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  1. #1
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    Facts about the American economy

    JOB FACTS

    * Our Economy Has Created More Than 7.2 Million Jobs Since August 2003. Payroll jobs increased 167,000 in December alone, and have increased by more than 600,000 jobs in the past four months. January 2007 is expected to be the 41st month of uninterrupted job growth since recovery began in August 2003. (Bureau Of Labor Statistics, Including Benchmark Revision)

    * The Unemployment Rate Was 4.5 Percent In December. This is well below the 5.1 percent average rate for 2005, and below the average of each of the past four decades.

    * During 2006, Employment Increased In All But One State.

    * Real Wages Rose 1.7 Percent During 2006. This rate of growth is substantially faster than the average rate of the 1990s, meaning an extra $1,030 last year for the typical family of four with two wage earners.

    * Real After-Tax Personal Income Per Person Has Increased Over $2,800, Or 9.6 Percent during This Administration

    * Jobless Rates Are Down Among Most Major Groups. The unemployment rate dropped for each of the four educational-attainment groups, falling most among those without a high school degree. The jobless rate in this group fell 0.7 percentage point to 6.6 percent during 2006, and has fallen 1.5 percentage points over the past two years.

    * The unemployment rate fell sharply during 2006 among Hispanics and blacks to 1.1 and 0.9 percentage points, respectively. (Bureau Of Labor Statistics)

    * Workers Are Less Likely To Lose Their Jobs. The probability that a typical worker will get fired or laid off over the course of a month is now 1.1 percent, down from 1.3 percent in 2001. (CEA Calculation Based On Bureau Of Labor Statistics Data)

    * Workers Are Finding Jobs Faster. The median duration of unemployment declined during 2006, from 8.5 weeks to 7.3 weeks, close to its historical average. The number of long-term unemployed (those out of work for more than 26 weeks) fell by 263,000 during the year. (Labor Department)

    * More Opportunities Are Available For College Graduates. Employers reportedly plan to hire 17.4 percent more college graduates from the class of 2007 than they hired from the class of 2006. This is the fourth straight year of double-digit increases in college graduate hiring by employers. They also report starting salaries increased for most fields. (National Association Of Colleges And Employers)

    * A Broader Measure Of Unemployment Is Also Down. The percentage of workers who are either working part-time but seeking full-time employment or who are unemployed has decreased from 8.6 percent a year ago to 8.0 percent in December, matching its lowest level in over five years. (U-6 Unemployment From Bureau Of Labor Statistics)

    * More Jobs Are Going Unfilled. The seasonally-adjusted rate of job openings (job openings relative to total jobs plus job openings) was 3.0 percent in November – its highest level since early 2001 – with employers reporting over 4.2 million job openings, an increase of 53 percent since August 2003. (Bureau Of Labor Statistics)

    * Annual Wage Growth Is Faster Now Than In The 1990s. The real hourly wage growth of 1.7 percent in the past 12 months is substantially faster than the annual average growth of 0.3 percent in the 1990s.

    * Wage Growth Now Is Stronger Than In The Previous Economic Expansion During The 1990s. The cumulative growth in real hourly wages during this economic expansion – from the recession until now – has also been 1.7 percent. At this same point in the 1990s expansion, wages had fallen by 0.4 percent. (Bureau Of Labor Statistics)

    TAX FACTS

    * President Bush's 2001 And 2003 Tax Relief Has Reduced Taxes For Every American Income Taxpayer.

    * Over 40 Percent Of All Households Do Not Pay Income Tax. (Treasury Department)

    * Without The President's Tax Cuts... The Economy Would Have Had As Many As 3 Million Fewer Jobs And Real GDP Would Have Been As Much As 3.5 To 4.0 Percent Lower By The End Of 2004. (Treasury Department)

    * The President's Tax Relief Enabled More Than 5 Million Taxpayers... Including 4 Million Taxpayers With Children, To Have Their Income Tax Liability Completely Eliminated In 2006. As a result of the President's tax relief, a family with two children now begins to pay income taxes when their income reaches $41,867. Without tax relief, the same family would have begun to pay income taxes when their income reached $33,070. (Treasury Department)

    * The Benefits Of The President's Tax Relief Are Widely Distributed. The increase in the child tax credit, creation of the 10 percent tax bracket, and reduction of the marriage penalty accounted for almost 60 percent of the tax relief in 2006. (Treasury Department)

    * The President's Tax Relief Is Helping Americans Keep More Of What They Earn. Through the end of 2006, the President's tax relief has kept $1.1 trillion in the pockets of American taxpayers. In 2007, 113 million taxpayers will see their taxes decline by an average of $2,216. (Treasury Department)

    * The President's Tax Relief Is Keeping The Tax Code Progressive. The share of taxes paid by the top 5 percent of taxpayers in 2006 will be 53.3 percent, compared to 51.6 percent without the tax cuts – an increase of 3 percent. The share of taxes paid by the bottom 50 percent of taxpayers will be 3.4 percent, and would have been 4.0 percent without the cuts — a decline of 15 percent. (Treasury Department)

    * Low-Income Families Are Receiving More Money Through Refundable Tax Credits. The President's tax relief has reduced the average Federal income tax rate from 2.9 percent for a family of four with half the median income in 2000 to a negative 4.7 percent in 2005 – meaning that the typical family with half the median income is receiving about $1,500 in transfers through the tax system. (Tax Policy Center)

    * The President's Tax Relief Is Helping Spur Economic Growth. The President's tax relief has played an important role in strengthening the U.S. economy as it was coming out of the recession and in stimulating economic growth by increasing the after-tax rewards to work and saving. The annual growth rate in real GDP in the 13 quarters following passage of the Jobs and Growth Tax Relief Reconciliation Act of 2003 averaged 3.6 percent, compared to 1.1 percent in the 9 quarters preceding the Act's passage. (Treasury Department, Bureau Of Economic Analysis)

    MISC FACTS

    * Historic Revenue Growth And A Continued Commitment To Spending Restraint Helped Cut The Deficit In Half 3 Years Ahead Of The President's Goal.

    * The Poverty Rate Is Declining. The poverty rate decreased from 12.7 percent in 2004 to 12.6 percent in 2005. The poverty rate is now lower than in all but one year in the 1980s and 1990s, and is far below its most recent peak of 15.1 percent in 1993.

    * The Homeownership Rate Is Near Its Record High, And The Number Of Homeowners Is At Record Level. According to the Census Bureau, a record 75 million families own the home they are living in, and the homeownership rate, at 68.7 percent, is near its record high.

    * Exports Are At A Record High – More People Around The World Are Buying American Products Than Ever Before. U.S. exports of goods and services over the first 11 months of 2006 totaled $1.3 trillion, and imports amounted to $2.0 trillion. The trade surplus in services over this period was $65 billion. (Bureau Of Economic Analysis)

    * Exports Are Helping Drive Economic Growth. In the last four quarters, real exports grew 9.1 percent – more than three times as fast as overall GDP. (Bureau Of Economic Analysis)

    Even More!

  2. #2
    Join Date
    Oct 2006
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    Re: Facts about the American economy

    Cha ching.........
    The terminally stupid and certifiably insane.

  3. #3
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    Jun 2005
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    Re: Facts about the American economy

    Posting facts is great. Posting the story behind the facts would be even better. This economy is rolling along just as planned. The rich get richer and the poor get poorer.

    I see Exxon posted its annual profit today, $39,000,000,000, a record for a US company.
    cha ching.....cha ching....cha ching
    Last edited by bairdi; 02-02-2007 at 03:02 AM.

  4. #4
    Join Date
    Mar 2005
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    14,663

    Re: Facts about the American economy

    Quote Originally Posted by bairdi
    Posting facts is great. Posting the story behind the facts would be even better. This economy is rolling along just as planned. The rich get richer and the poor get poorer.

    I see Exxon posted its annual profit today, $39,000,000,000, a record for a US company.
    cha ching.....cha ching....cha ching

    LOL... Indeed, and take a look at where the fvcking dickhead gets his spin, Bairdi.

    He either can't find an unbiased source because there is none or he's too disingenuous to reveal where he gets this puke. That's because it would immediately expose him as the complete brainless biased butthole we already well know him to be. It's the same old story with this little sh!t. It never, ever stops. ...LOL

    But what's the point behind this crap.... really?

    The Gross Domestic Product, consumption, net worth, non-residential investment, wages and salaries, and employment all have grown less rapidly than during other comparable expansionary periods.

    Actually, a slowdown in economic growth and job growth came as consumers saw rising debt payments on the record debt built up in the past 6 years. The government's budget deficit remains monstrous and the trade deficit is even widening. Despite the economy's weakened state, BushCo continues to neglect it. And BushCo's so called tax cuts have been the single largest contributor to the emergence of massive budget deficits. http://www.cbpp.org/8-9-05bud.htm
    Last edited by dchristie; 02-02-2007 at 05:21 AM.

  5. #5
    Join Date
    Nov 2006
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    1,123

    Re: Facts about the American economy

    The great rich man pencil whipped economy! Upper 10% doing great! Lower 60%, or what they call in a democracy, the majority of the citizens? Who gives a sh!t!

    At the rate we are going, in another 10 years, a loaf of bread will cost the average American a half a days wages, and the average family will need 8 full time jobs to pay rent? Just to put it in perspective?

    Don't look now but the great tortilla famine of Mexico is being blamed on Americans using corn as an alternative fuel source??

    But hey, if your rich in America? What problems, I don‘t see no stinkin problems??

  6. #6
    Join Date
    Oct 2006
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    4,548

    Re: Facts about the American economy

    Guess we'll see. I have a brighter outlook. But then I suppose I'm a dreamer. Anyway, might have a headon with a simi tomorrow so I might as well satisfy myself with what I have today. Tomorrow never comes and yesterday's already gone.
    The terminally stupid and certifiably insane.

  7. #7
    Join Date
    Nov 2006
    Posts
    1,123

    Re: Facts about the American economy

    Amen Bogie?

    But it doesn't help our country as a whole for tomorrow? We are at the point where the rich have the, "let them eat cake" mentality, as they retreat to their gated community in the protective and understanding arms of their country club peers? I would hope that when the peasants finally get enough of getting the crumbs and called unworthy, that they only take it out on the rich, but alas once the carnage begins they will most likely destroy everything our ancestors have worked so hard to create. Our biggest threat isn't from a bunch of Muslim extremists, but from within. When the cacau finally hits the fan we will implode!

    I hope I'm wrong, but... most great civilizations dissolve when the followers finally have had enough and have no more confidence in the leaders they have supported for so long! The people will inevitably fight back or simply walk away?

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