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Thread: Worst day since 2008 financial crisis

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    Re: Worst day since 2008 financial crisis

    Quote Originally Posted by pbrauer View Post
    In 2008 Bush handed Obama the worse job loss (2,590,000) since 1945 which was 2,750,000. Even worse than Reagan's job loss in 1982 of 2,130,00. Nov. and Dec. of 2008 were 2 straight months where the economy lost over 500,000 jobs.

    Total 2008 job loss: 2.6 million - Jan. 9, 2009
    Sure glad we had a Democrat Congress in 2008 that saved us from Bush. Wonder what that Congress was doing? Looks like me it was positioning itself to regain the WH. then they regained the WH and generated the following results

    Obama economic results in 2011, .4% GDP and 1.3% GDP growth in 2011, 24+ million unemployed or under employed Americans in 2011, 4 trillion added to the debt in less than 3 years, and a downgrade of the U.S. credit rating. Rising Misery index 7.83 to 12.67. First President in U.S. History to have our credit downgraded on his watch!
    You must be so proud

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    Re: Worst day since 2008 financial crisis

    Quote Originally Posted by Sheik Yerbuti View Post
    Net job gain? There was a NET LOSS of 4 million jobs in 2008. 8 million jobs lost during Bush's Great Depression. 12 million becoming underemployed during Bush's Great Depression.

    Add to that a $1.2T deficit and a $10.6T debt and a Republican party of "no" Congress who refuses to deal with Obama and a downgrade was inevitable.


    So? Obama lost 2.3 million jobs to date. At this same point in Bush's presidency, he lost 3.2 million jobs. At this same point in Reagan's presidency, he lost 3.1 million jobs, and that was with a workforce 1/3rd smaller than today; by today's workforce, that's like 4 million.

    Yet you still voted for each of them to serve 4 more years. I have no doubt that if Obama were a Republican, you would be voting for him next year because results don't matter to you. All that matters to you is that the candidate put an "R" after their name.
    Looks like the Obama solution to reducing unemployment is to get people to drop out of the labor force. Fewer people working today than when he took office as well. Not only has he higher unemployment than when he took office but also fewer jobs in the marketplace. Just think what the unemployment rate would be if a few more million dropped out of the labor force?

    Employment numbers January 2001 to January 2011

    2001 137778
    2002 135701
    2003 137417
    2004 138472
    2005 140245
    2006 143142
    2007 146032
    2008 146421
    2009 142221
    2010 138333
    2011 139323

    Looks to me like a net job gain for Bush 137.7 to 142.2 whereas Obama has a net job loss of 142.2 to 139.3. Correct me where I am wrong?
    Last edited by Conservative; 08-12-11 at 01:47 PM.

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    Re: Worst day since 2008 financial crisis

    Quote Originally Posted by pbrauer View Post
    In 2008 Bush handed Obama the worse job loss (2,590,000) since 1945 which was 2,750,000. Even worse than Reagan's job loss in 1982 of 2,130,00. Nov. and Dec. of 2008 were 2 month where the economy lost over 500,000 jobs.

    Total 2008 job loss: 2.6 million - Jan. 9, 2009
    The unemployment numbers must have been revised after that article was published because if you look at household survey unemployment and factor in discouraged folks, November and December of 2008 lost 1.3 million jobs.

    Here are the staggering numbers during Bush's Great Recession (which no president since FDR inherited numbers these bad)...

    2007-Dec .... -417,000
    2008-Dec ...... -93,000
    2008-Feb ... +283,000
    2008-Mar .... -345,000
    2008-Apr .... +164,000
    2008-May .... -780,000
    2008-Jun ..... -212,000
    2008-Jul ...... -404,000
    2008-Aug .... -456,000
    2008-Sep .... -154,000
    2008-Oct ..... -636,000
    2008-Nov .... -500,000
    2008-Dec .... -826,000
    2009-Jan .... -732,000
    2009-Feb .... -750,000
    2009-Mar .... -495,000
    2009-Apr .... -511,000
    2009-May ... -830,000
    2009-Jun .... -265,000

    From October, 2008 through February, 2009 alone, we lost 3 million jobs. In the end, 8 milion jobs lost thanks to Bush's Great Recession.


    Bureau of Labor Statistics Data


    Bureau of Labor Statistics Data


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    Re: Worst day since 2008 financial crisis

    Quote Originally Posted by Sheik Yerbuti View Post
    The unemployment numbers must have been revised after that article was published because if you look at household survey unemployment and factor in discouraged folks, November and December of 2008 lost 1.3 million jobs.

    Here are the staggering numbers during Bush's Great Recession (which no president since FDR inherited numbers these bad)...

    2007-Dec .... -417,000
    2008-Dec ...... -93,000
    2008-Feb ... +283,000
    2008-Mar .... -345,000
    2008-Apr .... +164,000
    2008-May .... -780,000
    2008-Jun ..... -212,000
    2008-Jul ...... -404,000
    2008-Aug .... -456,000
    2008-Sep .... -154,000
    2008-Oct ..... -636,000
    2008-Nov .... -500,000
    2008-Dec .... -826,000
    2009-Jan .... -732,000
    2009-Feb .... -750,000
    2009-Mar .... -495,000
    2009-Apr .... -511,000
    2009-May ... -830,000
    2009-Jun .... -265,000

    From October, 2008 through February, 2009 alone, we lost 3 million jobs. In the end, 8 milion jobs lost thanks to Bush's Great Recession.


    Bureau of Labor Statistics Data


    Bureau of Labor Statistics Data

    Wow, and with a Democrat Congress in 2008, now how can that be? Bush did all that damage all by himself? That seems to be your story with Bush but then with Obama it is the Congresses fault except that Obama had a Democrat Congress and still generated these results

    Obama economic results in 2011, .4% GDP and 1.3% GDP growth in 2011, 24+ million unemployed or under employed Americans in 2011, 4 trillion added to the debt in less than 3 years, and a downgrade of the U.S. credit rating. Rising Misery index 7.83 to 12.67. First President in U.S. History to have our credit downgraded on his watch!
    As stated which of course you ignored, just think of what the unemployment rate would be or the actual numbers if a few more million dropped out of the labor force and thus were no longer counted? Now I guess we know what the Obama economic policy is. By the way seems to me that Obama inherited a AAA Credit rating and saw it downgraded 2 1/2 years after taking office. Name for me another President who saw the country's credit rating downgraded?

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    Re: Worst day since 2008 financial crisis

    may 20:

    Nearly 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.
    Job creation limps along after recession - USATODAY.com

    stimulus, anyone?

    qe?

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    Re: Worst day since 2008 financial crisis

    Quote Originally Posted by Conservative View Post

    2001 137778
    2002 135701
    2003 137417
    2004 138472
    2005 140245
    2006 143142
    2007 146032
    2008 146421
    2009 142221
    2010 138333
    2011 139323

    Looks to me like a net job gain for Bush 137.7 to 142.2 whereas Obama has a net job loss of 142.2 to 139.3. Correct me where I am wrong?
    Now factor in the number of jobs lost over that period ...

    January, 2001: 6,324,000
    January, 2009: 12,718,000

    An increase to unemployed + discouraged of 6,394,000.

    Pretty much explains why the unemployment rate doubled under Bush, doesn't it?

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    Re: Worst day since 2008 financial crisis

    Quote Originally Posted by The Prof View Post
    Now there you go again, confusing the Obama supporters with actual data. You know they don't like that thus they will ignore it

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    Re: Worst day since 2008 financial crisis

    Quote Originally Posted by Conservative View Post

    Wow, and with a Democrat Congress in 2008, now how can that be? Bush did all that damage all by himself?
    No, Bush had help from a Republican Congress ...

    "Thanks to our policies, home ownership in America is at an all-time high." ~ George Bush, 9.2.2004, RNC acceptance speech

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    Re: Worst day since 2008 financial crisis

    Quote Originally Posted by Sheik Yerbuti View Post
    Now factor in the number of jobs lost over that period ...

    January, 2001: 6,324,000
    January, 2009: 12,718,000

    An increase to unemployed + discouraged of 6,394,000.

    Pretty much explains why the unemployment rate doubled under Bush, doesn't it?
    I just cannot explain how in a growing population that the number of jobs dropped over the past 2 1/2 years. Please explain that to me?

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    Re: Worst day since 2008 financial crisis

    Quote Originally Posted by Sheik Yerbuti View Post
    No, Bush had help from a Republican Congress ...

    "Thanks to our policies, home ownership in America is at an all-time high." ~ George Bush, 9.2.2004, RNC acceptance speech
    Oh, I see, there wasn't a Democrat Congress in 2007-2008. Thanks for clearing that up. Please let the Govt. know they were wrong and you are right

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