CNN's War on the Economy

"We hear every day on CNN that the middle class is getting beaten up and that it's eroding," said author Barbara Ehrenreich on the October 21 "In the Money." She was right about CNN. The 24-hour network is unabashedly attacking the economy in the home stretch of an election race, despite exceptionally good economic news including a low unemployment rate of 4.6 percent and 6.6 million new jobs since August 2003.

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News & Politics

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• Economy

[Knoss]

Although wage gaps are widening that is the rich are getting richer faster then the middle class, the middle class' income has tripled in real dollars (adjusted for inflation) since 1950 and middle class Americans live like rich Americans did in the 1950's.

[gjames302000]

I wonder how ignorant america will be to this phenomenon? It's infront of there eyes... but they close it to the truth... the Leaders of America and Islamic Arab terrists have clapped their hands!

[gjames302000]

... giving land to Islamic terrists... that's like telling your neighbor to give up your Godgiven land to someone who want's you back in a holocaustic OVEN!!!!! Yeah...I do sound like a radical believer.... but has anyone noticed it's biblical.... it's prophecy.. the bible say ..who can but prophise! America could repent...?

[gjames302000]

America and the Globe is only getting what they are doing to Israel. I am ashamed for America and the President for the first time in my life. America has the Audacity to force Israel to give up their God-given land... because they don't read the bible, no respect for God's word.... no fear of God.. and neither has our USA congress repented of their wicked ways...

[gjames302000]

We Got to give Israel back it's land! Though all the nations be gathered against it. They are dividing God's land. God is placing Judgement on a Global scale. The bible says all that try to divide my land for gain shall be cut into pieces. I will curse all that divide the land for gain. I will bless the nations that bless Israel. God has blinded unbeliever's eyes and neither will they consider or repent.

[pholland]

No, I'm proud to say no one in my family benefited from any taxpayer-funded "spread-the-work" schemes, and neither did society. To be honest, I have no idea what you're trying to say in the 2nd part of your argument. All I know is the economy floundered during the 1930s because FDR's collectivist agenda was in no way conducive to private investment. It was not until after the war, when the most of the New Deal and its make-work programs were scrapped, that growth was able to resume.

[kassandrasduplex]

-make work shams like the TVA and WPA-

You never benefitted from government redistributive policy,never had family members who worked in the TVA? Laissez faire to winnow the chaf would have resulted in death on the streets. The futility of War as answer...what was the world's population at the outset of WW2 and now? Proof to me that many more humans could have co-existed without the war ever occuring; war-is-answer paradigm is a failure of charitable imagination.

[pholland]

Again, while it's true a president could in theory "create jobs" by redistributing dollars to create useless make-work projects, this would in no way benefit the economy. The Keynsian fallacy that growth can somehow be created by circulating pieces of paper w/ dead presidents on them is laughable. This is why the Depression, created by the Fed's mismangement of the money supply, continued during the 1930s despite make work shams like the TVA and WPA, and didn't recover until after WWII.

[kassandrasduplex]

It is high time to return to PROGRESSIVE TAXATION. Too few have sucked too much from too many for too long.

[kassandrasduplex]

Actually presidential administrations can very well create jobs. Roosevelt did so in the Great Depression, itself the result of the GOP Roaring Twenties, a shell game of get-rich-quick-swindles. And now we see the results of the Reagan Revolution 26 years later as the inequality in America is unparalleled and the economy is about to collapse.