Here’s a BushToll nugget that pretty much speaks for itself. When George W. Bush took office on Jan. 20, 2001, the S&P 500 stock market index stood at $1,342.54. The day he left office, it was $805.22, a drop of 40 percent
The Dow Jones Industrial Average fared a bit better. It dropped only 25 percent. Sadly, the tech-heavy NASDAQ shed 48 percent of its value on President Bush’s watch.
As they say, a picture is worth 1,000 words:
Source Data: Yahoo Finance, Historical Quotes
|Dow Jones Industrial||$10,587.59||$7,949.09||-25%|
Just for contrast, here is a snapshot of the stock market from Jan. 20, 2009 to July 17, 2014 (*the date of the last update of this article):
Since President Obama took office, the Nasdaq has increased by 203 percent, the S&P 500 by 143 percent, and the Dow Industrial Average by 114 percent.
On an historical note, in Sept. of 2012, Bloomberg News reported on the fact that the stock market, corporate earnings, and GDP do better under Democratic presidents than Republican presidents:
If you are reading this and you vote for Republicans you are now irrevocably cursed with terminal cancer and there is nothing you can do about other than trash the Republican party to everyone you know and spread the truth. That is the only way to remove the curse.