Such Short Memories: The Worst President Since World War II? Uh, Guess Again!

Reblogged from

When George W. Bush was inaugurated president of the United States on January 20, 2001, the unemployment rate stood at 2.4 percent. By the time Dubya completed his second term in office on January 19, 2009, the unemployment rate at risen to 7 percent. When Dubya took office in 2001, he was left with a budget surplus of $127.3 billion. When he completed his second term, he left a budget deficit of $1.4 trillion.

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CBO Budget Forecast presented this Morning

This morning, Congressional Budget Office Director  Douglas W. Elmendorf presented the CBO’s budget forecast this morning on C-SPAN.  Their  new Budget and Economic Outlook  shows a small improvement in the deficit, but rising unemployment.  Their report projects a $1.1 trillion federal budget deficit for FY 2012, or a 7 percent drop from last year. However, it also projects unemployment to rise to 8.9 percent in 2012.

For a summary of the CBO Report and it’s associated resources: