Economists: Bush’s 4% Economic Growth In FL Based On His Brother’s Housing Bubble

Nice trick from Jeb Bush to get the housing bubble that blew up the economy under his brother George W. Bush to act as viagra for his economic record in Florida.

The trouble is, say some economists, Gov. Bush’s Florida growth record was based in large part on a housing bubble – national in scope but particularly frothy in Florida — that exploded the year he left office in 2007. Wells Fargo economist Mark Vitner, who has studied the Florida economy since the 1980s, estimates that the housing bubble accounted for about one-fourth of Florida’s growth during Mr. Bush’s tenure.

Subtract that out and you are left with 3.3% annual growth, somewhat faster than the 3% at which the U.S. economy grew annually during that period.