The crowing from earlier this week about real economic recovery faded in the face of exactly what I predicted: far fewer new jobs than any of the pundits expected, according to the Bureau of Labor Statistics. If, as was argued earlier this week by economists at investment firms excited about productivity numbers, jobs were the crucible, the paltry 57,000 new jobs during November reported today are flame suppressant on the economic kindling.
Many of the jobs were in hospitality, which always ramps up this time of year — those jobs and a lot of others will be gone after the holidays — yet the nation has accepted trillions in deficit spending in order to create a lousy 328,000 jobs since July. As a return on investment, the tax cuts are yielding the nation’s taxpayers far less then they need to. George W. Bush is as bad a president as he was a CEO, if you measure by return on investment. We’re faced with trillions in debt for what? For the wealthiest one percent President Bush thinks will save us through their investment activity. When the nation’s fate is handed to a very small group, democracy is destroyed.
This is a travesty of wealth transfer to Bush’s class, which represents a plutocracy in the making. Throw the bums out in November 2004.