secular bear started in 2000 IMO....regardless of how you blame the bush administration in this whole mess.....
with some comments from J6P
more can be found here
http://caffertyfile.blogs.cnn.com/2008/08/25/are-you-better-off-now-than-8-years-ago/
FROM CNN’s Jack Cafferty:
Ronald Reagan had some success with this question a few years ago and things weren’t nearly as crummy then as they are now: Are you better off now than you were 4 years ago? But this time it’s been 8 years.
Think about it: unemployment is rising. The rate stands at 5.7% and we have lost 463,000 jobs since the first of the year. And so is inflation. It’s accelerating at a faster rate than it has in 17 years. Gas prices are up 34% in the last year. Oil was around $26 a barrel when President Bush was inaugurated… it touched $147 a few weeks ago. More than 1 million homes are now in foreclosure.
Here are some national comparisons between today and where things were 8 years ago: Americans’ wages have actually gone down since the last recession ended. And we are spending 14.1% of our disposable income on debt; that’s higher than it was in 2001.
Americans are pretty glum about the future, too. The Conference Board’s Consumer Confidence Index stood at almost 85% in 2001; now it’s just below 52%.
Also, a new CNN/Opinion Research Corporation Poll finds 75% of those surveyed think the economy is in bad shape; that’s compared to just 43% who felt that way a year ago.
So as the conventions get under way and the campaign for the White House heats up — voters have a lot to think about.
Here’s my question to you: With the election 71 days away, are you better off now than you were eight years ago?
Interested to know which ones made it on air?
Anthony from Wildwood Crest, New Jersey writes:
Not even close! If you add the Bush years plus 2 happy additions called mouths to feed, we are STRUGGLING!!! If it was up to me, we would get rid of the pathetic Electoral College that allowed him in and change the 2 term limits. Why do we have representatives and senators who decide what happens in America until they are 90, but can’t re-elect a great president who had a SURPLUS? Remember those good ole days called the ‘90s?
Stacy from Virginia writes:
Jack, I cannot complain about the past eight years personally. My salary has steadily increased, I bought a reasonable house, I got married and my wife and I are expecting twins in October. The country, however, is not better off than 8 years ago. Eight years ago, there was optimism, a healthy economy, and a federal budget that had a surplus. No there is fear and pessimism, an economy in danger and record deficit spending.
Gary from Asheville, North Carolina writes:
The more relevant question is whether Americans have gotten what they deserved by twice voting into the presidency a man they would prefer to have a beer with. Al Gore and John Kerry were “boring” while George Bush was just a down-home kind of guy. Americans, at least the Democrats, seem prepared to do the same thing again, vote for someone they would like to go clubbing with. Obama is cool in a Harry Belafonte kind of way. But nobody really knows what he thinks, just like Bush. That’s scary.
David writes:
In a word, yes! Those who were prudent with finances and did not take risky or ill-advised mortgages should be better off. Those who racked up huge debt on credit cards and the like reap what they sow!
John from Atlanta writes:
You got jokes. Have you gotten a raise lately? Paid for a gallon of gas? Tried to get a job in Ohio or Indiana? Had a foreclosure? Know someone who has? Lost a relative in the Iraq War, or know someone going… again? Yeah, you got jokes.
Chris from Valley, Alabama writes:
Jack, Sure we are if you make $5,000,000 and own 7 houses or is it 8 or 9? Tell you what, let my staff get back with your staff on the exact numbers.
Filed under: 2008 Election • US Economy
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Mark - Asheville, NC August 25th, 2008 2:11 pm ET
Of course not. But that isn’t going to elect Obama - this is not 1980, and he isn’t Ronald Reagan.
Jed in Redding, CA August 25th, 2008 2:12 pm ET
I must say that I am much better off than I was eight years ago. But that is despite President George W. Bush and certainly not because of him.
Jo ann Fulton August 25th, 2008 2:12 pm ET
Jo Ann
Washington STATE
We retired in 1999 and have some pension benefits plus Social Security. The pensions do not adjust to inflation and so we have gone backwards in 8 years on everything we buy. We are now very limited on the entertainment or extras we can allow. Our estimate is that our buying power has been cut by half.
Jayne August 25th, 2008 2:12 pm ET
Absolutely not. We can no longer afford health insurance, our business income has dropped a good 50% or more and our house, which we hoped would be a good investment, is now worth about as much as a used pup tent. Third world here we come.
dee, mi August 25th, 2008 2:13 pm ET
Definately not!!! McCain seems to think that the economy is great under the Bush policies. Seems like everytime he opens his mouth - dumb rolls out. The man is either senile or blind if he can’t see what’s happening to middle-class America.
Frank from Peterborough August 25th, 2008 2:13 pm ET
Well Jack I would have answer yes to this question but then I’m a Canadian and we don’t have the home foreclosures and bankruptcies you people are now experiencing.
I guess the main reason would be we are not spending billions of our tax dollars plus borrowing money to finance a foreign invasion and their subsequent reconstruction.
True Believer Mississippi August 25th, 2008 2:14 pm ET
Jack! No one believe they better off today after 8 years of bush, cheney. To answer your question NO.
Steve C August 25th, 2008 2:15 pm ET
Only the Elitists like John McCain are better off.
Steve
Laguna Niguel, CA
Josh in Sylvania, Ohio August 25th, 2008 2:16 pm ET
No, worse off than eight years ago. The economy in my state of Ohio is in shambles because of George W. Bush and those blasted Republicans. I guess any state who has been under Republican rule as long as my state has would be in economic shambles as well. Well Jack, in my state Ohio Republicans had sixteen years to do something to about the economy. But the only things they have done was help the rich executives move jobs overseas, find ways to get out of paying their fair share of taxes. I would love to take Bush and show him first hand what his reckless free trade policies have done to my state.
Tom, Avon, Maine, The Heart of Democracy August 25th, 2008 2:16 pm ET
Bin Laden is better off now than he was 8 years ago. Putin is better off now than he was 8 years ago. Big Oil is better off now than it was 8 years ago. America’s fortunes have suffered.
Richard McKinney, Texas August 25th, 2008 2:18 pm ET
That is a loaded question Jack. The wealthy and those with money and retirement accounts invested in oil are doing wonderfully. Those that are not are in a world of hurt.
Everything comes back to what the United States Congress has done or failed to do in the last 8 years. Bush could not have gone to war without their approval. They gave the nod for war. Lets start looking at the real problem with our government instead of blaming the moron cast as president. Electing a new president will not alter congress. Not one damn bit.
There is nothing in this country with a lower approval rating then the United States Congress.
Donna Colorado Springs,Co August 25th, 2008 2:27 pm ET
No, I’m not. Fortunately, my husband has a better job than he did eight years ago, but the cost of living and the price of gas has gotten so out of hand, that our budget is stretched just like everybody elses. I put all of the blame squarely on the shoulders of King George, and it terrifies me to think that McCain is hiding in the shadows just waiting to do exactly the same things to us that Bush did.! God help us all!
Sam from Philadelphia, PA August 25th, 2008 2:28 pm ET
I’m much better off than I was 8 years ago. I’ve got a really nice house in a beautiful neighborhood… for now.
Annie, Atlanta August 25th, 2008 2:28 pm ET
Not even close.
Jan Davis, Knoxville, TN August 25th, 2008 2:28 pm ET
Absolutely I am worse off than 8 years ago. In the Tennessee Valley we’ve just heard our already high electric rates are going up an additional 20 percent. Gas prices have affected me negatively. Everytime I go to the store or K-Mart, prices on just normal items like toilet paper keep rising. I think a lot of businesses are just taking advantage of the current economic situation in this country. I support Obama to ensure that things start turning around for the middle class. If we elect McCain, the middle class will no longer exist!
Peter TX August 25th, 2008 2:29 pm ET
What do you think Jack, when poor African countries currencies are gaining seriously on the dollar and lots of Europeans rather travel all the way to buy stuff here because it is cheaper due to a weak dollar, when you have to get an extra job just to get by, not even meeting your former standard of living eight years ago. what do you think Jack? it’s sure getting ugly in my wallet.
Peter, Dallas TX
up would really cause a ruckus....likely not happening till 2009 if it does though i think.....
