Bush's economy is for the elite few: "It is easy to see why enormously rich businessmen believe more personal income and lower taxes are good for them. But what is good for an individual chief executive's wallet does not translate into being �good for business� or for the nation's economy.
What businesses and the economy need are full employment, or as full as possible, and strong consumer demand, generated by a combination of consumer confidence and fair compensation. The Bush-Cheney ticket is failing that test. They adopt �anything-goes-for-big-business� policies, continue to push for ever-lower tax rates for the wealthiest Americans, defend self-serving executive compensation packages and condone benign regulation of corrupt practices.
The latest sign of how what is really good for ordinary citizens and the economy is being flipped on its head is George W. Bush's spin on sluggish job-growth numbers. Now, he contends, that bad is good. In response to the far lower than expected employment numbers for June, he said: �Steady growth. That's important. We don't need boom-or-bust-type growth.
But when the number of new jobs created this year fails to keep up with the growth in the adult population - a trend confirmed by last Friday's job numbers for July - a little more boom and a little less steady stagnation would certainly be helpful."
- posted by geoff @ #