WASHINGTON - February 10 - When President Bush and his advisors released the White House's Annual Economic Report yesterday, Massachusetts Senator John Kerry said he feared the Administration's projections were crafted by the same people who provided "intelligence" on weapons of mass destruction in Iraq.
"We fear the source may have been far less reliable and a lot more callous," said ADA national director Amy Isaacs. President Bush and the chairman of his Council of Economic Advisors show a total lack of understanding about the plight of America's workers and their families. To say that shipping jobs overseas is the 'latest manifestation of the gains from trade that economists have talked about' as Mr. Mankiw did, displays a blatant disregard for those who struggle daily to make ends meet.
Further, in order to meet the job creation predictions released yesterday, the economy would have to create approximately 400,000 jobs each month. That is a stark contrast to the 16,000 created in December or even the 116,000 created in January. "We fear that the President and his advisors have fallen down the rabbit hole directly into Wonderland," continued Isaacs. "President Bush is late for a very important date with American workers and he appears to be lacking both a calendar and a watch," she said.