Sunday, October 15, 2006

U.S. GDP Growth

Let's look at the real growth of GDP under Clinton and Bush. This is the best measure of the growth of the U.S. economy.

The actual figures are available at the U.S. Bureau of Economic Analysis. Here are the GDP figures:

End of 1992 - $6.48 trillion
End of 2000 - $9.95 trillion
2nd Quarter of 2006 (latest available) - $13.2 trillion.

So under Clinton, GDP grew by $3.47 trillion and under Bush in 6 years it has grown by $3.25 trillion.

However, the percentage growth shows that GDP growth was much faster under Clinton. The economy grew by 53.5 percent [(9.95-6.48)/6.48] under Clinton versus 32.7 percent [(13.2-9.95)/9.95] under Bush.

We will have to see what the final numbers are, but the rate of economic growth is slowing quite rapidly.

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