GWB's diet plan for America

GWB's diet plan for America
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Saturday, March 04, 2006 02:06 am

This story was first reported at: [ OLD LINK REMOVED ]
By Pee Wee on End Of Days Message Board.

It warrants further attention.


Snip from: GWB\'s Bread Basket Report

Bush\'s \'fine\' economy sees millions go hungry
David Nason
February 27, 2006

GEORGE W. Bush went to Milwaukee last week to talk more about America\'s addiction to oil. But before turning to his latest obsession, the President gave a precis of the US economy.

Bush declared the economy \"strong and gaining steam\" and rattled off the positives -- a healthy 3.5 per cent growth rate; unemployment down to 4.7 per cent; more than 4 million new jobs created in the past 30 months; home ownership at record levels; and after-tax income up 8 per cent since 2001.


The data give a different perspective of the \"fine\" US economy.

The consumer report showed that median net worth in the US had grown just 1.5 per cent between 2001-04 -- the period of the Bush administration -- compared with 10.3 per cent between 1998-2001.

The reduction was due mainly to a sharp rise in household debt -- particularly home mortgage debt -- and a decline in real wages. Adjusted for inflation, wages have actually fallen 6.2 per cent.

Wages falling this much in a period of low unemployment certainly does not augur well for the next jobs crisis, but there was more worrying news in the figures on savings and share market investment.

The number of families saying they had saved money in 2005 fell 3.1 points to 56.1 per cent while the percentage of families that bought shares directly or indirectly through mutual funds fell 3.3 points to 48.6 per cent.

Significantly, the reduction in stock ownership was the first recorded by the Fed since the consumer finance survey began way back in 1989.

But the most alarming news was in the growing number of people in Bush\'s fine economy who are hungry.

The Second Harvest report, using figures compiled before hurricanes Katrina and Rita, showed that 25 million Americans had been forced to get food from the organisation\'s network of food banks, soup kitchens and shelters in 2005, up 9 per cent from 2001.

The hungry included 9 million children (aged under 18) and 3 million elderly people.

The trend is reflected in data collected last year by the US Department of Agriculture, which found that more than 38 million Americans lived in hungry or \"food insecure\" households -- an increase of 5 million since 2000.

Second Harvest questioned about 30,000 food distribution agencies as part of its survey. More than 40 per cent of them said funding problems threatened their future work.

But the statistic that stood out most was the one that said 36 per cent of people who came seeking food lived in households where at least one person worked.

It means increasing numbers of working people in the US don\'t earn enough for their families to eat properly.

In the fine economy of George W. Bush, that is serious food for thought.