A Menagerie of Outspoken Opinions on Science, World Politics, and Geek Culture

Friday, July 08, 2005

Cheering economic news

Jayson @ PoliPundit breaks down the worst economy since Herbert Hoover vis-a-vis Clinton's boom years. (hat tip Ace)

This strikes me as particularly interesting given the continuing negative spin in economic headlines. Today from Reuters: U.S. job growth tepid, jobless rate drops

The amazing thing about these numbers is that while Clinton had a technology bubble driving his numbers, the Bush administration has achieved parity under extreme conditions.

Of course, in the end the policies of a particular administration don't fully explain the workings of the economy. Credit evil corporate America with the willingness to rein in the extravagant costs of the late 90's. One can't help but wonder where the economy might be today if more of the largesse from the 90's had been spent on R&D and other CAPEX instead of so much fluff.

For that matter, imagine a world where the government could exercise such spending restraint.

Even so, John F Kennedy's economic wisdom continues to prove greater than that of his nominal (in every sense of the word) party. CBO: Budget deficit shrinks