Sunday, August 06, 2006

Excellent refutation of GOP talking points on the economy

There's very little I can add to this analysis from bonddad at the Burnt Orange Report. It's a great study of the fallacies that riddle the GOP talking points on the economy.

Even using the Republicans incorrect figures, the economy is only creating about 158,000 jobs/month. The economy has to create 150,000/month to keep up with population growth. In addition, the compound rate of establishment job growth for the Republican figures is 1.4% -- still the lowest in the last 40 years. In other words - using their numbers - the rate of job growth still sucks. The Republicans can't even rig this number to look good.
My bearish pessimism about the marketplace is directly tied to my distrust of the intentions and capabilities of this administration, and they have shown time and again that they are at best complete fuck-ups (Katrina, No Child Left Behind, Iraq) and and worst cynically manipulating the system (Social Security, balancing our budget, Medicare/Medicaid, the Patriot Act, signing statements, etcetera). Do you trust them with your pocketbook?

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