The subprime mess notwithstanding, Democrats now have the economy they've always wanted. While things were going good, in an effort to differentiate themselves from Republicans, Democrats went on a search-and-destroy mission on the economy, obviously not caring that Wall Street was also listening.

2003: Bu$h: worst jobs growth record since great depression!
Democrats are using the ghost of Herbert Hoover to taunt President Bush, who so far has the worst jobs growth record of any president since the Great Depression. With the economic recovery in full swing, the hiring gains that typically follow have not. The economy lost 2.6 million jobs since Bush took office – 1 percent in the private sector alone.

Every president since Hoover has seen the economy add jobs. That puts Bush on track to post the worst jobs record in nearly 70 years.

2003: George Walker Hoover?
The bad news for Bush is that even if the economy does add 2 million jobs by October 2004, he will still have presided over the only job-losing presidency since Hoover. And as Karl Rove surely knows, that name is never good company for a president seeking re-election. Since 1900, the only incumbent Republican presidents to lose second-term bids have been named Hoover and Bush.

2003: Economy not worst since Hoover.
The problem is, is that the economy is showing signs of a strong recovery. Jobless claims are down, inflation is down, and corporate profits are up up up. IBM reported last week that they will hire 50,000 new people in the first 2 quarters of next year. The stock market is also showing robust growth. My all measures the economy is doing well, and we have President Bush to thank for that.

2004: George Bush As Herbert Hoover? Oh Come On!
In what it called the first salvo in a $10-million advertising campaign aimed at defeating President Bush, the liberal group MoveOn.org released a TV ad it said would run in 16 cities in 10 states starting Thanksgiving week. The ad states that “George Bush is going to be the first president since Herbert Hoover to lead an economy that loses jobs. …Didn’t George Bush say his tax cuts would create jobs?”

2004: Kerry & Hoover, Perfect Together
In campaign speeches and on his website, John Kerry tells us that President Bush has “the worst economic record since the Hoover administration.” Herbert Hoover, of course, presided over the start of the Great Depression in 1929. There have been eight post-1945 recessions. How many do you suppose were worse than the 2001 recession? All of them.

2004: Worst Economy Since Hoover?
The first signs of poverty and the struggling middle class, were the number of newer model SUVs parked in driveways and alongside the streets. At first, I thought maybe because that's where these people were sleeping and living. But it turns out, that these are the homeowners and the reason that they can't park in their garages is because there homes are too small to hold all their possessions. In this "worst economy since Hoover," it seems like folks are cramped and stuffed into 2500-4000 sq ft. homes, and unable to fit their families of four and their possessions. So what doesn't fit, like the Bowflex, stairmasters, treadmills, pool tables, and etc., have to go into the 3-car garage. I wonder, if Al Gore had won in 2000, would people have bigger homes and maybe a storage shed out back to hold their stuff? Clearly, Bush has failed to lead. If John Kerry wins, will these struggling people get the same kind of storage facilities that the members of the Senate get? Lord, I sure hope so.

2004: It's the worst economy since Hoover, you know
More evidence of our rotten economy from the House Joint Economic Committee….

New data from the respected Institute for Supply Management (ISM) show the economic expansion continues to accelerate into 2004, Vice Chairman Jim Saxton said today. Saxton referred to both the ISM index of manufacturing as well as the ISM index of non-manufacturing activity. Both indexes have recently reached levels in excess of the boom years of the late 1990s.

“The January ISM business survey index released today shows an increase to a level of 65.7 percent, the highest since this index was created in 1997,” Saxton said. “The ISM manufacturing index released a few days ago also reached its highest level since the height of the boom in the late 1990s."

Follow the link to find some nice graphs, if you're the visual learning sort. It seems fairly clear. If low investment – thus, poor business spending – was the problem….the fairly supply-side tax cuts were the obvious solution, both monetarily (long term) and psychologically (short term).

2004: Bush Jobs Record Still Worst Since President Hoover
Despite the job gains in March 2004, the Bush administration's labor market record still remains the worst since the Hoover administration, even if employment growth persists at the rate of job creation in March. The record of the Bush administration on job creation is so bad that even if the economy produces 308,000 new jobs ever month between now and January 2005 employment will have grown by only 0.9 percent, less than two thirds the rate of growth of the second Eisenhower administration which was previously the worst administration since President Hoover in job creation.

2006: Worst economy since Hoover
As headlines blare out Dow Jones Industrial Average Surges to New All-Time High this afternoon, I can’t help but think about the mantra repeated daily during the 2004 election by Democrats that the Bush economy was the worst in 50 years. people actually started believing it, too. Despite the fact that we’d fought back from a burst internet “bubble” caused by overspeculation (much like the overspeculation in the housing market in recent months), the worst attack on our mainland since 1814 and the beginnings of a recession.

2007: Worst Economy Since Hoover? I Blame Bush Too!
According to the US Commerce Department the US “economy grew at a 4.9 percent pace in the third quarter, the fastest in four years.” Matt at WMD was quick to jump on it crediting Bush and his tax cuts for the one piece of positive economic news to come out in a long time. Problem is: if you read the whole article you’ll get a totally different picture.

2008: A Progressive Mandate v. Worst Job-Creation Since Herbert Hoover
Our nation today is only now realizing the extent of the resounding victory for progressive ideals registered on election day. Progressives triumphed in all regions of the country and won overwhelming support from individuals of all different backgrounds. President-elect Barack Obama defeated John McCain decisively, winning the most votes in history and the largest share of the popular vote of any presidential candidate in two decades. Candidates running on progressive platforms helped Democrats expand their majorities in both houses of Congress. Democrats now have the most elected members of Congress any party has held since 1995.

Be careful what you ask for. You might get it, and it will affect everyone else as well.

This entry was posted on Tuesday, November 25th, 2008 at 12:19 pm and is filed under Economy, Politics. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.