Are You Better Off ...?
Next Tuesday all of you will go to the polls [to make a decision]. I think, when you make that decision, it might be well if you asked yourself: Are you better off than you were four years ago?
- The Dow Jones Industrial Average closed at about 12,400.
- The New York-based Conference Board said its consumer confidence index was at 110.3.
- The Bureau of Labor Statistics had the unemployment rate at 4.6%
- According to CNN gasoline a gallon of gasoline, in January 2007, averaged about $2.20.
- Last Thursday at about 1 pm Eastern, the Dow had hit a bottom of about 10,500 before Secretary of the Treasury Henry Paulson and the Chairman of the Federal Reserve Ben Bernanke intervened. That is a drop of about 15% in the Dow from two years ago.
- The Conference Board's latest take on the pulse of consumer confidence had it at a very thready 56.9 in August - a drop of about 48%
- The unemployment rate in August was reported at 6.1% by the BLS an increase of 33%.
Gasoline prices are at about $3.70 a whopping 68% jump.
Rep. Barney Frank (D-Ma) and Sen. Chris Dodd (D-Ct) took control of the House and Senate Banking Committees.
Rep. George Miller (D-Ca) and Sen. Ted Kennedy (D-Ma) took over their respective Labor Committees.
Rep. John Dingell (D-Mi) and Sen. Jeff Bingaman (D-NM) became chairs of the Energy Committees.
"Throughout its history, Congress has engaged in oversight of the executive branch - the review, monitoring, and supervision of the implementation of public policy."
Are you better off than you were TWO years ago?