U.S. Factory Jobs Cut For Seventh Month In A Row; Jobless Rate Increases To 4.6%

While Bush spoke at Wall Street earlier this week, giving a glowing speech on how well some in corporate America and some stocks are doing, on main street the story for American workers is far different.

For the seventh month in a row, factory job cuts have hard hit American workers, driving up the unemployment rate to 4.6%, the highest figure in four months. More and more, the American dream is destroyed as more factories phase out American jobs and export these jobs to labor cheap nations. Many economic analysts no longer consider the U.S. a "manufacturing economy", but a sort of "service economy".

Bush continues to praise the tax cuts for the big corporations as the key to the huge profits on Wall Street and among the wealthy who helped to buy Mr. Bush into office. Yet these tax cuts only acted as incentives for many to remove jobs from American workers to cut labor costs, further ruining the status of the American working class. These tax cuts were not linked to any meaningful legislation meant to keep jobs in the U.S. Even the latest minimum wage increase proposal is tied to $8 billion in corporate welfare proposals, and remains bottled up in Congress for perhaps months.

This is the way things work when the working people are but a mere commodity to be exploited by the wealthy class to make huge profits, while working people count on these jobs for the very survival of their families.