Great chart.
It is amazing how the left wingers out here still try to blame the 2000 dip/recession on GW. I just point out to them, Clintoon was president then, and GW wasn't sworn in until 2001.
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Then they'll go on to say this worst recession ever was followed by millions of lost jobs. If you point out the low unemployment they make up some nonsense about earnings being lower. They're higher; and it's not just nominal earnings, it's even earnings corrected for inflation that are higher.
Almond, you may be just repeating what everyone's saying, but it's hard for me to take this talk about Bush's deficits with a straight face. When it comes to deficits, Bush-bashers suddenly won't talk about inflation because when you talk real money and the real economy you find that federal taxes, spending, and debt are all down.
There's no way around it. The national debt started out for Washington (the guy not the town) at $87 million. Now-a-days we like to think of that kind of dough as chump change (Bill Gates' mad money). Back then it was so huge Uncle Sam was very seriously considering default.
Right now nobody --not even a BB like Kerry or Buchanan-- is talking about the US gov't defaulting. The reason is that $7 trillion with today's economy is a lot more manageable than $87 million was back then.
Then again, logic is wasted on a Bush-basher.