From the Wall Street Journal:
Workers with professional degrees, such as doctors and lawyers, were the only educational group to see their inflation-adjusted earnings increase over the most recent economic expansion, adding to the concern that the economy has benefited higher-earning Americans at the expense of others.
Given this, the Republicans are berating Democrats in Congress for not wanting to “give Americans access to American oil,” presumably to ease their financial burdens. A burden which happens to be more severe because they’re making, effectively, less money than they were before President Bush was elected. And, how much diffence will this make?
WHITEHOUSE: Gentlemen, we’re in the middle of a near total mortgage system meltdown in this country. We have a health care system that burns 16 percent of our GDP, in which the Medicare liability alone has been estimated at $34 trillion. We’re burning $10 billion a month in Iraq.
This administration has run up $7.7 trillion in national debt, by our calculation. And there is worsening evidence every day of global warming, with worsening environmental and national security and economic ramifications. In light of those conditions, do any of you seriously contend that drilling for more oil is the number one issue facing the American people today?
(Long silent pause during which nobody answers.)
WHITEHOUSE: No, it doesn’t seem so