Bush's "Magic" Economic Formula: The Rich get Richer; Regular People Lose Ground

By Larry Beinhart, AlterNet. Posted June 4, 2007.

The economy keeps growing, as does the enormous largesse of the wealthy, while the average person makes less than they did when Bush took Office. This is Bush's magic economic formula.

Supposedly we are in a sustained economic recovery and have been since 2002.

Part of this is Bush hot air and the Republican Noise Machine, which the media quotes verbatim.

By a certain measure, however, it's real.

The economy has grown. Corporate profits are at an all-time high. Average income is up. There's lots of money around.