As always Krugman hits the nail head on. The following graph is just a teaser.
The New York Times > Opinion > Op-Ed Columnist: Bye-Bye, Bush Boom: "But Mr. Bush has already presided over a bust. For the first time since 1932, employment is lower in the summer of a presidential election year than it was on the previous Inauguration Day. Americans badly need a boom to make up the lost ground. And we're not getting it."
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