ThePoliticalCat

A Blog devoted to progressive politics, environmental issues, LGBT issues, social justice, workers' rights, womens' rights, and, most importantly, Cats.

Friday, November 16, 2007

Economy: You Really Believe It's Not Getting Worse?


India just announced that tourist sites will no longer accept U.S. dollars as payment of admission, according to Auntie Beeb.

From now on, if you want to visit the Taj Mahal, or any other tourist site in India, you can pay in rupees or you can stay out.

Does it hurt yet? Oh, yeah, I forgot to add, Paulson says the economy is OK.
U.S. Treasury Secretary Henry Paulson said Friday the continued rise in oil prices was "not a positive" for the economy, but downplayed its impact, noting both employment and the economy were still growing.

"The employment situation is very strong in this country, there's no doubt about it. We're creating new jobs -- 49 straight months," Paulson said on New York Mayor Michael Bloomberg's weekly radio program on WABC. Earlier Friday, crude oil topped $92 a barrel for the first time ever.

"Would I like to see oil at a lower price? Yes. But we are using energy more efficiently than we were a number of years ago, and this economy has held up very well against that challenge," Paulson said.
He completely neglects to mention that the number of jobs added are way below the number needed, as we pointed out in an earlier post. Ah, go read it for yourself.

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