Day By Day

Thursday, February 01, 2007

Bush's Economic Record

I have frequently opined that this administration's record of economic management has been better than any other in recent history. The evidence keeps piling up, but is largely ignored by the MSM. The result, many Americans still believe that these are hard economic times. They aren't.

The 2007 "State of the Economy" report has just been released. Go here to read the overview.

Important points:

Employment is at an all time high and unemployment is down to historic lows.

Real wages are rising faster than they did during the fabled 1990's.

Real after-tax income has risen by nearly ten percent under Bush.

Over 40 per cent of all households pay no federal income taxes.

Exports are at a record high.

Household wealth is at an all time high.

The poverty rate is declining and is lower than all but one year during the 1980's and 90's.

And for the deficit hawks, federal revenues are at all time highs, even as they decline as a proportion of GDP [unlike in the Clinton years].

Taken together the statistics point to a robust economy -- one that is performing better than any other major nation, and one in which the benefits are being felt at all income levels. This despite the bubble economy Bush inherited and the effects of terrorism. Bush's economic record is better than that of Reagans', of Clinton's, of almost any other president in our nation's history.

Well done! One more reason to consider Dubya one of our greatest Presidents.

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