Many say that McCain will continue Bush lousy economic record..so what?

Question

This is from the wall street journal this morning.

PRESIDENT BUSH HAS A GOOD ECONOMIC RECORD

The evidence shows that much of the Democratic Party's criticism of President Bush's economic record is wide of the mark, says Keith Marsden, a fellow of the Centre for Policy Studies.

How does the performance of the U.S. economy really compare with other advanced economies over the eight years of George Bush's presidency? Data published by the International Monetary Fund (IMF), the Organization for Economic Cooperation and Development (OECD), the World Bank, the International Comparison Program (ICP) (a cooperative venture coordinated by the World Bank) and the U.S. Census Bureau allow a nonpartisan, factual assessment, says Marsden.

Economic growth:

U.S. output has expanded faster than in most advanced economies since 2000.

The IMF reports that real U.S. gross domestic product (GDP) grew at an average annual rate of 2.2 percent over the period 2001-2008 (including its forecast for the current year).

President Bush will leave his successor an economy 19 percent larger than the one he inherited from President Clinton.

This U.S. expansion compares with 14 percent by France, 13 percent by Japan and just 8 percent by Italy and Germany over the same period.

The latest ICP findings, published by the World Bank in its World Development Indicators 2008, also show that GDP per capita in the United States reached $41,813 (in purchasing power parity dollars) in 2005; this was a third higher than the United Kingdom's, 37 percent above Germany's and 38 percent more than Japan's.

Household consumption:

The ICP study found that the average per-capita consumption of the U.S. population (citizens and illegal immigrants combined) was second only to Luxembourg's, out of 146 countries covered in 2005.

The U.S. average was $32,045; this was well above the levels in the UK ($25,155), Canada ($23,526), France ($23,027) and Germany ($21,742). China stood at $1,751.

Source: Keith Marsden, "Bush Has a Good Economic Record," Wall Street Journal, September 3, 2008.

Answer 1

I think I need some coffee.

Answer 2

You obviously don't have a job.

You obviously don't have to commute more than 30 miles a day

You obviously don't own a home.

You obviously don't have a clue.

Answer 3

That's alright.  They lied about Reagan's economic policies, as well.

Answer 4

The news in improving the dollar is going up the price of oil is coming down.

Yep the doom the liberals have been preaching is going away.

Answer 5

yeah..and giving the White House to a democrat with a democrat congress that has done NOTHING will make things better...lol...yeah that is the solution...lol...God help us!

Answer 6

They had best stay away from the economy if they are smart.   That is one area where Bush did a good job.  I would suggest that focus on his foreign policy, that is where there are cracks that can be exploited..

Answer 7

Thats just a republican, doing some journalism.

Our economy is in the worst shape ever, they say, we are looking like the next Great Depression...

Come on...

So, you think Bush has done a fine job...

How many millions of people have lost there homes???

Milk is up over $1.50 a gallon...

Next time you pump gas, I want you to SMILE the entire time, and announce to people around you that you Love the price of gas...

McCain will be the SAME!!!!!!!!

OBAMA/BIDEN 08

Answer 8

I agree with your assessment. Think how much better it would have been if many of President Bushes incentives had not been blocked by a democratic congress, or if they had sent a clean bill for his signature.as a side note, I see some people compare prices. When I startesd working, Gas was30 cents a gallon, and I made $2.20 per hour in a factory.When I retired gas was $3.00 per gallon and I made $24.00 per hour.It is a direct ratio and I paid the same value for gas as my income, so why the crying about prices.Wages went up 10 times, cars went up 9 times.Unless you want a luxury car.And people lost homes not because of Government, but by being stupid enough to think there is a free lunch.I didn't buy in to the lower rates and My little castle is still mine.

Answer 9

I see your Murdoch owned Wall Street Journal and raise you this.

http://en.wikipedia.org/wiki/Democratic_...

Democrats are better at the economy than Republicans.  Read it and weep.

Answer 10

The US population   increases about  1% a year and so does the labor force while the population in Europe is nearly constant  and is shrinking in Japan so one would expect that our total GDP should grow about 8% more.  What is absent from these numbers is the comparison of the Growth rate for GDP per capita, or the fact that  hourly wages have not increased.

""There are three kinds of lies: lies, damned lies and statistics."

Unfortunately for McCain people do not judge the economy by what the WSJ says, but by what their personal situation is, and with the increase in gas and food prices combined with stagnate of declining wages, he is in trouble.

Edit: I also notice that they use 2005 numbers for income comparison and not current numbers because, since 2005 the value of the dollar has fallen over 20% vs the EURO and almost as much vs the pound.

Answer 11

I agree, the economy is not bad for that top 5% that gets all the breaks, I'm sure...but its all about that top 5% for the Republican Party...they can care less about the rest of us wallowing in that other 95%.  This article is akin to the emperor's scribe telling the starving commoners that the kingdom is fine since the king still gets to eat his 10 course meal every day.

Answer 12

I completely agree with you. Also, the economy naturally falls and increases, so some of our finger pointing has nothing to do with the president.

People keep saying Bush had failed policies, but how will Obama's be successful?

When you tax businesses, that not only affects economic growth (jobs, alternative energy programs), but it affects prices of products and the workers who work for those businesses.  Why are we increasing taxes for people who have worked hard to get where they are in life?  

Answer 13

McCain will follow his own economic policies with some pointers from Reaganomics so I know we can't go wrong. Obama will bury the U.S. it's sad!!!

Answer 14

Well done!  The economy is not doing so bad.  GDP grew by better than 3% just this last quarter.  Some folks probably saved their checks for Xmas.  The fourth quarter will not be as weak as once thought.  It has taken time for Bush to turn around the slow economy he inherited from Slick Billy Clinton.  But it is finally turning.  

McCain-Palin '08 will keep it moving in the right direction, and give you a $2,500 tax credit that you can use along with your income to get better health care.  If you have a family they will give you $5,000 to contribute toward a family plan.  

Obama is going to raise every form of tax in this country.  It will destroy the gains the economy has begun to make.  Obama says he's giving 95% of Americans a tax cut.  What he really means is he's gonna give you a $1,000 rebate check.  Anyone making more than $42,000 in Obama's plan will get taxed harder.  Obama will kill what is left of small businesses in America.  Obama and the Democrat Congress will crush the economy.

McCain and Palin are the Mavericks we need to shake up Washington.