GCIU:Just the facts, folks!

As the son of the former president, George W. Bush wants us to relieve the policies of the past. As the numbers show, those were the "bad old days." The leadership of the Clinton/Gore years produced historically low levels of unemployment, while helping the federal budget go from the largest deficit in U.S. history to the largest surplus. While the two figures are not necessarily interrelated, they are two of the economic indicators that have the largest impact on working families and the economy.

Despite inheriting from Republicans Bush/Quayle the highest deficit in the history of the United States, $290.4 billion, Clinton/Gore achieved a federal budget surplus of $236 billion. [2] This is a $526 billion turnaround!

The lowest monthly U.S. employment rate since January 1970 was recorded under Clinton/Gore at 3.9 percent in April and October of 2000. Under Bush/Cheney, the unemployment rate for January 2002 was 5.6 percent, representing 7,922,000 unemployed workers.

Notes:
1. This budget surplus of 1969 is due to the budget submitted by Lyndon Johnson.
2. Office of Management and Budget, Budget of the United States Government, Fiscal Year 2002.
3. April 2000 and October 2000 figure.
4. January 2002 figure.

This chart revision was prepared by the International Brotherhood of Electrical Workers' Research and Technical Services Department. This chart was reprinted with permission from the IBEW.

Sources for data: U.S. Bureau of Labor Statistics; U.S. Office of Management and Budget.

[back to top]