Now would be a good time to take stock of the state of the economy. According to exit polls, some 48% percent of American voters believed that the economy under George Bush was a failure.
In six years, the George Bush economic policy has lowered unemployment to 4.4%, lower than the average of any unemployment rate in the past 20 years, including that of the Bill Clinton years. Five years ago the deficit stood at 4 trillion dollars. Bush promised to cut it in half by 2008. By 2006, this year, the deficit had been cut in half – two years earlier than projected. The deficit is 1.1% of the Gross National Product – lower than that of any President including Bill Clinton.
Someone, obviously not a George Bush fan, said that this economy under Bush and company was a house of cards and ready to collapse at any minute. I’m guessing that would be like the Bill Clinton economy which was built under the dot.com madness in which start-up company stocks were selling for $300 a share for companies that had yet to earn a dollar.