Monday, January 23, 2012

Jobs (and no,not the guy from Apple)

As we all know, a very significant part of the upcoming Republican Presidential campaign is going to consist of a disingenuous attempt to sucker the American people into believing that our current economic troubles are the result of Obama's presidency.  This has, of course, been going on almost since he took office, but it is about to intensify into a never-ending, blaring din.  Consequently, it is going to be very important that we all know the true story of the economic collapse of 2008.  Here is a bare start, in the form of a single chart.

This chart comes from a website called the Daily Jobs Report, and here it is, along with a description of what it is:

Here is part of the explanation of what this chart shows:

"This sample chart shows the business cycle of the US economy. It is derived from tax data reported by the US Treasury Department, and is updated each business day. Each point on the chart is the year-over-year growth rate of taxes withheld from the paychecks of American workers....Notice how this technique captured the plunge during the recession in 2001, the bottom in late 2002, the expansion up to the top in 2007, the bone-crushing collapse of 2008 and 2009, and the rebound of 2010."

You can also see a more detailed explanation of what this reveals at this page of their website.

This chart clearly reveals that the collapse of the economy began under George W. Bush's watch, and that the economy was in free fall by the time Obama took over.  Within months of taking office, Obama had stopped the crash, and despite constant attempts by Republicans to sabotage his efforts, had turned things around and set us on the painful road to recovery from the Republican damage.

The campaign to deny this reality is going to be financed by hundreds of millions of dollars of corporate money.  Nothing in the coming year is more important than refuting this malignant lie, and I will continue assembling evidence of the truth about the collapse of the economy, at the hands of the now-nearly-disappeared Republicans George Bush and Dick Cheney.

2 comments:

Anonymous said...

well we can always blame Clinton for getting the ball rolling.
Obama is such an economic genius that he pretty much trashed his own economic advisor's advice in the trash because he saw it wouldn't fit into his "agenda". Time to put in some grownups,like people who actually ran a state or a business. This on the job training was the most stupidest thing we ever did.

mastercynic said...

to the anonymous buffoon - clearly Reagan "got the ball rolling" - not to absolve Clinton, the false progressive, from creating a centrist myth.