Thursday, September 18, 2008

CORRECTION: Republicans Even Worse than Previously Stated

CORRECTION
In an earlier, error-riddled post the fbomber predicted that Mitt Romney would be elected President of the United States, which obviously will not come to pass this year.

Even more egregiously, he claimed that Republicans possess three core competencies: Making money. Trolling for anonymous gay sex in public bathrooms. And making Democrats look repulsive.

As it turns out, the fbomber overestimated Republican capabilities. For starters, it appears that Republican men are awful at keeping their feverish lust for public bathroom cock out of the papers.

And saying that the Republicans are good at making money is a statement so vague as to become inaccurate. Because as recent events have shown, it does not contain a descriptor of exactly who the Republicans make money for.

As the last eight years have shown, that list of lucky parties is a very short one, noticeably NOT including the following groups:

The Poor - The Census Bureau reports Americans whose household income was in the lowest 20 percent saw their incomes drop 6 percent since 2000.

The Middle Class - According to an Economic Policy Institute (EPI) report, the period 2000-2007 shows the lowest increase in median income (it’s actually a negative $324.00) of any of the four cycles of economic growth over the last four decades.

Stockholders, generally - The Dow Jones Industrial Average closed at 10,587.60 on the day Bush took office. Today it's at 10,609.66. So it's more or less identical, not even taking inflation into account. So, considering brokerage fees and investment costs --- investors would have been better off burying their money in coffee cans in the back yard than investing in stocks.

Taxpayers, generally - Under George W Bush, we've added $4 trillion to our national debt, thanks to a combination of tax cuts and wars. This debt will generate interest which the taxpayers will have to pay.

Anyone earning, spending or saving U.S. dollars, generally - Between 2000 and 2008, the dollar weakened against the euro by 37 percent.

But not everyone has been a loser the last eight years.

Oil Companies, Defense Contractors and The Top 1 Percent of the wealthiest Americans seem to have made out okay. That last group, for instance, has seen its income increase by 50 percent since 2001.

Some might say that this failure in both absolute wealth creation and equitable wealth distribution proves the error of the "trickle down" theory of economics first propounded by Ronald Reagan's economic handlers nearly 30 years ago. Then again, the Republicans never specifically said what they intended to trickle down on the poor people, in the same way that R. Kelly never specifically mentioned what liquid he would be serving his 15-year-old girlfriends when he invited them up for "a drink."