5
Okt
2004

Four years of failure

by Joseph E. Stiglitz

Tom Paine

10/04/04

Many around the world are surprised at how little attention the economy is receiving in President Bush's re-election campaign. But I am not surprised: if I were President Bush, the last thing I would want to talk about is the economy. Yet many people look at America's economy, even over these past three and half years, with some envy. After all, annual economic growth -- at an average rate of 2.5 percent -- may have been markedly slower than during the Clinton years, but it still looks strong compared to Europe's anemic 1 percent growth. But these statistics mask a glaring fact: The average American family is worse off than it was three and half years ago.

... This is the first time since the early 1930s that there has been a net loss of jobs over the span of an entire presidential administration...

//makeashorterlink.com/?J16911279


Informant: Thomas L. Knapp
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