Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

BETTER THAN CLINTON
NATIONAL REVIEW ON LINE ^ | 2/26/2004 | J EDWARD CARTER

Posted on 02/26/2004 8:51:39 AM PST by HJH207

February 26, 2004, 8:52 a.m. Better than Clinton? Putting Bush's economic record to the reelection test.

By J. Edward Carter

Nine months prior to the 1996 presidential election, Bill Clinton's Council of Economic Advisers cheerfully reported that the "American economy has performed exceptionally well over the past 3 years." While that may not surprise you, you may however be surprised to learn that President George W. Bush's economic record is, in many ways, better than the record Clinton ran on for reelection.

Compared with the "exceptional" years of 1993, 1994, and 1995, the first three years of George W. Bush's presidency featured:

lower inflation lower unemployment faster productivity growth faster labor compensation growth (i.e., wages and benefits) 29.4 percent ($6.9 trillion) more economic output 45 percent ($960 billion) more exports; and an economic growth rate 81.2 percent as fast as that under Clinton

Considering the circumstances under which the U.S. economy has labored for the past few years, President Bush's record is all the more impressive. When George W. Bush moved into the White House, the economy was on the verge of recession. The largest stock market bubble in U.S. history had recently burst, exports were declining, manufacturing employment had been falling for half a year, and people were finding it harder and harder to find work. And that was before 9/11, the war on terror, and the revelations of the corporate-governance scandals that grew out of the late 1990s.

The tax cuts President Bush signed into law helped alleviate the impact of these economic shocks and kept millions of Americans working who would have otherwise lost their jobs. Consequently, the unemployment rate peaked in June 2003 at 6.3 percent, compared with peaks of 7.8 percent and 10.8 percent during the previous two recessions.

With the U.S. economy on the upswing, President Bush's critics are finding it increasingly difficult to disparage his economic record. But that won't stop them. Fortunately, as Aldous Huxley observed, "Facts do not cease to exist because they are ignored." So what are the facts?

Most private-sector forecasters expect the U.S. economy will grow faster this year (on an average annual basis) than in any year since 1984.

For the third consecutive year, the U.S. economy is poised to grow faster than most other industrialized economies. France, Germany, and Japan, for instance, are not expected to grow even half as fast as the United States.

Since the Bush administration began, non-farm productivity has increased at a 4.1 percent annual rate — the fastest pace for the start of any presidency since Harry S. Truman occupied the White House.

The U.S. remains the world's largest exporter. In fact, during the first three years of the Bush administration, the U.S. exported more in real terms than it did during the Eisenhower, Kennedy, Johnson, Nixon, and Ford administrations combined.

More single-family homes were sold in 2003 than in any other year on record. And the homeownership rate is at a record-high of 68.5 percent — a full percentage point higher than during the fourth quarter of 2000.

At 5.6 percent, the national unemployment rate is now lower than the average unemployment rate of the 1970s, 1980s, and the 1990s.

According to the Labor Department's household survey — the survey used to calculate the monthly unemployment rate — more Americans are working now than ever before. The payroll survey is also showing improvement: 112,000 new jobs were created in January and 366,000 jobs have been added over the last five months.

While President Bush's economic record is arguably better than the record Bill Clinton ran on in 1996, this truth is frequently obscured by unrelenting partisan criticism based more on fancy than fact. But the fact remains that the United States boasts the world's largest and most vibrant economy. It will stay that way so long as we are guided by a trust in what President Bush calls "the power and possibilities of freedom."


TOPICS: Announcements; Business/Economy; Constitution/Conservatism; Editorial; Government; News/Current Events; Philosophy; Politics/Elections
KEYWORDS: 2004; bush; bushrecovery; economy; impeachedx42; thebusheconomy
Navigation: use the links below to view more comments.
first 1-2021-4041-47 next last

1 posted on 02/26/2004 8:51:42 AM PST by HJH207
[ Post Reply | Private Reply | View Replies]

To: HJH207
Nice post.
2 posted on 02/26/2004 8:55:49 AM PST by jwalsh07
[ Post Reply | Private Reply | To 1 | View Replies]

To: HJH207
But... but... but... WE LIVE IN TWO AMERICAS!!!!
3 posted on 02/26/2004 8:59:19 AM PST by MegaSilver
[ Post Reply | Private Reply | To 1 | View Replies]

To: MegaSilver
One in the democrats mind and then the real America
4 posted on 02/26/2004 9:01:32 AM PST by HJH207 (THE SPECIAL INTEREST OF THE PEOPLE)
[ Post Reply | Private Reply | To 3 | View Replies]

To: HJH207
bump
5 posted on 02/26/2004 9:01:34 AM PST by Eva
[ Post Reply | Private Reply | To 1 | View Replies]

To: Howlin
This one needs to get visibility! Howlin, do you have a ping list handy?
6 posted on 02/26/2004 9:17:20 AM PST by hobson
[ Post Reply | Private Reply | To 1 | View Replies]

To: HJH207
This should be SHOUTED from the highest! Too bad the media won't tell the country...we'll just have to do it.
7 posted on 02/26/2004 9:24:39 AM PST by mrtysmm
[ Post Reply | Private Reply | To 1 | View Replies]

To: hobson; 1Mike; 3catsanadog; ~Vor~; ~Kim4VRWC's~; A CA Guy; A Citizen Reporter; abner; Aeronaut; ...
Glad to!

Some good information here!
8 posted on 02/26/2004 9:32:24 AM PST by Howlin
[ Post Reply | Private Reply | To 6 | View Replies]

To: HJH207
Bump...
9 posted on 02/26/2004 9:33:45 AM PST by eureka! (Hey Rats and Presstitutes, how's the turnout in the primaries? *snicker*)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Howlin
Excellent....thanks for the ping.
10 posted on 02/26/2004 9:34:09 AM PST by anniegetyourgun
[ Post Reply | Private Reply | To 8 | View Replies]

To: Howlin; The Raven
Sure is. Thanks Howlin.
11 posted on 02/26/2004 9:35:22 AM PST by Molly Pitcher
[ Post Reply | Private Reply | To 8 | View Replies]

To: Howlin
Thanks for the ping, Howlin...
12 posted on 02/26/2004 9:35:50 AM PST by TomServo ("What a day. I invented Gainesburgers and I didn't even mean to!")
[ Post Reply | Private Reply | To 8 | View Replies]

To: Howlin
"Facts do not cease to exist because they are ignored."

Tell that to a liberal! Thanks for the ping Howlin. Really good stuff here.

13 posted on 02/26/2004 9:37:58 AM PST by AZamericonnie ('Liberals can't take the heat unless they're the ones with their hands on the thermostat')
[ Post Reply | Private Reply | To 8 | View Replies]

To: mrtysmm
...we'll just have to do it...

Yes we will!

Thanks for the heads up on this one, please keep me posted on all of these goodies. I have a few lib relations with whom I am happy to share such information. :)
14 posted on 02/26/2004 9:39:31 AM PST by BlessedByLiberty (Respectfully submitted,)
[ Post Reply | Private Reply | To 7 | View Replies]

To: HJH207
..but the economy is the voters #1 issue!
15 posted on 02/26/2004 9:39:42 AM PST by mystery-ak (*The cause of freedom is in good hands*....you betcha, Mr. President!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: HJH207
Good stuff,but what about all those homeless people sleeping on grates and the "other" America?/sarcasm

I am sorry for anyone who loses his job or has to adjust to a lower paying job.May they find work soon.

I don't believe we can emphasize enough the strong points to combat the spin from the dems on the economy.
16 posted on 02/26/2004 9:40:28 AM PST by MEG33 (John Kerry's been AWOL for two decades on issues of National Security!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: HJH207
BETTER THAN CLINTON

Oh, that really narrows it down....

17 posted on 02/26/2004 9:43:19 AM PST by steve-b
[ Post Reply | Private Reply | To 1 | View Replies]

To: HJH207
BTTT
18 posted on 02/26/2004 9:48:26 AM PST by hattend
[ Post Reply | Private Reply | To 1 | View Replies]

To: steve-b
Miss the point, steve?
19 posted on 02/26/2004 9:51:18 AM PST by ohioWfan ("ANGER IS NOT AN AGENDA FOR THE FUTURE OF AMERICA")
[ Post Reply | Private Reply | To 17 | View Replies]

To: PeteFromMontana
Ping!
20 posted on 02/26/2004 9:51:57 AM PST by b4its2late (A thing not worth doing isn't worth doing well.)
[ Post Reply | Private Reply | To 1 | View Replies]


Navigation: use the links below to view more comments.
first 1-2021-4041-47 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson