Monday, January 12, 2009

Economy Made Few Gains in Bush Years

The Washington Post reports:
President Bush has presided over the weakest eight-year span for the U.S. economy in decades, according to an analysis of key data, and economists across the ideological spectrum increasingly view his two terms as a time of little progress on the nation's thorniest fiscal challenges.

The number of jobs in the nation increased by about 2 percent during Bush's tenure, the most tepid growth over any eight-year span since data collection began seven decades ago. Gross domestic product, a broad measure of economic output, grew at the slowest pace for a period of that length since the Truman administration. And Americans' incomes grew more slowly than in any presidency since the 1960s, other than that of Bush's father.
What better proof than this that large increases in government spending don't produce better economic numbers? For more on the Bush numbers click on this.Here's more on George Bush the big government spender.Barack Obama might want higher taxation levels than George Bush,but there's no doubt Obama isn't going to repeal George Bush's spending levels.George Bush is something of an inspiration for Barack Obama's government spending plans.