http://www.nytimes.com/2004/03/09/opinion/09KRUG.html

Promises, Promises


Sources: Bureau of Labor Studies; Economic Reports of the President, 2002,
2003 and 2004.


By PAUL KRUGMAN

Published: March 9, 2004

Despite a string of dismal employment reports, the administration insists
that its economic program, which has relied entirely on tax cuts focused on
the affluent, will produce big job gains any day now. Should we believe
these promises?

Each February, the Economic Report of the President forecasts nonfarm
payroll employment - generally considered the best measure of job growth -
for the next several years. The black line in the chart above (inspired by a
joint report from the Economic Policy Institute and the Center on Budget and
Policy Priorities) shows the actual performance of employment, both before
and after its peak in March 2001. The gray lines show the forecasts in the
2002, 2003 and 2004 reports. Notice that the February 2004 forecast, which,
as in previous years, is based on data only through the preceding October,
is already 900,000 jobs too high.

Economic forecasting isn't an exact science, but wishful thinking on this
scale is unprecedented. Nor can the administration use its all-purpose
excuse: all of these forecasts date from after 9/11. What you see in this
chart is the signature of a corrupted policy process, in which political
propaganda takes the place of professional analysis.


*** check out the dramatic graph in the article itself at the above link.
It demonstrates dramatically the real truth behind all of Bush's lies about
the economy during his administration.

From: "Sandman"
Date: 3/9/04 2:51 PM Pacific Standard Time
Message-id:

http://www.nytimes.com/2004/03/09/opinion/09KRUG.html

Promises, Promises


Sources: Bureau of Labor Studies; Economic Reports of the President, 2002,
2003 and 2004.


By PAUL KRUGMAN

Published: March 9, 2004

Despite a string of dismal employment reports, the administration insists
that its economic program, which has relied entirely on tax cuts focused on
the affluent, will produce big job gains any day now. Should we believe
these promises?

Each February, the Economic Report of the President forecasts nonfarm
payroll employment - generally considered the best measure of job growth -
for the next several years. The black line in the chart above (inspired by a
joint report from the Economic Policy Institute and the Center on Budget and
Policy Priorities) shows the actual performance of employment, both before
and after its peak in March 2001. The gray lines show the forecasts in the
2002, 2003 and 2004 reports. Notice that the February 2004 forecast, which,
as in previous years, is based on data only through the preceding October,
is already 900,000 jobs too high.

Economic forecasting isn't an exact science, but wishful thinking on this
scale is unprecedented. Nor can the administration use its all-purpose
excuse: all of these forecasts date from after 9/11. What you see in this
chart is the signature of a corrupted policy process, in which political
propaganda takes the place of professional analysis.


*** check out the dramatic graph in the article itself at the above link.
It demonstrates dramatically the real truth behind all of Bush's lies about
the economy during his administration.


Where does it say that current unemployment is roughly the same as the average
for the Clinton years?

Sandman wrote:

http://www.nytimes.com/2004/03/09/opinion/09KRUG.html

Promises, Promises


Sources: Bureau of Labor Studies; Economic Reports of the President, 2002,
2003 and 2004.


By PAUL KRUGMAN

Published: March 9, 2004

Despite a string of dismal employment reports, the administration insists
that its economic program, which has relied entirely on tax cuts focused on
the affluent, will produce big job gains any day now. Should we believe
these promises?

Absolutely. But they will be purely in government jobs and in jobs
created by the Mexican refugee job-grab that he wants to pass.

Note that all of the jobs last month were government. It's
like printing money - they can always make more government jobs
to fiddle with the figures. But the private sector they cannot
directly control. And it shows zero job growth for the first time
in many years.

*** check out the dramatic graph in the article itself at the above link.
It demonstrates dramatically the real truth behind all of Bush's lies about
the economy during his administration.

You don't have to tell me. Just try applying for a job in computers.
Seems the oh - HALF A MILLION displaced high-tech workers have created
a big glut. No way to compete when there are 20 Masters level people
applying for the job when you are fresh out of college.

So our middle-aged workforce takes the entry level jobs to pay
the bills and the newest and brightest workers... they bus tables
as they try to pay off immense student loans.

But SURE - let's bring MORE cheap labor in on work visas!