There are some startling numbers that show how badly the Bush Administration and the GOP-controlled Congress hurt the US economy. Unlike Reagan, Bush and the GOP leaders cut taxes, but didn’t reduce spending. This is one reason why nearly everyone is talking about a national recession.
According to the GOP loving Fox News, in the first six years of the Bush administration, only 3.7 million jobs were created. For the same period,under Bill Clinton, 13.7 million jobs were created.
From 2001 to 2005, median income, for people under 65, went down $2,000.
The one positive economic stat is Gross Domestic Products (GNP). From 2001 to 2007 it went by 35 percent.
However, this didn’t happen by growing jobs or by growing personal income. It grew by adding debt – both for the nation and its people.
Bush administration may go down as the worse administration in regards to managing this economy since Herbert Hoover. It definitely is on par with the Carter years.