Your Statement is false. The economy was clearly in trouble before the Bush Administration started. The current administration began 9 months after the biggest market correction in NASDQ history (2000 was the worst single year in NASDQ history, and the worst year for the S&P 500 in decades). The current Administration began 7 months after the beginning of the California Energy Crisis.
Economic growth had stalled and was clearly cooling before the Current Administration took office. GDP growth was about 3.8% for the year in 2000, but growth slowed dramaticlly in Q3 and Q4 of that year (Q2 99 = 2.O%, Q3 99 = 5.2%, Q4 99 = 7.1% , Q1 00 = 2.6%, Q2 00 = 4.8%, Q3 00 =.6%, Q4 00 = 1.1%, Q1 01 = -0.6%). According to the NBER, Industrial Production peaked in the summer of 2000 and was falling significantly as the Bush Administration came into Office. Real Manufacturing and sales were falling before the current Administration came into Office.
Unemployment, often considered a lagging indicator reached a minimum in October of 2000, and was begining to increase before the current Administration came into Office. |
