The “say what?” economy
John at conservative blog Powerline can’t understand why so many people are down on the economy when economic growth in America is high by international and historical standardards.
Let me toss out a few explanations for the widespread pessimism:
1) Energy prices. The three bucks a gallon doesn’t inspire much happiness in most customers, especially when the oil companies say they need to make ginormous profits to be able to invest in new oil fields - only to turn around and drop a four hundred million dollar pay package on a retiring CEO. I guess those $400 million weren’t needed. The oil companies are robbing Peter and Paul to pay Lee. We’re all in this together, but some are more in it than others!
2) Health insurance premiums went up another 9.2% last year. That’s the bad news. The good news, if you will, is that that was less than in 2004.
3) College tuition. Up 5.9% for private colleges in 2005, and 7.1% for public colleges, compared to 2004.
4) Property taxes. Anybody received a property-tax cut recently?
