We're Slipping Into a Sub-Par Economy

The reality of job creation during the Bush Administration has never reached the Administration’s claims, and today’s low number for the second month in a row means that we may be slipping below the sub par results we’ve seen to date.At no point in this Administration have we achieved more than a few months of the 200,000 new jobs per month that the Administration predicted. 200,000 jobs per month represent the low end predictions as a result of the tax cuts, and now we appear to be slipping further below these sub par results.

Unfortunately, even in the few months when the Administration’s jobs target has been achieved, real wage growth has been nonexistent, as Secretary Snow was forced to acknowledge when he testified before the House Financial Services Committee in May.

The President professes to be puzzled by the lack of enthusiasm among a majority of Americans for his economic results. The combination of no wage growth and sub par job creation should provide him with an explanation