The U.S. Economy and You (Part 1)

The U.S. economy is strong!  The tax cuts are working and we must make them permanent!  The estate tax, (now known as the “death tax”), must be repealed!  We have to do this to keep our economy strong and growing! 

If you have any exposure to traditional media, there is no doubt that you have heard these phrases.  But, I ask, how’s your “personal economy” doing these days?  How did you like your last raise? (what??? You didn’t get a raise? )  But you received a tax cut, didn’t you? (you mean the one that we didn’t notice because the price of EVERYTHING has risen and the cut was barely noticeable?).   What’s that I hear about how your money just doesn’t seem to go as far as it used to go? 

I think it is time to take a look at some real numbers.  We can find  those numbers at our own government’s websites. 

Poverty, Population, and the Unemployment Rate

Allegany and Cattaraugus Counties face the issues of poverty and stagnant or decreasing population growth rate. It is also worthwhile to examine the unemployment figures for these two counties.

According to the 2003 Census, Cattaraugus ranks 53rd and Allegany ranks 57th of the 63 counties in New York State’s poverty statistics. We are definitely at the bottom 20% of this list.

From 1990 to 2005, Allegany County increased its population by 132 (50,470 to 50,602), a +0.26% increase. Cattaraugus County decreased its population level by 1732 (84,234 to 82,502), a -2.06% decrease.

Our unemployment numbers have risen; however, they are still at low levels. From 2000 to 2005, Allegany County went from 4.9% to 5.6%; Cattaraugus County went from 4.5% to 5.5%.