Economic Record of the Failure
Barack Obama, the total failure as President. The man who wrecked our economy. You've heard the story, and sad to say the Republicans have shouted it out so often that a large part of the American people believe it.
Here's some truth with that:
Employment
Figures from the National Bureau of Labor Statistics:
Employees on nonfarm payrolls by major industry sector
(In thousands)
2000...... 131,785
2001...... 131,826
2002...... 130,341
2003...... 129,999
2004...... 131,435
2005...... 133,703
2006...... 136,086
2007...... 137,598
2008...... 136,790
2009...... 130,920
March 2010......138,905
Yes, you are reading that right. In eight years in office, George W. Bush managed to leave with nearly a million less jobs than when he started. Since Obama's stimulus started to do its job, job growth has boomed, contrary to Republican lies: There are estimated to be millions more jobs right now than there were the day Obama took over. Bet you didn't know that.
The Deficit
Obama is creating a gigantic, out of control federal deficit, which is going to destroy our way of life, probably on purpose, right? Wrong:
"The federal deficit is running significantly lower than it did last year, with the budget gap for the first half of fiscal 2010 down 8 percent over the same period a year ago, senior Obama administration officials said Monday. "
The Market
Investors hate our socialist president, right? Well, not according to the Dow, our chief window into what they think. Today, the Dow hit 11,019. That is a 68% increase over March, 2009, less than two months after Obama took office, when the Bush economic collapse sent the Dow down to 6547. Since then, up, up, up. I guess investors and Wall Street aren't so upset with socialism, huh?
Real Estate
I don't have national figures for this one, but look at this story from the Los Angeles Times today, about Southern California, one of the areas hardest hit by the real estate collapse:
"Seeds of a housing rebound in Southern California seen in March...The median price paid for a home rose 14% in March to $285,000 from a year ago, according to MDA DataQuick."
This taken together represents an incredible recovery from the Bush depression. Yet the Republicans continue to lie about it, because lying is all they have. And lying is all they have, because once again, they have proven that Republican economic cant produces disaster, and Democratic responsible behavior fixes the problem.
Here's some truth with that:
Employment
Figures from the National Bureau of Labor Statistics:
Employees on nonfarm payrolls by major industry sector
(In thousands)
2000...... 131,785
2001...... 131,826
2002...... 130,341
2003...... 129,999
2004...... 131,435
2005...... 133,703
2006...... 136,086
2007...... 137,598
2008...... 136,790
2009...... 130,920
March 2010......138,905
Yes, you are reading that right. In eight years in office, George W. Bush managed to leave with nearly a million less jobs than when he started. Since Obama's stimulus started to do its job, job growth has boomed, contrary to Republican lies: There are estimated to be millions more jobs right now than there were the day Obama took over. Bet you didn't know that.
The Deficit
Obama is creating a gigantic, out of control federal deficit, which is going to destroy our way of life, probably on purpose, right? Wrong:
"The federal deficit is running significantly lower than it did last year, with the budget gap for the first half of fiscal 2010 down 8 percent over the same period a year ago, senior Obama administration officials said Monday. "
The Market
Investors hate our socialist president, right? Well, not according to the Dow, our chief window into what they think. Today, the Dow hit 11,019. That is a 68% increase over March, 2009, less than two months after Obama took office, when the Bush economic collapse sent the Dow down to 6547. Since then, up, up, up. I guess investors and Wall Street aren't so upset with socialism, huh?
Real Estate
I don't have national figures for this one, but look at this story from the Los Angeles Times today, about Southern California, one of the areas hardest hit by the real estate collapse:
"Seeds of a housing rebound in Southern California seen in March...The median price paid for a home rose 14% in March to $285,000 from a year ago, according to MDA DataQuick."
This taken together represents an incredible recovery from the Bush depression. Yet the Republicans continue to lie about it, because lying is all they have. And lying is all they have, because once again, they have proven that Republican economic cant produces disaster, and Democratic responsible behavior fixes the problem.
Comments
2001: 4.75%
2002: 5.8%
2003: 6%
2004: 5.5%
2005: 5%
2006: 4.6%
2007*: 4.6%
2008*: 5.8%
2009**: 9.3%
2010**: 9.7%
^ yearly averages of unemployment rate. Data from BLS.
A * denotes a year when the Democrats have control of Congress and ** denotes a year when Democrats have control of Congress as well as the Presidency.
It looks a bit different like this doesn't it?
Good year or two, recession, recovery, couple good years, then we start a downward spiral with the Democrats. I'm not sure how you can respond to this GE but please do, I am anxious to see if you can.
""The federal deficit is running significantly lower than it did last year, with the budget gap for the first half of fiscal 2010 down 8 percent over the same period a year ago, senior Obama administration officials said Monday. "
You do realize Obama was in office last year right?
Federal Deficit by year as percentage of GDP:
2000: -2.37%
2001: -1.25%
2002: 1.48%
2003: 3.39%
2004: 3.48%
2005: 2.52%
2006: 1.85%
2007*: 1.14%
2008*: 3.18%
2009**: 9.91%
2010**: 10.64%***
*** US FY2010 Budget Projection
Again, Obama is spendin money at a rate faster than any previous President.
"Investors hate our socialist president, right? Well, not according to the Dow"
Well they certainly don't like him. Recovery was inevitable as the business cycle always promotes a bounce back from recession. The point is that we'd be better off if he hadn't spent so much and hadn't increased regulations. Again, I know I have said this a thousand or so times, but economists projected us to be out of the recession by mid to late 2009.
"
This taken together represents an incredible recovery from the Bush depression."
Home sales hit a record low in February of this year. http://www.census.gov/const/newressales.pdf
I'd really appreciate a researched response with sources or stats.