
The sagging U.S. economy is setting millions of families
adrift into a world of joblessness and despair.Polls show
Americans are finally focused on the sagging economy. It's about
time. America's workers face the greatest jobs crisis since the
Great Depression.
The nation's economy has shed more than 3.3 million private
sector jobs since George W. Bush took office, the largest jobs
loss since the administration of Herbert Hoover. More than 2.5
million of those jobs were lost in the hard-hit manufacturing
sector.
When Bush took office in January 2001, the unemployment rate
was 3.9 percent. It hit 6.1 percent in August, 2003. That number
translates into 9 million jobless American workers. And that's
just the official jobless tally. Another 5 million or so
Americans are working part-time or have become so discouraged
they no longer look for work.
Affordable Health Care
Today, 15 percent of the U.S. population lacks health
insurance. That means 43.6 million Americans do not have medical
coverage, a six percent increase over a year ago.
Lay-offs helped to spike those numbers. But even those who
have jobs are seeing their benefits disappear. Only 61 percent
of workers receive health insurance from their employers.
Employers keep shifting the costs to workers, who struggle to
pay higher premiums, deductibles and co-payments.
Premium shock is driving working families over the edge. A 15
percent increase in the costs of employment based health
insurance in 2003 follows a 12.7 percent increase in 2002. Those
shocking premiums erode pay increases won in negotiations.
Prescription drug costs also strain family budgets. Retail
drug prices increased an average of 7.7 percent per year since
1991, more than double the average inflation rate of 2.7
percent.
Fair Trade Policies
While President Bush pushes the Free Trade Area of the
Americas (see the FTAA insert), earlier trade agreements destroy
our jobs.
NAFTA alone has caused a net loss of more than 750,000 U.S.
jobs. China's entry into the World Trade Organization and its
recently acquired Permanent Normal Trade Relations status will
cost us tens of thousands of American jobs in the years ahead.
In 2002, the U.S. trade deficit with China was over $103
billion. By contrast, our trade deficit with Mexico was $37
billion last year.
"Yes, facts drive the national debate," said International
President Tom Buffenbarger.
"But next January, February and March, let's drive our
friends and family members to the polls and caucuses,"
Buffenbarger urged. "If we do, the IAM can literally nominate
the next President of the United States."
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