The Bush years don’t seem so bad now, huh?
Aside from the constant harping from the Democrats about Iraq, and charges of fear mongering from the liberal left, the economy was in a state of fiscal fitness.
Yet, how often did we hear, throughout the Bush years, of just how awful the economy was?
Even with inheriting the Clinton recession, the dot.com bubble implosion, Enron-type accounting practices, and a little thing like September 11th, elements of the economy were strong up until the last couple months of Bush’s Presidency.
-The average annual rate of unemployment between 2001 and 2008 was 5.26%. (Since the election, it has since risen to 7.6%.)
-The average annual growth rate of GDP was 2.18%.
-The average annual rate of inflation was 2.8%.
Taxes were cut in 2003, and tax revenue went through the roof from ’04 on.
We were on our way to cutting the budget deficit in half (At least until the Republicans in Congress started spending like they had it.).
We successfully fought 2 wars, and we hadn’t had an attack in over 7 and a half years.
If it wasn’t for the Democrats over the last 2 years forcing the banking and credit industries into making risky and immoral sub-prime mortgages, creating the fetid conditions for a collapse that people actually predicted in 2004, and that was the catalyst for our current economic troubles, maybe Obama wouldn’t have inherited this mess.
Maybe we wouldn’t have an Obama at all?
I don’t want Obama to succeed. I’ve said it before and I’ll say it again. The success of the president does not mean success for the country. It gets truer by the minute with this serpent.
Just sayin’, is all..