Kerry for President Reality Check On The President's Radio Address

6/19/2004

From: Chad Clanton or Phil Singer, 202-464-2800, both of John Kerry for President

WASHINGTON, June 19 -- Following is a Kerry for President Reality Check on the President's Radio Address:

George Bush is touting an economy that has seen health costs, bankruptcies, tuition, energy prices, child care and other vital household expenses hit record highs while family incomes have declined. John Kerry wants to boost America's sights with a plan to create 10 million new jobs, encourage new high-wage job creation here at home, make college affordable for all Americans, lower healthcare and energy costs, help families save, and restore confidence in our long-term economic future.

BUSH RHETORIC ON THE ECONOMY DOESN'T MATCH THE REALITY OF HIS RECORD

"Our economy has grown at the fastest pace in almost two decades. And the recession was one of the shortest and shallowest in modern American history." (Bush Radio Address, 6/19/04)

This is the Worst Post-Recovery Job-Growth Record: George Bush's jobs record is the worst postwar economic recovery in history with only 142,000 private sector jobs created since the end of the recession, 4.4 million less than the historical average. The President faces the worst jobs record of any President who has run for reelection in nearly sixty years. From January 2001 when Bush first took office until May 2004, the economy has lost 1.9 million private sector jobs. (Bureau of Labor Statistics)

The American Economy Has Missed the Bush Jobs Prediction for Ten of the Past Twelve Months. In promoting the May 2003 stimulus package, the Bush Administration predicted that the tax cuts would stimulate the economy and create 306,000 new jobs each month. Since the tax bill became law on May 28, 2003, the economy has missed this mark ten out of twelve months. (Council of Economic Advisers, 2/4/04, "Strengthening America's Economy"; Bureau of Labor Statistics)

90 percent of the new jobs created since August of 2003 are in industries that pay an average hourly wage that is less than the national average. About 1.3 million of the jobs created since August of 2003 are in service sector industries with an average wage of $15.42 - 40 cents less than the national average. (Office of House Minority Leader, 6-18-04)

Less Than Half of Americans Approve of Bush's Handling of the Economy. According to the Pew Research Poll, just 43 percent of Americans approve of Bush's handling of the economy - a 4 percent decline since January. More than half of Americans disapprove of Bush's stewardship of the economy. (Pew Research Poll, 6/17/04; people-press.org)

BUSH RHETORIC ON TRADE DOESN'T MATCH THE REALITY OF HIS RECORD

"We must maintain our policy of open trade, because we know that on a level playing field, America's workers can compete with anyone in the world." (Bush Radio Address, 6/19/04)

Bush Administration Had Dramatically Scaled Back Free Trade Enforcement Cases. On average, the Clinton Administration brought more cases to the WTO each year than the Bush Administration has brought in more than three years in office: In the six years from the WTO's creation in 1995 to 2000, the Clinton Administration brought 65 cases - an average of 11 per year. The Bush Administration has filed only 10 cases with the WTO in more than three years - an average of about 3 per year. (http://www.johnkerry.com/features/trade/)

BUSH RHETORIC ENERGY DOESN'T MATCH THE REALITY OF HIS RECORD

"We must have a national energy plan that promotes conservation, exploration, and investment in infrastructure, which will reduce our dependence on foreign sources of energy." (Bush Radio Address, 6/19/04)

Energy Bill Provides Massive Subsidies for Bush Financial Backers. According to the Washington Post, the energy bill provides billions of dollars in benefits to companies run by at least 22 executives and their spouses who have qualified as either "Pioneers" or "Rangers," as well as to the clients of at least 15 lobbyists and their spouses who have achieved similar status as fundraisers. The energy bill provides industry tax breaks worth $23.5 billion over 10 years aimed at increasing domestic oil and gas production, and $5.4 billion in subsidies and loan guarantees. Furthermore, the $23.5 billion in tax breaks exceed those sought by the Bush administration, which had asked for just $8 billion in tax breaks. (San Francisco Chronicle, 11/21/03; Washington Post, 11/19/03,11/24/03)

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