Last updated: September 1st, 2023
Texas Governor George W. Bush, the son of former US president George H. W. Bush, was president from 2001 – 2009. He inherited an economy in contraction from the previous stock market highs of the NASDAQ bubble, and cut taxes in 2001 and 2003.
The 9/11 attacks in 2001 were major issues of Bush’s presidency. The economy also fell into a recession at the end of his second term caused by the subprime mortgage crisis leading to a credit crunch and Lehman Brothers and Bear Stearns bankruptcies.
Below is a table summarizing George W Bush's cumulative and annualized performance across all the metrics we track. These are for the entirety of George W Bush's term.
| Indicator | Cumulative Gain/Loss |
|---|---|
| NASDAQ | -44.80% |
| DOW | -21.78% |
| S&P | -36.68% |
| Job Growth | 1.02% |
| GDP Growth | 14.62% |
Doubled defense spending (2001 – 2008)
- Economic Growth and Tax Relief Reconciliation Act (June 2001)
- Jobs and Growth Tax Relief Reconciliation Act (May 2003)
9/11 Terrorist Attacks (Sept 2001)
- Second Gulf War (Mar 2003)
- The Great Recession (Dec 2007)
Under George W Bush’s presidency, the S&P 500 lost 36.68%, the NASDAQ lost 44.80% and the Dow Jones lost 21.78%. Annualized, the S&P 500 lost 5.55%, the NASDAQ lost 7.16% and the Dow Jones lost 3.03%
Here is George W Bush’s cumulative stock market performance broken out by term.
| Indicator | Cumulative End of Term 1 | Cumulative End of Term 2 |
|---|---|---|
| NASDAQ | -23.98% | -44.80% |
| DOW | 0.39% | -21.78% |
| S&P | -10.92% | -36.68% |
Go to our Learning Center to learn more about stock market performance and how it affects you.
Here is Bush’s cumulative GDP growth performance broken out by term.
| Indicator | Cumulative End of Term 1 | Cumulative End of Term 2 |
|---|---|---|
| GDP Growth | 11.71% | 14.62% |
Here is Bush’s cumulative job growth performance broken out by term.
| Indicator | Cumulative End of Term 1 | Cumulative End of Term 2 |
|---|---|---|
| Job Growth | 0.06% | 1.02% |
We capture the data as soon as it’s available to us – stock market data after daily market close, jobs data once a month and GDP data once a quarter. After verifying the raw data, we then calculate updated cumulative and annualized performance data for the current president (the data for previous presidents have been calculated and verified in advance).
Some metrics are measured daily (like stock market performance), monthly (like jobs growth) and quarterly (like GDP growth). We start measurement of performance for a president from the first full time period after their inauguration. For stock market performance, it is the first stock market day in office. For jobs growth, it’s either first full calendar month in office (so if you are inaugurated in the middle of January, the first full month is February). This ensures a consistent starting point across all presidencies.
Also, read these articles in our Learning Center:
- What is the difference between cumulative and annualized performance?
- What’s the best way to interpret the facts and data on Facts First?
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