Bush Legacy of Deficits and Debt
December 8th, 2008 by KarinaMajority Leader Hoyer’s office released a report today on the legacy of deficits and debt by President Bush and Republicans saying:
Over the last eight years, President Bush and Republicans have built a record of failed fiscal policies that are contributing to the devastating economic crisis facing our nation and will make the road to economic recovery a slow and difficult process. In addition, President Bush’s budgets have repeatedly cut funding for the programs that help Americans cope during an economic downturn while providing massive tax relief to big business and wealthy Americans.
The report shows key statistics contrasting the state of the economy when President Bush took office to now:
WHEN
BUSH TOOK OFFICE |
TODAY
– IN THE RED |
|
UNEMPLOYMENT |
5.7
million unemployed |
10.3
million unemployed |
HOUSEHOLD INCOME |
$50,566
|
$50,233
|
HEALTH INSURANCE |
38
million uninsured |
47
million uninsured |
POVERTY |
31.6
million |
37.3
million |
JOBS CREATED |
22.7
million over Clinton’s 8 years |
5
million over 8 years |
REAL GDP GROWTH |
3.6%
over Clinton’s 8 years |
2.2%
over 8 years |
NATIONAL DEBT |
$5.8
Trillion |
$10.6
Trillion |