A tale of two economies

In the Media

Coming This Summer: For $24.95, George W. Bush Will Share His ‘Strategies For Economic Growth’
That Bush believes the country needs his thoughts on how to create economic growth is laughable. After all, under his watch, “growth in investment, GDP, and employment all posted their worst performance of any post-war expansion,” while “overall monthly job growth was the worst of any cycle since at least February 1945, and household income growth was negative for the first cycle since tracking began in 1967.” As the Economic Policy Institute found, “between the end of the 2001 recession (2001Q4) and the peak of that expansion (2007Q4), the U.S. economy experienced the worst economic expansion of the post-war era.”
Think Progress | May 17, 2012
No Joke: George W. Bush Writing a Book on Economic Growth
The Center for American Progress’s Pat Garofalo caught this little tidbit and nicely summarized why the idea of Bush writing a book on economic growth is ludicrous.
After all, under his watch, “growth in investment, GDP, and employment all posted their worst performance of any post-war expansion,” while “overall monthly job growth was the worst of any cycle since at least February 1945, and household income growth was negative for the first cycle since tracking began in 1967.” As the Economic Policy Institute found, “between the end of the 2001 recession (2001Q4) and the peak of that expansion (2007Q4), the U.S. economy experienced the worst economic expansion of the post-war era.”
And there was the matter of the Great Recession.
US News and World Report | May 17, 2012
EPIphenomena
The New York Times | May 2, 2012
This Week in Small Business: Where Is the Recovery?
Josh Bivens says that the United Kingdom’s double-dip recession is proof austerity doesn’t work.
The New York Times | May 1, 2012