Bush and Reagan were terrible presidents by the numbers
Reagan GDP Changes of -3.2%, -4.9%, and -6.4%.
Bush GDP Changes of 1.8%, 1.3%, -3.7% and -8.9%
Misery Index Under Reagan in 1981: 19.33
Misery Index Under Bush in August 2008: 11.47
Unemployment under Reagan 1982: 9.7%
Unemployment under Bush (beginning 2009): 9.3%
Number of unemployed under Bush rose 22,000,000 from 2000-2008
From 1981-1982, 1,126,000 jobs were lost by Reagan.
In 1983, after losing over 1 million jobs, having over 9% unemployment, and posting losses in GDP, Reagan's approval rating was 40%.
In 2008, after starting multiple wars, driving up the deficit, and seeing the recession begin to start, president George W. Bush's approval rating was under 30%.
President Bush racked up 2.779 trillion in debt in 2 years as president.
PolitiFact | Cantor and other Republicans say Obama promised stimulus would keep unemployment rates below 8 percent
--------------------------------------------We think it's a big stretch to call an economic projection a "promise." The administration never characterized it that way and included plenty of disclaimers saying the predictions had "significant margins of error" and a higher degree of uncertainty due to a recession that is "unusual both in its fundamental causes and its severity." And so we rule the statement by Cantor — and other Republicans who have said the same thing — Barely True.
Editor's note: This statement was rated Barely True when it was published. On July 27, 2011, we changed the name for the rating to Mostly False.
Also, question, what is it about the economists that I quoted that you disagree with?
Obama economic results in 2011,
.4% GDP and 1.3% GDP growth in 2011(bea.gov)
25+ million unemployed or under employed Americans in 2011(bls.gov)
2.6 million fewer jobs(bls.gov)
4.2 trillion added to the debt in less than 3 years(U.S. Treasury Site)
Downgrade of the U.S. credit rating(S&P)
Rising Misery index 7.83 to 12.97 (The United States Misery Index By Year)
38-41% JAR and well over 50-55% disapproval ratings(Gallup)
Where do you get this idea that Reagan doubled GDP?Quote Originally Posted by Conservative View Post
Right, Reagan really screwed up, doubling GDP, creating 17 million jobs and increasing govt. revenue by 69% with the tax rate cuts
Growth by Year for all Reagan fiscal years
Year Real GDP % Growth
1981 5,021.0 NA
1982 4,919.3 -2.0
1983 5,132.3 4.3
1984 5,505.2 7.3
1985 5,717.1 3.85
1986 5,912.4 3.4
1987 6,113.3 3.4
1988 6,368.4 4.2
1989 6,591.8 3.5
The Reagan Information Page:GDP
You can get the PDF @
BEA : Search the BEA Website
The administration never characterized it that way and included plenty of disclaimers saying the predictions had "significant margins of error" and a higher degree of uncertainty due to a recession that is "unusual both in its fundamental causes and its severity."
Mankiw points this out nicely.
Greg Mankiw's Blog: Team Obama on the Unit Root Hypothesis
Obviously, you only listen to economist who agree with your viewpoint.
Last edited by Antiderivative; 10-25-11 at 05:38 PM.