John Kerry's Pessimistic View of the US Economy
By Michael Ashbury
The Kerry/ Edward team and the DNC have made outrageous claims about how the Bush Administration has damaged the US economy and made life worse for the average American. Let's look at some of these claims and the facts that are ignored:
CLAIM: A current Kerry/DNC ad states that George Bush has created the worst economy in 75 years!
FACT: That claim would bring us to 1929 and the Great Depression in the United States. Banks, factories, and shops closed, and farms halted production. Millions of people were left jobless and penniless. Many people had to depend on the government or charity to provide them with food. Unemployment at the height of the depression reached 23.6 percent in 1933. However, unemployment today in the US is 5.4 percent; often considered to be full employment by most economists. No banks, factories, shops have closed, or farms halted production in the 2004 economy. Does that resemble the Great Depression?
CLAIM: They say that we have lost 1 million jobs!
FACT: Such a loss would be less than 1 percent of the US workforce. Fed Chairman Alan Greenspan stated in his economic presentation before Congress, "A million American workers currently leave their jobs every week, two-fifths involuntarily.... A million, more or less, are also newly hired every week."
CLAIM: The Bush Administration has supported outsourcing!
FACT: While this is especially hurtful to those that have lost one of these jobs, he fails to keep in perspective that this loss has only amounted to 3-400,000 jobs out of a 138 million-job market. Forrester Research, a national market research company, estimates that outsourced jobs will rise to 600,000 by 2005 -- out of a total of 140 million workforce. Still less than 1/2 of 1 percent of the nations workforce.
The Kerry/Edwards team also fails to mention that the United States IN-Sources 5.6 million jobs, of which 34 percent are manufacturing jobs, with an annual payroll of $307 billion and paying these employees 19.1 percent more than their US counterparts.
CLAIM: The Bush Administration has made the US dependent on foreign, and especially Saudi oil!
FACT: John Kerry and his Liberal Colleagues have voted against every energy proposal to reduce the country's dependence on foreign oil.
CLAIM: The Bush Administration has created policies, which have squeezed the Middle Class!
FACT: Bush policies have:
- Lowered the taxes on the middle class
- Increased the child tax credit
- Eliminated the marriage tax penalty
- Reduced home mortgage interest rates to the lowest level in more than 20 years
- Reduced interest on personal credit
- Reduced the death tax
- Reduced taxes on dividends and capital gains, and
- Kept annual inflation at one of the lowest levels in recent years
CLAIM: The Kerry/Edwards administration will help small business owners while increasing taxes on all individuals making over $200,000!
FACT: A large percentage of individuals in the $200,000 plus income range are small business owners. Increasing their taxes will reduce their ability to expand their businesses, reduce hiring and negatively impact the economy, which is just coming out of recession.
John Kerry and the Democrats are either ignorant of the US Economy or they are trying to hide their Liberal/negative approach to governing this country!
By Michael Ashbury
The Kerry/ Edward team and the DNC have made outrageous claims about how the Bush Administration has damaged the US economy and made life worse for the average American. Let's look at some of these claims and the facts that are ignored:
CLAIM: A current Kerry/DNC ad states that George Bush has created the worst economy in 75 years!
FACT: That claim would bring us to 1929 and the Great Depression in the United States. Banks, factories, and shops closed, and farms halted production. Millions of people were left jobless and penniless. Many people had to depend on the government or charity to provide them with food. Unemployment at the height of the depression reached 23.6 percent in 1933. However, unemployment today in the US is 5.4 percent; often considered to be full employment by most economists. No banks, factories, shops have closed, or farms halted production in the 2004 economy. Does that resemble the Great Depression?
CLAIM: They say that we have lost 1 million jobs!
FACT: Such a loss would be less than 1 percent of the US workforce. Fed Chairman Alan Greenspan stated in his economic presentation before Congress, "A million American workers currently leave their jobs every week, two-fifths involuntarily.... A million, more or less, are also newly hired every week."
CLAIM: The Bush Administration has supported outsourcing!
FACT: While this is especially hurtful to those that have lost one of these jobs, he fails to keep in perspective that this loss has only amounted to 3-400,000 jobs out of a 138 million-job market. Forrester Research, a national market research company, estimates that outsourced jobs will rise to 600,000 by 2005 -- out of a total of 140 million workforce. Still less than 1/2 of 1 percent of the nations workforce.
The Kerry/Edwards team also fails to mention that the United States IN-Sources 5.6 million jobs, of which 34 percent are manufacturing jobs, with an annual payroll of $307 billion and paying these employees 19.1 percent more than their US counterparts.
CLAIM: The Bush Administration has made the US dependent on foreign, and especially Saudi oil!
FACT: John Kerry and his Liberal Colleagues have voted against every energy proposal to reduce the country's dependence on foreign oil.
CLAIM: The Bush Administration has created policies, which have squeezed the Middle Class!
FACT: Bush policies have:
- Lowered the taxes on the middle class
- Increased the child tax credit
- Eliminated the marriage tax penalty
- Reduced home mortgage interest rates to the lowest level in more than 20 years
- Reduced interest on personal credit
- Reduced the death tax
- Reduced taxes on dividends and capital gains, and
- Kept annual inflation at one of the lowest levels in recent years
CLAIM: The Kerry/Edwards administration will help small business owners while increasing taxes on all individuals making over $200,000!
FACT: A large percentage of individuals in the $200,000 plus income range are small business owners. Increasing their taxes will reduce their ability to expand their businesses, reduce hiring and negatively impact the economy, which is just coming out of recession.
John Kerry and the Democrats are either ignorant of the US Economy or they are trying to hide their Liberal/negative approach to governing this country!
