Bush’s Real Record On the Economy
An editorial from Investor’s Business Daily sets the record straight on Bush and the economy:
Years from now, pundits and academics will surely wonder why President Bush’s greatest achievement–his stewardship of the economy–got so little notice during his time in office. Yet that’s how it is.
Bizarrely, polls show that many people think the economy has fallen into a recession. Or that we never left the slump that began in March 2001, a bare month and a half after Bush entered office, and that ended in November of the same year.
Last summer, a national poll taken by American Research Group showed 38% of Americans thought the economy was in a recession. By last month that had fallen to 28%, but it’s still a big share. Of course, we weren’t in a recession. Nor is it the case, as also has been asserted, that “things got worse” under Bush.
What factually is true is Bush faced the greatest economic challenge of any incoming president since President Reagan. Like Reagan, Bush met the challenge–something for which the media and his foes refuse to give him credit.
It’s hard to overemphasize how nasty things were. But the media were too busy penning loving tributes to President Clinton to note that the economy was falling apart as he left office…
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