Let’s review them
Barack Obama and the Democrats repeatedly use the phrase “The Bush failed economic policies.” Yet the facts reveal their dishonesty. Here is a brief review.
President Bush’s Economic Policies Resulted In Creation Of 8.31 Million Jobs Beginning August 2003 In The Longest Continuous Months Of Job Growth On Record
November 2, 2007, the Bureau of Labor Statistics released new jobs figures. From August 2003, 8.31 million jobs were created, with 1.68 million jobs created over the 12 months that ended in October. The economy added jobs for 50 straight months – the longest period of uninterrupted job growth on record. The unemployment rate remained at a low 4.7 percent.
The U.S. Economy Remained Strong, Flexible, And Dynamic
- Real GDP grew at a strong 3.9 percent in the third quarter of 2007. The economy experienced six years of uninterrupted growth, averaging 2.8 percent a year from 2001.
- Real after-tax per capita personal income rose by 12.7 percent – an average of over $3,800 per person – from when President Bush took office.
- Real wages rose 1.2 percent over the 12 months that ended in September. This rise was faster than the average rate during the 1990s.
- From the first quarter of 2001, productivity growth averaged 2.6 percent per year. This growth is well above average productivity growth in the 1990s, 1980s, and 1970s.
- The deficit was at 1.2 percent of GDP, well below the 40-year average. Economic growth contributed to a 6.7 percent rise in tax receipts in FY 2007, following an increase of 11.8 percent in FY 2006.
So Obama and the Democrats continue to lie about the Bush economic policies. It is just one more important story that the Obama Media do not want you to hear.