On the recordJuly 20, 2004
I wanted to point out what was in the Wall Street Journal today that talks about that, yes, for some sectors of the economy, there has been a recovery. They talk about a two-tier recovery that is going on where wealthier households are the big beneficiaries of a stronger stock market and higher corporate profits and bigger dividend payments and boom in housing, but ordinary people are not seeing that same kind of recovery. And they show some very telling statistics here. For example, hotel revenue was up 11 percent in the first 5 months of 2004 at luxury and upscale chains, but just up 3 percent at economy chains. At the five-star Broadmoor Hotel in Colorado Springs, Colorado, $600-a-night lakeside suites are sold out every day through mid-October.
Source
govinfo.gov
