How would the economy be reported if Bill Clinton was still President?
Investors Business Daily had a great article on the growth of the economy over the last decade and how it has, and has not, been reported by the media.
"And new data out last week show we're doing pretty well. In the fourth quarter of 2006, total net worth — that is, everything people own minus what they owe — jumped 7.4% to $55.63 trillion. We've added as much wealth in the last decade as we did in our nation's first 220 years. It's an amazing boom — all the more so because hardly anyone talks about it."
But yet when was the last time you saw Katie or any of the other Mainstream Media "Stars" talking about this?
"When you do the math, it turns out the average household in America owns about $487,095 worth of stuff, free and clear. That's a big jump from recent years. As recently as 2001, average household wealth was $373,170. So in five years we've become a third richer — a truly amazing fact."
Seems all you hear is the gap between the "Common Folk" and the "Mega-Rich"... But its interesting how the "Mega-Rich" does not include Katie, Gore, John Edwards, or any of the "Stars" from Hollywood when they talk of the "Evil" Mega-Rich... Now there is the "Gap" they need to be talking about...
"Unemployment, at just 4.5%, is way below its long-term average. Real incomes are rising strongly. Inflation remains tame. Company profits — a measure of how efficient businesses are at using scarce resources — are at all-time highs. And, in addition to being richer, we live longer, healthier lives than ever.
Even people on the lowest rungs of the economic ladder have far more than they did a decade ago."
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