Treasury Secretary: "Economy...not benefiting all Americans"

[im10ashus]

Well, thank you, Captain Obvious! Tell us something we DON'T know.

Treasury Secretary Henry M. Paulson Jr., delivering his first public remarks since taking office last month, pledged today to work with Democrats to revamp Social Security and Medicare, and in a gesture aimed at Bush administration critics he said he recognized that the economy was not benefiting all Americans.

“Amid this country’s strong economic expansion, many Americans simply aren’t feeling the benefits,” Mr. Paulson said in a speech at Columbia Business School. “Many aren’t seeing significant increases in their take-home pay. Their increases in wages are being eaten up by high energy prices and rising health care costs, among others.”

It was a somewhat unusual concession from an administration that has spoken only glowingly of recent economic gains and has generally joined with Republicans in Congress in dismissing Democratic concerns about growing economic equality in the United States as “class warfare.”

Mr. Paulson made no reference to specifics, particularly the debate in Congress over tying an increase in the minimum wage, as advocated by Democrats, to sharp cuts in the federal estate tax, as pushed by Republicans. Democratic leaders in Congress accuse the Republicans of cynical politics in packaging the two proposals to get Democratic support.

cont'd...

http://www.nytimes.com/2006/08/01/washington/01cnd-treasury.html?hp&ex=1154491200&en=016c9e81c07c2684&ei=5094&partner=homepage

[Turbineguy]

1. This morning on CNBC

he mentioned one of the major four economic problems was inequity of income.

[im10ashus]

2. Wow!

He's so on top of things. Where have they been keeping him? In a locked room? It's as if nobody else thought of that before him.

[partylessinOhio]

3. Why not tell the truth - the Bush economy has only benefited a very few,

the most wealthy of America.

What is Mr. Paulson doing about the increasing cost of gasoline which is driving up food prices (and we all need to eat) and the cost of all other goods?

[rock]

4. I propose we promote him to Major Obvious

[im10ashus]

5. LOL!

How about Major General? Or Colonel? :rofl:

[RufusEarl]

6. Yea right!!

" Plans to revamp Social Security and Medicare" By revamp does he mean destroy? This has been on the agenda from the get go, it got shot down a year ago, but their baaaaaack.

[koopie57]

7. This does sound too good to be true

I can't help but feel nervous when someone from this administration makes sense. It might be a way to get us to trust him and then not pay attention to the manipulation of social security. A wolf in sheep's clothing perhaps?

[Turbineguy]

8. I have this theory

that there are actual conservatives (you know, what we used to call a conservative) who want to help out the Bush Administration for fear of a backlash that must surely come that will be something like the French Revolution.

[bobbolink]

9. "Captain Obvious" -- lol!

:applause: