After the worst jobs report in months came out last Friday, the President, in an almost Stepford-like fashion, asserted that his tax cuts are working and the economy is “strong and getting stronger.”

In fact, fewer than 100 days before the presidential election, unemployment is stuck where it was when the recovery began two-and-a-half years ago. Real wages are down over the past few months. And many who have found new employers after losing their jobs during the recession or its jobless recovery are earning less than they used to.

The fact that some in the Bush camp are in denial about the data is to be expected at this point in the game, but it seems like a good time to set out the relevant facts, both positive and negative.

It's official: Though the economy is clearly expanding and jobs are coming back, the benefits of growth are once again accruing to the wealthy. After a brief hiatus during the late 1990s, economic inequality is reasserting itself.

No less than the nation's chief economist, Federal Reserve Chairman Alan Greenspan, noted this in recent testimony, stating that “most of the recent increases in productivity have been reflected in a sharp rise in the pretax profits…” This trend stands in sharp contrast to the way growth was apportioned just a few years ago, when the benefits of workers' increased efficiency were broadly shared.