The positive metrics of the current economy are undeniable. Gross Domestic Product exceeded three percent growth for all of 2005, and has grown for sixteen straight quarters. U.S. businesses created over two million new jobs last year. Hourly wage rates increased over three percent in 2005 to an average of over $16 an hour. The unemployment rate stands at a historically low rate of five percent. The Dow Jones Industrial Average surpassed 11,000 this week for the first time since 2001. But U.S. House Minority Leader Nancy Pelosi (D-CA) is insisting that the economy is spoiled.
Pelosi stated in a January 6 press release,
“The President claims he has created a strong economy, but working Americans are telling a different story. They feel the American dream slipping further from their grasp and they know the reality is that this economy is not delivering for middle-class families.”
Why does Pelosi contend that this economy has failed so-called middle-class Americans, when all the metrics continually prove her wrong? First, she and her fellow liberals have carved out a position on every issue – including the economy, and the war on terrorism – that defines success for their party only if the economy and our efforts in fighting terrorism fail.
Second, in the face of record economic growth, Pelosi and her liberal flies must resort to class warfare tactics to divide America into phantom groups of haves and have-nots. Currently 50% of all taxpayers, starting with a taxable income of approximately $29,000 or higher, pay 97% of all personal income taxes. The truth is there is no definition of “middle-class,” and liberals will never provide a definition. The term “middle-class,” like “working Americans” and “the rich,” has value only in its ability to create class envy among Americans who perceive themselves as victims. The liberal flies are only too willing to encourage class envy when they have lost the war on facts and results.
Herman Cain is the National Chairman of the Media Research Center’s Business & Media Institute. He is the former president and CEO of Godfather’s Pizza, Inc., and currently is CEO and president of T.H.E. New Voice, Inc., a business and leadership consulting company.
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