It's the economy
Posted: Wednesday, August 30, 2006 12:37 PM by firstread
Filed Under:
Republicans, Midterms
A potential boost for Bush and Republicans: "Gasoline prices are falling fast and could keep dropping for months... AAA foresees prices 10 cents a gallon lower by the end of next week. It reported a nationwide average of $2.84 Tuesday, the lowest since April 20. It's good news for consumers and the economy. Continued lower prices 'may act like a tax cut' and stimulate spending, says Richard DeKaser, chief economist at National City in Cleveland."
New Census Bureau data released yesterday showed that the nation's "median household income rose last year for the first time since 1999," but the "jump hid some somber news. Earnings actually fell for people working full-time. Household income rose because more people worked in the households, albeit at lower paying jobs." Also: "The portion of Americans living in poverty declined to 12.6% in 2005, down from 12.7% a year earlier. The change, although not statistically significant was the first poverty rate drop since 2000."
Presidential contender and former Sen. John Edwards (D), who has focused on fighting poverty since leaving office, said in a statement yesterday that "Katrina should have been a defining moment in the fight against poverty - the American people's desire for change should have been matched by action from this Administration. But it wasn't. And a year later, we see the result of the Administration’s inattention and neglect - stagnation."
The New York Times covers the report's indication of "continuing erosion in the percentage of Americans covered by health insurance.”
