After the speech the President made in Chicago this week. I'm left with asking, where's the beef? The president said the Economy was doing fine, because of the tax cuts that have been made. He also base the cuts on a better unemployment rate for the month of December and I guess 2005.
Well I'm not one to burst your bubble Mr. President, but the growth of the economy is at 3.5% percent and slowing. Yes our wages grew at 3.1% percent, but lets not forget inflation grew 3.5% percent. The unemployment rate fell by a percentage point for 2005. If I'm not mistaken that leaves it at its lowest level since 2001 during 9/11.
I thought our President would tell it like it is, for once. Yes the economy is doing better, but not by much. Inequality of jobs are continuing to increase, just ask the guy out there looking for employment. What I'm saying is, what our president didn't say. Yes new jobs are out there, but they are going to the high skill workers and for the regular Joe out there, well good jobs are harder to find.
Our president, will not say this, he just makes everything look so great, when the average worker is catching it out here. For example, take the Home buyers and the fact that the president has said that the market is wide open for new or first time buyers. Well the mortgage bubble hasn't burst yet, but the ARM and other high interest loans are going out of reach for the first time buyer.
Just face it, with the interest rates going up now. The four-decade lows we enjoyed are out of here. Leaving ARMS and other type loans just about the same as a regular 30 or 15 year loan.
I don't know how much more of this; everything is OK, from this President we can take. Just look at the pension plans that are going up in smoke. IBM might be freezing its pension plan as has Delta and many other companies. I understand that new companies are not even offering pension plans.
So if you want to believe everything this president tells you and you are not yet feeling the punch of what really is going on. Then I say to you, go right ahead, but when things hit the fan for you, remember. I told you so.