Bush Economy Stronger Than Clinton Bubble
The Bush economy continues its climb back from the Clinton Recession…
And, it appears the Bush Boom is stronger than the Clinton bubble (and eventual recession) in many ways.
The Examiner reports:
WASHINGTON (Map, News) – The White House says the economic surge that began five and a half years ago on President Bush’s watch is more robust than the much-touted expansion during the Clinton administration.
“This is a much stronger expansion in a lot of ways,” White House spokesman Tony Fratto told The Examiner. “It’s much deeper and more measured.”
Fratto’s assertion was disputed by Gene Sperling, economic adviser to presidential candidate Hillary Rodham Clinton, who spoke to The Examiner in his capacity as former National Economic Adviser to President Bill Clinton…
Fratto cited last Friday’s stronger-than-expected jobs report as evidence of the strength of the economy under Bush. The Labor Department reported that 180,000 new jobs were created in March and the unemployment rate fell to 4.4 percent, matching a five-year low.
“If you go back to this point in the Clinton expansion,” Fratto said, “they would have loved to have seen the numbers that we have right now.”
“On the unemployment rate, we’re a full percentage point below where they were at the same point in the expansion – 60 or 61 months in,” he said. “They would have loved to have been at 4.4 percent. They were still up in the mid-5s, which is huge, when you think about it.”
Don’t expect this to get major media coverage, though.
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However… There is one sector that is experiencing great difficulty.
The value of biased media organizations is at a low water mark.
Hat Tip Jamie Allman and Smash at 97.1 FM.