Bush v Clinton, Which Was Better For the Economy

September 16, 2008 at 6:52 am | Posted in American politics | 5 Comments

Kos raises a great point.

On January 20, 2001, the Dow Jones Industrial Average, the bellwether of the health of major stocks, closed at about 10,864.

On September 15, 2008, the Dow Jones Industrial Average closed at 10,917.

In seven and a half years, that is a gain of a grand total of 53 points, barely .5% increase.

On January 22, 1993, the Dow Jones Industrial Average closed at about 3256.

On January 20, 2001, the Dow Jones Industrial Average closed at about 10,864.

In eight years, that is a gain of 7608 points, or about 334% increase.

Who ran the country better? Who made sure not to mess with the economy? Which president left office with a balanced budget, in fact a surplus! Under which president did most Americans GAIN in their investments? Which president was actually better for business? How many major companies collapsed under Clinton versus how many major companies collapsed under Bush? Frankly it is not looking good for the Republicans.

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5 Comments »

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  1. Perfect. Thanks for pointing this out.

  2. It’s always hard to say whose fault things really are. Do we blame the Republican President exclusively, the Democratic House and Senate, or is there enough blame to go around for everybody?

  3. Charlie,

    No prob.

    Mark,

    The blame, in this particular case, can be attributed to Phil Gramm who authored a bill back in 1999 to break down the barriers between investment banking and commercial banking that had been set in place since the Great Depression.

    The blame can further be put on Congress for passing that bill (i think the final vote was 54-44). The blame can further be put on President Clinton for signing it into law.

    The blame can then be placed on Wall Street for getting super greedy and super lax with their own lending practices and principles.

    The blame can then be placed on greedy mortgage companies who pressed bad loans on people who couldn’t, or wouldn’t otherwise take them.

    The blame can then be placed on homeowners who themselves drank the same kool-aid and jumped into homes they could not afford, or maintain over a long haul.

    Mix in increasing health care costs and a near tripling of the price of gas over the last several years, and you have quite a nasty mix.

  4. Did the REPUBLICAN Congress have anything to do with that or was it all Clinton. I mean the man was good getting hummers in the oval, shooting milliondollar missle in the desert and creating a roaring economy…….he was the man…LOL

  5. RF,

    The Republican Congress did have something to do with it. My point is that a Republican president with a Republican Congress messed it all up.


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