During President Bush’s 8-year reign, the gross domestic product—one of the most popular metrics of economic growth—grew at the slowest pace for a period of that length since the Truman administration (1945-53), according to the Washington Post.
In addition, the article details that over that period, the number of U.S. jobs only grew about 2 percent.
This is the slowest growth over an 8-year period since the data started being collected 70 years ago.
It was also reported that American’s incomes grew more slowly than any presidency since the 1960s—well, that is, other than George H. W. Bush’s presidency.
Maybe it runs in the family.
This news comes as more and more Americans are turning to filing bankruptcy in an effort to get out of debt or stop foreclosure.
Tags: bankruptcy, economy, GDP
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