SCHAKOWSKY: BUSH ADMINISTRATIONS MISSTATEMENT OF THE DAY JOBS AND THE ECONOMY

DECEMBER 2, 2003

SCHAKOWSKY: BUSH ADMINISTRATION'S MISSTATEMENT OF THE DAY -
JOBS AND THE ECONOMY

WASHINGTON, D.C. - U.S. Representative Jan Schakowsky (D-IL) issued today's "Bush Administration's Misstatement of the Day" on jobs and the economy.

During a trip to Michigan yesterday, President Bush addressed the nation's economic conditions and stated "Things look pretty good."

However, according to today's report by the Center for American Progress:

(President Bush) offered no new job-creation proposals at a time the national unemployment rate still hovers at 6%. And though he trumpeted the turning economy, residents of Michigan aren't celebrating yet. Said Bill Ballenger, editor of the newsletter 'Inside Michigan Politics': "It's hard to be appreciative of the stories about the great economic recovery in the country when there's absolutely no evidence of it in your own back yard."

Michigan is tied with Oregon for the highest unemployment rate in the country, up to 7.6%, the highest it's been in 11 years. (The state has lost over 180,000 jobs since January, 2001.)

And although President Bush touted a study that showed manufacturing gains, the study also showed that "manufacturers remain reluctant to hire," preferring to transfer production offshore. In the past year, Michigan has lost 30,000 manufacturing jobs.

And these losses affect the state's economy as a whole. "With fewer Michigan residents working, state sales, income and business tax revenues have dropped to lower-than-expected levels, creating a $920 million deficit" in the state budget. Last month, Moody's Investors Services lowered Michigan's top-notch credit rating, as the state's manufacturing-based economy continues to struggle to emerge from its recession.