After meeting with his economic advisers, President Bush reiterated his confidence today that the nation's economy would improve soon.
Fron the New York Times, President Bush will put new protections into the economic system, please read here.
Thing is this was 1990 and President Bush, the father. A little history. As much as things change they stay the same.
It's like deja vu, because the first recession during the first GW Bush term started in the 3rd quarter of 2000, according to National Bureau of Economic Research. So, George W. Bush was somehow able to create a recession after only 8-9 months in office. Wow, he must have magical powers. The fact is that the recession in the first GW term was inherited from Clinton.
It's amazing how 6 years of overspending by the Clinton administration can be overshadowed by 2 years of surplus that didn't even skim the surface of the deficit he created. In fact, during Clinton's first six years in office, his deficit averaged $196B per year. That's OK though, because he managed a surplus totaling $201B over his last two years. It must be great to get praise for a deficit totaling $978,700,000,000 over the entire 8 years of your presidency. Thanks Bill.
No, I do think that some of Bush's policies have pushed our economy into the negative, but at the same time, I am sick of everyone praising Clinton for a junk surplus. Clinton's deficit over his two terms reached almost a trillion dollars, and that takes into account the surplus in his last two years.
I'd be willing to bet that if I went crazy and spent a lot money at the grocery store for the first 3 weeks of the month, I probably wouldn't need to spend too much in the last week of the month.
The fact is that everyone blames Bush, yet praises Clinton. Give me a break, and remember, the president is only one person, and doubt he's sitting there with a magic wand making all the decisions.
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