Monday, August 28, 2006

With News Like This, How Can the Dems Lose?

More rosy news for American workers via the NYTs.
The median hourly wage for American workers has declined 2 percent since 2003, after factoring in inflation. The drop has been especially notable, economists say, because productivity — the amount that an average worker produces in an hour and the basic wellspring of a nation’s living standards — has risen steadily over the same period.

As a result, wages and salaries now make up the lowest share of the nation’s gross domestic product since the government began recording the data in 1947, while corporate profits have climbed to their highest share since the 1960’s. UBS, the investment bank, recently described the current period as “the golden era of profitability.”
Naturally this golden era of profitability doesn't extend to American workers. The interesting thing will be how the Democratic Party handles this economic "boon" to their election hopes. Iraq and a struggling economy where hard work doesn't pay off should be disasterous to the GOP.

It's great how sordid politics can be isn't it?

Nevertheless, I'm not hopeful the Dems will retake Congress. If the Democrats lose these mid-term elections, can there be any doubt America needs a progressive alternative. Unfortunately, the problem may be that progressive values are a thing of the past in 21st century America and we are indeed a superpower in nosedive.