Nice opinion piece by James K. Galbraith in Salon. Read it and use it against the numb nuts out there who think * actually cares if they live or die: (All caps for emphasis are mine)
http://www.salon.com/opinion/feature/2004/01/19/no_jobs/index.htmlJan. 19, 2004 | On Tuesday night, President Bush will use his State of the Union to claim that tax cuts have restored economic growth, and he may mention the stock market's rise last year. But the transcendent economic issue this election year isn't the growth rate. It isn't the stock market. It also isn't the budget deficit the tax cuts caused. And it isn't even the rate of unemployment. It's the number of people in this country who have decent work -- and the number who don't.
snip.
Don't believe the Bush administration's hand-wringing over its pathetic record on employment. The president's backers WANT a stagnant job market -- it keeps the help from getting uppity.
(SNIPPED CHART, NOT TO BE MISSED, USED FOR FOLLOWING)
Next, notice when the deep dive ends. That's right: It was just after Sept. 11, 2001. It's true that President Bush ought not to be blamed for the job losses of the Internet bust. But neither can he properly blame his troubles on Osama bin Laden: Job losses slowed down when the war on terror began.
Bush should be judged on the record after that -- on the creation of jobs in 2002 and 2003. After all, the recession officially ended in November 2001. How many new jobs did we get since then? An average LOSS of 22,000 jobs every MONTH.
SNIP.
So it is today on the economy. What does Bush want? He wants a growth rate high enough to get him through the election. That's obvious. After that, he doesn't CARE. His clientele -- the military contractors, oil companies, pharmaceutical firms and big media that control this government -- make their money on patents, contracts and the exercise of monopoly power.
SNIP:
Most important, monetary policy is toeing Bush's line. Alan Greenspan and his deputies were all over the economists' meetings in San Diego this month, promising that interest rates will stay down. Don't misunderstand me: This is the right policy. But for how long will it last? Low interest rates imperil the global dollar. The pressure to defend the dollar is out there. Will it prevail once the election is past? Remember: After November, George Bush WILL NOT CARE. (Remember,
Cheney told dorko that deficits don't matter. They really do believe the apocalypse is coming. There can be no other explanation.)
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Amazing, no?