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Willisms

« Could The Left BE Any Stupider? | WILLisms.com | Quotational Therapy: Part 137 -- Friedman, On Equality. »

Fair Is Fair

Via Lorie Byrd at Wizbang we learn what the MSM refuses to tell us: the Bush economy is fricking stellar.

Mind you, in all fairness President Bush really has little to do with this. The president's power over the economy is routinely overstated - as if the federal government is the be all and end all of economic health in the nation.

But what's good for the goose is good for the gander. If we are to believe that Bill Clinton belongs in the upper tier of presidential quality due to the awesomely powerful unbelievable greatness of the economy during his tenure, the same goes for Bush 43.

Oh, did I mention that the most recent unemployment figures remained at 4.5% - lower than anything achieved during the Clinton administration? [ed. - not quite true! BLS does report 4.0% for the year 2000]. There was a time when this would have been considered dangerously inflationary. But now, with inflation well under control, I guess these are two more statistics the MSM wants to hide from you.

P.S. I suppose it is fair to point out that Bush's economic stats would be even better if he didn't have to contend with the Clinton recession when he assumed office.

Posted by Ken McCracken · 6 July 2007 04:06 AM

Comments

I will get on my two-year delay soapbox again. From the day of election, it is two full years before a president's actions affect the economy enough to make it his, versus the previous guy's. It takes time to take office, make proposals, get legislation passed, have it go into effect, and work any changes. Thus the Bush Economy is 2003-2010, the Clinton Economy 1995-2002, etc. This is of course approximate, as some parts of the economy are affected more quickly than others.

There a few things a chief executive can do to have effect before that, but they don't amount to much. Markets like fewer barriers, and the expectation of the rules remaining the same. A president can affect those, though as you point out, that's not what makes an economy go.

Posted by: Assistant Village Idiot at July 6, 2007 07:15 AM

If it's from WizBang, you can be confident it's crap. After all, they devoted a lot of pixels to promoting intelligent design, telling us how we're winning or have won in Iraq, and promoting all things Young Master Bush.

Of course, WizBang doesn't break a pattern here. They're wrong on the economy as well. What WizBang failed to tell you:

-- Salaries remain steady at 2001 levels. This at a time when productivity is up nearly 15%. This means we're working harder and longer for the same or less money.

---Median incomes have fallen for five straight years.

---The US has only 1.9% more jobs today than in March 2001. Private sector jobs are up only 1.5%.

---More than 3 million manufacturing jobs have been lost since 2000

---The poverty rate rose from 11.3% in 2000 to 12.7% in 2004.

---The number of people living in poverty has increased by 5.4 million since 2000.

---More children are living in poverty: the child poverty rate increased from 16.2% in 2000 to 17.8% in 2004.

Posted by: Jadegold at July 6, 2007 12:24 PM

I'm surprised we barely get by in this shit economy.

Posted by: Hoodlumman at July 6, 2007 04:33 PM

And if you apply that two-year rule to those numbers jadegold, what do we see?

Your first paragraph is more of the same poor logic. Poisoning the well is a rhetorical device, but a logical fallacy. When you argue by sneers, it tells people that sneers would work on you as an argument.

Posted by: Assistant Village Idiot at July 6, 2007 08:58 PM

AVI: There is no 'two-year rule;' you may as well have called it the 'completely fictional device I pulled from my nether regions rule.'

Posted by: Jadegold at July 8, 2007 02:45 PM

Thank you for your stunning refutation. I must conclude then that a president takes over complete blame and credit for the economy the day after the election?

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