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9.17.2009

In terms of income growth and poverty reduction, Bush performed worse than any two-term president of the modern era

According to David Frum.
David Frum was a speechwriter for President George W. Bush and is a resident fellow at the conservative American Enterprise Institute. More about him at Wikipedia.

From Marketplace where you can also hear his commentary:

In terms of income growth and poverty reduction, Bush performed worse than any two-term president of the modern era. Even in the best year of his presidency, 2007, the typical American household still earned less after inflation than in the year 2000. The next year, 2008, American households suffered the worst income drop since record-keeping began six decades ago.

In my Republican party, there is worryingly little discussion of this damning trend. We do criticize ourselves for over-spending in office. But economic management gets much less, almost zero, internal discussion.

And:
The more plausible culprit is the surge in health care costs. Over the years from 2000 to 2007, the price employers paid for labor rose handsomely: on average, 25 percent. Yet for the typical worker, none of that extra cost translated into higher wages.
In other words, we've wasted far too much time in fixing health care in America. It needs fixed now and it's dangerously foolish to waste time making up crap about why we shouldn't fix it, vs. having intelligent discussions on how to fix it.

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