Kerry Press Release: Bush Comes up Short in Comparing Economy to 1996

[Skinner]

For Immediate Release
September 15, 2004

THERE’S NO COMPARISON TO THE ECONOMY IN 1996

BUSH COMES UP SHORT IN EFFORTS TO LINK HIS 2004 ECONOMY TO 1996 ECONOMY

The Bush campaign has been arguing that the economy today is just as good as it was in 1996. This shows just how out of touch they are when it comes to the economy:

11 MILLION JOBS GAP

Total Jobs Created
Change Through August 1996: +10.4 million
Change Through August 2004: -913,000

Private Sector Jobs Created
Change Through August 1996: +9.8 million
Change Through August 2004: -1.6 million

Manufacturing Jobs Created
Change Through August 1996: +465,000
Change Through August 2004: -2.7 million

INCOME GROWTH VS. DECLINING INCOME

Median Household Income (inflation-adjusted change)
1992 - 1995: +$1,481
2000 - 2003: -$1,535

UNEMPLOYMENT RATE DOWN VS. UNEMPLOYMENT UP

Unemployment
Change through July 1996: Down 30% (From 7.3% to 5.1%)
Change through July 2004: Up 29% (From 4.2% to 5.4%)

Long-Term Unemployment
Change through July 1996: Down 701,000
Change through July 2004: Up 1 million

People Working Part Time Who Want Full-Time Work
Change through July 1996: Down 1.8 million
Change through July 2004: Up 1.2 million

RECORD DEFICIT REDUCTION VS RECORD DEFICIT EXPLOSION

Change in the Deficit
1992 – 1996: Improvement of $183 Billion
2000 – 2004: Deterioration of $658 Billion

STRONGER GDP GROWTH UNDER CLINTON THAN UNDER BUSH

Real GDP Growth (annual rate)
Change Through 1996-Q2: +3.4%
Change Through 2004-Q2: +2.7%

Private GDP Growth (annual rate)
Change Through 1996-Q2: +4.1%
Change Through 2004-Q2: +2.6%

GROWTH IN BUSINESS INVESTMENT VS DECLINING INVESTMENT

Business fixed investment (annual rate)
Change Through 1996-Q2: +9.6%
Change Through 2004-Q2: -0.7%

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[RobertSeattle]

1. Out F'ing Standing

I've been getting soooo tired of this silly "1996" RNC talking point for the past two F'ing weeks!

[Kahuna]

3. Me too. In 96 Clinton's numbers trended DOWN from the previous..

administration's. Bush's are trending up. The only question is, why did it take so long for team Kerry to figure it out? This is not what you can call a "rapid response." Sheesh.

[cthrumatrix]

2. they have trouble with facts...they have 0 successes

[A_Possum]

4. "The Excuse President"

I love it. I love it.