Monday, January 12, 2009

Like Father, Like Son

Although Dubya wasn't as astute in the international arena as his father was it seems like he followed in his papa's footsteps when it comes to the economy.

From the Washington Post...
President Bush has presided over the weakest eight-year span for the U.S. economy in decades, according to an analysis of key data, and economists across the ideological spectrum increasingly view his two terms as a time of little progress on the nation's thorniest fiscal challenges.

The number of jobs in the nation increased by about 2 percent during Bush's tenure, the most tepid growth over any eight-year span since data collection began seven decades ago. Gross domestic product, a broad measure of economic output, grew at the slowest pace for a period of that length since the Truman administration. And Americans' incomes grew more slowly than in any presidency since the 1960s, other than that of Bush's father.

"It's sad to say, but we really went nowhere for almost ten years, after you extract the boost provided by the housing and mortgage boom," said Mark Zandi, chief economist of Moody's Economy.com, and an informal adviser to McCain's campaign. "It's almost a lost economic decade."

In looking at the highlight reel (or lowlight as the case may be) of Bush's last press conference today, one thought comes to mind: "He was in over his head from Day 1."

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