From In These Times:
Lies, Damn Lies and Poverty Statistics
How an archaic measurement keeps millions of poor Americans from being counted
By Christopher Moraff
Standing before the House rostrum on the night of January 31, President George W. Bush beamed as he recounted the state of the country's economic health. "Our economy is healthy," the president declared during his State of the Union address. "Americans should not fear our economic future, because we intend to shape it."
What shape Bush has in mind is clear. While the administrators of the president's economic policies champion 11 consecutive quarters of GDP growth, Bush-mandated tax cuts ensure that the government will continue to make less while the rich and large corporations eagerly fill their coffers. In 2005, federal revenues were just 17.5 percent of GDP, 1 percent less than the previous 50-year average. By contrast, the Feb. 12, 2005 Economist reported that in 2004, after-tax corporate profits reached their highest level as a proportion of GDP in 75 years.
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