Median Household Income Rises 1.1%; Gap Between the Richest And the Poorest Widens; Middle Class Feels Squeezed - Robert Guy Matthews. Wall Street Journal. (Eastern edition). New York, N.Y.: Aug 30, 2006. pg. A.2

"The median income of American households rose by an inflation-adjusted 1.1% last year after falling five years in a row, the Census Bureau said in its annual report on the well-being of Americans. But the gap between the richest and poorest Americans widened last year, continuing a trend that dates to the early 1970s with a pause in the late 1990s. The top fifth of American households claimed 50.4% of all income last year, the largest slice since the Census Bureau started tracking the data in 1967."

Bruce D. Meyer, a professor at the University of Chicago's Harris School of Public Policy Studies, said that the numbers are flawed. "Our official statistics are too gloomy," he said. "The middle has been doing better than the numbers suggest." Because the numbers don't reflect other income such as food stamps, housing assistance, Medicaid, mortgage deduction and other kinds of wealth transfers, they make Americans look worse off than they really are, he argued.

The Census Bureau said much of the gains among middle-income households nationally came among foreign-born households. The median income of households headed by natives rose 0.2% to $46,897; among those foreign-born, the median income was up 3.3% to $42,040 with the strongest gains among naturalized citizens."

Okay the rich are getting richer. Excellent says my inner capitalist pig (ICP). "But Prof. Meyer is surely smoking dope!", retorts my inner socalist comrade(ISC). No, says ICP, he is merely pointing out the glorious future for the vanishing American middle class: food stamps and other guvment transfers. Meanwile my inner desi immigrant, with Eyeore like sentiment, says "don't rejoice, for the natives will now claim you are stealing American jobs and making them poorer!" ...

Schering-Plough Settles Charges for $435 Million - Sylvia Pagan Westphal and Zachary M. Seward in Boston and John Carreyrou in New York. Wall Street Journal. (Eastern edition). New York, N.Y.: Aug 30, 2006. pg. A.2

"The government accused the company of illegally inducing doctors to prescribe a number of drugs, including the cancer medications Temodar and Intron A and several hepatitis treatments, by, among other things, paying doctors up to $500 for each patient started on therapy, placing Schering-Plough-funded physician assistants in doctor's offices or paying doctors to attend Schering-Plough events.

The guilty plea from Schering Sales means it can no longer sell drugs to the government, but its marketing functions have been taken over by other parts of the company, which are permitted to continue doing business with Medicaid and Medicare. Schering Sales "is an entity whose sole purpose is to plead guilty in these matters," said Mr. Saunders. "Schering-Plough takes responsibility for the actions of the past while not putting patients in a position where they can't get important medications," he said. "

Ayi! How dare the guvment fine another glorious bastion of capitalism for incentive-izing doctors to save people from the ravages of cancer. If such guvment interference continues, doctors will soon have to go on food stamps.

Excellent move, Mr. Saunders, setting up a shell division to be the fall guy. The God of Pigs (GOP) will reward you with a fat bonus this year ...

Politics & Economics: Bush Speeches to Stress Stakes in Iraq; Bid to Boost War Support Will Emphasize Adapting to Conflict, Not Gains on Ground - John D. McKinnon. Wall Street Journal. (Eastern edition). New York, N.Y.: Aug 30, 2006. pg. A.4

"PRESIDENT BUSH will launch another major public-relations offensive to strengthen support for the Iraq war -- this time likely emphasizing the high stakes and changing nature of the battle more than the progress being made. The series of speeches begins tomorrow at the annual American Legion convention in Utah and will continue through the anniversary of the Sept. 11 terrorist attacks and on into the middle of next month.

...

To make that point, Mr. Bush recently has increasingly emphasized that if the U.S. withdraws from Iraq, the "enemy will follow us home," as he said at a fund-raiser for former football star Lynn Swann's Pennsylvania gubernatorial campaign."

An excellent career path for young people in YoooNighted States: PR Specialist. Long live Spin and Bull. And yes, you don't want Saddam to come visit you with his evil, do you?