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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Bald Eagle who wrote (768427)	1/20/2009 4:57:00 PM
From: pompsander	Read Replies (2) \| Respond to of 769670

Do you consider the Bush years an economic success?

To: Bald Eagle who wrote (768427)	1/21/2009 5:34:48 AM
From: DuckTapeSunroof	1 Recommendation Read Replies (1) \| Respond to of 769670

Re: "Jobs growth is not nearly as important as GDP" Actually --- in America --- I believe that growth in jobs is one of the key ingredients which go into producing higher GDP. As I already said, 'without an expanding middle class America's economy tends to stagnate... or worse.': Message 25341796 Still, the GDP for the recent eight years of Bush was but a 'house of cards'... a hollowed-out economy, which is now collapsing. Without the average historical production of new jobs, and without real increases in median wage levels, people turned to their home mortgages to try to keep their standard of living. They sucked equity out of their homes (called "MEWs", Mortgage Equity Withdrawals) until that last piggybank collapsed also. If you back the Mortgage Equity Withdrawals out of America's GDP numbers... you'll see that --- for several years during Bush's two terms --- real GDP was ACTUALLY NEGATIVE. And, over his full eight years, once the final numbers are released, we will see that Bush's real GDP (minus MEWs) averaged a little bit BELOW ONE PERCENT. Very, very BAD economic performance! Economic data: Message 25258875