(from FactCheck)
Summary
We found some puffery in President Bush’s State of the Union address. He proposed a 20 per cent cut in gasoline use, which turns out to be only an 11 per cent decrease from current levels. The President claimed to have cut the federal deficit in half, which hasn’t quite happened yet. He trumpeted the 7.2 million jobs created since the worst of the 2003 job slump, ignoring the 2.7 million jobs lost during the first part of his tenure. And once again Bush spoke of “energy independence,” though the nation’s dependence on imported oil has grown steadily since Bush took office despite all the talk and enactment of his energy legislation.
Sen. Jim Webb of Virginia, in a nine-minute response from the Democrats, also chose his data selectively. Trying to put a gloomy cast on a generally upbeat economy, he claimed that worker wages “are at all-time lows as a percentage of national wealth.” Webb would have been more accurate had he said “national income” rather than “wealth,” but it’s true that real wages (after inflation) are rising nicely after a long stagnation.