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Originally Posted by Azure
Low job growth? What the hell are you talking about?
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Ah yes, the boy from Pincher Creek (speck of fly**** on the map, Alberta) is an expert on the American economy. Always good for a laugh.
The White House job growth numbers are very misleading. Yes, job growth has taken place, in certain sectors. That job growth does not take into consideration the offshoring and exportation of jobs to foreign markets. All it does is look at the number of jobs created, not the numbers lost overseas. As well, those numbers don't look at the type of jobs being created. In reality, the jobs being created at low paying, service and retail industry jobs. You have people in America, who were making $70-80,000 a year watching their jobs go over to India or China, or where ever, and then being forced into jobs that pay them $20-25,000 a year. The net job loss factor is zero, but the harm to the economy is very evident.
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Plus, the GDP has grown 4.8% in the first quarter this year. Including an average 3.5% in 2005, highest in the industrialized world.
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Another midleading stat. Most of that growth is focused on a couple of areas, and that is defense industry focused for the most part. Sadly, that grown is off of the back of the tax payers. Those number indicate that Paul (companies like Halliburton for example) is being paid from dollars stolen from Peter (the tax payer). All of that money being spent in Iraq is inflating the bottom line. Its a classic Enron financial manipulation. The GDP is being inflated by tax dollars being spent in a stream that is used to calculate the growth. What's the net result for the average American?
Look no further than the housing boom (and now bust) for proof of the manipulation. The Republicans were all so proud of the huge numbers in housing starts and sales that were going on, and promoting it as an indicator of a strong economy. Sadly, the bottom has fallen out of that boom and the truth has come out. A large chunk of that housing boom was because of the rich purchasing second and third homes, or investing in new homes hoping to make a quick buck. It worked for a short time, until communities (like mine) started putting in covenants that restricted rentals and required people to spend X days a year in dwelling. That put a halt to the unsustainable inflation and the bottom fell out of the false market. It was all a manipulation, and now Americans in many regions are struggling to deal with the consequences.
No conspiracy theory required. The White House is using stats to try and buy themselves some good press. Its been that way for years. The GAO will publish the real numbers in a year, and the truth will come out then. What the White House has to say is irrelevant, as its a manipulation of data for specific purposes. Oversight will tell us how truthful these numbers are, but that won't happen for a year, and by that time the public will have forgotten all about this.