The Bush Economic Record: What a Difference Three Years Makes

[hang a left]

The Bush Economic Record: What a Difference Three Years Makes


Jobs
2,931,000
Number of jobs lost in the private sector since Bush took office.1

135,000
Average number of jobs created monthly under every President since Truman.2

-79,189
Average number of jobs created monthly under Bush.1

2,447,000
Number of people who have become unemployed since Bush took office.1

37 percent
Increase in the unemployment rate since Bush took office.1

4.1 percent
Unemployment rate when Bush took office in January 2001.1

5.6 percent
Unemployment rate in March 2004.1

8,170,000
Total number of unemployed Americans.1

675,000
Number of Americans experiencing long-term unemployment (27 weeks or more) when Bush took office in January 2001.1

1,871,000
Number of Americans suffering long-term unemployment in March 2004.1

177 percent
Increase in long-term unemployment under Bush.1

11.8 percent
Percentage of consumers who believe jobs are plentiful.3

760,000
Number of workers who have lost their unemployment insurance since December 2002.4



Ballooning Deficits
$5.6 trillion
Baseline surplus for the 10-year period for FY 2002-2011, as projected by the Congressional Budget Office when Bush took office in January 2001.5

$5.2 trillion
Budget deficit over next 10 years if Bush's 2005 budget proposal is enacted.6

$2.4 trillion
Amount Bush's budget will raid from the Social Security and Medicare trust funds over the next 10 years.6

$478 billion
Budget deficit for 2004 as predicted by CBO, if Bush' s proposals are enacted.6

$188 billion
Amount Bush's budget deficit for 2004 exceeds the highest budget deficit in history, which was posted in 1992 by Bush's father.6



Bush's 2003 "Jobs and Growth" Plan
$2.2 trillion
Ten-year cost of Bush's proposed tax cuts including additional costs for interest on the national debt.7

32.4 percent
Percent of tax cut for the top 1 percent of wage earners under the Bush "growth" plan.8

8.5 percent
Percent of tax cuts for the bottom 60 percent of wage earners under the Bush "growth" plan.8

64 million
Number of taxpayers (48 percent) who receive $100 or less under the Bush "growth" plan.9

$30,127
Average tax cut for the top 1 percent of taxpayers under the Bush "growth" plan.9

$289
Average tax cut for the middle 20 percent of taxpayers under the Bush "growth" plan.9

$4-5 billion
Amount Bush tax proposal would cost states.10

1 million
Number of taxpayers the Alternative Minimum Tax affected in 1999.11

36 million
Number of taxpayers the Alternative Minimum Tax will affect in 2010 because of Bush's tax cuts and his failure to address the AMT.11



Lower Income, Rising Costs
1.1 percent
Decrease in real median household income in 2002.12

10 percent
Increase in bankruptcies since Bush took office.13

1,625,213
Number of consumers who filed for bankruptcy in 2003.13

24 percent
Drop in consumer confidence since Bush took office.14

50 percent
Increase in out-of-pocket health care costs for workers since Bush took office.15

14 percent
Increase in the cost of job-based health insurance in 2003; highest rate in 13 years.15

8.7 percent
Increase in the cost of the 10 most-used prescription drugs in 2003.16

61 percent
Percent of employers who cited rising drug costs as a major cause of premium increases in 2003.15

11.5 percent
Increase in gas prices since 2000.17



49
Number of states that increased tuition at their public colleges and universities in 2003. State budget cuts fueled by the Bush recession have forced colleges to hike tuitions and fees-threatening access to higher education for low-income students.18

35 percent
Increase in tuition and fees at four-year public institutions since Bush took office, adjusted for inflation.19




http://democrats.org/economy/bushrecord.html