Economic indicators

Discussion in 'Current Events' started by MtnBiker, Mar 31, 2004.

  1. MtnBiker
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    MtnBiker Senior Member

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    1. Unemployment rate after GWBush's 3rd year is identical to after Clinton's 3rd year.
    2. Family poverty rate is lower, on average, under GWBush than under Clinton.
    3. "Deep" poverty rate is lower, on average, under GWBush than under Clinton.
    4. Homeownership rate is now higher than anytime in history.
    5. Inflation rate fell more under GWBush than Clinton and is now lower after GWBush's 3rd year than Clinton's 3rd year.
    6. Growth rate of the national debt per American is nearly the same as during the 1990s.
    7. Federal Deficit as a % of GDP is nearly the same as the past six decades average.
    8. Number of people employed rose more than number of unemployed under GWBush.
    9. Tax burden for middle-class families was reduced FAR more than for "rich" families.
    10. Average hourly and weekly earnings rose more under GWBush than Clinton and are now higher than ever in history.

    The Details

    1. Unemployment Rate -

    Jan 2004: 5.6% (After GWBush's 1st three years)
    Change in rate from prior year (Jan '03-'04): 0.3%, Decrease

    Jan 1996: 5.6% (After Bill Clinton's 1st three years)
    Change in rate from prior year (Jan '95-'96): 0.0%, No change
    * The Unemployement Rate is the same after GWBush's 1st three years as it was after Bill Clinton's 1st three years.
    * The Unemployment rate steadily declined in the third year with GWBush while it remained unchanged in Bill Clinton's third year.
    Source:
    Bureau of Labor Statistics


    2. Poverty Rate For Families (Two-Year Average) -

    2001-2002: 9.40% (GWBush's 1st two years)
    1993-1994: 12.95% (Clinton's 1st two years)
    1993-2000: 10.50% (Average for Clinton's full eight years)
    * The % of families living in poverty is lower after two years under GWBush than after two years under Bill Clinton - even lower than 7 out of 8 of Clinton's years in office.
    Source: US Census


    3. Percent of People Below 50 Percent of Poverty Level (Two-Year Average) -

    2001-2002: 4.95% (GWBush's 1st two years)
    1993-1994: 6.05% (Clinton's 1st two years)
    1993-2000: 5.31% (Average for Clinton's full eight years)
    * The % of people living in deep poverty is lower after two years under GWBush than after two years under Bill Clinton - even lower than the average across Clinton's entire TWO terms of office... AND lower than ANY of Clinton's 1st six years in office.
    Source: US Census




    4. Homeownership Rate -

    GWBush's 1st three years:
    4th Quarter 2000: 67.5% (before GWBush)
    4th Quarter 2003: 68.6% (after 3 years of GWBush)
    Difference: +1.1%

    Bill Clinton's 1st three years:
    4th Quarter 1992: 64.4% (before Clinton)
    4th Quarter 1995: 65.1% (after 3 years of Clinton)
    Difference: +0.7%
    * The Homeownership Rate is higher under GWBush's 1st three years than under Bill Clinton's 1st three years.
    * The Homeownership Rate grew MORE in the 1st three years with GWBush than in the 1st three years with Bill Clinton.
    Source:
    US Census

    5. Inflation Rate -

    GWBush's 1st three years:
    Jan 2001: 3.73% (before GWBush)
    Jan 2004: 1.93% (after 3 years of GWBush)
    Difference: 1.8% Decrease

    Bill Clinton's 1st three years:
    Jan 1993: 3.26% (before Clinton)
    Jan 1996: 2.73% (after 3 years of Clinton)
    Difference: 0.53% Decrease
    * The Inflation Rate is lower after three years of GWBush than it was after Bill Clinton's first three years.
    * The Inflation Rate declined over three times greater under GWBush than under Bill Clinton.
    Source:
    Inflation Data.com


    6. National Debt per American Citizen -

    1940-1950: Increased at 11.2% annual rate. (WWII and reconstruction)
    1990-2000: Increased at 1.6% annual rate. (no lengthy military conflicts)
    2000-2004: Increased at 2.5% annual rate. (Afghanistan, Iraq, reconstruction and war on terror)
    * The national debt per citizen is growing at a rate nearly equal to the "peace-time" rate of the 1990s.
    Sources:
    US Treasury

    US CensusCPI calculator


    7. The Federal Deficit As A Percentage Of GDP -

    Avg. Post-WWII (1946-2002): 1.6%
    GWBush Budget (2002-2008): 1.8%
    * As a % of The GDP, The Deficit Under GWBush Nearly Identical To The 58-Year, Post-WWII Average.
    Sources:
    Citing OMB Statistics


    8. Employment Numbers (Total US Civilian labor force ) -
    GWBush Starts, Jan 2001:
    Employed: 135,999,000
    Unemployed: 5,956,000
    "discouraged": 303,000

    3 Years Later, Feb 2004:
    Employed: 138,301,000 (+2,302,000 more than 2001)
    Unemployed: 8,170,000 (+2,214,000 more than 2001)
    "discouraged": 484,000 (+184,000 more than 2001)
    * Number of employed people increased by 88,000 more than the number of unemployed people under GWBush.
    * Even factoring in those who're "discourged" and stopped looking for work, the increase in unemployed+discouraged was less than 100,000 more than the increase in employed.
    Sources: Bureau of Labor Statistics

    Bureau of Labor Statistics


    9. Tax Burden, "Middle-Class Family" compared to "Rich Family"-

    Taxes Owed by "Middle-Class Family", Head of Household, 2 kids, $35,000/yr Income:
    Before Bush Tax Cut: $1,128
    After Bush Tax Cut: $328
    Net Change: $800 LESS taxes owed.

    Taxes Owed by "Rich Family", Head of Household, 2 kids, $250,000/yr Income:
    Before Bush Tax Cut: $65,879
    After Bush Tax Cut: $61,963
    Net Change: $3,916 LESS taxes owed.
    * Effect of Bush's Tax Cut On "Rich Family": Tax Burden Reduced by 5.94%
    * Effect of Bush's Tax Cut On "Middle-Class" Family: Tax Burden Reduced by 70.95%
    Source:Heritage Foundation

    10. Earnings, Private Sector (all figures in 2004 dollars, CPI-adjusted) -

    Average Hourly Earnings Under GWBush:
    Jan. 2001: $14.79
    Feb. 2004: $15.52 (+4.9% increase)
    Average Hourly Earnings Under Clinton:
    Jan. 1993: $14.29
    Feb. 1996: $14.33 (+0.3% increase)
    * +4.9% Increase In Avg Hourly Earnings Under GWBush's 1st Three Years.
    * +0.3% Increase In Avg Hourly Earnings Under Clinton's 1st Three Years.
    Average Weekly Earnings Under GWBush:
    Jan. 2001: $507.27
    Jan. 2004: $523.56 (+3.2% increase)
    Average Weekly Earnings Under Clinton:
    Jan. 1993: $493.35
    Jan. 1996: $487.87 (-1.1% decrease)
    * +3.2% Increase In Avg Weekly Earnings Under GWBush's 1st Three Years.
    * -1.1% Decrease In Avg Weekly Earnings Under Clinton's 1st Three Years.
    Sources:
    Bureau of Labor Statistics
    Bureau of Labor Statistics
    Bureau of Labor Statistics


    A Few More Tidbits

    * "2004 Will Be the U.S.'s Best Year Economically in Last 20 Years" ~ The Conference Board's revised forecast, December 2003.
    * Manufacturing is at 20-year record highs.
    * GDP for the second-half of 2003 grew an incredible 6% and at 4.2% for the year all the while inflation was held under 2%
    * Real private-sector GDP has expanded at a 5.3% annual rate since the Bush tax cuts were passed while in the prior six quarters private-sector GDP averaged only 2.5%.
    * Foreign exports have been increasing and actually doubled through the second half of 2003.
    * The net worth of all US households is $44.4 trillion, the highest level ever.
    * The stock markets (i.e. your pensions, IRAs, 401(k)s and college saving plans) have rebounded solidly and are approaching three-year highs. The stock markets are up 45% over the past year.
     
  2. MtnBiker
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    MtnBiker Senior Member

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    Bump
     
  3. Annie
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    Annie Diamond Member

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    I've noticed that the economic stories have fallen off the front pages. Now they want to talk about, (parse the news), the kind of jobs, etc. They are being driven to distraction.

    It is going to come down to the war, how the American people see it.
     
  4. 5stringJeff
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    5stringJeff Senior Member

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    Great stats... and a great reminder that the economy is rebounding, despite the howls from the Left that this is the worst economy since the Depression.
     
  5. NightTrain
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    NightTrain VIP Member

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    It's amazing to me that anyone doubted the effect that the massive tax cuts would have upon the economy.

    You can't tax your way out of a recession. It seems pretty simple, but many don't seem to grasp that.
     
  6. MtnBiker
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    MtnBiker Senior Member

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  7. tim_duncan2000
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    tim_duncan2000 Active Member

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    You have to remember that only the economic news that makes Bush look bad matters.
     
  8. MtnBiker
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    MtnBiker Senior Member

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    Bump again
     
  9. DKSuddeth
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    DKSuddeth Senior Member

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    Lies.They are all republican Lies. :teeth:
     
  10. MtnBiker
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    MtnBiker Senior Member

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    I know, damn partisan bureau of labor. :D
     

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