{"id":1561,"date":"2004-10-02T12:45:05","date_gmt":"2004-10-02T16:45:05","guid":{"rendered":"http:\/\/blogs.law.harvard.edu\/nateptest\/2004\/10\/02\/bush-economy-sucks\/"},"modified":"2004-10-02T12:45:05","modified_gmt":"2004-10-02T16:45:05","slug":"bush-economy-sucks","status":"publish","type":"post","link":"https:\/\/archive.blogs.harvard.edu\/natep\/2004\/10\/02\/bush-economy-sucks\/","title":{"rendered":"Bush economy sucks"},"content":{"rendered":"<p><a name='a584'><\/a><\/p>\n<p>On the first day of the new economic quarter, Brad deLong of Berkeley&#8217;s<br \/>\neconomics department (and a very nice guy, I&#8217;m told by friends who&#8217;ve<br \/>\ntaken his grad classes) <a href=\"http:\/\/www.j-bradford-delong.net\/movable_type\/2004-2_archives\/000293.html\">does a clean-up of bad economic analysis put out on the web<\/a>, on <a href=\"http:\/\/www.poorandstupid.com\">one site in particular<\/a>.<\/p>\n<blockquote><p>&#8230;An 0.3% upward revision in the second quqrter&#8217;s growth rate will raise<br \/>\nthe 2004 annual GDP growth rate by 0.075%, and the 2003-2004 average<br \/>\ngrowth rate by 0.0375%. That&#8217;s not enough to cause anybody to change<br \/>\ntheir image of the strength of the economy under George W. Bush. And<br \/>\nthis idea of a &#8220;Bush boom&#8221;&#8230; Over his term so far, the economy has<br \/>\ngrown at an average rate of 2.5% per year. That&#8217;s a slower rate than<br \/>\neconomic growth during&#8230; Clinton II, Clinton I, Reagan II, Reagan I,<br \/>\nCarter (yes, really), Nixon I, Johnson, Kennedy-Johnson, Eisenhower I,<br \/>\nand Truman. As measured by the growth of real GDP, the economy has<br \/>\ngrown more slowly in only three presidential terms in the last 13: Bush<br \/>\n41, Nixon-Ford, and Eisenhower II. As measured by the growth of<br \/>\nemployment, we have to go all the way back to Herbert Hoover to find<br \/>\nsomething worse.\n<\/p><\/blockquote>\n<p>Why is no one baying for this man&#8217;s head like they did for Jimmy<br \/>\nCarter?&nbsp; I admit Kerry is no Ronald Reagan (although he did claim<br \/>\nReagan&#8217;s mantle in the debate), but this administration has been pretty<br \/>\nbad for the mass of Americans pocketbooks.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On the first day of the new economic quarter, Brad deLong of Berkeley&#8217;s economics department (and a very nice guy, I&#8217;m told by friends who&#8217;ve taken his grad classes) does a clean-up of bad economic analysis put out on the web, on one site in particular. &#8230;An 0.3% upward revision in the second quqrter&#8217;s growth [&hellip;]<\/p>\n","protected":false},"author":709,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[45],"tags":[],"class_list":["post-1561","post","type-post","status-publish","format-standard","hentry","category-ontheweb"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p5G3PH-pb","_links":{"self":[{"href":"https:\/\/archive.blogs.harvard.edu\/natep\/wp-json\/wp\/v2\/posts\/1561","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/archive.blogs.harvard.edu\/natep\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/archive.blogs.harvard.edu\/natep\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/archive.blogs.harvard.edu\/natep\/wp-json\/wp\/v2\/users\/709"}],"replies":[{"embeddable":true,"href":"https:\/\/archive.blogs.harvard.edu\/natep\/wp-json\/wp\/v2\/comments?post=1561"}],"version-history":[{"count":0,"href":"https:\/\/archive.blogs.harvard.edu\/natep\/wp-json\/wp\/v2\/posts\/1561\/revisions"}],"wp:attachment":[{"href":"https:\/\/archive.blogs.harvard.edu\/natep\/wp-json\/wp\/v2\/media?parent=1561"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/archive.blogs.harvard.edu\/natep\/wp-json\/wp\/v2\/categories?post=1561"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/archive.blogs.harvard.edu\/natep\/wp-json\/wp\/v2\/tags?post=1561"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}