A comparitive Study of Clinton's and George Bush's Economic Policies Essay

A comparitive Study of Clinton's and George Bush's Economic Policies - Essay Example Bush supporters argue that Clinton inherited a booming economy on the upswing from the previous Reagan/Bush presidencies then ran it into the ground for which George W. now takes the blame. Many Clinton backers disagree taking the position that the current Bush administration has instituted a faith-based economic policy; that Armageddon will happen soon so it doesn’t matter how the country’s economy is managed. To give total credit or blame to one person for every aspect of the nation’s economic condition is hardly a credible stance. However, this paper will compare the two presidents’ economic policies as they relate directly to the end result in similar categories as a means to compare their successes and failures on an even playing field. To that end, this discussion provides an extensive view of the economy over the previous 12 years spotlighting on percentage changes of several economic indicators rather than total number. The steady creation of employment opportunities is one of the most telling signs of a country’s economic condition. According to the Bureau of Labor Statistics, the number of jobs increased 2.38 percent per year under Clinton, but it has decreased 0.17 percent per year in the years Bush has held office (Atkinson & Hutto, 2004). The Bush administration claimed that the economy was on a downturn following the Clinton presidency then was further hindered by the attacks on the World Trade Center in 2001. Bush sold the idea of tax cuts to the public predicting that this step would help to stimulate the economy by creating 3.7 million jobs in 2003, but produced only 1.7 million, fewer than the number of births in the country that year (Council of Economic Advisors, 2003). By contrast, 22 million jobs were created during the eight years Clinton was in office. The tax cut concept was not based on sound, objective economic analysis, rather it was an ideology borrowed from the equally failed