Bush Economic Boom Continues into 2006
“Just as this economy is getting going, there are some in Washington who want to take the money out of your pocket. They think they can spend it better than you can.”
President George Bush
Economic Club of Chicago
January 6, 2006
President George W. Bush addresses an audience at the Economic Club of Washington, D.C., Wednesday, Oct. 26, 2005. President Bush is the first President to address the Economic Club, which was formed in 1986. (White House photo by Paul Morse)
With Bush’s approval ratings on the economy remaining low at 39 percent and the economy cranking in near record performance the Bush Administration was out promoting gains on Friday. The media has been mostly silent on the tremendous economic data since the Bush tax cuts took effect.
“It’s getting pretty hard for the critics to make the case that the tax cuts weren’t good for the economy,” said Cheney, speaking before machinists inside the hulking Harley warehouse.
It is sad that democrats have gotten such a pass from the media in spinning a gloomy economy (even in the AP article about this latest Bush speech).
Jayson at Polipundit continues doing the best job with the facts on the economy:
The Job Markets
Here are the key figures from 2005’s labor markets:
2,646,000 = total net jobs created.
2,019,000 = total net jobs created on payrolls of established cos.
3.1% = wage growth for lower-tiered workers.
5.4 = opening unemployment rate.
4.9 = closing unemployment rate.
(Compare to Harry Reid’s statements)
The effect of those tax cuts on total non-farm payroll employment can be illustrated as follows:
Total Payroll Jobs
May 2000 – 131.9 million.
May 2001 – 132.2 million.
May 2002 – 130.3 million.
May 2003 – 129.8 million.
May 2004 – 131.4 million.
May 2005 – 133.4 million.
Dec 2005 – 134.5 million.