I'll bet you didn't know that the U.S. economy, for the past 5 years has seen incredible, almost unprecedented growth. Unemployment has been hovering at around a low 4 percent, inflation has been almost non-existant, most stocks are rising at healthy rate (not an artifical boom like in the 1990's), and the GNP (gross national product) of the U.S. is at record highs. Going further, home sales are way up and the percentage of Americans who own their own home is at record levels. Also, salaries are up at every level of the employment scale. Minority-owned businesses are seeing unprecedented levels of success.
Yet, as I stated above, I bet you didn't know that. Why do I say that? Because the American Research Group's latest monthly survey found 59 percent of Americans rate the economy as bad, very bad or terrible.
What we see in the news today regarding jobs are stories of how are jobs are being shipped to India. Newspeople are quick to report on rising gasoline prices and how that is going to financially hurt us. Yet, these same journalists are reluctant to report any good news. They don't report that we are better off with a great economy and $3.50 a gallon gas prices than with $2.25 a gallon prices with a lousy economy.
I never want to blame a president of the federal government too much for a bad economy. I also never want to give too much credit to them when the economy is good. But come on, let's give them some credit here. It's obvious to me that the reason the media is so reluctant to report good economic news is they don't like the current administration and they don't want to give any credibility to the fact that much of this economic success is attributed to Bush's tax cuts. After all, before the Iraq invasion, the tax cuts were the principle point of attack against the president by the left. Heaven forbid they admit to being at all wrong about them.
U.S. payrolls jumped by 243,000 in February
Job Growth, Wages Send Mixed Signals
I'm starting to see at least some reports of the good economy from mainstream media sources, that includes the normally very liberal L.A. Times. Even in the Times article, though, they caution that the economic boom may be temporary, which of course it is, but they had to put some negative spin in there.