The latest economic data shows the US lost 17,000 last month. Home foreclosures were much higher than expected lasted year. Inflation at the wholesale level is the highest its been in decades. Personal debt is on the rise. About 1.2 million people actively sought work beyond the expiration of their unemployment benefits, and didn't find any.
But today, reports the New York Times, ExxonMobil earned its highest profits on record. $40.6 billion. Their total sales of "$404 billion, exceeded the gross domestic product of 120 countries." Additionally, "Chevron, the second-largest American oil company, said Friday that its profits rose 9 percent to $18.7 billion last year; Royal Dutch Shell on Thursday reported net income for 2007 of $31 billion, up 23 percent."
War and huge tax loopholes have sure been good for big oil (friends of Bush and the Republicans), but not for the rest of us.