js7a's Journal: Income and Poverty

From Kos:

Change, real median household income (2003 adjusted dollars)

Bush II: -$1,535
Clinton: +$5,489
Bush I: -$1,314

Change, number in poverty

Bush II: +4,280,000
Clinton: -6,433,000
Bush I: +6,269,000

Source (PDF).

the economy and presidents

[eglamkowski]

Read the first four or five chapters of "A Random Walk Down Wall Street" [amazon.com]

The president has nothing to do with the state of the economy. Congress has a tiny bit (they do get to tax and spend, after all), but the president has bugger all of an influence. Mostly it's about the pscyhology of the consumer, especially investors (witness the ponzi scheme that brought down Albania's economy back in 1997).

Re:the economy and presidents

[js7a]

The president has nothing to do with the state of the economy. Congress has a tiny bit

That is a contradiction, because the president has legislative power equal to more than half of congress (veto.)

Re:the economy and presidents

[eglamkowski]

Less than half, since congress can override his veto. You the same person as piano? See my response to his EXACT same criticism here:
http://slashdot.org/comments.pl?sid=120404&cid=101 88458 [slashdot.org]

Simple question for you: How much of every day do you sit around worrying about what the president is doing to the economy? What specifically do you worry he will do, as opposed to what congress will do?

Re:the economy and presidents

[js7a]

piano is a member of my family, and we've discussed this particular issue in response to your nearly identical comments.

How much of every day do you sit around worrying about what the president is doing to the economy? What specifically do you worry he will do, as opposed to what congress will do?

(1) It varies. (2) Use the bully pulpit and administrative deal-making powers to propose and garner support for more regressive taxation, lowering median incomes and plunging millions more into poverty, while