The NYT is making up stories about the economy again. It told readers that "for years, he got no credit for a long-running economic recovery, in part because of popular anger over Iraq."
What are they talking about. The economy was losing jobs from shortly after President Bush took office in January of 2001 until August of 2003. It then created jobs for just over four years and then began shedding jobs in January of 2008. How does this compares to an expansion that lasted for more than 8 years under Clinton? This period of job expansion was far weaker than the stretch of almost 8 years in the 80s also. In fact, it was a relatively short period of employment growth compared to other post-war expansions and it was also quite weak with the pace of job growth relatively modest over most of the period.
So Bush had a short and relatively weak period of job growth. What exactly was he supposed to get credit for?
I’m writing to you today with a sense of urgency that I haven’t felt since I began my journalism career. As executive editor of The American Prospect, I’ve witnessed firsthand how independent journalism serves as a crucial bulwark against the erosion of our democratic institutions. Today, that role is more vital than ever. Can you step up today and show your support?
The winds of authoritarianism are blowing stronger. We’re seeing alarming signs of a coordinated effort to silence critical voices and undermine the very foundations that support progressive causes. As Bob Kuttner presciently wrote in our August 2024 issue, a weaponized IRS could attack the very foundations of the progressive movement. We need readers to step up and help us dig in for the long haul.
We’re falling behind in our spring fundraising campaign, and with so much at stake we can’t afford to come up short. If you value fearless, independent journalism that holds the powerful accountable and defends democracy, now is the time to step up. The American Prospect depends on reader support to stay in the fight. Pitch in today and help us close the gap. Please consider making a donation today.
–David Dayen, Executive Editor
Copyright 2025 | The American Prospect, Inc. | All Rights Reserved
