I was watching Neil Cavuto this morning, and they did a segment on the status of the economy. Everyone agreed that in every way the economy today is better and stronger than during the Clinton administration. But if you only listened to the MSM asnd the Democratic leadership (wow..what a coincidence) you would think we were in the middle of a depression. Everyone (accept the Democratic party activist) acknowledged that the MSM and the Democratic leadership were mischaracterizing the economy, especially when you compare the coverage of today to the coverage during the Clinton administration. The Democratic operative keep harping on the fears of workers, (and someone responded with a great line: "The only people who are scared are those listening to the Democratic leaders"), and spouting typical class warfare talking points.
The truth is, our economy is stronger than ever, and every measure from unemployment, to mortgage rates, to interest rates in general, etc is at historically good levels.
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Now I'm not 100% sure of the source of the data so if you have a better source for umemployment please post the link...that being said
1997 4.9
1998 4.5
1999 4.2
2003 6.0
2004 5.5
2005 5.8
How is that getting better? I do understand that there is an inverse relationship between inflation and unemployment. So are you saying if you have a job the unemployment rate is good?
According to the U.S. Dept of Labor, the unemployment rate for Jan 2006 is 4.7%, for Feb. 2006 it is 4.8%. For some reason, they don't have annual statistics. http://www.bls.gov/
However there is this from the Bureau of Labor statistics. http://www.bls.gov/cps/prev_yrs.htm:
1993 6.9
1994 6.1
1995 5.6
1996 5.4
1997 4.9
1998 4.5
1999 4.2
2000 4.0
2001 4.7
2002 5.8
2003 6.0
2004 5.5
Pres. Clinton's overall average: 5.2%
Average for the first term: 6.0%
Pres. Bush's average for the first term: 5.5%
So at this point, Pres. Bush had a better unemployment numbers for his first term, even after enduring 9/11 and it's effects on the economy.
Most economists agree that at sub 5% unemployment, anyone who really wants a job can get one.
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