A Tale of Two Economies
Statement
A Tale of Two Economies
Two unbelievable stories in two days have further underscored the unfortunate condition of our nation's economy.
Yesterday, I opened the Riverside Press Enterprise to view the faces of two smiling Canadians. The Press reported the comments of gleeful homebuyers Linda Dunlop of British Columbia and her husband, David Dombowsky. "Our ship has come in," according to Linda Dunlop. You see, theyalong with many of their northern neighbors, are snapping up Southern California properties because the Canadian dollar is now worth more than the US dollar. And while the Dunlop-Dumbowsky ship may have come in, the ship has sailed for many American residents of the 44th congressional district. Almost one in forty homes is in foreclosure in our communities thanks to predatory lending, stagnant wages, and the export of many jobs overseas. Apparently the current economic policies have been terrificfor Canadians!
The second surprise came when checking news online. The Drudge Report linked to an equally ironic article"Standard of living in Britain overtakes USA; first time since 19th century..." The article from The Times noted, "Although many people will be surprised by the figures, Americans have long complained that average incomes have been stagnant in their country. One often-quoted statistical comparison suggests that in real terms the median male full-time salary in America is no higher now than it was in the 1970s." I guess those "complaints" were valid!
Did you ever think you would see the day that Canadian and British prosperity would outpace that of the United States? Clearly, someone has been asleep at the switchor in the Capitol. The Bush Administration and its congressional enablers have not protected the interests of working Americans. I do not begrudge Canadian and British prosperity, but I am offended by the damaging economic policies and trade pacts that destroy jobs, devalue our currency, and irreparably hurt working families.
Too many of the current crop of policy makers don't understand the struggle many working families have in making ends meet each month. I have lived that challenge, and I will not forget the families of the 44th District.
Bill Hedrick
Source