Graph! Job Loss Exploded Under Bush, Gets Better Under Obamatalkingpointsmemo.com — A simple graph shows how job losses skyrocketed in President Bush's last year in office and has steadily fallen in President Obama's last year of office. The numbers don't lie.
There were alot of comments pertaining to this graph, some calling it a false sense of hope and some saying it's accurate. I'll add a few here:
This graph shows what republicans can't seem to understand. Yes, the unemployment rate has gone up but the rate of job losses has decreased considerably in the past year. You can't go from 800,000 jobs lost in January of '09 to instant job creation the next month. The unemployment rate should slowly trickle down as the job losses (or actually gains) goes into the positive again.
The link above shows a graph and this paragraph...
Since 1940, Republicans have controlled the White House for thirty-six years; Democrats for thirty-three. Yet Bureau of Labor Statistics data show that almost two-thirds of new jobs were created during Democratic administrations. What about the years since Reagan was elected, promising prosperity through lower taxes, balanced budgets and less regulation? The Clinton years resulted in 21 million jobs, more than two decades of Reagan, Bush I and Bush II. One last detail: these numbers reflect only private-sector jobs; including the public sector would widen the gap in the Democrats' favor.
28 comments:
And all these talking heads are saying the Rethugs could come back in power.. how in the world would anyone with any sense at all want them to come back... it doesn't make any sort of sense to me.. to put them back in power after looking at things like that. Not a bit.
Any minute now, the trolls will show up and declare that it doesn't count because the government did it..... 4..... 3..... 2..... 1.....
That's what I say Annette. HOW can people want to go back to rethugs is mind boggling! Give the president a chance for his actions to take hold people! Thank God we still have 3 more years even tho its gonna take much longer. At least we can continue on the right track for people to see results of dems in power.
Infidel they usually don't show when they can't find a reason to dispute facts. Just like the Hannity lie post.
If they got a check in the mail from the government for $1 M, thanking them for being such good citizens and telling them to spend it however they like, they'd bitch all the way to the bank.
Linda left a comment but deleted it, I guess to check her facts. She's blaming the Dem congress in Bush's last 2 years for his terrible job loss numbers....
Sure, some will argue that there were Democrat majorities in the Congress during those Republican's Presidential terms. However, there was no veto-proof super majority. Therefore, if the President has the ability to veto something that will increase the debt or deficit and does not, even though the Congress could not overturn it, logically the majority of responsibility falls to the President.
The dem congress is not to blame Linda. When will you stop putting Bushes failures on everyone but Bush?
WTF?!? I thought the stimulus was not working? Must have been listening to too many trolls.
Republicans have been misrepresenting the facts to Americans for decades. I'm sure conservatives find these numbers so surprising, that they won't believe them. They will continue to make their decisions on no facts, or false facts.
My post "Mondale Was Right" compared the tax and national debt graphs, exposing another myth spouted by Republicans, that cutting taxes results in economic growth.
President Clinton brilliantly continued the Reaganomics revolution. Funny that both presidents raised taxes, then lowered them, in their first terms.
Also, comparing presidents is interesting, but you must take into consideration that a president doesn't just snap his fingers and things change.
As Obama keeps reminding us over, and over, and over, and over... ad infinitum, a president never starts from scratch. He inherits from previous administrations.
Reagan (and Paul Volker at Fed) broke with the past and created the greatest economic boom in history.
Bush I largely left things alone and fell victim to the natural business cycle. Clinton was smart enough to leave the Reagan economic policies alone.
Economic indicators show that we are climbing out of the recession. It was inevitable--nobody thought we wouldn't. We have a fundamentally solid base of banks, finance, infrastructure and an educated, hard-working workforce.
The question is, will we expand at a rate that overtakes unemployment. Regulatory uncertainty and an ever-expanding government gobbling all capital mitigate against another Reagan or Clinton expansion.
Government can offer palliatives, but it cannot spur economic growth.
You are right, TOM. Our greatest economic growth was while the top marginal tax rate was above 50%.
Jerry Critter,
Yes, in fact the tax rate was more like 70-80% and more.
I'm sure that helped create a rebellion against high taxes, but we were paying our bills, without huge debts.
As soon as Reagan cut taxes we got a 5 trillion dollar debt. Simple Math.
Silverfiddle,
Reagonomics/Volcker's interest rate hikes accelerated the financialization which got us into this mess.
I'd hardly call Reagan's spendthrift ways an economic boom.It was more like a debt boom.
You have it exactly backwards.With a trade imbalance and a deeply indebted private sector govt spending is the ONLY way to spur economic growth.
thanks for the really great comments! I would like to take a step back from the blame game and just say this chart looks like an economic recovery is real and not base it on whether it's a dem or a repub in office. Can't we just say the future looks rosey?
The Republicans are just hating this. They are coming up with excuse after excuse and reason after reason for the gradual change to the good.
I am thrilled about it, although I understand zero about economics, taxes, interest rates, etc. I am seriously brain dead in those areas, which is why I never write about or comment on it. I can't even figure 10% out of $100.00.
Having said that, I do understand the basic meaning of this and am very happy about it. We need some good news for a change.
Sue ~ The real reason I deleted my comment was that I suddenly got so tired of hearing all the liberal lies (culled from some liberal blog or worse yet, comments made on some liberal blog)and having them represented as the truth that I just decided to stop wasting my time.
The only thing you want to hear is how wonderful Obama is and how much better the liberal agenda is. You will never hear those words from me, so I just decided to enjoy my time doing something I love doing.
So, I guess...Bye.
Linda,
Are you saying that the chart in Sue's post is not true? If so, I'd like to see your reference for that.
I'm no economist, either, but it's evident that, in order to create a gain in jobs, we needed to fill the giant hole of unemployment first. So, even though many jobs have been created, it's going to take awhile to get out of the red...and we are obviously well on our way to putting people back to work. I couldn't believe Brown (MA) spewing about how "not one job had been created." Can someone please explain positive and negative numbers to this guy??? Mu fourth graders get it, maybe they can!
Love the graph - the one Maddow had on filibusters was pretty telling, too. Unless you're a junior Senator from MA, of course.
Nice post, Sue. Definitely brings it home!
Linda you know better than that. I have not been a gushy, smooching ass kissing Obama Mama. I can recognize when something is showing me factual data and is a positive turn around for our country. Why can't you? If we start to see changes in our economy, see that Obamas policies are working, and people are feeling more positive, will you say something nice?
mommaP, I thought Brown sounded like a 5th grader in his first public appearance since being sworn in. What a nerd!!
Thanks for the great comments!
Sue, after fact checking this chart with official labor stats and finding it fully accurate, I almost posted this myself, but It got crowded out today. I'm glad to see that you and a couple others have put it up. Claims that this data reflects liberal lies are false.
Thanks Tom, I think we all should be glad to see the up side of this chart, liberals and conservatives! If you love America then you want her to recover, right??
Actually, the republicans would rather see Obama fail than America succeed.
Linda: "The real reason I deleted my comment was that I suddenly got so tired of hearing all the liberal lies."
If we libs and our opinions make you so sick, then why in hell do you come here?
tnlib, Linda has said a few times that she would never come back, yet she always does. As typical of some high strung conservatives go, she's not a person of her word.
CDM: There's something psychologically wrong with someone who likes to get the shit beat out of them all the time.
tnlib - To be fair(and balanced), I have to say this in her defense...
I got nothing.
CDM: very, very funny.
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