DiabloWags said:
B.D.Bear said:
dajo9 said:
chazzed said:
I don't blame them one bit. The direction of this country is scary. You can always count on Republicans to ruin the economy.
A Democratic President has NEVER inherited a good economy from a Republican
That's a misleading oversimplification. Clinton inherited an economy that was already growing following the 1990-91 recession. Carter inherited an economy growing more than 5% annually, and Biden inherited an economy recovering from a global pandemic. If you're going to give Democrats credit for economic recoveries, you also have to acknowledge when those recoveries began under Republicans.
That's FALSE.
In 1992, 10 million Americans were unemployed, the country faced record deficits, and poverty and welfare rolls were growing. Jobs were being created at the slowest rate since the Great Depression.
In fact, the unemployment rate peaked in June of 1992 at 7.8%
You're confusing a weak labor market with an economy that wasn't recovering. Yes, unemployment peaked at 7.8% in June 1992. But it had already fallen to 7.3% when Clinton took office. More importantly, the National Bureau of Economic Research officially dates the end of the recession to March 1991, nearly two years before Clinton's inauguration. Real GDP grew approximately 3.3% in 1992, and the economy was adding jobs before Clinton entered the White House.
Nobody is arguing that Bush left behind a perfect economy. Unemployment and poverty were serious problems. But Clinton inherited an economy already in expansion, not one still in recession. Those are two different claims, and the economic data establishes that distinction.