand for housing, cars and other big-ticket items indicates that the negative message voters are giving pollsters on the economy is belied by their open wallets.<snip>

<snip>"People are feeling vulnerable to global economic conditions," said Stanley Greenberg, another Democratic pollster. "The difficult labor market continues. There's a sense that they lack clout, an ability to command higher wages."

A study released yesterday by the nonpartisan Congressional Budget Office focuses on "unprecedented" declines in the workforce in the wake of the 2001 recession that continued through early 2005. Job growth in this economic recovery has been substantially slower than previous recoveries, the CBO said.<snip>



http://www.washingtonpost.com/wp-dyn/content/article/2005/08/08/AR2005080801445.html

[Wickerman]

1. imagine that, Trickledown 2.0 has more holes than Windows ME

[okieinpain]

27. bad comparison, windows me is a hole. windows 98se would have

been better.

[Magleetis]

2. Its all good

if you are rich.

[Cha]

3. Didn't just say that on another

thread?

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=104x4294397

[xxqqqzme]

4. oh, it's the very wealthy

economy that's 'surging'. I've been wondering where all those glowing econmic reports were happening. It sure ain't here in middle class southern California.

[MaineDem]

5. Only the "less educated"? WTF!!!

I'm not seeing the results of an "improved" economy and I'm college educated. What is this horse crap?

Don't these people go to the grocery store? Have they seen the costs of items go up almost every week? What rock are they living under?

I am furious about this. I feel so helpless...so frustrated.

[Trillo]

24. Perhaps "less educated" in BushCospeak

means: unwilling to lie.

[HockeyMom]

31. Where do they find these people?

I know a man with a Masters in IT who has been out for two years. Oh, yeah, wonderful economy. He just got an $8/hour job at Home Depot stocking shelves.

He's lucky. :sarcasm: I only have an Associates Degree so those type of retail place won't even call me, i.e., Sears, PETCO, PC Richards, Bobs, supermarkets, etc. I have been out of work since February. Maybe that isn't long enough?

[VegasWolf]

41. "Less educated" = "Not Extremely Wealthy" - Education has no

bearing if one has rich parents. Look at bird-brain.

[Rose Siding]

6. Was he giggling when he said that?

Or just rubbing his palms together

[Toots]

7. I have an idea let's divide the Union into small groups without clout

That will fix em. on edit. My sarcasm is directed at the Teamster's not at you or your post.

[wishlist]

8. Interesting slant that " less educated Americans" aren't benefitting

Instead of saying that economic benefits are not reaching less wealthy or less privileged, instead Snow says that they are not reaching the less-educated. This slant implies that it is your own fault if you aren't doing well in this economy because you haven't gotten a good enough education. I'm sorry but millions of well-educated people are not reaping any benefits of this "great" economy because we either cannot find good paying jobs or else our hard-earned wages and pensions simply don't keep up with the escalating costs of medical care, fuel costs, housing and other living expenses.

[LisaLynne]

14. Right -- that's the perfect way to sell it to those who still ...

support * even though they're suffering in this economy. The people who aren't doing well are failing because of their lack of discipline in getting a decent education. If they had worked harder, they'd be able to take advantage of this economic boom. What baloney.

[rman]

9. * doesn't care because the have-nots are not his base,

but rather the haves and have-mores are his base.

http://montages.blogspot.com/2004/07/haves-and-have-mores.html

[earth mom]

36. *s base is the HAVE IT ALLS

'Cause when they are through there will be NOTHING left.

:grr:

[nookiemonster]

10. Less educated????

Fuck you Snowjob.

:banghead:

[Supersedeas]

12. sad how the less educated must struggle so...very sad indeed

[SammyWinstonJack]

15. Looks like Snowjob just insulted a portion of

pResident Shitferbrains' red state voting base. :evilgrin:

[Kipling]

11. Which would you rather have:

1) The top 20% getting $5000 more a year.
2) Everyone getting $1000 more a year.

I'd go for option 2. The average rightist prefers 1.

[electropop]

17. The average rightist prefers

The top 2% get $50,000 more a year.

[Bush_Eats_Beef]

13. Time to go to Junior College, get educated for the "new job market"

:sarcasm:

"Administration officials now acknowledge they have a problem, at least with voters' perceptions. Bush will huddle with his Treasury, agriculture, labor and commerce secretaries, his budget director and his two top economic advisers to review the farm economy, overall economic growth, wages, income levels, income distribution and trade, Snow said."

[Weembo]

16. No kidding! I thought it was tall cotton for everyone!

[AllieB]

18. What economic surge?

There have been massive layoffs in my area over the last 12 months, and the region as a whole has not seen the influx of capital that was evident in the '90s. We are also experiencing record housing prices, but I wonder how people can afford them when they're making less money than they did only 4 years ago.

[cliss]

19. I'm surprised he admitted this.

John "Snowjob" Snow isn't known for telling it the way it is. He's much more likely to spin stuff, exaggerate, outright lie.

And has anybody looked at him lately? God, he's vile. He's ugly to look at, just reeks of corruption.

Just the man for George Bush. And just think, his signature is on our dollar bills.

[nookiemonster]

22. I know I'm digressing, but he is one scary looking MF.

Compare:




No offense to Fred Gwynne. RIP.

:silly:

[nookiemonster]

23. Or perhaps, this is more apt.

Compare:



No offense to Al Lewis. RIP.

:dunce:

[The Donkey]

38. Close, but I think this is the one!

[martymar64]

40. Last I checked, Al Lewis is still alive!

n/t

[nookiemonster]

43. You are correct sir. My apologies.

http://en.wikipedia.org/wiki/Al_Lewis

If I keep making shit up, DU folks are gonna think I'm a FReeper.

Or Rush Limbaugh

lol

[AndyTiedye]

20. All the New Cars I See are Priuses

and the demand for housing is coming from speculators, not consumers.

[trogdor]

21. Wow, what blue state paradise do you live in?

We were on vacation in Provincetown, MA, and saw lots of Priuses (and smallish regular cars), but back home in central NY, it's big-ass trucks as usual.

[AndyTiedye]

25. San Francisco Bay Area. Home of America's Highest Gas Prices

There are the usual behemoths too, but most of them are a few years old.

[Rainscents]

26. It looks another snowjob cover up again!

These assholes won't tell you the real truth as always.:banghead:

[oscar111]

29. Wages lower than when reaganomics began

.. adjusted for inflation.

So wage-earners benefit zero from
the current economy's gifts to the "top".

Reaganomics is thus a flop. Toss reaganomics. A flop for 25 years now.

===================
Least benefit goes to.. those caught in the

14 million Job Shortage.

Zero earned income

Till there is no Job Shortage, the economy cannot be called acceptable. Not even minimally acceptable.

Today's US economy is a failure. Will remain a failure till it wipes out the Job Shortage.
WPA needed to do that. See sig.

[converted_democrat]

28. .....

[EVDebs]

30. They're raising interest rates to keep the Chinese floating their boat

by buying Treasury securities so more home loans made on outrageously high "free market" prices can be made. No savings per se in the US because home equity is the psychic savings bank...

When the bubble bursts it'll all hit the fan. The coastal donor states, blue and where over half of the nation lives-- within 50 miles of the coast--are being speculated on by the red states who have sprawl potential.

See Paul Krugman's article Living in a bubble
http://www.iht.com/protected/articles/2005/08/08/opinion/edkrug.php

[Straight Shooter]

32. Those with less education have ALWAYS suffered the most, economically

That's a stupid remark from a so-called educated man. Poverty is very often a vicious cycle. All the programs which have been designed to break that cycle are now being broken by the "haves" and "have mores" thanks to the greed which runs rampant amongst the top 5% of America's privileged elite.

I can look back on my life and see plenty of opportunities for taking advantage of people that would have brought me financial rewards. It isn't a lack of education that's keeping many of us down. We just aren't willing to compromise our integrity to get ahead.

[earth mom]

37. Exactly. The difference is the left has ethics and integrity...

the right has greed and lies... oh and of course the kind of "morals" that their Jesus would lose his lunch over. :puke:

May they all rot in hell.

[Voltaire99]

33. Good analysis of recent job "growth"

...from Reagan's asssistant treasure secretary, no less. Paul Craig Roberts is a conservative who has seen the light.

The piece is titled "Watching the Economy Crumble," at www.counterpunch.org

[EVDebs]

35. Paul Craig Robert's quote from that article is RIGHT ON TARGET

""In the 21st century job growth in the US economy has consistently reflected that of a Third World country--low productivity domestic services jobs. This goes on month after month and no one catches on--least of all the economists and the policymakers.

Economists assume that every high productivity, high paying job that is shipped out of the country is a net gain for America. We are getting things cheaper, they say. Perhaps, for a while, until the dollar goes. What the cheaper goods argument overlooks are the reductions in the productivity and pay of employed Americans and in the manufacturing, technical, and scientific capability of the US economy.

What is the point of higher education when the job opportunities in the economy do not require it?""

[jbane]

34. I heard if you go to the local foodbank...

You can get some free cheese, what do you mean not benifiting everyone!

[w8liftinglady]

44. The Goodwill store near me has expanded to twice the space

..it is always busy...even in my "prosperous" suburb of Dallas.

[Megahurtz]

39. "Otherwise Surging Economy"

:spray: What a bunch of Bullshit!

[54anickel]

42. Snow Gloats Economic Surge Is Not Benefiting People Equally

Things are moving along very well, just as planned.