The Economy Is Doing Great, Isn't It?

In anticipation of the midterm elections, the Bush administration and its compliant media cohorts are talking about the dramatic improvement in our economy.

•Gas prices are declining.
•The annual budget deficit has been cut in half.
•The Dow Jones Industrial Average just reached an all time high!!

While these things are true, it's sort of like saying you are being nicer to your cat because you aren't kicking it as often. I hate to be fussy, but let me put their boasts into context by comparing these three statistics to when George W. Bush became president on January 20, 2001.

GAS PRICES PLUMMET

Gasoline prices rose to an all time high during the Bush II administration. There's nothing like $3+ gas to make you appreciate gas at $2.50 a gallon. By the way, gas prices when Bush took office were $1.50 per gallon.

FEDERAL BUDGET DEFICIT SLASHED.

This year's federal budget deficit is projected to be a mere $248 billion. The 2004 Bush deficit was $413. This is certainly a decrease, but it should be noted that Bush's predecessor, Bill Clinton, that free-spending liberal, had federal surpluses during each of his last four years as president.

On January 20, 2001, the total debt accumulated by all 42 presidents during the previous 212 years was $5.7 trillion. In less than six years, the Bush II's administration has added an additional $2.8 to our country's debt. Each American now owes about $28,000.

DOW SKYROCKETS

But none of that matters as long as the stock market is doing well. Right?

It is true that the Dow Jones Index has never been higher, but this index of 30 of the largest American stocks rose just 13% during Bush's six years in office. During Clinton's eight years in office the Dow rose an astonishing 226%.

If nothing else, you have to give the Bush administration credit for their ability to put a good light on drab numbers.
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