Monday, July 10, 2006

Nothing to brag about

Think Progress spells out what should be obvious to everyone. The Bush administration has presided over an anemic economy while at the same time exploding our national deficit. Recent efforts by the administration to put their economic accomplishments in a good light suddenly pale when placed in the proper context.

Let’s set aside for a moment that the “fact sheet” conveniently ignores the 22 months of jobs losses that proceeded August 2003. Instead, let’s put Bush’s job record since August 2003 in perspective:

1. Monthly job growth since August 2003 is 50% lower than the average of President Clinton’s entire term. Since August 2003, job growth has averaged 160,000 per month. During Clinton’s eight years in office job growth averaged 236,000 per month.
2. Real wages have fallen since August 2003. The average worker’s real wages were twenty cents lower in June 2006 than they were in August 2003.

Any way you slice it, Bush’s economic policy has resulted in slower job growth and lower wages. That’s nothing to brag about.

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