Nation's first MBA president proves a bust for economy
"Economy Made Few gains in Bush Years" is a headline from today's Washington Post. According to the story by Neil Irwin and Dan Eggan, the nation's first president with an MBA (from Harvard, to boot!) "has presided over the weakest eight-year span for the U.S. economy in decades." The story is filled with gloomy statements that define the Bush era as "as a time of little progress on the nation's thorniest fiscal challenges," and as a period that showed "...the most tepid growth over any eight-year span since data collection began seven decades ago." The Bush team, with characteristic bravado, claimed pride in their economic accomplishments. Here's what Edward P. Lazear, chairman of Bush's Council of Economic Advisers, is quoted in the article as having recently said: "It does look like a great eight years, aside from the last quarter, unfortunately. In the long term, things look good. The reason things look good...