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
|Dow Jones Industrial||$10,587.59||$7,949.09||-25%|
(UPDATED) Just for contrast, here is a snapshot of the stock market for Barack Obama’s complete two terms, from Jan. 20, 2009 to Jan. 19, 2017 (his last full day in office):
Under President Obama, the Nasdaq increased by 285 percent, the S&P 500 by 181 percent, and the Dow Industrial Average by 148 percent. For the math-impaired, your $50,000 investment would have grown to $135,000 in 8 years.
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 (“Republicans Vs. Democrats: Who Boosts Stocks?,” Bloomberg News, Sept. 5, 2012):
Visit the video page now only available on Archive.org here. Bloomberg is likely doing it’s best to scrub this one.
And here’s more in the exploding heads department: “The Stock Chart Republicans Don’t Want You to See,” Bloomberg News, Sept. 7, 2012:
Visit the video page on Bloomberg News (now available only on Archive.org) here.
Visit the original article from Bespoke Investing. This article has disappeared from Bespoke’s Web site, but it lives on at Archive.org.
UPDATED 12/23/2013 to refresh the stock market performance chart.
UPDATED 7/17/2014 to refresh the stock market performance chart.
UPDATED 3/18/2015 to refresh the stock market performance chart.
UPDATED 7/20/2015 to provide the link to the original Bespoke Investing Group article on the performance of the Dow Jones Industrial Average during Obama’s first term.
UPDATED 1/20/2017 to provide the final stock market performance under Barack Obama’s term in office.