Friday, August 06, 2004

Bush's "Jobs and Growth Plan"

In May of 2003 the Bush Administration passed a tax cut program which they claimed would create "5.5 million jobs by the end of 2004 or an average of 306,000 new jobs each month starting July 2003." The Bushies have failed miserably in meeting the overall objective but the trend had been in the right direction from July 2003 through March 2004. Since March, however, the trend has reversed. In fact only 32,000 jobs were created in July (this number will be revised downward next month) and that is 274,000 jobs short of the projection. In fact "job creation failed to meet the administration's projections in 11 of the past 13 months."

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