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Thursday, August 31, 2006

The Star Fib: Unable to Call a Duck a Duck

--posted by Pete Arnold on 8/31/2006

Pete here again. Man, the Star Fib really chapps my chode. I swear they speak out of ignorance just to tick me off:

During a meeting last week with his economic advisers, President Bush took a break to pose for pictures and tell reporters, "things are good" for American workers and small businesses. We don't know if he was speaking from ignorance or a sheet of talking points, but it's clear he didn't have a sneak preview of the income and poverty report released by the U.S. Census Bureau on Tuesday.

Okay, they were off to a good start with the first sentence, then the just had to keep going. So many things are wrong with this editorial, where should I start? The top I guess.

The annual report, the most comprehensive snapshot of Americans' economic well-being, shows that for the great majority of Americans, this is the weakest economic expansion since World War II.

What? The weakest? Not according to... Oh... Just about everyone else:

Washington Times

Admittedly, the current expansion took some time to take hold. But once it finally gained strength during the second quarter of 2003, it established itself as arguably the most steady, non-volatile expansion in 60 years.

MSNBC mentions "Obvious week spots" including construction spending and a slowing housing market but says:

The latest snapshot, released by the Labor Department Friday, was a bit brighter than expected and should ease any fears that the expansion that began in late 2001 is in danger of fizzling out.

Perhaps the Star Fib should say something like this:

The snapshot released was a bit brighter then we would have liked. Dispute constant attempts to weaken America through our power of journalism, The Anti-ChristMohammad president we have is still performing well when it comes to the economy.

The International Herald Tribune:

The U.S. economy grew more quickly in the second quarter than the government initially estimated and inflation was slightly lower, the Commerce Department
reported Wednesday.

They continue to say:

In the second quarter, spending on housing fell more quickly than the government had earlier estimated - at an annual rate of 9.8 percent - but the drop was more than made up for by a 22 percent rise in construction spending.

So what... A 22% rise on construction spending (according to a statement by an earlier source) is a week spot?

Wage-and-salary income surged during the first half of the year, the report showed.

What was that? "Surged"? Isn't that like the opposite of... What was it that the Star Fib said?

Median household income in 2005 inched up to $46,326

Inched up? That doesn't sound as impressive as "surged" does it? I guess when the failure of the United States helps your political cause... It’s best not to "Dramatize" the positives, right? I mean, with all this "inching" along, people must be having a real crap time trying to pay for bills and what not, right?

That's not what the Heritage Foundation says:

The economy's performance since the 2003 tax cuts went into effect has been stunning. The unemployment rate has fallen to from 6.3 percent to 4.7 percent—well below the historical average. Companies and entrepreneurs have created 5.7 million new jobs, including another 128,000 in August. And the typical unemployed worker now needs three fewer weeks to find a job than in June 2003.

The 2003 tax cuts lowered taxes on savings and investment, making it easier for workers to save for the future and reducing the cost of investment. The consequences have been dramatic. Since June 2003, investment in the economy has surged by 28 percent in real terms and is higher now than during the late 1990s. The stock market has also recovered, with the Dow Jones Industrial Average up 2,500 points in since June of 2003. With tens of millions of American workers owning stocks through 401(k) plans, these gains have been broadly shared throughout the economy.

Time to Celebrate President Bush was right.
American workers do know better than the government how to spend their money. The economy has surged since the 2003 tax cuts took effect, and these gains continued in August, with unemployment continuing to fall as the economy adds more jobs. This Labor Day, American workers can relax while enjoying more of their hard-earned money and the freedom and opportunity that lower taxes allow.

The Bush tax cuts? Isn't that just a Conservative cover-up for Big Business something-or-other? I know it’s hard to believe, but the largest cut went to the lowest bracket (from 15% to 10%, which is a 33% cut).

Look it up if you doubt it. So with all this Conservative Propaganda Good News, what does DNC House Leader Nancy Pelosi have to say? Interestingly enough, she did have something to say, back on 8/4/06:

As bad economic news for middle-income families living paycheck to paycheck adds up, Republicans continue to play politics with the economic well-being of millions of families.

Huh. Apparently reporting good news is "Playing Politics." I'll have to remember that one.

In addition to the "current economic state"...

  • Over 5 million new jobs being created can be blamed on President Bush.
  • Unemployment at 4.7% can be blamed on President Bush.
  • GDP along at 4% can be blamed on President Bush.
  • Business spending up 25% can be blamed on President Bush.
  • Per capita after tax income up double digests can be blamed on President Bush.
  • Revenue flowing in more then 386 billion more then 3 years ago can also be blamed on President Bush

I went on the only vacation I could afford since my wife and I had our honeymoon 5 years ago! Do you know what I see? I see "Vast Prosperity." Just look around you, people. Does your current state of affairs tell you that the US Economy is going to crap? (If you are trying to sell a screenplay in California, don't answer that.)

Another question? Why does the left keep refering to information from only 4-5 years ago when it comes to the negatives of the Economy (like the poverty rate)?

I'll show you:

This chart is from the US Sensus Bureau. Notice the fact that the Poverity rate remains at an all time low? How could the number of people in Poverty go up or stay the same when the Poverty Rate doesn't change or goes down? I'll give you a hint: It has to do with Population Growth.

Remember: Bush isn't eating kittins. But the liberal media IS skewing the data. If you don't believe me, read that Star Fib report again, then look at my graph.

Operation: Learngasm Complete.

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