9 June 2004

8,000 fewer computer jobs than a year ago and 223,000 fewer than in January 2001

Paul Craig Roberts chimes in again with a detailed breakdown of the "248,000 jobs created in May 2004" being touted by the Bush administration and it's troupe of apologists.
Here is where the May jobs are: restaurants and bars 33,000; health care and social assistance 36,000; temporary help 31,000; retail trade 19,000; transportation and warehousing 15,000; financial activities 15,000; real estate 9,000; services to buildings and dwellings 8,000; education 8,000.

This repeats the pattern of last month and, indeed, of every month in the new millennium. Our economy is not creating jobs that are part of the high tech global economy or that require university education. The jobs that made America a land of opportunity where people could rise are missing.

If we add the 37,000 construction jobs created in May, then 213,000—or 86%—of May’s jobs are in sectors that do not face import competition and cannot be outsourced. Neither do they produce exports to close the massive trade deficit.

The US economy might be part of the global economy, but jobs are not being created for the US work force in that part of the economy.

Roberts fires a few salvos at New York Times columnist Thomas Friedman, who has eagerly trumpeted the joy of outsourcing.

8 June 2004

No peacetime president has raised taxes so much on so many people

Which president? That would be President Reagan, who often has been the recipient of media glory for his cutting taxes...
For many middle- and low-income families, this tax increase more than undid any gains from Mr. Reagan's income tax cuts. In 1980, according to Congressional Budget Office estimates, middle-income families with children paid 8.2 percent of their income in income taxes, and 9.5 percent in payroll taxes. By 1988 the income tax share was down to 6.6 percent — but the payroll tax share was up to 11.8 percent, and the combined burden was up, not down.

4 June 2004

Bush administration has awarded the largest homeland security contract in history to a company that has given up its U.S. citizenship and moved to Bermuda

Truly outrageous.
Lately we witness our Dept. of Homeland Security awarding a $10 billion border security contract to a Bermuda company, Accenture LLP. The system known as U.S.-Visit requires foreigners to be fingerprinted and photographed upon entering the U.S. at a major airport or seaport. The technology also includes iris scans to identify people.

Accenture is the company formerly known as Arthur Andersen. You may remember them for these exploits:

On June 15, 2002, Andersen was convicted of obstruction of justice for shredding documents related to Enron. An added blow for the company may come from its role as the auditor for WorldCom.

In the past Andersen has been alleged to have practiced fraudulent accounting for Sunbeam, Waste Management, Asia Pulp and Paper, and the Baptist Foundation of Arizona, among others.