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August 4, 2004

As anybody knows who has been able to read or hear in the past year, the Democrats generally claim Bush has destroyed the economy and caused the loss of some 3 million jobs. I've mentioned before that a President doesn't really have a huge impact on the economy. Their trite fact of 3 million lost jobs is also a bit of an exaggeration -- economists now put the real number at about 2.6m jobs lost. I've also questioned their claims since the latest downfall started during Clinton's reign. Here's a brief article with an accompanying chart (link on the left) that shows this.

Posted by charr at 1:10 PM
Reader Comments

i was just wondering, are you defending bush? im not saying its a bad thing but he does have say over, well, everything. so i was just wondering e-mail me please thank you

Posted by Amelia at February 15, 2005 2:21 PM

Yes I am defending him in this instance. In one line, my answer is free market capitalism. While he is president, the president has little control over lots of things,namely the economy. He really doesn't control how you or others spend their money. He doesn't control which companies lay people off, or when they hire them. He could force through illegal trade barriers and tariffs to inflate an industry (which has happened), but that would be, well, illegal. He doesn't control how much someone is willing to pay for a product here, or abroad, nor how much foreign bankers are willing to value the dollar (though there is some assistance the administration can provide here). In short, capitalism is good because it can't be controlled by one person.

Posted by Cameron at February 15, 2005 2:31 PM

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