Two recessions occurred on George W. Bush’s watch, the current one (that began in December 2007) being of catastrophic proportions. Here are the facts…
When it comes to measuring and dating U.S. business cycles, the National Bureau of Economic Research (NBER) is the gold standard. Founded in 1920 and headquartered in Cambridge, Mass., the private, nonprofit, nonpartisan research organization tracks economic expansions and contractions (recessions), where contractions start at the peak of a business cycle and end at the trough.
Continue reading The Bush Recession(s) UPDATED
In the world of diplomacy, words matter (perhaps more than anything). That’s why when President Bush called for democracy in Palestine, he should have considered the consequences.
In the Jan. 25, 2006 Palestinian parliamentary elections, the terrorist group Hamas gained 76 of the Parliament’s 132 seats. The former ruling party Fatah finished with 43 seats. By comparison, in the previous election of 1996 Fatah held 55 seats and Hamas none.
These results have to be considered in light of the Bush Administration’s justification for the Iraq War. In toppling Saddam and installing the Iraq Provisional Authority, Bush claimed to be acting in the interests of democratizing the Middle East. The call for elections in Iraq became a political mantra, even as Iraq remained under the U.S. occupation.
Continue reading Middle East Bush Failure: Hamas
In the Middle East, the Bush Administration experienced several foreign policy failures that can be viewed as direct consequences of its ill-conceived 2003 invasion of Iraq. One of the more prominent failures was the June 2005 election of hard-line Iranian President Mahmoud Ahmadinejad.
Continue reading Middle East Bush Failure: Ahmadinejad’s Iran
Over his eight years in office, George W. Bush presided over an 85.5 percent increase in the Gross Federal Debt.
When he was inaugurated on Jan. 20, 2001 the Gross Federal Debt was $5.728 trillion(1), or 57 percent of the $10.129 trillion(2) Gross Domestic Product (GDP).
On Jan. 20, 2009, the day of Bush’s departure, the Gross Federal Debt was estimated at $10.627 trillion(3), an 85.5 percent increase since his inauguration.
Continue reading Bush Grew Gross Federal Debt by 85.5%