Sunday, June 1, 2008

Economic Policy Institute offers up reasons why the economy is hurting

The Economic Policy Institute has a policy memo from 2006 that says a lot about why the economy isn't working for most of us.

Here's the gist: Productivity has gone up (read: people are working more and harder), but wages have remained steady or declined.

Company profits have risen, but wages have remained stagnant (read: Stockholders and corporate managers are making money, but workers are not)

Debt is at an all-time high. (read: People are financing their lives because they have no money to pay for food or bills)

Poverty is increasing (read: Greater divisions between rich and poor lead to economic dysfunctions, viz., economic slavery at the bottom)

Health care costs are rising while wages are falling. (read: life is cheap and getting cheaper, but your one-time doctor is doing well).

This sort of stuff tells me that anyone stupid enough to support a politician who advocates more of the same should be taken out back and horse whipped. (read: McCain)

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