Prosperity Index Improves to Flat

Barefoot and Naked - While the economy continues to underwhelm compared to the years of prosperity under Clinton, a report from the BAN Economic Justice Institute claims the Bush recession is officially over.

“The two consecutive quarters above the recession level, combined with the first positive score since the third quarter of 2001, indicates that the long unholy economic nightmare that has been the hallmark of the Bush administration may finally be at an end despite the President’s misguided economic policies.”

“The Index score of 0.01 indicates that the economy is performing at the historical average. While this is certainly good news, the continued stagnation of real wages continues to be a concern.” said Grouch. “Additionally, the Bush deficits are threatening to drive interest rates, and possibly inflation, much higher. If that happens soon, we could see the condition of the middle class, and the index, deteriorate.”

Factors contributing negatively to the index score include below average Income Growth, above average Bankruptcies, and above average Unemployment Duration. Factors contributing positively to the index score include below average Interest Rates, a below average Inflation Rate, and a below average Unemployment Rate.

The Ban Prosperity Index is a weighted aggregation of six economic indicators that directly affect poor and middle class Americans.