Real GDP growth under Bush was an average of about 2.9% including the vast majority of his time before the crisis, in the last three years growth has been about 2.16% averaged out but there is a significant problem here. The Bush years were marked by the housing bubble which created increased consumption, but of course it was not sustainable and caused the crash. If we subtract home equity extraction experts like Niall Ferguson estimate average growth for the Bush years was about 1%.
Bush made tax cuts, Bush encouraged business for the trickle down effect with those unfunded tax cuts and yet growth was negligible and sustainable growth was much lower than it is no AFTER a crisis, my question to conservatives is given the complete failure of those tax cuts to create growth why do you imagine that the same policies will work now? Also why is growth effectively better now than during the Bush years?
by logic,commonsense5 years ago
Read an article on MSN that the projected deficit for this year is 1.5 trillion dollars. Makes bush look like a piker with his measly 3-400 billion dollar deficits.Course there will be those that forget that bush...
by phion4 years ago
The title is misleading, because I have no answer as to why he does. Can those of you who plan to vote, or voted for Obama the first time give some valid reasons?
by Susie Lehto5 months ago
Barack Obama will be lucky to average a 1.55% GDP growth rate.According to Louis Woodhill, if the economy continues to perform below 2.67% GDP growth rate this year, President Barack Obama will leave office with the...
by Ralph Deeds4 years ago
" ...The defining economic policy of the last decade, of course, was the Bush tax cuts. President George W. Bush and Congress, including Mr. Ryan, passed a large tax cut in 2001, sped up its implementation in 2003...
by Josak4 years ago
A report from the Congressional Research Service finds there is no correlation in American history between economic growth and the lowering of taxes but that lower taxes on the rich do increase the wealth gap (how...
by Holle Abee5 years ago
This from the Washington Post, which endorsed Obama for POTUS:http://voices.washingtonpost.com/postpa … _befo.html
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