It's the economy, stupid

I've posted about jobs and the economy here before. A Texas Native brought up some more.

"On many of the key variables that voters care about, the economy looks uncannily like it did in the summer of 1996, a year when the incumbent was reelected." -Michael Mandel, "The Economy: Advantage Bush?," BusinessWeek, Sept. 6. 2004)

Look at these statistics comparing August 2004, as President Bush seeks re-election, to August 1996, when Bill Clinton's advisors campaigned for re-election on a strong economy:

• Percent of Americans without health insurance: Bush (15.6%), Clinton (15.6%)
• Debt as percentage of economy: Bush (37.5%), Clinton (48.5%)
• Number of workers not in the labor force but who want a job now: Bush (5.1 million), Clinton( 5.7 million)
• Average GDP over most recent 4 quarters: Bush (4.7%), Clinton (4.0%)
• Home ownership rate in latest quarter: Bush (69.2%), Clinton (65.1%)
• Inflation-adjusted average hourly earnings growth during first term: Bush (2.5%), Clinton (0.4%)
• Inflation-adjusted income growth for average American: Bush ($1,444), Clinton ($1,256)
• Average monthly inflation during first term: Bush (2.3%), Clinton (2.8%)
• Unemployment rate for Hispanics during first term: Bush (7.2%), Clinton (9.7%)
• Unemployment rate for Blacks during first term: Bush (9.9%), Clinton (11.3%)
• Percent of high school graduates who enroll in college: Bush (64%), Clinton (62%)

Sources: Bureau of Labor Statistics, Department of Housing and Urban Development, College Board



UPDATE: From Drudge: Forbes List Has Most Billionaires Ever. If the economy is so poor, why are so many people moving from the middle class to the upper class? And why are so many in the upper class moving to extreme wealth?