A Record Recovery -- George Schultz

[obnoxiousdrunk]

Over the course of last week, we heard a lot from the Democrats about their record of economic achievement. So let's take the advice of a Democrat of yesteryear, Al Smith, the former governor of New York. His trademark phrase was, "Let's look at the record."

These charts show the rate of change in real gross domestic product and in employment from 1990 to last June. The shaded areas show recessions. The vertical lines show when President Bill Clinton took office and when he left. Because the economy has momentum, it's useful to look carefully at the trends in evidence at the time of presidential transitions. When you look at the record, a quick summary is this: President Clinton inherited prosperity; President Clinton bequeathed recession.

The 2001 recession was short and shallow, with employment - always a lagging indicator - the last part of the economy to rebound. The employment picture has been a little puzzling since the two main surveys - one asks existing establishments how many people are on their payrolls, and the other asks people in a large sample of households whether they have jobs - show slightly different patterns. In any case, by now a third piece of the record appears clear: the recession President Clinton left behind has turned into prosperity under George W. Bush.

Thanks, Al Smith, for your good advice.

[Worst Username Ever]

1. If they say it enough, it must be true. n/t

[Zynx]

2. What a stupid piece of shit.

[LuminousX]

3. Link? Source?

thanks

[LittleApple81]

4. Do you have a link? But we know we are in the repug HALL OF MIRRORS...

and won't be let out ever again!

[Name removed]

5. Deleted message

Message removed by moderator. Click here to review the message board rules.

[obnoxiousdrunk]

10. This is the

f*ck I'm talking about.

http://www.nytimes.com/2004/08/04/opinion/04shultz.html

[gpandas]

13. thanks for the link...

a lot of "fucking around" could be avoided by posting link in first place.

[displacedtexan]

6. Ah, the uneducated masses have a new lie to spread...

SS DD.

[BlueEyedSon]

7. What is with all these DU'ers NOT including links?

http://www.nytimes.com/2004/08/04/opinion/04shultz.html



I think these graphs are suspect. Clinton's numbers look relatively LEVEL, but these numbers are the year over year % change. If you look at Clinton's employment change %, you have to imaging a 2% (approx) increase compounded for 8 years, not too shabby. The actual employment % (rather than yearly change) would show a better picture.

I would love to see graphs of PCI, Household debt, National Debt, etc.

What a crock of sh*t.

[BlueEyedSon]

12. Ahhh, here we go....

More: http://www.academycomputerservice.com/economics/charts.htm

[billybob537]

8. George"Carlisle Group" Schultz

attacking Clinton What a surprise "quick get the smelling salts I've got the vapors lordy"

[Name removed]

9. Deleted message

Message removed by moderator. Click here to review the message board rules.

[Swede]

11. With rightwing idiots maybe.

[bobbyboucher]

14. Economies go up, economies go down, it is

the little details inside that count. This economic upswing looks fair on paper, but behind the scenes you have large amounts of off the rolls unemployed, huge underemployment, people working harder, longer, for less wages.

People are still losing their health insurance. Health costs eating up more and more of income. More ane more people are falling below the poverty level. Gas prices eating at your pocket.

The government has poured unprecedentd, borrowed billions into the fray, mostly toward the haves, or corporations or directly to the Iraq carpetbaggers.

The rich are doing better than ever. Exxon/Mobile is setting records.

Just face it pal, things were way better under Clinton, quit drinking the kool-aid. This economy sucks.