Eight months into his term, Bush presided over the largest security failure in our nation's history. Yesterday, he blamed the sluggish economy--you know, the one that keep shifting good jobs to other countries so large "American" companies can lower their operating costs while putting well-trained, dedicated Americans out of work--on the attacks of 9/11. He said a lot of other things, ludicrous things (in full cover-your-ass mode), but this struck me as just wrong. Not just that the economic troubles we face today have little to do with the hit we took on 9/11/2001, but that he would stoop to that level to use the emotional issue of our losses from that day to explain away his failed economic plan and the bloated record federal deficit and the complete elimination of the surplus.

Let's look at the facts:
1) The total raw economic loss from 9/11 is pegged at somewhere between $50-$70 billion. Yet the federal deficit was $500 billion last year, the trade deficit was $500 billion, and the federal deficit this year is expected to again exceed $500 billion. Economic activity dipped briefly in the quarter after 9/11, but over the following 12 months the GDP was still growing at over 2%. What was really happening behind the 9/11 smokescreen was the selling out of the American skilled worker by Bush's crony corporate friends, sending millions of jobs overseas in search of the cheapest price at the expense of our communities, schools, and livelihoods here. We’re witnessing the declining relevance of the GDP to stable, quality employment.

2) Bush cut 1.3 trillion of taxes out of the federal coffers. At the same time, he increased spending by 20% over Clinton's last budget, back when we had a balanced budget and an annual surplus, paying down the huge national debt created by Reagan and Bush. So in absolving the wealthy for their financial responsibility to contribute to the strength of our communities, he bankrupted the Treasury and sent the bill down to the states and our children. The states, in turn, raised taxes because they aren't getting the same block grants from the feds that help pave the roads, feed the poor, help the unemployed, etc. Poverty has gone up, as has unemployment and underemployment. Yet states have cut services for poverty and unemployment, creating social crises across the country. Foreclosures, credit card debt ($9k per person now), and bankruptcies are at record levels, half of which are caused by major illness in families victimized by a flagging economy and no national health care. So under Bush, conditions for working families have gotten much worse than their measly $300 a year tax break can cover. He blames 9/11.

3) He's shipped over 3 million jobs to China, Singapore, India, and other countries with 3rd World labor practices, costs, and human rights abuses. About 800,000 of these jobs are technology jobs; many others are in white-collar service jobs. The good jobs are going, yet the GDP is rising, and curiously tax revenues are falling. How does that work? Good jobs pay more taxes. That's 3 million people not paying taxes anymore. Averaging out the salaries/wages, that's at least $15,000 per person. That's about $60 billion in raw tax revenue alone, not to mention state and local taxes. And disposable income lost? That's $200 billion of economic activity with downstream tax revenue and job creation through the multiplier effect. 2 million of those jobs were manufacturing jobs, which have a multiplier effect of about 3--meaning each manufacturing job represents 3 more down the line. Not everyone is out of work—Wal-Mart now has about 1.5 million employees, many of whom used to work for decent wages in manufacturing but now who patch together a living with their $6.50/hour 50% health coverage and food stamps if they don't have any savings left. At this point you can tell I'm just getting warmed up, but let me move along. The point is Bush has had daily opportunities to STOP the flow of jobs out of the country and to invest INSIDE The country but has chosen--EVERY DAY--to do nothing.

3) He's shipped over 3 million jobs to China, Singapore, India, and other countries with 3rd World labor practices, costs, and human rights abuses. About 800,000 of these jobs are technology jobs; many others are in white-collar service jobs. The good jobs are going, yet the GDP is rising, and curiously tax revenues are falling. How does that work? Good jobs pay more taxes. That's 3 million people not paying taxes anymore. Averaging out the salaries/wages, that's at least $15,000 per person. That's about $60 billion in raw tax revenue alone, not to mention state and local taxes. And disposable income lost? That's $200 billion of economic activity with downstream tax revenue and job creation through the multiplier effect. 2 million of those jobs were manufacturing jobs, which have a multiplier effect of about 3--meaning each manufacturing job represents 3 more down the line. Not everyone is out of work—Wal-Mart now has about 1.5 million employees, many of whom used to work for decent wages in manufacturing but now who patch together a living with their $6.50/hour 50% health coverage and food stamps if they don't have any savings left. At this point you can tell I'm just getting warmed up, but let me move along. The point is Bush has had daily opportunities to STOP the flow of jobs out of the country and to invest INSIDE The country but has chosen--EVERY DAY--to do nothing.

So, Mr. President, it's not just a stretch to suggest that your economic problems have anything to do with 9/11, it's an outright moral outrage--another dose of that Texas Snake Oil you've been selling all along. And I'd say it's morally wrong to use the emotional issue of what happened that day to try to head fake the American people into believing the attacks are the core of our economic woes. It's just wrong.