Job creation limps along after recession - USATODAY.comNearly two years after the economic recovery officially began, job creation continues to stagger at the slowest post-recession rate since the Great Depression.
The nation has 5% fewer jobs today — a loss of 7 million — than it did when the recession began in December 2007. That is by far the worst performance of job generation following any of the dozen recessions since the 1930s.
In the past, the economy recovered lost jobs 13 months on average after a recession. If this were a typical recovery, nearly 10 million more people would be working today than when the recession officially ended in June 2009.
Your way, Congress has to battle, like they did over the debt ceiling, to figure out what other expenses they're going to cut. Sorry, but people stuck on their rooftops like they were after Katrina can't wait 11 weeks for the Congress to sort it all out like they did with the debt ceiling.
And again ... it's not just natural disasters ... it may be a market crash ... it may be another housing crash ... it may be a recession ... it may be a terrorist attack like 9.11 ... it may be a war.
Last time I'm gonna say this ... I don't think it's wise to tie Congress' hands like that while you still have the option to vote them out.
Last edited by Sheik Yerbuti; 08-01-11 at 02:05 PM.
Could you outline for me how a demo house, and Senate from '06 on, and then both houses, and the Presidency from '08 to present allows you to still, nearly 5 years later still focus blame on Bush, and the repubs?
I will concede that repubs totally screwed things up when they had the total control, and Bush did some things that I don't agree with on that front as well, but if you are still trying to blame this present day economy, and amount of out of control spending on the repubs, then with all due respect you are really deluding yourself.
This is Obama's economy and dismal outcome lock, stock, and barrel.
Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.
Alexis de Tocqueville
:When It Rains it Pours! Obama Losing Support Even Among African Americans
by Christopher Arps
My favorite contributor over at Black Entertainment Television wrote a piece on President Obama’s eroding support among African Americans –specifically on his dismal handling of the economy. According to aWashington Post/ABC News poll, Obama’s African American support has dropped from 77%, to just over half supporting his stewardship of the economy. What a difference just two and a half years can make! When the president was elected, the exuberance among African Americans was infectious, joyous, and a bit overly optimistic as this clip from the day after the election shows:
Liberals and African Americans still clinging to “hope and change” cite in the president’s defense that he inherited a terrible economy from President Bush and that Obama can’t be expected to turn the economy around in only two and half years. It’s almost a plausible argument – until you start comparing this presidency and economy with the economy our 40th President inherited from Jimmy Carter in 1981.
When Ronald Reagan was inaugurated in 1981, interest rates were at 21%, inflation was at a wrenching 13.5%, and unemployment was at 7%. In contrast, when President Obama was inaugurated in 2009, interest rates were at a historically low 3.25%, inflation stood at 4.2%, and unemployment was at 7.8%. The misery index (the addition of inflation and unemployment numbers) when Reagan entered office was 20.5%, for Mr. Obama, 12.8%. Currently under President Obama, inflation is 2.7% and unemployment is at 9.2% and climbing with many economists believing it’s really 16% giving Obama a real misery index of 18.7%. Even the liberal Washington Post suggests that President Obama has had enough time to jump start the economy