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 had 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. The US national debt was $5.7 trillion on January 19, 2001. After eight years of Dubya, the debt was $10.6 trillion.
The US was at peace on January 20, 2001. After eight years of Dubya, the US was involved in two overseas wars in Afghanistan and Iraq that had cost US taxpayers nearly $1 trillion. The bigger of the two -- Iraq -- was launched based on mistaken, manipulated, or concocted information (or some combination of the three), and had resulted in the deaths of approximately 4,200 US military personnel and somewhere between 100,000 to 500,000 Iraqi civilians.
America's image abroad took a serious plunge under Dubya, primarily because of Iraq. International surveys of tens of thousands of people taken by the Pew Research Center's Pew Global Attitudes Project during those years consistently found extremely low opinions of Dubya and the US due to the war in Iraq, particularly among Muslims. The revelations of atrocities committed by US soldiers at Abu Ghraib prison and abuses by contracted security firms like Blackwater certainly didn't help. Oh, and the little matter of holding prisoners at Guantanamo and... more torture.
Both wars were carried out in retaliation for the terrorist attacks of September 11, 2001. The attacks, which took place during Dubya's first year, resulted in the deaths of nearly 3,000 people and at least $10 billion in material damage.
A muscular foreign policy? Well, yeah... if you consider taking on third-rate powers like Iraq and Afghanistan "muscular." Dubya couldn't do much against Russia when it invaded Georgia in 2008, nor against Iran's nuclear program. Also impotent to prevent the military rise of China. Some things just can't be helped -- not even if you're a superpower.
The stock market? When Dubya took office in 2001, the Dow Jones stood at $10,587.59, the S&P 500 at $1,342.54, the NASDAQ at $2,770.38. Eight years later, the Dow was at $7,949.09, the S&P at $805.22, and the NASDAQ at $1,440.86. Those represented drops of 25 percent, 40 percent, and 48 percent, respectively.
The Great Recession in the US, which occurred during Dubya's seventh and eighth years (2007-2008) in office, triggered a worldwide financial crisis -- the worst since the Great Depression of the 1930s, and resulted in the collapse of numerous large financial firms in the US and around the world. It threatened the very viability of the international financial system.
During Dubya's seventh and eighth years, Americans lost a total of $16.4 trillion in household wealth. In 2008 alone -- Dubya's last year -- more than 1 million Americans lost their homes, and the foreclosure process had begun on another 2 million Americans.
Healthcare costs? Under the Dubya years, health insurance premiums doubled. According to the Kaiser Family Foundation, the average cost of employer-sponsored premiums for a family of four was $6,000 per year in January 2001. Eight years later, the average cost had risen to $12,680. It's no wonder that the number of Americans with healthcare insurance dropped by 7.9 million under Dubya. Some 13.7 percent of Americans were uninsured in January 2001. Eight years later, the figure had risen to 15.4 percent.
Oh, Americans have such short memories -- made only worse by how pathetically poorly many choose to be informed. This is perhaps best reflected in the immensely entertaining poll recently taken by Quinnipiac University on June 24-30. The poll surveyed 1,446 people and asked them to rate US presidents since World War II. The result? Barack Obama was found to be the worst president since WWII. Right.
It brings to mind a gag quote I found online a couple of years ago. It was accompanied by a photo of Dubya. Went like this: "I screwed you all. But thanks for blaming it on the black guy."
Bill Clinton perhaps put it best when he described the Republican Party's position toward Obama: "We left him a total mess. He hasn't cleaned it up fast enough, so fire him and put us back in."
Sounds about right.