Fund expects that perception of the economy driven by Wall Street's record breaking numbers, misleading unemployment numbers, and the country's consistent economic growth numbers will allow that kind of a claim to go unchallenged. I'm sure the Bush economic team had similar expectations when they decided that less reported indicators--ones related to the well being of a great majority of Americans--could circle the bowl for all they care.
Here are some real economic indicators that Fund didn't bother mentioning.
- Mortgage defaults are up 62% in April.
- Minimum wage still has not moved.
- The value of the dollar is tanking.
- The median wage lags far behind overall growth.
- Pensions are going the way of the dodo bird.
- Health care costs for the elderly are burying the middle class.
- Average student loan debt is up to nearly $20,000.
- Zooming gas prices continue to break records.
- For the fifth straight year, the trade defecit broke the record.
- The national debt is aproaching $9 trillion dollars, nearly $30,000 per American.
VIDEO: I don't agree with the way Ron Paul might pay the bills, but he sure knows a economic mess when he sees one.
TAGS: Bill Maher, John Fund, Economy, Debt