Posted on 01/05/2006 7:19:45 PM PST by southerndethcult
Bush "Recession" Has Lower Unemployment Rate, Higher Stock Prices than Clinton's "Economic Boom"
The stock market closed Friday, December 29, 2001 up 5.68%, at 10136.99. The last week of December 1995, in the midst of the so-called Clinton economic boom, the stock market closed at 5098. The unemployment rate, which was 4.9% when the World Trade Center was destroyed September 11th, had risen by the end of October 2001, to 5.0%, rising .3% from the time George W. Bush was sworn into office in January 2001. During the economic boom we heard so much about from the media during the Clinton years, in October 1995, the unemployment rate was 5.2%.
The Dow Jones Industrial Average closed Friday, December 28, 2001 at 10,136.99 DOWN 4.45% from 10,587.59 on January 19, 2001, not up 5.68%. The last week of December 1995, in the midst of the so-called Clinton economic boom, the stock market closed at 5,098.80, up 56.60% from 3,255.99 on January 19, 1993.
The original post does not compare the same time period in each term, so let's. From January 19, 1993 to December 28, 1993, the DJIA closed at 3,793.77, up 14.18%.
The unemployment rate, was 4.9% by the end of October 2001, up 16.67% from 4.2% in January, 2001 when George W. Bush was sworn into office in.
In October 1995, the unemployment rate was 5.5%, not 5.2%. Still, that's a decrease of 23.61%.
The attacks on September 11th, 2001 did not cause the Bush job loss. The unemployment rate had already risen 16.67% by August, from 4.2 in January to 4.9. The single largest month-to-month increase in unemployment throughout Shrub's entire term was before 9-11, July to August, 2001 from 4.6 to 4.9. The 0.3 percentage point increase is the single largest increase in the unemployment rate under Bush. Although unemployment did jump from 5.0 to 5.3 after 9-11 and then again from 5.3 to 5.6 from November to December the 0.3 increase from July to August was the single highest percentage increase of Bush's entire presidency and it occurred before 9-11.
Only when judged by the facts, George W Bush and Republicans presidents in general are bad for the country.
Republicans love to cherry pick information in order to mislead. Frequently Republicans say that the unemployment rate during George W Bush's second campaign was the same or nearly the same as Clinton's at the same point. In October 1994, the last month unemployment rate numbers were available before the 1996 election unemployment was at 5.2%. In October 2004 the unemployment rate was 5.5%, 0.3% points higher than Clinton and 30.95% higher than when Bush took office. Clinton saw unemployment decrease 28.77% at the same point.
Compare Clinton and Bush at the same point in their terms.
Currently, the National Debt is $8,087,357,559,005.85, up 42.53% since Bush took office. The unemployment rate is up 19%. The Average Retail Price per Gallon of Gasoline is up 33.55% adjusted for inflation. NYMEX Light Sweet Crude Oil Futures Prices are up 88.34% adjusted for inflation. As of the end of 2005 the S & P 500 is down 7.02%, the NASDAQ is down 20.40% and the Dow Jones Industrial Average is up 1.23%.
And add to that the fact that the economy during much of he the Sink Emperor years benefited from the long term benefits of Reagan's visionary fiscal policies.
The Clintoon tax hikes, on the other hand, did their damage incrementally (as is the way with these things) leading to the Clinton recession which was dragging the economy when President Bush took office.
Actually, if you revise the figures so that each President's administration begin the date that their first budget was enacted (which, you'd think would be a more accurate representation, right?), Clinton would come down markedly, finally getting results of his own recession. Bush, likely, would rise, and would still be suffering from the Clinton recession fallout.
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