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It's
The Economy, Stupid . . .
Remember
that phrase, repeat it often, and forward this list to your friends who
think the never-ending war is our only measurement of Bush and the GOP.
While Bush has been President:
- Unemployment
has risen from 3.9% to 6.0%;
- 42
States will or expect to make Medicaid Cuts;
- 41.2
Million People in America Have NO Health Insurance;
- The
number of Americans living in Poverty rises for first time in eight
years;
- Overall
economic growth at 1 percent, the lowest for any administration in 50
years;
- The
value of Americans' stock holdings down $4.5 trillion and a 30 percent
drop in the value of IRAs and 401(k) plans;
- A
projected budget surplus of $5.6 trillion converted into a deficit of
$400 billion;
- Bush
Budget Will Spend the Entire Social Security Trust Fund Over Next Two
Years;
- "Consumer
Comfort" has dropped from +20 to -20 in one year;
- 49%
of Americans Are "Dissatisfied With The Way Things Are Going in
the United States at this time," up from 29%;
- Bush
Budget Posted First Deficit Since 1997, Predicted Deficits Until 2005;
- 98%
of Pension Funds expected to be Under-Funded;
- "Consumer
Confidence" continues to drop;
- U.S.
debt will have "Major International Consequences."
How
much more proof do we need?
The
U.S. Needs A "Regime Change."
[BuzzFlash
Note: A
text emailable version is available here.]
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Sources:
States'
Budget Woes Fuel Medicaid Cuts; Poor Lose Coverage and Services
October 11, 2002
"Such
cost-cutting would have been unthinkable a few years ago, but now it
is part of a contraction of the nation's largest public health insurance
program. All but nine states have taken -- or are planning -- steps
to rein in Medicaid expenditures this year."
http://www.washingtonpost.com/ac2/wp-dyn?pagename=article&
node=&contentId=A9653-2002Oct10¬Found=true
Bush's
Broken Promises: Deficit
"In
February 2002, Bush released his budget for fiscal year 2003, which
included the first federal deficit since 1997. Bush's proposed budget
would result in a $106 billion in deficit in FY 2002 and $80 billion
in FY 2003. According to Bush administration estimates, the budget will
not return to balance until FY 2005. Worse, an analysis of the Bush
budget by the nonpartisan Congressional Budget Office (CBO) predicted
the deficits between FY 2002 and 2005 would be $62 billion larger than
White House figures."
http://www.democrats.org/brokenpromises/deficit.html
Bush's
Broken Promises: Social Security
"Bush
Budget Will Spend the Entire Social Security Trust Fund Over Next Two
Years. The Wall Street Journal reported that Bush uses 'all the Social
Security surpluses ... to fund the government for the next two years,
and to spend well over $100 billion of Social Security funds in each
of the following three years.'[Wall Street Journal, 2/5/02]"
http://www.democrats.org/brokenpromises/social_security.html
U.S.
businesses cut 43,000 jobs from payrolls in September
October 4, 2002
"The
U.S. unemployment rate dipped in September even though businesses cut
thousands of jobs from their payrolls, the government said Friday, as
the labor market continued its stop-and-go recovery."
http://money.cnn.com/2002/10/04/
news/economy/unemployment/index.htm
PollingReport.com,
National
October, 2002
http://www.pollingreport.com/national.htm
Living
on the edge
October 14, 2002
"...The
Youngs are among the 41.2 million people in America who have no health
insurance. New figures from the Census Bureau show that the numbers,
up by 1.4 million between 2000 and 2001, are rising again after a brief
dip at the end of the economically fat and sassy 1990s. And while the
bulk of those without insurance are the working poor, more than 13 million
uninsured people live in a household with income of at least $50,000
a year."
http://www.usnews.com/usnews/issue/021014/health/14uninsured.htm
Company
Pension Funds Facing Drastic Deficits
October 6, 2002
"According
to Merrill, of the 346 S&P 500 companies offering plans, 98 percent
are expected to be underfunded by year-end - by a total of $640 billion.
Its calculations are based on an 18 percent decline in stocks and 10
percent rise in bond yields, with plan holdings generally 60 percent
stocks and 40 percent bonds."
http://www.nypost.com/business/58960.htm
Global
imbalances are "unsustainable" says IMF
24 September 2002
"The
International Monetary Fund, which has added its voice to warnings that
sooner or later the growing external indebtedness of the US will have
major international consequences"
http://www.wsws.org/articles/2002/sep2002/imf-s24.shtml
National
Debt Chart
http://www.lafn.org/politics/gvdc/Natl_Debt_Chart.html
The
Amazing, Shrinking Budget Surplus
August 27, 2002
"The
Congressional Budget Office has slashed its forecasts of government
budget surpluses over the next decade by 80 percent in a report that
underscored the recent slide in the U.S. fiscal position and provoked
furious pre-election finger-pointing on Capitol Hill."
http://www.cbsnews.com/stories/2002/08/27/politics/main519956.shtml
Confidence
measures say consumer resolve should be faltering, and they just might
be right.
September 30, 2002
"Though
the nation's unemployment rate is still much lower than the 7.8 percent
peak it reached following the 1990-91 recession and the 10.8 percent
peak after the 1981 recession, job growth has been dead in the water
all year, following nearly 1.8 million job cuts between April 2001 and
April 2002.
"Until
businesses see a need to expand their production, they will see little
reason to hire more workers, meaning job growth could remain stagnant
for months, keeping a lid on consumer spending growth."
http://money.cnn.com/2002/09/27/news/economy/consumer/
Poverty
on the Increase
October 22, 2002
"For
the first time in eight years, the number of Americans living below
the poverty line rose last year. According to 2001 Census Bureau data,
poverty rates are higher than they were in the 1970s."
http://www.reporter-news.com/1998/
2002/texas/texas_State_edi1022.html
Joblessness
at 30-year low
May 5, 2000
"The U.S. unemployment rate tumbled to a 30-year low of 3.9 percent
in April, the government reported Friday, as worker-starved companies
raised wages and went on a hiring spree that created 340,000 new jobs."
http://money.cnn.com/2000/05/05/economy/employ/
If
the Economy Mattered
October 13, 2002
"In orchestrated speeches over the past few weeks, former vice
president Al Gore, Senate Majority Leader Tom Daschle and House Minority
Leader Dick Gephardt laid down the Democratic indictment of the Bush
administration's economic record."
http://www.washingtonpost.com/ac2/wp-dyn?pagename=article&node=
&contentId=A14938-2002Oct11¬Found=true
Public
Sentiment Worsens on Economy
October 28, 2002
"Public attitudes about the economy have worsened significantly
over the past month, according to the latest CNN/USA Today/Gallup Poll.
Now almost six in 10 Americans (58%) rate the economy as poor, while
just four in 10 (41%) rate it as good."
http://www.gallup.com/poll/releases/pr021028.asp
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Let
BuzzFlash know
if we missed anything. Just like our list of Demands,
we'll refine and rebuild this list until it's complete, clear and an unquestionable
indictment of just how bad Bush is for the U.S. economy and our lives.
BuzzFlash
thanks Gloria Lalumia
for helping collect this data.
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