Gallup: 70% of Americans say economy worsening

Since the ACTUAL economy is going along quite well*, where could people have gotten the opposite idea?

It couldn't be due to how the media reports economic news, could it?

Nah....

* Since the "Swamp" prefers to report polls on the economy, rather than actual statistics on the economy, I'll provide the link to the official stats: http://www.bls.gov/

Go there are you'll find (among other items) that unemployment is a low 4.5%, hourly earnings are up, and productivity is up.

Soon to come......This is Clintons fault.

I think the minimum wage law will have a big effect on consumer optimism. Some rising wages on the low-end will really help prop overall sentiment up.

The House has already passed populist, anti-gas price gouging legislation to show the American people it feels their pain, though rising fuel prices have little to nothing to do with oil company price gouging, according to experts.

I am reminded of a classic line in the movie Animal House:

"This situation requires a really futile and stupid gesture be done on somebody's part...and we're just the guys to do it!"

I can think of no better description of the Democrats.

When you look at the price of food these days there is no way that you can conclude that the economy is good. Of course most of the increase in goods and services is tied to the increase in the cost of fuel. Those who have investments in oil related business are happy.

"Soon to come......This is Clintons fault."

No, actually, we'll hear about the "malaise of the Carter administration" or "chappaquidick" as the culprits -- their favorite topics, besides the morality of homosexuality.

The economy is going "well" because the stock market is doing "well". As more and more large companies lay off American workers and outsource jobs overseas, it makes them more profitable and therefore makes them more attractive to investors on Wall Street. Unfortunately, Americans that don't own corporations or large amounts of stock, are starting to feel it big time. The middle class is supporting the wealthy. Just as one would expect in a country run by a government who's only concern is big business.

Little Johnny has a new car and his 401 K is going bonkers.What's the problem?

Pull yourself up by your boot straps people.

historically low unemployment

Most of my friends with teenage children say their kids can't find summer jobs because of all the adults working at the fast food joints and big box stores. So yeah, low unemployment, but we've got people with families to support who are working at minimum wage jobs.

Ah, wingnut talking points.

Here's the reality:

Having a job is not the same thing as having a good job.

Having a job is not the same thing as a secure job.

Having a job is not the same thing as a job with good health insurance.

Having a job is not the same thing as having a job with a good, secure pension plan.

So wingnuts, lay down those RNC talking points and think about reality, if you can.

Bruce -
The economic statistics you cite are but one measure of how the "actual" economy is doing. However, statistics can be very misleading. The obscenely huge amounts of money earned by CEOs and hedge fund managers can mask the fact that huge swaths of middle management jobs that paid good salaries have disappeared from American companies - however, "statistically" the income is the same (or better) than before.

Additionbally, while Wall Street likes to "pull out" the relatively volatile costs of food and gasoline from the "core" inflation numbers, the fact remains that the ordinary Joe on the street is impacted directly by these costs. (He can't simply not buy gasoline or food.)

From personal observation, and lots of reading, American society is becoming far less of a "three class" (Upper, Middle and Lower) society, and much more of a "two class" society (Upper and Lower). Historically, one of the strengths of American society was its three class system - particuarly the relatively large middle class (populated by high-wage, union, blue collar workers and lower- and middle-manager white collar workers). This middle class acted as a "societal damper" on the potentially cataclysmic swings (economic & social) within American society. However, given the trends in business and our economy over the last 20 years (computer-aided productivity, lower union penetration, "off-shoring" of white collar jobs, reduction in pension and medical fringe benefits for all workers [except government workers, its seems], etc.), I see the middle class eroding, with far fewer of the former middle class members rising upwards to the upper class than falling downward into the lower class. I fear for America's future, as wealth is continuously and inexorably being concentrated into the hands of fewer and fewer people - leaving many well-educated futher in the dust (much less the uneducated).

Living in suburban Chicago, I have seen firsthand the effect of our "dynamic" U.S. economy on large numbers of college-educated former middle managers (pick an industry, any industry) who have lost their previously "secure" jobs and settle for underemployment after long, fruitless job searches.

The bottom line: this economy is awesome for a few. It is not good - and downright bad for many more - despite what the statistics say.

Hate to say it but the poll shows how stupid many American people really are. It's President Bush's fault gas prices are up? If that's not ignorant I don't know what is. For people to fall for the b.s. the Dummycrats spew about how bad everything is going tells me we are turning into a nation of ignorant whiners. Our only chance to change these perceptions if we wise up and put either Rudy or Fred Thompson into office.

Of course the economy is not good - Bush will not put a stop to the gas companies charging outrageous prices for fuel so that they can make billion dollar profits year after year, but those are his buddies so he'll let them do whatever they want to. Healthcare costs have gotten out of control due to overpriced medication and over-paid doctors and hospital administrators - but then again these are Bush's contributors and friends so he won't do anything to help bring this cost down. Lots of Americans are losing their jobs because Corporate America has decided that they will ship jobs overseas in order to show larger profits and therefore the VP's and above get outrageous bonuses - Comapnies that do this should be penalized by extremely high import taxes and surcharges for selling their goods in America, but sending their jobs to other countries - but here we go again - they are Bush's cohorts and friends.

Does anybody see the problem here???? Too many high ranking people in Corporate America have friends in high places who protect them at the cost of the working class Americans.

"This situation requires a really futile and stupid gesture be done on somebody's part...and we're just the guys to do it!"

I can think of no better description of the Democrats.

Posted by: S. Sherman | June 19, 2007 10:50 AM

S. Sherman,
Don't be so narrow minded in your barbs. This classic quote can be attributed to 98% of the bloated flesh we have occupying the seats of law in Washington. They do nothing, except try to fill their portfolio's and attain power and control over the population. I dare anybody to point out any action, vote etc. that a politician has made in recent history that did not benefit him/her more than the people they lie about supporting. Kinda like the Soprano's. Only their "hits" on the American people are excused.

"Delta House Rocks!"

Good point Bruce... what idiots 70% of Americans are... even though their house is worth less, their food and utilities cost more, they can't afford to pay the increased interest rate on their student loans, their McJob pay increases don't keep up with inflation, and they need to take out a HELOC to gas up the car, they should stop whining and take solace in your all-telling narrow macroeconomic statistics.

This is how it works: When a Dumbocrap is in office, the economy is always good in the minds of the Dumbocraps.
When a Republican is in office, all the Dumbocraps believe the economy to be bad.
When Dumbocraps are in office and unemployment is low, then everyone has good jobs.
When Republicans are in office and unemployment is low, it's because everyone is working at Wal-Mart (though John E is still in mummy's and duddy's basement).
When Dumbocraps are in office and the stock market does well, that is good for everyone.
When Republicans are in office and the stock market is doing well (1982-1990 and again from 2002-2007), that is bad. It's about greed.
When Dumbocraps are in office and it's sunny, that is good.
When Republicans are in office and it's a sunny day it's bad because of global warming.
Ah, the weird, twisted alternative reality world that the Loony Left lives in!

Your a genius little johnny d. You just discovered that there's *gasp* partisanship in this country.

Replace "Dumbocrats" with "Republicans" and "Republicans" with "Dumbocrats" throughout your rant and.... VOILA!... it works the same! Shocker!

Don't you Trib people ever get tired of carrying water for the gougers? Sure, experts say the oild companies don't gouge-- oil industry experts who get their money from, gosh, oh, I dunno. OIL COMPANIES? Try looking into the vertical control the petroleum industry has over refining and distribution and say with a straight face that they don't manipulate the price at the pump. Go ahead. Oh what am I saying? This is the Trib. Of course you will.

I remember back when Gore was running again Dubya and gas prices starting to go up, talk radio pundits were calling it "Gore Gas". Hey--if the neocons blamed rising gas prices then on Gore, it is only "fair" to blame Dubya now. I agree with Doug Zook--just because someone is "working" or "has a job" doesn't mean the economy is swell. For people who were making $15/hour and are now flipping burgers at Mickey D's because their original jobs have been outsourced so CEOs can continue to make their obscenely high salaries, does not mean the economy is swell. Gas prices, food prices, healthcare costs, etc., etc. are rising and will probably continue to rise. If the neocons hailed Reagan as a genius for his work on the economy, we "loony lefty liberals" can certainly blame Dubya for what is happening today.

Bruce,
Your ideas intrigue me. I would like to subscribe to your newsletter.

Something that is being overlooked is how badly we all are being conned by both sides when it comes to education. One of the biggest issues facing our economy today and in the future is the fact that everyone is getting an undergraduate degree. There is no direction for many students when they enter college and many still go undeclared. College is great if you are going to get a degree in engineering, computers or finance but not so great in most other disciplines. Let's be honest, the average college grad today will work at a job that does not really require a degree. Do you really need a degree to sell crap over the phone?
Trade school is seen as a dirty word among educational circles and that is a shame. There are plenty of well paying trade jobs that go unfilled and can be obtained after a couple of years of training. Instead, everyone is going for that four year degree. Ironically many of these same people end up with debt for years to come and struggle to make ends meet DESPITE having a degree.
We need to reevaluate how we educate high schoolers and set up a system that compliments the economy of both today and the future.

David K. is such an uplifting person.

Thanks for brightening our day. You are what American is all about and why our people and economy is so resilient.

Also, John , enough about Bruce's newsletter. Either debate him logically or go home.

..."Your ideas intrigue me. I would like to subscribe to your newsletter."...

...sorry john, it doesn't come with pictures to color...

...(and anyone who would steal lines from Homer Simpson steals trash)...

JD...Your ideas intrigue me. I would like to subscribe to your newsletter.

You already do Bill R.

Do you know why the poll shows 70% of Americans believe the ecnomy is worsening?

Because it is worsening for 70% of the people...

Its misleading to mention the stock market and say a good stock market means a strong economy. Clinton's good economy gave us a good stock market with massive downsizing(lost jobs) and Bush has given us a good stock market with nassive outsourcing( low paying jobs,and or no health insurance).Sure, some people are getting rich.That's true.Im 'bi-partisan fed -up'!

I'm sorry JD.. was that not smiley enough for you? I guess I should be a true patriot like you and just quietly watch as our government provides less and less while costing more and more. So long as I'm invested heavily in Asian and South American equities (or oil) it'll be alright in the end anyway, right?

Send manufacturing jobs overseas, make no effort to improve and standardize education, and dilute the language and purpose of the nation....and reap what you sow. Self-interest and a third-world mentality. Mix that with a large standing army made up of disenfranchised enlisted people and what do you have? Hmmm....let's see.....Russia in 1917? China in 1948?

"...enough about Bruce's newsletter. Either debate him logically or go home."

Posted by: JD | June 19, 2007 2:09 PM

When has Bruce ever had an original idea? I've never seen him make an original argument. He's an experimental RNC droid that attacks the media and can occasionally cut and paste.

Of course the unemployment rolls are low. The folks who have been unable to find work for more than 3 months are automatically dropped from the statistics. Stop cooking the books. The country is in lousy shape and apologists do us no favor saying everything is coming up roses.

I work in a major bank that is making record profits, yet many of my coworkers are being laid off. Even though I may be doing well, I see others in my area that have lost or are in danger of losing their jobs. A search of job postings finds a lack of opportunities in my industry at anywhere near my level. This is going to make me feel nervous about the state of the economy. This is probably the case for most Americans. They feel their own job may be safe but only for now as many around them slide down the economic ladder after a layoff (or reorg). So it is not the news people read but the reality that they see around them. If you have lost your job, of course the economy is bad. But if you see people you know lose their jobs even though they are good performers, and your company is doing well, you are going to be pessimistic. That is unless you have crossed to the level where you win even if you "lose".

Note that contract jobs and temp jobs don't count in the employment statistics, so those who had to resort to those jobs because nothing else in their field was available (it's an easy way for a company to avoid paying any benefits) and go back unemployed aren't counted as unemployed either. My wife is in that category.

The 70% think the economy sucks because for them, it does. They're not stupid, they know exactly how their life has gone and when things are going well. For others, like those buying the $40,000 purses and six-figure jewel encrusted pens that were in an article in the Trib yesterday, the economy is obviously going fabulously. But that's not the majority, not even close to it.

The price of gas was $1.47 when former oilmen Bush and Cheney took office in January 2001. The Energy Department (controlled by Bush/Cheney appointees) provides the financial markets with the "numbers" on inventories, etc. that drive the oil traders. Remember the picture of Bush holding hands with the Saudi king on a trip to his ranch? Nevermind, I'm sure the sudden spike in oil fortunes since 2000 is just a coincidence.

Of course the unemployment rolls are low. The folks who have been unable to find work for more than 3 months are automatically dropped from the statistics. Stop cooking the books. The country is in lousy shape and apologists do us no favor saying everything is coming up roses.

I love a good party, bring on the bush girls and lets get naked in my greed swimming pool and everyone must get some.

Bruce? Wayne? n'cest pas?

AND WHERE IS THE BATMAN? HE'S AT HOME WASHING HIS TIGHTS! BRUCE? WAYNE? N'CEST PAS?

What the govt. is giving you David K.?

I think that's your problem David K.

I guarantee you that the left wing mantra you subscribe to isn't going to get you anywhere.

Good luck David K....and put down the Paul Krugman and Michael Moore for a while.

Where did I say anything about the government giving me anything, JD? reading comprehension?

What I said is that the government is costing (that is... spending...) more and more and providing less and less. I don't want the government to "give" me anything. I just don't want to "give" the government 25% of the fruits of my labor and get bankrupted social services, underfunded schools, OVERfunded military, and a massive budget defecit in return.

There's one thing the government IS good at doing with my money... spending a trillion dollars weakening our security, ruining our moral leadership position in the world, and driving up the cost of energy by creating neverending instability in the middle east.

That's a wonderful return on my investment.

David K.
Thanks for reminding me why I'm so glad I'm not a liberal.

Are you guys always this depressing?

What the F* are you guys reading? jeez....stop for your own good.

"The conomy is good...the Murhikn people juss dough'no it, yet." Bah!

Both parties chase cheap whores. They both want YOU !!! Your vote matters to them so they pander and beg for money and the power it buys.

David K.
Thanks for reminding me why I'm so glad I'm not a liberal.

Are you guys always this depressing?

What are you guys reading? jeez....stop for your own good.

Posted by: JD

Sooo. Let me get this straight JD. In absence of anything of substance to state to support your position, you resort to calling those who's opinions you don't like "depressing". That's cute.

Why don't you just go back to happily watching our leadership fail and leave this politics stuff to the adults.

Go play now. Wouldn't want you to get your ever-chipper mood ruined by serious subject matter.

It's not unrealistic to worry about the impermanence of the current job market, rising costs and falling benefits. I think that looking at what people are willing to spend makes a better indicator of how they really feel. People still seem to be willing to spend money on things they don't need, they're going on vacations, and they're still buying homes and hiring people to look after their kids and clean for them. If 70% of the population really felt like the economy was going down the toilet, they'd be hoarding money and any other durable goods they could lay their hands on.

I'd buy that 70% of the population has "some concerns" about what's coming down the pike and that 70% of us don't like paying for things at the rate we're paying while our salaries don't go up at the same rate -- THAT makes sense to me. But then, that's been the case since about the '80's. No news there.

david K. That is my point. I'd say 75% of "making it" in capitalism is attitude and frankly yours and other left wingers is continuously ....depressing.

Chameleons are unclean lizards. Take the two-bit American flag decal off your new foreign car because you can't have it both ways. It's the moral prostitutes that permeate America that ruin it for real citizens of all nations around the world. Hypocrisy is poison. You are weak and they know it!