Daniel Gross has a good article in the NYTimes today, talking about the low Bush rating on the economy. He attests correctly that good Economic Indicators are based upon Averaging, and essentially refers favorably only to above-average economic performance, while stagnant sectors are hidden. He does not go into the evaluation, but George W. Bush enjoys the same status as Herbert Hoover--doing the politically-correct economic measures of the Business Elite lobbyists, but ignoring the suffering of the common people. There are Those who would claim this equates to a vast distortion, but, in reality, We are talking about perception here--not truth as it translates into popular support.
Unemployment numbers still ignore the Disenfranchised Workers whose unemployment benefits have run out. Bush allowed American industry to offshore, and advanced Tax policy to make such Offshoring more profitable than domestic manufacturing. His administration continues to denude Welfare programs set up by his predecessors, especially those elements directed towards Worker retraining. He has done nothing to constrain Oil prices or the runup of Utilities Costs; this Author is still looking for a national Energy Board, whose sole purpose would be to negotiate for, and purchase, foreign Energy resources--such a Board being the sole entity allowed to import Energy resources, which it would sell on the open Domestic market. I am quite sure such a Board could get foreign Oil down to around $40/barrel. George W. Bush replaces such Activist policy with a hypocritical allegiance to Free Market theory when no one could even imagine those markets are not manipulated by aligned Market structures and vested interests.
This Author feels that the Republican Party will pay drastically for past Sins, the question remains only When? Reality states that approximately Half of the American labor force has seen Living Costs increase by over 20% in the Bush Presidency, while their Wages functionally stagnate. What has the Economists most concerned lay in the fact that an ever-increasing percentage of the Labor force is joining their ranks. I would suggest to Conservative politicians that Reagan has passed into fond memory, and that the dragons approach. lgl