Man Without Qualities

Wednesday, August 04, 2004

Basic Facts, Clearly Stated

George Schultz hits a bull's eye:

When you look at the record, a quick summary is this: President Clinton inherited prosperity; President Clinton bequeathed recession. The 2001 recession was short and shallow, with employment - always a lagging indicator - the last part of the economy to rebound. The employment picture has been a little puzzling since the two main surveys - one asks existing establishments how many people are on their payrolls, and the other asks people in a large sample of households whether they have jobs - show slightly different patterns. In any case, by now a third piece of the record appears clear: the recession President Clinton left behind has turned into prosperity under George
W. Bush.

Think of how many inches of column space Herr Doktorprofessor Paul Von Krugman, Maureen ("Big Mo") Dowd and every other liberal columnist working for the Times have written in attempts implicitly or explicitly to obscure and evade these basic facts.

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