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Author: spikie Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 1977188  
Subject: At 7.8% the economy under Obama sucks Date: 10/7/2012 10:33 PM
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Real economic quarterly growth under Bush (possibly my least favorite Republican President) was pretty darned good. Under Obama it sucks.

http://www.commentarymagazine.com/article/in-bush-v-obama-bu...

<clip>"President Obama describes his predecessor’s policies as “disastrous.” Just for the fun of it, let’s do compare the two records, shall we?

In the wake of a recession that began roughly seven weeks after President Bush took office, America experienced six years of uninterrupted economic growth and a record 52 straight months of job creation that produced more than 8 million new jobs. During the Bush presidency, the unemployment rate averaged 5.3 percent. We saw labor-productivity gains that averaged 2.5 percent annually — a rate that exceeds the averages of the 1970s, 1980s, and 1990s. Real after-tax income per capita increased by more than 11 percent. And from 2000 to 2007, real GDP grew by more than 17 percent, a gain of nearly $2.1 trillion.

As for Obama’s claim that Bush “turned a budget surplus into a deficit”: by January 2001, when Bush was inaugurated, the budget surpluses were already evaporating as the economy was skidding toward recession (it officially began in March 2001). Combined with the devastating economic effects of 9/11, when we lost around 1 million jobs over 90 days, the surplus went into deficit." <CLIP>
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