PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: Srexley who wrote (554870)	3/22/2004 5:29:12 PM
From: Steve Dietrich	Read Replies (3) of 769667

<<Bush believes America is a prosperous and industrious nation>> If you want to take a serious non-partisan look at our economy you should look at how closely spikes in crude oil coincide with recessions. We all know about the embargoes in the 70's that turned our economy upside down but we had shocks in the early 80's followed by a huge drop to near $10 a barrel in '85. We had another spike to near $35 a barrel in the early 90's followed by sub-$20 a barrel oil for most of the mid and late 90's. Another spike in '00 and now it's spiking again. Compare oil prices to our expansions and recessions and you'll get a much closer picture of what drives our economic cycles than by looking at taxes or party affiliation... Steve Dietrich

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