Our bad economy
>> Wednesday, December 01, 2004
We've all heard how bad the economy is from Democratic presidential candidates and the media, but why is it that a casual glance around the neighborhood tells a different story?
US economy grows 3.9% in third quarter
I think that one of the reasons, if not the main reason, for a less than 1% rate of inflation is the fact that the minimum wage hasn't changed since 1997. The unemployment rate is well under the historical average for the US. It's also well below European countries, many have twice the rate of unemployment. Why do many news stories still use the throw away line "despite the economic downturn" or something to that effect if the last time the economy the performed this well was in 1960? The only thing I can think is that the root cause for such labeling by the media is because Republicans control the White House and Congress. It's almost as if they are biased in favor of Democrats or something.
Just as a reminder, here's what I said about the economy earlier this year.
