Americans Not Buying Bush’s PR Campaign On The Economy

Today, President Bush will continue his election year PR campaign, attending two fundraisers for vulnerable incumbent Republicans and giving a speech in an attempt to sell his failed economic policies. Democratic National Committee Chairman Howard Dean issued the following statement on the President's remarks on the economy:

"The Republican record on managing the federal budget is dismal. President Bush and the Republican controlled Congress have turned surplus into debt, hope into lost opportunity; they have become the party of borrow and spend. Americans simply cannot trust Republicans to spend their money wisely. Democrats are offering the American people a new direction which includes economic policies that benefit all Americans."

Household Income Declined by Nearly $1,300 Under Bush; Wage And Salary Increases Don't Cover Inflation. Although median household income increased by $509 last year, median household income has declined by $1,273 under the Bush Administration. And the failure of wage and salary increases to cover inflation has meant a real reduction of median income between 2000 and 2005 of 2.7 percent for households. [U.S. Census Bureau, 8/29/06; Table A-1; Center for American Progress, 8/29/06]

Full Time Workers Suffer The Most. The decline in workers' real income was especially pronounced for full-time, year-round workers. For men, median incomes fell by $774 from 2004-2005, and they have seen their incomes drop by $842 during the Bush Administration. For women, median incomes fell by $427 in the last year alone. Incomes in this group fell to their lowest levels since 1997 for men, and lowest level since 2000 for women. [U.S. Census Bureau, 8/30/05; Table A-2; Center for American Progress, 8/29/06]

African Americans And Latino Household Incomes Have Declined by Approximately $2,000 Under Bush. Real median household income decreased between 2004 and 2005 for African Americans by $757. Black households had the lowest median income, at $30,858 - down by $2,772 since Bush took office. Median income for Hispanic households was $35,967 in 2005 -down by $1,631 since Bush took office. [U.S. Census Bureau, 8/29/06; Table A-1]