Hope and Change–
The US economy enjoyed 7 straight years of unimpeded economic growth during the Bush years. The Bush tax cuts lifted the country out of its recession until the mortgage bubble erupted and the economy took a sudden nosedive in last half of 2008– something Bush repeatedly warned Congress about.
Unlike Bush, President Obama decided to spend his way out of his recession.
Here’s how it’s worked out:
Economists expected a 5 percent annualized decline in the first quarter but instead saw the economy drop by 6.1%.
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Despite the recession he inherited, 9-11, stock market scandals, Hurricane Katrina and two wars in Iraq and Afghanistan, the unemployment rate during the Bush years averaged out to 5.27%.
(Numbers from the US Misery Index)
The Obama unemployment rate is at 8.07%.
And, then there are the deficit and debt numbers…
President Bush was able to bring the US deficit down 3 of his 8 years in office:
Barack Obama will quadruple the deficit this year.
More… Factory orders tumble.