To take it to its simplest form, Clinton handed over a shrinking economy to GWB and now maybe, just maybe the economy is growing again. If the 4Q
of this year is also positive, then Bush can credibly argue that the inflection point occured under his watch and attempt to take credit.
Personally, I would not give GWB's policy too much credit for a rebound. Sure his tax cut helped but I think (without having built an econometric model) that most of any recovery will be attributed to the normal business cycle.
Given Tom Daschle's hysterics about the economy earlier this year, he should eat crow. (He won't). And so should Paul Krugman for his incessant whining in the NYTimes.
When firms do start hiring again, the democrats will almost surely point out that the jobs pay less than those jobs 'created' under Clinton's watch. The truth is that Clinton presided over an unsustainable bubble economy. Dot com startups were paying fresh-out-of school liberal arts graduate with no real skills $70K plus stock options for drooling on themselves. Those good ol' days thankfully will not be back anytime soon. The next time college grads are making $70K fresh out of school, they will actually be worth it.
[Edited 2003-11-04 05:38:44]
[Edited 2003-11-04 05:40:26]