Posted on | October 8, 2012 | 7 Comments
Here’s a BushToll nugget that pretty much speaks for itself. When George W. Bush took office on Jan. 20, 2001, the S&P 500 stock market index stood at $1,342.54. The day he left office, it was $805.22, a drop of 40 percent
The Dow Jones Industrial Average fared a bit better. It dropped only 25 percent. Sadly, the tech-heavy NASDAQ shed 48 percent of its value on President Bush’s watch.
As they say, a picture is worth 1,000 words:
Source Data: Yahoo Finance, Historical Quotes
|Dow Jones Industrial||$10,587.59||$7,949.09||-25%|
Just for contrast, here is a snapshot of the stock market from Jan. 20, 2009 to present (Dec. 23, 2013):
Since President Obama took office, the Nasdaq has increased by 188 percent, the S&P 500 by 127 percent, and the Dow Industrial Average by 105 percent.
On an historical note, in Sept. of 2012, Bloomberg News reported on the fact that the stock market, corporate earnings, and GDP do better under Democratic presidents than Republican presidents:
UPDATED 12/23/2013 to refresh the stock market performance chart.