it’s the economy, stupid

Senators Sheldon Whitehouse, Claire McCaskill and Hillary Clinton discuss the woes of Bush-McCain economic policies.

Clinton: What we have seen over the course of the last eight years is an administration that refused to recognize the threats lurking in our economy. No matter what lurked just beneath the surface or what problems were facing middle-class families. Now, we know that many C.E.O.’s are paying lower tax rates than their receptionists. We know that President Bush and those who carry his mantle seek to lower those taxes even further. Middle-class families have seen their wages decline even as the cost of living has skyrocketed. This administration has the worst job creation record in 70 years.

Millions of families were locked into ballooning and unaffordable adjustable-rate loads as this administration stood by denying there was a crisis. Regulators and regulations designed to keep pace with the markets have been steadily chipped away by Washington Republicans even as companies experimented to the tune of hundreds of billions of dollars in ever more complex and risky financial instruments.

The question every voter must answer before casting their ballot is: “Are you better off today than you were eight years ago?”

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the source of uncle sam’s deficit

Dr. Bruce Prescott, at Mainstream Baptist, has a great post illustrating the current deficit problem. He writes:

The Center on Budget and Policy Priorities has published a report about “How Projected Surpluses Became Deficits.” The chart above puts the information in a nutshell.

I really didn’t get much from the Bush tax cuts. I think it was something like $60 a year. I’d gladly give it back with interest if it would help stabilize the economy of our country.

I wonder how many people in the upper income percentiles would do the same?

Excellent question. Any guess as to the answer?