Comparing Plans: Bush Saw 23.8% Growth in 6 Months… Obama Saw -5.2% Growth in 6 Months
Those “Failed Policies” During Bush Years Saw 23.8% Growth in 6 Months
President Obama attacked George Bush’s economic record in early 2008:
Bush’s plan passed in April 2003 while Obama’s passed in February 2009. I chose the S&P 500 Index starting point one month prior to passage because the market typically discounts the information beforehand as the bills work their way through Congress. I chose 6 months-post passage as the ending point because that’s all the data we have for Obama’s plan so far.
Bush: From March 2003 to October 2003, the S&P 500 went from 835 to 1034 or 23.8%.
Obama: From January 2009 through July 2009, the S&P went from 932 to 879 or -5.2%.
By way of comparison, I also reviewed the market returns a full year prior to these time periods and the results show a very similar situation.
The S&P 500 return under Bush 1-year prior was -26.2%, hurt by the internet bubble collapse, 9/11 and corporate scandals. Trillions of dollars in lost wealth.
The difference, of course, is that George Bush gave people back their hard-earned money.
Barack Obama, on the other hand, spent more and borrowed more of your money and will take more of your money.