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Friday, September 07, 2007

Bushonomics - or the tax cuts at work

I guess this is the strongest economy ever:

WASHINGTON (AP) -- Employers sliced payrolls by 4,000 in August, the first drop in four years, a stark sign that a painful credit crunch that has unnerved Wall Street is putting a strain on the national economy.

The latest snapshot of the employment climate, released by the Labor Department on Friday, also showed that the unemployment rate held steady at 4.6 percent, mainly because hundreds of thousands of people left the work force for any number of reasons.
This, of course, follows some very anemic job growth over the past four years.

Meanwhile, the ranks of the not employed because they're unemployable keeps growing by leaps and bounds. Soon the "Atlas Shrugged" society will come to pass because no one but the CEOs will be employed.

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