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Political Factoid
We now know (after the fact)
that the government numbers,
issued in the last year of the
Bush administration, about
the state of the economy
....covered up (perhaps
not intentionally) how
serious the problems
really were.
The Gross Domestic Product (GDP) had
dropped twice as much as the Bush
administration was reporting.*
The GDP was initially reported (in 2008)
as down 3.8% but the report was subsequently
revised downward to 6.4%.
| * |
In other words, the Republican administration
handed over a problem that was twice as bad
as they had labelled it.
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cf.
4460
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-30-
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