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Any step forward in the job market is good news for America’s workers but America is still in the worst job recovery since the Great Depression, with 2.2 million private-sector jobs lost in the Bush presidency.
Families are still struggling in this economy. Yet President Bush continues to tell us that we’re on the right track. He doesn’t even see the problem, stubbornly insisting that the mission has been accomplished when 8.1 million Americans are still looking for work and long-term unemployment is at the highest in twenty years.
George Bush’s only strategy to make American businesses more competitive is to encourage them to outsource American jobs overseas. John Kerry has a strategy to make American businesses more competitive by creating better paying jobs here in America.
Bush hasn’t told the truth about jobs. In February 2002, he promised his policies would create millions of jobs. Today we are 7 million jobs short of his prediction. Last year he promised that his new tax cut would create 306,000 jobs per month. But we’ve seen only 94,000 jobs per month. At this rate, America won’t create the first new private-sector job until June 2006.
Bush’s failed economic policies have also resulted in fewer good paying jobs. The typical American family is making nearly $1,500 less per year. And they’re paying much more for “kitchen table costs” – the items that directly affects a family’s budget. Under President Bush health care costs have skyrocketed almost 50 percent, college tuition has gone up 35 percent and gas prices are up almost 25 percent. With oil prices about to hit $40 per barrel, families are going to be squeezed even more.
John Kerry is offering the American people a new economic plan which will help create 10 million new jobs in his first term as President. This plan makes America stronger by ending special tax breaks for companies that outsource jobs, helping companies and families address the skyrocketing costs of healthcare, and moving America towards energy independence
GEORGE BUSH’S RECORD ON JOBS
Jobs Are Down Under President Bush and People Are Going without Work for Longer
The economy has lost 2.2 million private-sector jobs under President Bush – the worst jobs record of any President since Herbert Hoover in the Great Depression.
The economy has lost 2.7 million manufacturing jobs under President Bush.
8.1 million Americans are unemployed. 22.1 percent of them have been looking for work for more than six months – remaining at the highest proportion in over two decades.
Jobs Are Well Short of President Bush’s Predictions
America is 7 million jobs short of the prediction Bush made in February 2002.
The economy has only created 94,000 jobs per month since the 2003 stimulus – well short of Bush’s prediction that the stimulus would create 306,000 jobs per month.
At this rate America won’t create the first net new private-sector job until June 2006.
Fewer Good Jobs, Lower Incomes and Rising Costs
On average, jobs in growing industries pay $9,000 less than jobs in contracting industries – that is 21 percent less.
The typical family has seen their income decline by $1,462.
The wage deficit is $172 billion – the difference between current wages and what they would have been given historical wage growth. That is $1,600 per household.
College tuition has gone up 35 percent in the last three years, the highest rate on record and pricing an estimated 220,000 students out of four-year public universities.
Family health premiums have gone up 49 percent in the last three years, the highest rate in over three decades.
Gas prices are up 24 percent since President Bush took office and oil is set to hit $40 per barrel.
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