Washington, DC – Yesterday, the Bureau of Labor Statistics released new data showing that almost every state in the nation has experienced significant job losses since president Bush came to office. This news comes as the U.S. Congress debates the president’s tax and budget package, which would actually worsen long term job prospects in every state.
Even states, like Maine, which had previously not shown job losses are now showing lost jobs.
New State Job Snapshot:
Jobs Lost Since
Though “jobs” get top billing in the president’s “jobs and growth” plan, the president’s economic policy should actually be called a lost jobs plan. Though it comes with a price tag of hundreds of billions of dollars, it will not create jobs — rather, it will dole out hundreds of billions of dollars to our nation’s wealthiest citizens as average Americans find themselves out of work and as our nation’s list of security and economic priorities grows.
Originally, the Administration’s own White House Council of Economic Advisors estimated that the President’s plan would only generate 190,000 jobs this year for the more than 8 million people currently seeking work. But according to analysis by Economy.com, even these meager gains would be reversed in future years leading to negative job growth of over 750,000 jobs nationwide.**
Roger Hickey, co-director of the Institute for America’s Future, said, “Our Representatives and Senators face a clear choice in handling the economy — they can either choose to follow the president down the same tried and failed path or they can choose to lead the nation to economic growth and recovery. The Bush plan is no stimulus — it is an economic depression plan that should not become law.”