Tuesday, September 26, 2006
The Democratic Staff of the Committee on Special Investigations of the House Committee on Government Reform has released The Middle-Class Squeeze, prepared for Democratic Leader Nancy Pelosi & Rep. Henry A. Waxman. Here is part of the Executive Summary:
President Bush took office with the nation prospering under excellent economic conditions: the budget was in surplus, jobs were being created at record levels, and the inflation and unemployment rates were low. Over the last six years, however, these economic fundamentals have eroded, with the deficit rising, job growth slowing, and inflation now reaching its highest levels in fifteen years. This report analyzes the impact of these economic trends on middle-class families.