Several months ago, the National Journal made a key observation about the Presidential race. They noted that, despite the job losses under Bush, the vast majority of workers will not have experienced job loss. By contrast, the vast majority of workers
are affected by changes in real (inflation-adjusted) income. Thus, growth in income is a much more important predictor of electoral success than growth in jobs.
As Kerry and other Democrats have wisely been emphasizing throughout the campaign, real income dropped more than $1,500 during the first three years of the Bush Administration due to stagnant wages and rising costs. The Bush Response? Look at all our progress in 2004!
Well, this week we received three key reports confirming that regular Americans continue to be squeezed by the Bush economy in 2004. Each report is notable in its own right, but the key to closing the economic deal is putting them all together.
(More below the fold)
Report 1: Monday's announcement by the Energy Department that the nationwide average for a gallon of gas has risen to $2.04, just two cents shy of the all time record.
Report 2: Tuesday's announcement by the Labor Department that real hourly wages were flat in September and are no higher today than they were a year ago.
Report 3: Wednesday's announcement by the College Board (see Kos's front page story) that tuition rose over 10% for the 2004-05 academic year.
(links to sources and charts for all three reports available on the Senate Democratic News Tracker)
When combined with the Kaiser Family Foundation's September report on health care premium increases in 2004 (11%), the evidence is overwhelming: Americans will be headed to the polls with lower real incomes as a result of higher costs and flat wages.
The evidence is there for everyone to see -- at the gas station, in their paychecks, and in their monthly bills -- and Democrats should be talking about it as much as possible between now and Nov. 2.