The Economy & Bush

Posted: September 3, 2008 in Economy, Politics

I’m sure someone will find 5 or 6 articles to prove this one wrong. What I know for certain is that my family has done quite well in these past 8 years and I can point to many families of all stripes that can say the same thing. Chalk the credit to whomever you wish.
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Bush Has a Good Economic Record
By KEITH MARSDEN
wsj.com

Successive speakers at the Democratic National Convention poured scorn on President Bush’s economic record. The clear aim was to justify the party’s call for “change,” and to undermine support for Republican presidential nominee John McCain. His election would mean a “third Bush term,” delegates groaned.

[…]

Data published by the International Monetary Fund (IMF), the Organization for Economic Cooperation and Development (OECD), the World Bank, the International Comparison Program (ICP) (a cooperative venture coordinated by the World Bank) and the U.S. Census Bureau allow a nonpartisan, factual assessment. Here are some of the findings:

– Economic growth. U.S. output has expanded faster than in most advanced economies since 2000. The IMF reports that real U.S. gross domestic product (GDP) grew at an average annual rate of 2.2% over the period 2001-2008 (including its forecast for the current year). President Bush will leave to his successor an economy 19% larger than the one he inherited from President Clinton. This U.S. expansion compares with 14% by France, 13% by Japan and just 8% by Italy and Germany over the same period. (more..)

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When you factor in 9/11, the dot com crash, the current housing market and the war in Iraq, we have fared pretty well despite all the rhetoric that suggests a different picture.

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