One of Conrad’s proud claims as he runs for re-election, is that tax reductions have “spurred the economy.”
Hmm. For who? According to the Department of Labor, things don’t look so good:
The department’s consumer price index, a widely followed inflation gauge, rose 3.4 percent last year, the fastest rate since 2000, largely reflecting climbing prices for fuel oil, gasoline, natural gas and electricity, the department said.
Average hourly wages fell 0.5 percent and average weekly earnings declined 0.4 percent, after adjusting for inflation, in 2005, the department said in a separate report.
Last year was the third year in a row in which real weekly wages fell, according to department data for the nation’s 92 million private production and nonmanagerial service workers, who account for more than 80 percent of the work force.
Oh, that’s right. Workers who struggle to make heating payments aren’t exactly Conrad’s constituents. He must be talking about how the economy has improved the profits of corporations, which are projected at 14% growth for the fourth quarter.
Hmm. Large corporate profits, decreased worker earnings. It’s Republican paradise.