A tale of two presidencies (Krugman blog)

From Krugman 1/12/09 (nyt.com)




How did Bush do that?

I know, I know — “Presidents don’t have much effect on the economy,” etc.. But that’s not what the usual suspects were saying just a few months ago.

And in any case, there’s a mystery waiting to be solved: why were the last 8 years so bad? Even the good times weren’t all that good: by my quick count there were only 10 months under Bush in which the economy added as many jobs as it did in an average month under Clinton. How did Bush manage that?

Colin Powell endorses Obama

Still think economy is better off under Bush?

Then and Now:

Jan, 2001 / NOW (as of 1/12/08)

Dow
GW Bush: (1/19/01): 10,578 / (1/19/08): 12,606 (+2.7% /yr)
Clinton: (1/19/93): 3,257 / (1/12/01): 10,578 (+15.5%/yr)

Euro= $0.94 /=$ 1.48 (dollar has de-valued 57% )

Oil (light crude, per barrel) $26 / $93 (up 258%)

Unemployment 3.8% / 5.0% (Jan 01 to Dec 07)

Net Govt Saving (formerly current surplus or deficit):
surplus +$138b (3Q00)/ deficit -$237b (3Q07) (source: www.bea.gov)

Trade deficit, per month
$33.5 billion / $63 billion

National Debt

$5.73 Trillion / $9.2 Trillion

National Debt per US citizen:

$20,000/$30,206

Average New Jobs Per Month

+236,000 (Clinton) / 129,000 (Bush II)

US Troops in Iraq

Zero / 158,000

US Deaths in Iraq

Zero / 3,921 (as of 1/19/08)

Congratulations, Al

The world knows now that the real elected president of the US won the Nobel Peace Prize today while the Supreme Court appointed president has long been deserving the nobel war prize.

Congratulations Al Gore.