Fewer Jobs, Not Much Growth
In
Bush Tax Cuts
January 10, 2005
President Bush won over Congress and the
American people with a "Jobs and Growth" agenda,
promising higher employment and economic expansion with
an ambitious tax-cutting agenda.
He said after passage of the tax cuts, the United States
would see 5.1 million new jobs and marked improvement in
an economy struggling to get past a recession.
But a newly released analysis by the Economic Policy Institute
paints a picture of a much harsher reality. The Bush administrations
jobs and growth tax cuts fell 3.1 million jobs short of the
5.1 million projected. There are no signs of improvement
in the countrys weak labor market.
"These numbers are not obscure figures for economists
and number-crunchers they represent Americans who are losing
out in increasingly difficult national work picture," said
IBEW International President Edwin D. Hill. "And when
good industrial jobs are more scarce every day, theres not
much hope when the countrys biggest employer is Wal-Mart."
The 157,000 new jobs the U.S. Labor Department said were
created in December represented a disappointment to economists
predicting more.
"Although the administration claims the tax cuts are
working, the actual job growth weve seen so far is less
than was expected with no tax cuts," said Economic Policy
Institute President Lawrence Mishel.
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