{"id":1145,"date":"2008-09-25T22:11:00","date_gmt":"2008-09-26T03:11:00","guid":{"rendered":"http:\/\/girlwpen.com\/?p=1145"},"modified":"2008-09-25T22:11:00","modified_gmt":"2008-09-26T03:11:00","slug":"got-economy","status":"publish","type":"post","link":"https:\/\/thesocietypages.org\/girlwpen\/2008\/09\/25\/got-economy\/","title":{"rendered":"Got Economy?"},"content":{"rendered":"

\"\"<\/a>To make up for the quiet over here today, I bring you a late-night newsbreaking post from our very own Virginia Rutter. With all the chaos down on Wall Street these days, I’m finding it hard to maintain a sense of the larger larger picture. Virginia offers us that. Read it, and, well, weep. -GWP<\/span><\/span><\/p>\n


<\/span><\/span><\/b><\/p>\n

How ya doin’? <\/span><\/span><\/b><\/p>\n

by Virginia Rutter, PhD<\/span><\/span><\/span><\/p>\n

Framingham State College<\/span><\/span><\/span><\/p>\n


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There’s an awesome new report<\/a> out from John Schmitt<\/a> and the Center for Economic and Policy Research (CEPR)<\/a>, called “The Reagan Question.” It starts like this:<\/span><\/span><\/p>\n

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In his closing remarks during the final presidential debate of 1980, Ronald Reagan famously asked the American people: “Are you better off now than you were four years ago?”<\/span><\/span><\/p>\n

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The CEPR <\/span><\/span>report<\/a><\/span><\/span> reprises the question for us today. And, besides having higher blood pressure and a lot of irritatsia, CEPR tells us, on 23 out of 25 economic indicators, we are doing worse. <\/span><\/span><\/p>\n

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Among the indicators is employment for women\u00e2\u20ac\u201dwhich is down. <\/span>So is employment for men. But check this out:<\/span><\/p>\n

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Inflation rate\u00e2\u20ac\u201dup from 3.3 to 5.4 percent.<\/span><\/span><\/p>\n

Unemployment rate\u00e2\u20ac\u201dup from 4.0 to 6.1 percent.<\/span><\/span><\/p>\n

Uninsured\u00e2\u20ac\u201dwe got millions more now.<\/span><\/span><\/p>\n

Poverty\u00e2\u20ac\u201dwe got millions more now.<\/span><\/span><\/p>\n

Personal savings\u00e2\u20ac\u201dthat we’ve got a lot less of now.<\/span><\/span><\/p>\n

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Even the good news isn’t really<\/i> good news: Family income is better now than before, by a whopping 262 dollars after 8 years. That’s not the irritating part. Here’s the irritating part. Under Bush, our productivity is the other indicator that is up. Our productivity grew by 22 percent in the past 8 years. In 2000, our productivity was up just 16%. That’s good! (Our “fundamentals”\u00e2\u20ac\u201dthe workers\u00e2\u20ac\u201dper McCain.) So, we have become more productive! We’re doing great! But wait, where are the profits? Where are all the advantages? Not with us. Check out “real wage growth”: under real wage growth wages were up in 2000 8.2 percent. In 2008, wages were up 1.8 percent. Feh. Feh. Feh. <\/span><\/span><\/p>\n

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Do take a look at this <\/span>report<\/a><\/span><\/span>. It is carefully constructed (lots of great citations to the data at the end) and above any of the particulars, you get the point. How ya doin’? Not so great.<\/em><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

To make up for the quiet over here today, I bring you a late-night newsbreaking post from our very own Virginia Rutter. With all the chaos down on Wall Street these days, I’m finding it hard to maintain a sense of the larger larger picture. Virginia offers us that. Read it, and, well, weep. -GWP […]<\/p>\n","protected":false},"author":1901,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[431,21924],"class_list":["post-1145","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-research","tag-womens-economic-empowerment"],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/thesocietypages.org\/girlwpen\/wp-json\/wp\/v2\/posts\/1145","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thesocietypages.org\/girlwpen\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thesocietypages.org\/girlwpen\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thesocietypages.org\/girlwpen\/wp-json\/wp\/v2\/users\/1901"}],"replies":[{"embeddable":true,"href":"https:\/\/thesocietypages.org\/girlwpen\/wp-json\/wp\/v2\/comments?post=1145"}],"version-history":[{"count":0,"href":"https:\/\/thesocietypages.org\/girlwpen\/wp-json\/wp\/v2\/posts\/1145\/revisions"}],"wp:attachment":[{"href":"https:\/\/thesocietypages.org\/girlwpen\/wp-json\/wp\/v2\/media?parent=1145"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thesocietypages.org\/girlwpen\/wp-json\/wp\/v2\/categories?post=1145"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thesocietypages.org\/girlwpen\/wp-json\/wp\/v2\/tags?post=1145"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}