Date registered: Sep 2004
Vehicle: 83 Astral Silver 280 SL
Location: Planet Houston
Mentioned: 0 Post(s)
Quoted: 7 Post(s)
The Bush Legacy
The Houston Chronicle
As a part of his delusional final press conference on Monday, President Bush made the following statement:
â€śIn terms of the economy, look, I inherited a recession, I am ending on a recession. In the meantime there were 52 months of uninterrupted job growth.â€ť
First, the â€śrecessionâ€ť he inherited. Would that have been the â€śrecessionâ€ť that left him a budget surplus which he so quickly squandered? Just curious.
Also, saying that the period in the middle of his time in office experienced growth, although much of that growth was built on the unsustainable housing bubble, is like a football coach saying, â€śWell, we won the second and third quarters, forget about the first and fourth and declare us the winners.â€ť Ridiculous.
I know the President doesnâ€™t like to spend too much time dealing with facts and reality, but here are a few unpleasant economic nuggets about the soon-to-be-departed Bush administration.
Since January 2001, the month George W. Bush took office, the number of unemployed people has increased more than 84 percent.
When President Bush took office, the unemployment rate was 4.2 percent and the ranks of the unemployed stood at just over 6 million. Today, the unemployment rate is 7.2 percent and there are 11.1 million people unemployed.
From the Washington Post:
President Bush has presided over the weakest eight-year span for the U.S. economy in decades, according to an analysis of key data.
*The number of jobs in the nation increased by about 2 percent during Bush's tenure, the most tepid growth over any eight-year span since data collection began seven decades ago.
*Gross domestic product, a broad measure of economic output, grew at the slowest pace for a period of that length since the Truman administration.
*Americans' incomes grew more slowly than in any presidency since the 1960s, other than that of Bush's father.
The silver lining to this dark cloud? Five more days to go.
Recall that earlier generations faced down fascism and communism not just with missiles and tanks, but with sturdy alliances and enduring convictions. They understood that our power alone cannot protect us, nor does it entitle us to do as we please. Instead, they knew that our power grows through its prudent use; our security emanates from the justness of our cause, the force of our example, the tempering qualities of humility and restraint.
-President Barack Obama, 1st Inaugural address