The DJIA is at record highs these days, but except for my friend the recently retired teacher, I don’t know anyone who’s cashing in.
All of Bush’s talk about how great the economy is doesn’t translate to real security or financial stability, not in these parts anyway.
Boston Herald business columnist Brett Arends sheds some light on this in his article “Bush economy nothing to broadcast”.
The article compares Bush II’s record with that of Bush I, Reagan, Carter and Clinton using 3 indicators: the change in the DJIA since he took office, annualized increases in gas prices and the job creation rate.
To give an example, non-farm payrolls have added an average of 46,000 jobs a month since January 2001, the start of Bush II.
That’s 17 percent LESS than the average monthly job growth under Bush I, who “presided over a recession so bad it cost him his job.”
No wonder the Republicans want the public to obsess over terrorists lurking under the bed and gay couples cavorting on it.