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John Adams Blog

The blog of The Antient and Honourable John Adams Society, Minnesota's Conservative Debating Society www.johnadamssociety.org

Sunday, December 04, 2005

Economic Stats`

Drudge reports that Bush is going to come out swinging this week on the economy. He should. The economy has being doing great despite the stock market collapse, 9/11, and everything else.

Interestingly, Federal Receipts in 2005 are about 18% of GDP. Looking at Federal Receipts in the last 50 years, this is pretty much around the average. Simarly, federal spending in 2005 was 20% of GDP, which is high compared to the 1960s, but lower than the 1980s. Five years into Clinton's term (1997) federal receipts were about 19.5% and spending about 20%. Five years into Reagan's term, receipts were about 18% and spending was at 22.5%.

Federal receipts during Vietnam and Korea were also around 18-20% of GDP.

In the first 5 years of Bush's term, GDP has increased approximately 26%. GDP increased 28% under Clinton's first 5 years. If you just take the last four years for each President, Bush is actually doing slightly better.

Unemployment is about the same at 5% (Clinton's was slightly better).

Look at the stats yourself (at the Federal Reserve Bank of St. Louis).