My, what a difference a few years can make….as well as what capital letter comes after a President’s name!
Or does it? There are always political points to be made by accusing the "other" party of economic malfeasance. In this case, however, it has been a constant barrage by the Dems (and the MSM) stating that "oh, woe is us! We’re in a Depression! We’re all gonna end up on the streets!"
Look at the below table – a simple review would tell one that they are both fairly equal (althought I’d rather have the present rather than 1996’s. Plain and simple.
This is one real good reason why I no longer trust the Main Stream Press – they have abrogated their main function of presenting NEWS. Instead, they present IDEOLOGY as objectivity. And before someone starts to correct that, one only has to listen to the main network news broadcasts and many of the cable news shows.
Yes, I know – the credit crunch does have the market’s knickers all in a knot. But in the Labor market, the stats still seem to be better now under Bush rather than Clinton.
Comparing Labor Market Data in 1996 and 2008
Democrats on the Economy in 1996:
“Our economy is the healthiest it has been in three decades.” (President Bill Clinton, State of the Union Address, January 23, 1996)
Democrats on the Economy in 2008:
“The bottom line is that this administration is the owner of the worst jobs record since Herbert Hoover." (Senator Charles Schumer, Press Release, March 7, 2008)
|Key Labor Market Statistics in 1996 and 2008|
|March 1996||March 2008|
|1. U.S. Unemployment Rate||5.5%||5.1%|
|2. Number of Long-Term Unemployed||1.33 million||1.28 million|
|3. Average Weeks Unemployed||17.3 weeks||16.2 weeks|
|4. Median Weeks Unemployed||8.3 weeks||8.1 weeks|
|5. Not in Labor Force because discouraged over job prospects||451,000||401,000|
|6. Democrats calling for Extended Unemployment Benefits?||No||Yes|
|7. President’s Party Affiliation||Democrat||Republican|