Dubya's non-response to news about incomes and poverty
This AP story about the latest census report on incomes and poverty is sadly funny.
After nearly a decade of decline, the US poverty rate stood at 11.7 percent last year, up from 11.3 percent the previous year, which was the lowest level since 1974. More than 32.9 million people lived in poverty last year, 1.3 million more than in 2000. The median household income declined 2.2 percent to $42,228, after remaining flat the previous year. It was the first statistically significant decline in a decade. Median income is the point at which half of households earn more and half earn less.
Not too unusual given the recession and the increase in unemployment.
Dubya's response to the news:
But President Bush said he remains upbeat about the economy. ''When you combine the productivity of the American people with low interest rates and low inflation, those are the ingredients for growth,'' he said. ''But I understand we got a lot of work to do.''
The reason interest rates and inflation are low is because the economy is doing so poorly. Ask Japan how effective low interest rates and inflation are to improving the economy. And as for, "we got a lot of work to do", what work are we talking about? More "wag the dogs" and photo ops so that peope won't notice that there is no plan for improving the economy?
7:45:33 AM 
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