Macro vs. Micro Economics

Why the Bush Economy is not working for the American Family!

Published on June 12, 2006 By COL Gene In Politics

I have been accused of not acknowledging the GOOD Economic news. That is not true! I have acknowledged as the Bush administration has been telling us that we have had strong GDP growth. There has been some increase in productivity. Many Corporate profits have been UP and until to about two weeks ago the Stock market was UP.

Bush and his supporters say they can not understand WHY the public is NOT HAPPY with the way Bush has handled the economy. It is NOT that the administration has not told us about all the above GOOD Economic News. A new face at Treasury will not change the public perception. The answer is quite SIMPLE! This GOOD economic news that Bush points to is about the Macro economy -The overall issues like GDP Growth and Profit increases.

The issue for the masses during the Bush presidency is that his policies have NOT impacted the factors that the masses see week to week as they try to pay their bills. Things like Average weekly wage -What they have to spend. The cost to get to work and heat their homes. The cost of Food and Health care. Interest and the higher credit card bills they receive each month that are increasing because of the higher interest rates and higher balances. Some are loosing their long standing jobs to other countries in Manufacturing and High Tec. They read about the fact that the American Auto makers are loosing money and closing plants. They see the textile industry all but disappear in America. They read about the growing trade deficit and how much of it is due to China. They see their president turn a deaf ear to American Job Loss and how unfair China is in trade and currency matters. The see how many illegal aliens come across the border and depress the wage rates paid to Americans while President Bush does NOTHING for the past 5 years! They see the cuts backs in health coverage and pension plans by employers. They see the soaring cost of college for their children with no more money to pay for the higher expenses and cuts backs in Federal College assistance. These are the Micro economics of the economy. These are the issues that the Bush economic and tax policies have not improved or have made worse for the average workers. That is why the vast majority in America are NOT experiencing the GOOD Economic News Bush tells them about!

Comments (Page 3)

Island Dog

on Jun 15, 2006

Right col. Only the wealthy are doing better. How ignorant.

COL Gene

on Jun 18, 2006

IslamdDog

I am sure there are some near the upper end of the middle income bracket that are doing better, but ALL the poor and the vast majority of middle income America is NOT better OFF under the Bush/GOP policies. ALL the wealthy are MUCH better off then before Bush! That was the Bush objective-- His Base the Haves and the Have Mores!!!

Draginol

on Jun 18, 2006

This such a load of nonsense. The mean buying power of Americans has improved steadily when looked at over the long haul. We had a dip in 2000 to 2002 due to a number of factors (recessions, Internet bubble bursting, 9/11, etc.) but it has returned strongly to the traditional rise.

You can't measure "better off" by wage increase, you have to look at how much people are able to get.

What % of people's paychecks today are spent on food, clothing, shelter, luxuries compared to a decade ago or more? The answer is a lot less. Everything is so cheap now, especially when adjusted for inflation. Heck, even "record" gas prices really aren't THAT high when adjusted for inflation.

You've demonstrated time and time again that you don't really understand numbers. They're not your thing. I remember last year taking time out and trying to explain to you how the deficit was not caused by tax cuts. I provide links to the CBO and a number of our sources which included even nice friendly pie charts for people like you. And you just brush it off.

You'll never convince other people of anything as long as you demonstrate being obtuse towards facts that you find inconvenient.

The biggest problem with your argument is that even if you were correct -- that most Americans are worse off today than they were in 2000 -- you still haven't proven that this is somehow Bush's fault. There's no government policy you point to. You just blame Bush.

I can think of many Democratic policies that result in slowing down the ability of Americans to improve their lot. The #1 item would be the public education system in the United States that is, in my view, simply broken and untouchable thanks to the Democrats. Then there's high income taxes on EARNED wages which slows things down for the American economy.

So even if you were correct in your claim, and you're not, it's really absurd to try to blame Bush's "policies" (which you fail to name) as the cause.

COL Gene

on Jun 19, 2006

Dragional

I agree education is important and is not improving in the U S. Who started out as the “Education President” and got Congress to pass the "No Child Left behind Act"? Who has under funded his OWN education program by over $25 Billion since the law was enacted? Bush said this is the answer and then turned his back on his own program. How is that a problem the Democrats created?

I have pointed out how the continuation of a failed trade policy has harmed the economy, - lost jobs and closing of American companies
I have documented how the Bush/GOP tax and spend policy has created the huge increase in the deficit.
I have documented how Bush has increased the funding issues with Medicare with the Prescription Drug plan because he DID NOT FUND THE PLAN

Then there are all the things Bush has done NOTHING to resolve:

Social Security Funding
Border security
Enforcement of our laws
The Iraq war - That has sapped the BLOOD and MONEY from this country
His failure to improve the energy problems
His failure to follow through with his education program

All there are examples of how BUSH FAILED this country and you tell me I have not demonstrated that failure. You and some others that blindly support Bush and the GOP policies just refuse to look at the results of the past 5 plus years!

Island Dog

on Jun 19, 2006

but ALL the poor and the vast majority of middle income America is NOT better OFF under the Bush/GOP policies.

And you know this how? That's a big accusation to make that ALL of the poor are worse because of Bush.

His Base the Haves and the Have Mores!!!

I still see you are misquoting a joke. How sad.

Then there are all the things Bush has done NOTHING to resolve:

The typical col. You get hammered on your tax cuts accusations, so you switch to blame Bush for everything tactics.

COL Gene

on Jun 19, 2006

IslandDog

This is the FULL quote that was made by GWB at a GOP fund raiser on 20 October 2004 in New York:

"This is an impressive crowd - the haves and the have-mores. Some people call you the elites: I call you my base"

I wish this were a joke. He was dead serious and his policies have proven that was an accurate statement by President Bush!

No one hammered me on anything. The question you NEVER answer is since the Bush Surplus NEVER existed, and his tax cute were BECAUSE of that Surplus, why do we still have the tax cuts in place to return money the country DOES NOT HAVE?

Island Dog

on Jun 19, 2006

I wish this were a joke. He was dead serious and his policies have proven that was an accurate statement by President Bush!

It was a joke col. Only an obsessive Bush hater would think anything else.

You still haven't addressed post #33.

COL Gene

on Jun 19, 2006

The Bush statement may have been said in jest but it is also TRUE!

Here is your answer to #33:

The Bush statement may have been said in jest but it is also TRUE!

Here is your answer to #33:

This such a load of nonsense. The mean buying power of Americans has improved steadily when looked at over the long haul. We had a dip in 2000 to 2002 due to a number of factors (recessions, Internet bubble bursting, 9/11, etc.) but it has returned strongly to the traditional rise.
You can't measure "better off" by wage increase, you have to look at how much people are able to get.

People buy things with either cash (Average weekly wage) or credit. I have documented that during the past two years the AWW has dropped and it is FLAT since 2001. The personal credit situation is that Americans credit card balances are the highest in history. The new jobs that have been created during the past three years pay 21 % less then the jobs that were lost in 2001-2003. There is NOTHING in this that indicated people are better off under the current policies!

What % of people's paychecks today are spent on food, clothing, shelter, luxuries compared to a decade ago or more? The answer is a lot less. Everything is so cheap now, especially when adjusted for inflation. Heck, even "record" gas prices really aren't THAT high when adjusted for inflation.

Inflation is taking place for things most people CAN NOT escape. Housing, food, health care and energy. It is having an impact as can be scene from poor sales numbers for stores the low and middle income people frequent. The stores the wealthy shop at are booming because the rich are doing well

You've demonstrated time and time again that you don't really understand numbers. They're not your thing. I remember last year taking time out and trying to explain to you how the deficit was not caused by tax cuts.

I provide links to the CBO and a number of our sources which showed over a trillion dollars of the added deficit is from the tax cuts. I provided you the data from the President’s Chief Economic advisor as well as the Comptroller General that show the tax cuts are ADDING to the deficit. I have shown you that the Surplus that Bush claims existed was PURE BS!

Island Dog

on Jun 19, 2006

The Bush statement may have been said in jest but it is also TRUE!

No col. It was a joke. It's only true to you and the other loons who choose to believe it.

Island Dog

on Jun 19, 2006

The new jobs that have been created during the past three years pay 21 % less then the jobs that were lost in 2001-2003.

Link please?

COL Gene

on Jun 19, 2006

U.S. Metro Economies 2004-2005 Report that was provided to the U.S. Conference of Mayors in January 2006.

Sorry. Things said in JEST are often closer to the truth then more serious statements. The actions of Bush toward the wealthy and big business PROVE the truth of his comment on 20 Oct 2004.

bakerstreet

on Jun 19, 2006

"You've demonstrated time and time again that you don't really understand numbers. They're not your thing. I remember last year taking time out and trying to explain to you how the deficit was not caused by tax cuts.

Oh, yes, I'm sure Brad has people that does all that ikky 'numbers' stuff for him. The voodoo economics are on your end, Col. You are the one that has to take a slide rule to positive economic indicators in order to make them look negative. You are the one that has to weigh wages with a slanted standard to make an increase in wages a decrease.

If we did that you'd be mr. simple, demanding we look at the plain facts of the numbers. When they don't go your way, you have to run them through a wood chipper and re evaluate them and apply as much bias as you can to make them look bad. Come on.

Island Dog

on Jun 19, 2006

U.S. Metro Economies 2004-2005 Report that was provided to the U.S. Conference of Mayors in January 2006.

Provide a link that shows jobs pay 21% less.

Sorry. Things said in JEST are often closer to the truth then more serious statements. The actions of Bush toward the wealthy and big business PROVE the truth of his comment on 20 Oct 2004.

BS. You are just grasping for anything now. It was a joke col. For someone who claims to be a republican you sure sound like every other looney leftist out there.

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