Markets Won't Tolerate Fiscal Recklessness

News and Opinion for Democrats Against Bush -- Part II

Markets Won't Tolerate Fiscal Recklessness

TomPaine.com Published: Nov 04 2003

Recovery Or Snow Job?
Treasury Secretary John Snow says the economy is turning around. The question is, "Which economy?"

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Excerpt--

    While the GDP grew 7.2% last quarter, 146,000 jobs were lost. Profits are up, but jobs are down. The CEO economy is doing better, but on Main Street the news is grim.

    More than 34 million Americans, including 12 million kids, live below the poverty line. Nine million people are unemployed. Just since Bush took office, 2.5 million manufacturing jobs have been cut or sent overseas. Meanwhile, displaced workers aren’t being trained for new jobs. Health care and college tuitions have seen double-digit increases since 2000. And according to the Federal Reserve, household debt, when compared to disposable income, is at a 20-year peak.

    Even the CEO economy is bound to stumble. The markets won’t tolerate the fiscal recklessness and heavy debt the White House has embraced. ...

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To get the facts, visit www.JobWatch.org. For more "snow job" analysis go to www.TomPaine.com.

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