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Pelosi Sour on U.S. Economy Despite Facts
With U.S. economic numbers on the rise and continued growth in many sectors, the Bush administration is rightly proud of the expanding U.S. economy. But that doesn't mean it is without its critics. Despite the lowest jobless figures - 4.7 percent unemployment - in 4 1/2 years, and the continued rise of consumer confidence, a prominent Democrat says Bush is leading the American economy in the wrong direction. "President Bush should ask American families, millions of whom are struggling to make ends meet and going deeper in debt, if they believe that there is 'an economic resurgence that is strong, broad and benefiting all Americans," said House Minority Leader Nancy Pelosi on Friday.
Story Continues Below Pelosi claims the Bush tax cuts that have led to economic growth are only benefitting a certain segment of the U.S. population. "With tax cuts for the wealthiest few causing red ink as far as the eye can see, incomes falling, and our jobs moving overseas, the economic record of President Bush is dismal for middle-class families," Pelosi said. "The Bush economy is going in the wrong direction: gas prices are sky-high and health costs are an overwhelming burden for too many Americans." Although Pelosi claims jobs are going overseas, there appear to be quite a few people gainfully employed in the United States. Friday's statistics released by the U.S. Department of Labor show, according to The Associated Press, "employers added 211,000 jobs in a springtime hiring burst that benefited almost all sectors of the economy and lowered the national unemploment rate to 4.7 percent."
The accelerated economic expansion has put Americans in the mood to buy, as consumer confidence has risen for the second consecutive month and consumers are in a generally good frame of mind for spending and investment.
Still, Pelosi portrays the economy through a warped looking glass. "Democrats will not compromise our national security with mountains of debt owned by foreign governments, or undercut our domestic strength with an America that only works for the few. Americans are demanding change and Democrats have a better plan - an America that works for everyone." More Republicans are also employed in the House, Senate and White House, which may be the real reason why Rep. Pelosi is in such a foul mood about the nation's economic vitality.
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