Saturday, January 07, 2006

MR PRESIDENT, WHERE'S THE BEEF?

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.

2 comments:

Dus10 D said...

That is not very accurate. It is difficult for anyone to make a blanket statement about a country as vast as the United States; this includes you and the president. I think overall, the economy is doing better. No matter what, there will be devations from the averages... that is why they are called averages. There will be plenty of people doing better, and plenty of people doing worse. The opportunity is out there, however. I am living proof. But, you would call me a skilled worker. I wasn't when 9/11 happened, though. Further, I have a brother-in-law that is definately not a skilled worked (God bless him), and he is doing better... he doesn't even have his GED yet. He increased his wages by 25% recently... which isn't saying much, but he certainly outstepped inflation.

Further, you are leaving out the devistation that was caused by nature recently. Consider the economy despite what has happened... it IS quite remarkable that we are having any growth at all.

LETS TALK said...

I thank God that you and your brother-in-law are both employed and doing great. But I'm sorry, I dont know why you cant see what's going on in America, right now. There's lots and lots of people loosing their home, jobs and just going without right now. A lot of things are to blame, but if you would care to go to my site at www.letstalksomemore.blogspot.com I bring up why we are doing so bad and or what is to blame.