Bush Not Credible On The Economy
August 16, 2006
As the Bush Economy continues to stall, leaving millions of hard-working Americans in the cold, the American people continue to be fed up with Republicans' failed economic policies that have led to stagnating wages, rising gas prices and millions more Americans joining the ranks of the uninsured. They are also fed up with the rubber-stamp Republican Congress that has blindly supported these economic policies that have hurt millions of middle class families.
"Despite the President's rosy rhetoric and campaign slogans, the American people know the Bush economy doesn't work for them, as they've endured stagnating wages, skyrocketing health care costs, and record high gas prices," said Democratic National Committee Press Secretary Stacie Paxton. "Americans are also fed up with the rubber-stamp Republican Congress who has supported Bush's failed economic policies and refused to raise the minimum wage while also granting themselves large pay increases. Democrats remain committed to making sure that the economy works for all Americans, not just Republican special interests. Democrats will continue to fight to raise the minimum wage, reduce our dependence on foreign oil and create good jobs that stay here in America."
Bush And Republicans No Longer Credible On The Economy; The American People Trust Democrats. According to an editorial in today's Washington Times, "With the economy slowing, unemployment rising, inflation accelerating, inflation-adjusted average hourly earnings stagnating (for 80 percent of the labor force), consumer confidence falling, $3-per-gallon gas prices rising and the budget deficit hovering around $300 billion per year, the economy promises to play an important role in this fall's midterm elections." The editorial also pointed to the fact that Americans favor Democrats to get the economy back on track. According to the latest Newsweek poll, Americans trust Democrats by 53 percent to 34 percent to do a better job with the economy. Americans also trusted Democrats, 52 percent to 25 percent, to lower gas prices. Only 37 percent of Americans approve of President Bush's handling of the economy, while 61 percent disapproved, according a recent AP-Ipsos poll. [Washington Times, Editorial, 8/16/06; Newsweek, 8/12/06; AP, 8/11/06]
Household Income Declined by Nearly $1,700 Under Bush. For the second consecutive year, median household income declined: income dropped last year by $93-down to $44,389. In real terms, median household income has declined by $1,669 since 2000. [U.S. Census Bureau, 8/30/05; Table A-1, emphasis added]
Families are Paying Much More For Health Care and Education. For the past five years, health care costs have increased by nearly more than 70 percent, burdening hard-working families with added costs not covered by increases in their paychecks and driving up the number of uninsured to a staggering 45 million. Under President Bush, college tuition has gone up about 40 percent, even taking inflation into account. [Census, 8/05; KFF, 2005; College Board, 2005]
