from SLATE:
>The [Washington POST] analyzes key economic data and concludes that President
>Bush's tenure will be remembered as the worst eight years for the American
>economy in decades. Overall, jobs increased by about 2 percent, the worst
>growth since the data began to be collected seven decades ago. The growth of
>the country's gross domestic product was so moribund that only Truman's
>administration had it worse. Bush officials insist the economy expanded
>steadily from 2003 to 2007, but economists are increasingly saying that the
>growth was pretty much driven by "interrelated booms" that "have proved
>unsustainable." While it might be tempting to blame the ongoing financial
>crisis for the grim statistics, the truth is that even without last year's
>recession, the U.S. economy was particularly weak. "[W]e really went nowhere
>for almost ten years, after you extract the boost provided by the housing and
>mortgage boom," an economist said. "It's almost a lost economic decade."<
--
Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own
way and let people talk.) -- Karl, paraphrasing Dante.
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