Let's do the math. If Bush created 3 million jobs in his 8 years in office, that means he created 31,250 per month. It has been estimated that to maintain the employment rate, our economy needs to create 125,000-150,000 jobs per month, otherwise we see the unemployment rate rise. Bush's tenure in office was an extremely weak one from an economic perspective. The stock market was 20% lower than when he was first inaugurated, the national debt was double, and unemployment was far higher. Also during this time, the top 1% increased their wages substantially, while the bottom 99% saw their real wages after inflation decrease. By all measures, Bush and the GOP Congress who were in power for 6 of his 8 years, were a miserable failure from an economic standpoint.
Contrast that with the Clinton years, and I dislike the Clintons intensely. But the combination of Bill and Gingrich was darn good for our economy. |
