China is a leech in more ways than one. By way of Wal-Mart, it has destroyed decent wages and productive job creation in the U.S. See the CIA'S own list: China is No 1 with the world's LARGEST POSITIVE Current Account Balance; the U.S. (thanks to Wal-Mart) is DEAD LAST with the World's largest NEGATIVE Current Account Balance. (formerly called the Balance of Trade Deficit
We don't have far to look for culprits. They are not hiding behind bushes. They ARE the 'Bushes". Let's take a look at the history before it gets re-written:
- Any Democratic President has presided over greater economic growth and job creation than any Republican President since World War II.
- When Bush Jr took office, job creation was worst under a Republican, Bush Sr, at 0.6% per year and best under a Democrat, Johnson, at 3.8% per year.
- Economic growth under President Carter was far greater than under Reagan or Bush Sr. In fact, economic growth in general was greater under Johnson, Kennedy, Carter, and Clinton than under Reagan or Bush. Democrats always outperform a failed party: the GOP!
- The job creation rate under Clinton was 2.4% significantly higher than Ronald Reagan's 2.1% per year.
- The "top performing Presidents" by this standard, in order from best down, were Johnson, Carter, Clinton, and Kennedy. The "worst" (in descending order) were Nixon, Reagan, Bush.
- Half of jobs created under Reagan were in the public sector --some 2 million jobs added to the Federal Bureaucracy. Hadn't he promised to reduce that bureaucracy?
- Reagan, though promising to reduce government and spending, tripled the national debt and left huge deficits to his successor. Bush Jr's record will be even worse.
- By contrast, most of the jobs created on Clinton's watch were in the private sector.