The preliminary July jobs report looks very good with 255,000 new jobs after June with 292,000 new jobs. In the figure below, it is seen that most of the previous presidents have increased employ with the same slope. The slope in increasing employment in the Obama administration was the same as Clinton, Reagan, and Carter, but his presidency started from a lower level. The difference is in the base from which employment started to rise. Thus Clinton added the most jobs because he uniquely never had a recession!
The exceptions are George Bush (Bush-43),who had employment tail off near the end of his term as we headed into the financial Armageddon (Great Recession) and his father G. H. W. Bush (Bush 41) who never got traction in increasing jobs.
(click on figure to enlarge)
http://www.cnbc.com/2016/08/05/charts-whats-the-real-unemployment-rate.html
Showing posts with label Bush-41. Show all posts
Showing posts with label Bush-41. Show all posts
Friday, August 5, 2016
Friday, September 12, 2014
"GOOD OLD DAYS"
I sort of miss the "good old days" of Presidents Ford who ended U.S. occupation of Vietnam, Carter with only the American embassy hostages. Called by Democrats a "Warmonger," President Reagan stubbornly refused to go to war over three major Embassy attacks (twice in Beirut and one in Kuwait) plus the Marine barracks disaster, and at least when he went to war, he at least picked someone we could beat - Granada. President Bush (41), of course, did have Desert Storm (Iraq I) and his "invasion" of Panama to capture Noriega, but the things calmed down again with President Clinton with his drive by shooting in Iraq from American military airplanes. Clinton, who had several terrorist attacks, also is distinguished by winning the only war won without "boots on the ground" - Kosovo - won by air power alone. Those are about the years closest to peace I have seen in my 83 years since Japan invaded China in 1937.
This comparatively "sleepy" period from 1974 through the 1990s was preceded by WW-II of President Roosevelt, Korea of President Truman, and Vietnam of Presidents Kennedy,Johnson, and Nixon and succeeded by the Afghanistan and Iraq II wars of President Bush (43). Now we can add the Iraq III/Syria war of our "peace" President Obama.
This comparatively "sleepy" period from 1974 through the 1990s was preceded by WW-II of President Roosevelt, Korea of President Truman, and Vietnam of Presidents Kennedy,Johnson, and Nixon and succeeded by the Afghanistan and Iraq II wars of President Bush (43). Now we can add the Iraq III/Syria war of our "peace" President Obama.
Friday, September 21, 2012
FEDERAL GOVERNMENT EMPLOYMENT
It is true that Bush-41 and Clinton cut the Federal work force by around 1,160,000 (me amongst them) without disrupting the economy, but those were good times and jobs were relatively easy to get. That is not so true now, I believe.
The peak post WW-II year for Federal employees was 1968 6,639,000 (the Vietnam peak) after which Federal employment gradually fell. Since 1968 the peak was 1987 5,301,000 under Reagan. Bush-41 started his term in 1989 at 5,292,000 and finished in 1992 at 4,931,000. Clinton finished at 4,129,000 in 2002. (http://www.opm.gov/feddata/historicaltables/TotalGovernmentSince1962.asp)
The peak Federal government civilian work force (including those in the DoD) peaked at 3,067,000 in 1990 (beating the previous peak at 3,040,000 in 1969) and bottomed in 2002 (Clinton's last year) at 2,630,000. Civilian employees rose slightly under Bush-43 to 2,692,000 and rose slightly again under Obama to 2,776,000 in 2010 the last year for which I have records.
Friday, June 8, 2012
LOWERING TAX MYTH
There are those who think the myth that lowering taxes, especially on the wealthy, improves the economy. I have been fond of pointing out that lowering taxes is an inefficient way of improving the economy (http://stopcontinentaldrift.blogspot.com/2010/05/effectiveness-of-taxes.html).
A more recent analysis that comes to the same conclusion is by Fareed Zakaria
(http://www.washingtonpost.com/opinions/fareed-zakaria-romney-is-wrong-on-tax-cuts/2012/06/07/gJQAy1pHLV_story.html?wpisrc=nl_opinions_Fri).
OK, the drill is that when the wealthy get more money, they buy more non-productive things like Treasury bills, notes and bonds, and buying existing stock does nothing for the company the stock represents, only the IPO and bonds benefit the company. Also when the wealthy get more money they do things that might benefit the global economy (like buying chalets in Switzerland, Bombardier personal jets from Canada, and islands in the Bahamas). When the middle class gets more money they pay down debt.
It is quite clear that Bush-41 and Clinton raised taxes, and we had the best economy of my lifetime and the Federal government had four years of positive cash flow. Bush-43 got the biggest tax cut in history and the economy tanked, from which we still haven't fully recovered. Even job growth from 2002 - 2007 was the poorest since the Great Depression. And all the tax cuts that Obama has given (e.g. extension of the Bush-43 tax cuts, a third of the stimulus package, the payroll tax cut and its extension, the small business tax cut, etc.) may have kept us out of a deep depression but haven't pulled us out of the poor economy, though we may be slowly coming out of it.
Though all the evidence is to the contrary, the myth of the benefits of tax cuts continues.
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Sunday, May 6, 2012
LAND MINES IN THE WAY OF BECOMING A GREAT PRESIDENT
We have had a number of presidents since Roosevelt who might have been considered great except for one or more glaring mistakes.
Eisenhower I don't know if Eisenhower would have been remembered as a great president. He did stop the Korean War. He did get the interstate highway system through a recalcitrant congress. He balanced the budget for two terms (only President Clinton did more). Unappreciated is that he showed that sometimes the best action to take is no action. Unfortunately, he took out a duly elected prime minister (Mossaddegh) of Iran that started U.S.-Iran relations on a downward slope in which we even find ourselves mired today. A terrible decision over the demands of the prime minister that Iran get the same deal on oil as Egypt got, i.e. half the profits that resulted in the nationalization of the Iranian oil industry. It remains so today. Certainly our abandoning the Hungarians when we had fomented them to rebel against the Soviets was not a shining hour. He also took the initial steps toward what became the Viet Nam War; however, that could have been stopped by several succeeding presidents and maybe Eisenhower would have done it himself so I won't count that.
Kennedy The problem here is that we don't know what would have happened had President Kennedy not been assassinated; however, he was not able to accomplish anything big in his first 1,000 days, the time when Presidents have their most power. His most outstanding achievement is probably his commitment to putting a man on the moon and returning him safely to Earth. He had a very charismatic personality, with me included, and has had a great spin machine promoting him. There was a rush to name things after him such as the Kennedy Center for The Performing Arts. Other things had name changes to him such as Idlewild Airport to Kennedy International Airport and Cape Canaveral to Cape Kennedy (The name here has been changed back but the Kennedy Space Center remains.). The attraction of President Kennedy is more spiritual than substantial.
Johnson Lyndon Johnson is maybe the most tragic story. He surely would have been remembered as a great president if he hadn't plunged us into a ground war in Viet Nam, a war he came to believe we couldn't win. But he did plunge us into it so no matter what else he did, it doesn't count. These accomplishments were many: Medicare, Medicaid, Civil Rights Act of 1964, voting Rights Act, Immigration Act of 1965, Equal Employment Opportunity Act, certainly the nucleus for consideration as a great president. And of course, he kept our manned space program alive, no mean feat. These were not the only accomplishments . These and others may be seen at: http://en.wikipedia.org/wiki/Lyndon_B._Johnson.
Nixon Richard Nixon's visit of China has even resulted in an opera. And of course, the first manned landing on the moon happened on his watch. His space accomplishments were many including keeping Apollo alive through Apollo 17 after the Apollo 13 disaster, the Space shuttle, and the Apollo-Soyuz Test Project agreement with the Soviets. He created the Environmental Protection Agency and he signed the Clean Air Act. He considered that he had stopped the Viet Nam War with the withdrawal of U.S. ground troops by 1972 and Paris Peace Accords of 1973; however, fighting continued until 1975. I think that most people consider the Viet Nam War to be over during the Ford administration with the evacuation of our embassy personnel in April 30, 1975 with the fall of Saigon. Nixon had to resign the Presidency over the Watergate Break In to avoid being impeached which eliminates him from being considered a great president. Mark shields, the well known liberal commentator, has said that Nixon was the last liberal president although many of his proposals were to divert attention from the Viet Nam War.
Ford Gerald R. Ford may be most famous for being our only appointed President. He also added stability to our country after Nixon resigned as President. He did pardon President Nixon, a decision with which I agree. It allowed congress to get back to work on more important things. His most famous quote is probably, "My fellow Americans, our long national nightmare is over ..." in his inauguration speech. Ford was not president long enough to get into much trouble.
Carter Jimmy Carter is probably the most maligned president we have had since Herbert Hoover. He has even been called one of our worst presidents. While I did not like him as president, I don't understand his treatment. His accomplishment of getting a peace treaty between Egypt and Israel is major. He finally put an end to the Panama Canal treaty issue by returning the Panama Canal Zone to Panama. Though dire things were forecast, the Canal has operated smoothly for the 35 years since. Considering how difficult this was to attain (President Ford had to stop his effort to do this because of strong opposition within his party.), it is a significant achievement. He made Teddy Roosevelt look like a piker in Carter's locking up wilderness areas throughout the U.S. He created the Departments of Energy and Education. He started a comprehensive program on alternative energy that was unfortunately largely closed by his successor. He lowered the Federal budget deficit in three of his four years of presidency until his efforts to balance the budget were overtaken by a recession. Carter made a terrible strategic error early in his presidency by stopping all the water projects in the U.S. because he considered them pork. But water is a major issue in the WEST, and he lost any reelection right there. He was also hampered by the Iranian hostage crisis that wasn't resolved until minutes after Ronald Reagan took office. Because of his conservative nature, Carter was opposed by Teddy Kennedy for Democratic nomination for President. The hostage crisis probably allowed Carter to defeat Kennedy, but his inability to get the hostages released no doubt was a major factor in his unsuccessful bid for reelection. The conception that unemployment was still rising on election day no doubt also played a major role in Carter's defeat. But this is hardly the record of a worst president.
Reagan Ronald Reagan has become known as a champion of small government although he left his presidency with a Federal government larger than he found it, both in terms of the Federal Budget and number of Federal employees. He ran up shockingly large budget deficits and never came close to balancing the budget. I have extensive discussions of Ronald Reagan elsewhere on this blog.* In fact he is the only president to increase the number of Federal employees between Lyndon Johnson and Obama. His major achievement for Republicans may be a large tax cut for the wealthy; however, he later instituted 11 tax increases to recover about half the revenue lost in the tax cut. Reagan initiated work on the Start Treaty that was a major contribution to reduce the threat of nuclear warfare. He signed the Immigration Reform And Control Act that gave amnesty to millions of illegals in the country. He deregulated the Savings & Loan Industry with disastrous results. His doing nothing after the bombing of the U.S. Embassy in Lebanon and the pulling of Marines out of Lebanon after the marine barracks attack perhaps emboldened the terrorists to continue their attacks. Ultimately, Reagan's breaking of the Air Traffic controllers Union might be his greatest achievement in terms of the impact on labor. The Iran-Contra affair was maybe his biggest failure and might even had gotten him impeached. Like so many self-made men and women, he felt the poor were poor by choice. After all he had made it so they could too if they wished. Like Kennedy, Reagan's supporters enthusiastically did things to honor him such as renaming the Washington National Airport the Ronald Reagan Washington National Airport and the nuclear powered aircraft carrier USS Ronald Reagan even during his lifetime which is unusual. The list of things named for Ronald Reagan is extensive.** Like President Kennedy, the attraction of President Reagan is more spiritual than substantial as proposed by Reagan aid Richard Darman in his book "Who's In Control" in 1996.
* http://stopcontinentaldrift.blogspot.com/2011/02/ronald-reagan.html
http://stopcontinentaldrift.blogspot.com/2011/10/ronald-reagan-further-comments.html
** http://en.wikipedia.org/wiki/List_of_honors_named_for_Ronald_Reagan
Bush-41 (George H.W. Bush) In retrospect, George H.W. Bush had a pretty good record as president. Unfortunately he raised taxes after famously saying, "Read my lips. No new taxes." This action has caused him to be ignored by his party. He got through the Americans With Disabilities Act and started the ball rolling on NAFTA (North America Free Trade Agreement). After a mistake by his State Department that led to the first Iraq War (Desert Storm), the allies decisively won and freed Kuwait. Furthermore the U.S. used up existing munitions and other countries contributed to finance the war that cost the U.S. essentially nothing monetarily. Also he knew when to stop the war. He also conducted a war in Panama (Operation Just Cause) over illicit drugs that captured the dictator Noriega, a task that Reagan was unable to accomplish. Although Republicans give Reagan all the credit, the Berlin Wall fell in 1989 and the Soviet Union dissolved two years later, both while Bush was president. From what I read, getting there took the skills of Bush to complete the fall. Bush consummated the Start Treaty. Bush also started Operation Restore Hope in Somalia that unfortunately came to a disappointing ending in his successor's term. He cut the Federal labor force by several hundred thousand employees. He was never able to obtain his dream of a capital gains rate of 20%. When speaking in public, Bush tended to speak in a rather whiny voice that many found unattractive. Like Carter and Ford before him, Bush was plagued by the perception of rising unemployment running up to election day. I was surprised that in one on one interviews, his voice was quite normal and attractive. Bush was noted as a gentleman in his campaign for reelection that should be a model for others, but, as he pointed out, he lost.
Clinton A new era was introduced with the election of Democratic President of President Clinton in which the Republican Party went into a full court press to destroy his presidency in any way they could. Unfortunately, the President helped them along with sexual indiscretions in the Oval office that resulted in his being impeached but not convicted so that he remained President. Unfortunately, this did much to under mine his Presidency. During his first two years, employment increased an average of 250,000 new employees a month. He cut taxes on low income families and most small businesses while increasing taxes on the wealthiest taxpayers. Between the tax increases of Bush-41 and Clinton, the 1990s turned out to be a fantastic economic decade. He passed the Brady Bill, named for Reagan's press secretary who was shot and permanently impaired in the assassination attempt on President Reagan. In addition to instituting a 5-day waiting period in purchasing guns, assault rifles were banned while hunting rifles were exempt. He signed the Family and Medical Leave Act. Under Clinton's National Performance Review, more hundreds of thousands of Federal employees were terminated. He even decreased the number of employees on his staff. He started the Direct Student Loan Program that gives students low cost loans to go to college. He led the fight for the GATT Treaty (General Agreement On Tariffs and Trade) that lowered tariffs. He signed the Violence Against Women Act. He was the only President not to have a recession in his first term and, in fact, didn't have a recession in his second term either, permitting the longest economic expansion in U.S. history. He put 1,000 more police on the streets. He had pledged to reform welfare as a candidate and accomplished this with the welfare reform legislation of 1996, though he had to send the bill back to congress several times to round off some of the rougher edges. Ran a positive cash flow for four years, one without using the Social Security surplus. He had the first female Secretary of State, the first female Attorney General, and the first Asian American cabinet member. His biggest error was in signing a bill to eliminate the Glass-Steagal Act that restricted the investing opportunities of banks. And they became able to invest like investment banks.
Eisenhower I don't know if Eisenhower would have been remembered as a great president. He did stop the Korean War. He did get the interstate highway system through a recalcitrant congress. He balanced the budget for two terms (only President Clinton did more). Unappreciated is that he showed that sometimes the best action to take is no action. Unfortunately, he took out a duly elected prime minister (Mossaddegh) of Iran that started U.S.-Iran relations on a downward slope in which we even find ourselves mired today. A terrible decision over the demands of the prime minister that Iran get the same deal on oil as Egypt got, i.e. half the profits that resulted in the nationalization of the Iranian oil industry. It remains so today. Certainly our abandoning the Hungarians when we had fomented them to rebel against the Soviets was not a shining hour. He also took the initial steps toward what became the Viet Nam War; however, that could have been stopped by several succeeding presidents and maybe Eisenhower would have done it himself so I won't count that.
Kennedy The problem here is that we don't know what would have happened had President Kennedy not been assassinated; however, he was not able to accomplish anything big in his first 1,000 days, the time when Presidents have their most power. His most outstanding achievement is probably his commitment to putting a man on the moon and returning him safely to Earth. He had a very charismatic personality, with me included, and has had a great spin machine promoting him. There was a rush to name things after him such as the Kennedy Center for The Performing Arts. Other things had name changes to him such as Idlewild Airport to Kennedy International Airport and Cape Canaveral to Cape Kennedy (The name here has been changed back but the Kennedy Space Center remains.). The attraction of President Kennedy is more spiritual than substantial.
Johnson Lyndon Johnson is maybe the most tragic story. He surely would have been remembered as a great president if he hadn't plunged us into a ground war in Viet Nam, a war he came to believe we couldn't win. But he did plunge us into it so no matter what else he did, it doesn't count. These accomplishments were many: Medicare, Medicaid, Civil Rights Act of 1964, voting Rights Act, Immigration Act of 1965, Equal Employment Opportunity Act, certainly the nucleus for consideration as a great president. And of course, he kept our manned space program alive, no mean feat. These were not the only accomplishments . These and others may be seen at: http://en.wikipedia.org/wiki/Lyndon_B._Johnson.
Nixon Richard Nixon's visit of China has even resulted in an opera. And of course, the first manned landing on the moon happened on his watch. His space accomplishments were many including keeping Apollo alive through Apollo 17 after the Apollo 13 disaster, the Space shuttle, and the Apollo-Soyuz Test Project agreement with the Soviets. He created the Environmental Protection Agency and he signed the Clean Air Act. He considered that he had stopped the Viet Nam War with the withdrawal of U.S. ground troops by 1972 and Paris Peace Accords of 1973; however, fighting continued until 1975. I think that most people consider the Viet Nam War to be over during the Ford administration with the evacuation of our embassy personnel in April 30, 1975 with the fall of Saigon. Nixon had to resign the Presidency over the Watergate Break In to avoid being impeached which eliminates him from being considered a great president. Mark shields, the well known liberal commentator, has said that Nixon was the last liberal president although many of his proposals were to divert attention from the Viet Nam War.
Ford Gerald R. Ford may be most famous for being our only appointed President. He also added stability to our country after Nixon resigned as President. He did pardon President Nixon, a decision with which I agree. It allowed congress to get back to work on more important things. His most famous quote is probably, "My fellow Americans, our long national nightmare is over ..." in his inauguration speech. Ford was not president long enough to get into much trouble.
Carter Jimmy Carter is probably the most maligned president we have had since Herbert Hoover. He has even been called one of our worst presidents. While I did not like him as president, I don't understand his treatment. His accomplishment of getting a peace treaty between Egypt and Israel is major. He finally put an end to the Panama Canal treaty issue by returning the Panama Canal Zone to Panama. Though dire things were forecast, the Canal has operated smoothly for the 35 years since. Considering how difficult this was to attain (President Ford had to stop his effort to do this because of strong opposition within his party.), it is a significant achievement. He made Teddy Roosevelt look like a piker in Carter's locking up wilderness areas throughout the U.S. He created the Departments of Energy and Education. He started a comprehensive program on alternative energy that was unfortunately largely closed by his successor. He lowered the Federal budget deficit in three of his four years of presidency until his efforts to balance the budget were overtaken by a recession. Carter made a terrible strategic error early in his presidency by stopping all the water projects in the U.S. because he considered them pork. But water is a major issue in the WEST, and he lost any reelection right there. He was also hampered by the Iranian hostage crisis that wasn't resolved until minutes after Ronald Reagan took office. Because of his conservative nature, Carter was opposed by Teddy Kennedy for Democratic nomination for President. The hostage crisis probably allowed Carter to defeat Kennedy, but his inability to get the hostages released no doubt was a major factor in his unsuccessful bid for reelection. The conception that unemployment was still rising on election day no doubt also played a major role in Carter's defeat. But this is hardly the record of a worst president.
Reagan Ronald Reagan has become known as a champion of small government although he left his presidency with a Federal government larger than he found it, both in terms of the Federal Budget and number of Federal employees. He ran up shockingly large budget deficits and never came close to balancing the budget. I have extensive discussions of Ronald Reagan elsewhere on this blog.* In fact he is the only president to increase the number of Federal employees between Lyndon Johnson and Obama. His major achievement for Republicans may be a large tax cut for the wealthy; however, he later instituted 11 tax increases to recover about half the revenue lost in the tax cut. Reagan initiated work on the Start Treaty that was a major contribution to reduce the threat of nuclear warfare. He signed the Immigration Reform And Control Act that gave amnesty to millions of illegals in the country. He deregulated the Savings & Loan Industry with disastrous results. His doing nothing after the bombing of the U.S. Embassy in Lebanon and the pulling of Marines out of Lebanon after the marine barracks attack perhaps emboldened the terrorists to continue their attacks. Ultimately, Reagan's breaking of the Air Traffic controllers Union might be his greatest achievement in terms of the impact on labor. The Iran-Contra affair was maybe his biggest failure and might even had gotten him impeached. Like so many self-made men and women, he felt the poor were poor by choice. After all he had made it so they could too if they wished. Like Kennedy, Reagan's supporters enthusiastically did things to honor him such as renaming the Washington National Airport the Ronald Reagan Washington National Airport and the nuclear powered aircraft carrier USS Ronald Reagan even during his lifetime which is unusual. The list of things named for Ronald Reagan is extensive.** Like President Kennedy, the attraction of President Reagan is more spiritual than substantial as proposed by Reagan aid Richard Darman in his book "Who's In Control" in 1996.
* http://stopcontinentaldrift.blogspot.com/2011/02/ronald-reagan.html
http://stopcontinentaldrift.blogspot.com/2011/10/ronald-reagan-further-comments.html
** http://en.wikipedia.org/wiki/List_of_honors_named_for_Ronald_Reagan
Bush-41 (George H.W. Bush) In retrospect, George H.W. Bush had a pretty good record as president. Unfortunately he raised taxes after famously saying, "Read my lips. No new taxes." This action has caused him to be ignored by his party. He got through the Americans With Disabilities Act and started the ball rolling on NAFTA (North America Free Trade Agreement). After a mistake by his State Department that led to the first Iraq War (Desert Storm), the allies decisively won and freed Kuwait. Furthermore the U.S. used up existing munitions and other countries contributed to finance the war that cost the U.S. essentially nothing monetarily. Also he knew when to stop the war. He also conducted a war in Panama (Operation Just Cause) over illicit drugs that captured the dictator Noriega, a task that Reagan was unable to accomplish. Although Republicans give Reagan all the credit, the Berlin Wall fell in 1989 and the Soviet Union dissolved two years later, both while Bush was president. From what I read, getting there took the skills of Bush to complete the fall. Bush consummated the Start Treaty. Bush also started Operation Restore Hope in Somalia that unfortunately came to a disappointing ending in his successor's term. He cut the Federal labor force by several hundred thousand employees. He was never able to obtain his dream of a capital gains rate of 20%. When speaking in public, Bush tended to speak in a rather whiny voice that many found unattractive. Like Carter and Ford before him, Bush was plagued by the perception of rising unemployment running up to election day. I was surprised that in one on one interviews, his voice was quite normal and attractive. Bush was noted as a gentleman in his campaign for reelection that should be a model for others, but, as he pointed out, he lost.
Clinton A new era was introduced with the election of Democratic President of President Clinton in which the Republican Party went into a full court press to destroy his presidency in any way they could. Unfortunately, the President helped them along with sexual indiscretions in the Oval office that resulted in his being impeached but not convicted so that he remained President. Unfortunately, this did much to under mine his Presidency. During his first two years, employment increased an average of 250,000 new employees a month. He cut taxes on low income families and most small businesses while increasing taxes on the wealthiest taxpayers. Between the tax increases of Bush-41 and Clinton, the 1990s turned out to be a fantastic economic decade. He passed the Brady Bill, named for Reagan's press secretary who was shot and permanently impaired in the assassination attempt on President Reagan. In addition to instituting a 5-day waiting period in purchasing guns, assault rifles were banned while hunting rifles were exempt. He signed the Family and Medical Leave Act. Under Clinton's National Performance Review, more hundreds of thousands of Federal employees were terminated. He even decreased the number of employees on his staff. He started the Direct Student Loan Program that gives students low cost loans to go to college. He led the fight for the GATT Treaty (General Agreement On Tariffs and Trade) that lowered tariffs. He signed the Violence Against Women Act. He was the only President not to have a recession in his first term and, in fact, didn't have a recession in his second term either, permitting the longest economic expansion in U.S. history. He put 1,000 more police on the streets. He had pledged to reform welfare as a candidate and accomplished this with the welfare reform legislation of 1996, though he had to send the bill back to congress several times to round off some of the rougher edges. Ran a positive cash flow for four years, one without using the Social Security surplus. He had the first female Secretary of State, the first female Attorney General, and the first Asian American cabinet member. His biggest error was in signing a bill to eliminate the Glass-Steagal Act that restricted the investing opportunities of banks. And they became able to invest like investment banks.
Bush-43(George W. Bush) Bush-43 was elected on a disputed basis that was decided by the Supreme Court where he had a larger electoral vote and his opponent had a larger popular vote. Nonetheless, he was able to push through massive tax cuts for the wealthy and more minor cuts for the rest. The so-called 9/11 attack occurred in his term and he sent American troops to Afghanistan on October 7, 2001 supported by allies and northern Afghanistan tribes. This war continues down to today and is America's longest war. Through an intensive propaganda campaign he also started an optional war in Iraq on March 10, 2003, based on incorrect information. This war finally came to an end on December 15, 2011. Both wars were waged with borrowed money. President Bush's most outstanding achievements undoubtedly were the formation of the Department of Homeland Security (as a result of 9/11), the controversial Patriot Act, No Child Left Behind and Medicare D (prescription drug benefits). The massive tax cuts plus the unpaid forign wars and drug benefits, plunged the country into major Federal deficits. Further deregulating banking and the burst of the housing bubble, plunged the nation into a de-leveraging economic crisis from which the nation has not yet recovered. As a result, there was a big turnover in government in the 2008 elections.
Obama It is too early to judge the Barack Obama Presidency; however, my post of August 28, 2010 still holds: http://stopcontinentaldrift.blogspot.com/2010/08/best-one-term-president-ever.html
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