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Bush vs Clinton's Economy

Discussion in 'Politics & World News' started by N8 v2.0, Jul 28, 2004.

  1. N8 v2.0

    N8 v2.0 Not the sharpest tool in the shed

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    Apples And Apples
    INVESTOR'S BUSINESS DAILY | Wednesday, July 28, 2004 | Editor

    Politics: Bill Clinton was in rare form at the Democratic Convention Tuesday, comparing his economic record to George W. Bush's. Not fair. The president's is better.

    "Our way works better," the former president boasted in his Monday night address, touting a '90s economy that "produced 22 million good jobs, rising incomes and 100 times as many people moving out of poverty into the middle class." He also lauded his record on the budget, touting "three surpluses in a row."

    How could Bush hope to match such accomplishments? Well, remember: Bush is still in his first term. He inherited a recession and slumping job market from Clinton.

    Clinton, on the other hand, took over when both the economy and jobs were growing and picking up pace. Inflation was still in a decadelong decline.

    So let's measure first term against first term — apples to apples. If we do, Bush comes out on top — even after 9-11.

    Don't believe it? Look at the key gauges of our well-being — growth, inflation, unemployment, disposable income (what's left after taxes), productivity, household assets and consumer confidence.

    On most of these, Bush wins. Yes, GDP growth on a year-over-year basis is a bit slower. But, as we noted, Bush took office with a recession under way. It wasn't Bush's recession; it was Clinton's.

    As for the other data, here's how Bush's first-term stacks up: Inflation? Lower. Disposable income? Higher. Household assets? Richer. Consumer confidence? Slightly lower, but comparable. Unemployment? A bit higher, but again about the same. Productivity? Way better under Bush.

    Clinton deserves credit for a strong second term. But even that record needs an asterisk. After stumbling badly in 1993 and early 1994, and with his popularity and the economy weakening, he got lucky: The GOP won control of Congress.

    Republicans pushed Clinton to sign on to welfare reform, capital gains tax cuts and spending curbs that produced a booming economy and balanced budget. They kept him from raising taxes, as he did in 1993, when his record tax hike nearly sank the economy. They also kept him from signing the Kyoto Global Warming Treaty.

    Bush's record, we suspect, will look even better four years hence. All the key elements for a sweet decade of economic growth are in place. But you won't hear that in Boston.

    Source: http://www.investors.com/editorial/issues.asp?v=7/28
     

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  2. fluff

    fluff Monkey Turbo

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    'Tis a pity they had to skew the unemployment stats in Bush's favour with the "*last month of term" rider. Subtle though.

    If Bush does get a second term I have a feeling it might not look so good on a second term comparison, unless a further step is taken down the selective stats path. There's that old surplus/deficit issue just waiting to bite.

    Deficit Thingy
     
  3. N8 v2.0

    N8 v2.0 Not the sharpest tool in the shed

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    The figure is nearly $100 billion less than the $500 billion indicated in your link.

    :nope:
     
  4. LordOpie

    LordOpie MOTHER HEN

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    N8, do you ride a fixed gear bike?
     
  5. N8 v2.0

    N8 v2.0 Not the sharpest tool in the shed

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    :eek:
     
  6. fluff

    fluff Monkey Turbo

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    Should give you a warm feeling then, your kind of statistic...

    How'd you think the BBC got it so wrong?
     
  7. fluff

    fluff Monkey Turbo

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  8. Westy

    Westy the teste

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    I have to stick with N8 here. I mean a post from a guy on the internet with a smilie wagging his finger is much more reliable than the BBC or even the spot I heard about the deficit on NPR this morning.
     
  9. fluff

    fluff Monkey Turbo

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    You are right. On reflection N8 bettered me there with a well-structured and erudite argument.

    Expect resignations from the BBC also.
     
  10. N8 v2.0

    N8 v2.0 Not the sharpest tool in the shed

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    Bush Seen Projecting Record Deficit
    ReutersTue Jul 27 | Anna Willard and Caren Bohan

    WASHINGTON (Reuters) - The White House is expected to project soon a record federal budget deficit of about $420 billion for 2004, which could give ammunition to both sides of the election-year debate over tax and spending policies.

    Congressional sources said on Tuesday the White House review of the current fiscal year, which ends Sept. 30, was likely to project a deficit about $50 billion greater than 2003. But the new figure would be nearly $100 billion less than forecast five months ago.

    A congressional aide who spoke on condition of anonymity said the $420 billion figure is "what people are talking about" on Capitol Hill. Others gave a similar figure, which would be a record in dollar terms.

    Yadda...yadda..yadda...


    :nuts:
     
  11. fluff

    fluff Monkey Turbo

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    So to recap:

    The Congressional Budget Office (non partisan) project $477 Billion.

    The White House (Bush's somewhat more partisan administration) project $420 Billion.

    When's that election again?

    Especially for you N8 - :mumble:
     
  12. Slugman

    Slugman Frankenbike

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    Wow, $420 Billion not $477 Billion... that has me convinced, I'll re-elect Bushy :nuts:
     
  13. Serial Midget

    Serial Midget Al Bundy

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    Hmmm... looks like Fluff was right.
     
  14. ire

    ire Turbo Monkey

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    What? Our economy is strong like bull

    with its nuts, horns and legs removed
     
  15. N8 v2.0

    N8 v2.0 Not the sharpest tool in the shed

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    Dims in control of the Congress for the last 2 years has been a disaster.
     
  16. narlus

    narlus Eastcoast Softcore
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    agreed. they haven't been able to stop the financial sinkhole that is Iraq. i wonder how that started???
     
  17. N8 v2.0

    N8 v2.0 Not the sharpest tool in the shed

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    i wunder two...


     
  18. sanjuro

    sanjuro Tube Smuggler

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    Looks like Clinton did the right thing. He ordered a strong inspection system, and it prevented any WMD. Remember, we never found any.
     
  19. narlus

    narlus Eastcoast Softcore
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    :clapping:
     
  20. fluff

    fluff Monkey Turbo

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    Ooh, that hurts. Subtle though.

    And just to add to N8's warm feelings, with regard to Iraq the problem is not so much that we got rid of Saddam (a good thing) it is that we appear to have had no idea of how to proceed once that was done. Which was not so smart given the fact that deposing him was never going be the hard bit, given the overwhelming military superiority possessed by the US.

    Still, I imagine that was Carter's fault.
     
  21. ohio

    ohio The Fresno Kid

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    I blame Washington. He set in place the chain of events that led to America the superpower. We never would have gotten into this war if we weren't a superpower.
     
  22. Ciaran

    Ciaran Fear my banana

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    But none of that would have happened if King George wasn't being an asshat to the colonists. If anything this whole debacle is Englands fault.
     
  23. DaveW

    DaveW Space Monkey

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    Shardup an drink yer tea!
    Damn upity colonials. :rant:
     
  24. skinny mike

    skinny mike Turbo Monkey

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    there wouldn't have been any colonists had those damn pilgrims stayed on their side of the pond.
     
  25. Kevin

    Kevin Turbo Monkey

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    How many people has Bush gotten killed world wide compared to Clinton?
     
  26. Ciaran

    Ciaran Fear my banana

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    They were forced to move. Holland didn't want them either. Hey...... maybe this is all the fault of Holland! We should all neg rep Kevin for this mess we're in.

    coffee > tea
     
  27. Mtbike

    Mtbike Monkey

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    There is only one political party, the wealthy.
     
  28. Ciaran

    Ciaran Fear my banana

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    A couple of days late but + rep for that one. Depressing but very true.
     
  29. ire

    ire Turbo Monkey

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    Agreed, it seems like both parties suck these days and are just serving their own/special interests
     
  30. Ciaran

    Ciaran Fear my banana

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    "These days"? Please! This has been going on for as long as we've had leaders.

    Maybe I am a cynic but I believe that ALL politicians are corrupt. The only REAL difference between the repubs and dems (and any other party for that matter) are the lies they tell.
     
  31. Inclag

    Inclag Turbo Monkey

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    bump!
     
  32. fluff

    fluff Monkey Turbo

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    I like this thread - it has teh magic words in it.
     
  33. X3pilot

    X3pilot Texans fan - LOL

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    fixed..
     
  34. narlus

    narlus Eastcoast Softcore
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