Bushnomics lead to a strange placeIf 2004 has good prospects in this region, the longer-term national picture is muddled at best. It is true that Wall Street is in the midst of a rally. But the long term forecast for working Americans is not encouraging.
The economic policy of President Bush is based on tax cuts. Moreover, the administration has saddled the states with mandates such as the No Child Left Behind Act without any financial assistance to carry out the added workload.
Over the past two years, more jobs have been lost than created. That hasn't happened since the administration of Herbert Hoover.
President Bush's job creation program is tax cuts and perhaps war. Some weeks ago The Oregonian carried news of Freightliner's big military contract to build trucks for the Iraq War. While this was not unwelcome news, one had to wonder about the multi-billion financial commitment to a Middle East nation while U.S. jobs are moving overseas on a weekly basis.
Since the president gets his news from his closest advisers, he may well be ignorant of all this. In the White House bubble, the stock market is the economy. But to working Americans trying to feed their children, the economy looks much different.