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George W. Bush
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<blockquote data-quote="728ups" data-source="post: 1157542" data-attributes="member: 33372"><p>And because today is such a nice day and i'm in a great mood, here are more of those danged pesky old facts that support the Obama Administration has stimulated job growth</p><p></p><p><a href="http://aneconomicsense.com/2012/04/26/private-job-growth-under-obama-recovery-in-contrast-to-the-fall-under-bush/" target="_blank">Private Job Growth Under Obama: Recovery, in Contrast to the Fall Under Bush | An Economic Sense</a>a few excerpts:</p><p></p><p></p><p><span style="color: #373737"><span style="font-family: 'Helvetica Neue'">But as the figures above show, private sector jobs have recovered under Obama, reversing the freefall that was underway as he was taking the oath of office, while government employment has contracted sharply. In contrast, private jobs were stable when George W. Bush took office, but then started to fall and fall sharply, while government jobs rose. By 38 months into his first term, there were 2.4 million </span></span><strong>fewer</strong><span style="color: #373737"><span style="font-family: 'Helvetica Neue'">private sector jobs in the US economy than on the day Bush was inaugurated. Yet Romney repeatedly lambasts Obama for his jobs record, while he argues for bringing back the policies of BusH</span></span></p><p><span style="color: #373737"><span style="font-family: 'Helvetica Neue'"></span></span></p><p><span style="color: #373737"><span style="font-family: 'Helvetica Neue'"></span></span><span style="color: #373737"><span style="font-family: 'Helvetica Neue'"><strong>B. Private Sector Jobs</strong></span></span></p><p><span style="color: #373737"><span style="font-family: 'Helvetica Neue'">Private sector jobs were falling rapidly in the period leading up to Obama’s inauguration in January 2009, as has been discussed before in this blog (see in particular the figure <a href="http://aneconomicsense.com/2012/02/03/employment-growth-in-january-better-but-sustainability-is-a-concern/" target="_blank">at this posting)</a>. While the pace of decline was turned around almost immediately (within three months of Obama taking office), the number of private sector jobs continued to decline in Obama’s first year. But jobs in the private sector then began to grow, and by March 2012 (the most recent figure available) they are almost back to where they were when he took office. While this represents a growth of over 4 million private jobs over the past two years, the hole was a deep one. The economy was hemorrhaging 800,000 jobs <strong>per month</strong> at the end of the Bush administration. One would have of course wanted a more rapid recovery from this deep hole, but Republican opposition in Congress has blocked the measures that would have been needed to get this done (such as further stimulus).</span></span></p><p><span style="color: #373737"><span style="font-family: 'Helvetica Neue'">But while one would have wanted a more rapid recovery from the 2008 economic collapse, contrast the record of Obama with that of George W. Bush in the first term of his administration. Private jobs were growing in the final months of the Clinton administration, and were flat in the first two months of the Bush administration. But they then began to fall (with the fall well underway before the September 11 attacks, so one cannot blame them). The steady decline in private sector jobs continued for two and a half years, and at the trough there were 3.4 million <strong>fewer</strong> private jobs than when Bush took office. They then began a slow recovery, but by 38 months into his term there were still 2.4 million fewer private jobs than when Bush took the oath of office. Yet Romney and his economic advisors (most of whom held high positions in the Bush administration) advocate bringing back the policies of Bush.</span></span></p><p><span style="color: #373737"><span style="font-family: 'Helvetica Neue'">The Republican stories on jobs are myths, and not consistent with the facts. Private sector jobs have recovered under Obama, and have grown by over 4 million jobs once the downturn Obama inherited was stopped. One would have hoped for a faster recovery, but further efforts to spur the recovery have been blocked by Republican opposition in Congress. And the story should be compared to that in the first term of George W. Bush, where there were 2.4 million <strong>fewer</strong> private sector jobs than when he took office, at the comparable point in his term.</span></span></p></blockquote><p></p>
[QUOTE="728ups, post: 1157542, member: 33372"] And because today is such a nice day and i'm in a great mood, here are more of those danged pesky old facts that support the Obama Administration has stimulated job growth [url=http://aneconomicsense.com/2012/04/26/private-job-growth-under-obama-recovery-in-contrast-to-the-fall-under-bush/]Private Job Growth Under Obama: Recovery, in Contrast to the Fall Under Bush | An Economic Sense[/url]a few excerpts: [COLOR=#373737][FONT=Helvetica Neue]But as the figures above show, private sector jobs have recovered under Obama, reversing the freefall that was underway as he was taking the oath of office, while government employment has contracted sharply. In contrast, private jobs were stable when George W. Bush took office, but then started to fall and fall sharply, while government jobs rose. By 38 months into his first term, there were 2.4 million [/FONT][/COLOR][B]fewer[/B][COLOR=#373737][FONT=Helvetica Neue]private sector jobs in the US economy than on the day Bush was inaugurated. Yet Romney repeatedly lambasts Obama for his jobs record, while he argues for bringing back the policies of BusH [/FONT][/COLOR][COLOR=#373737][FONT=Helvetica Neue][B]B. Private Sector Jobs[/B][/FONT][/COLOR] [COLOR=#373737][FONT=Helvetica Neue]Private sector jobs were falling rapidly in the period leading up to Obama’s inauguration in January 2009, as has been discussed before in this blog (see in particular the figure [URL="http://aneconomicsense.com/2012/02/03/employment-growth-in-january-better-but-sustainability-is-a-concern/"]at this posting)[/URL]. While the pace of decline was turned around almost immediately (within three months of Obama taking office), the number of private sector jobs continued to decline in Obama’s first year. But jobs in the private sector then began to grow, and by March 2012 (the most recent figure available) they are almost back to where they were when he took office. While this represents a growth of over 4 million private jobs over the past two years, the hole was a deep one. The economy was hemorrhaging 800,000 jobs [B]per month[/B] at the end of the Bush administration. One would have of course wanted a more rapid recovery from this deep hole, but Republican opposition in Congress has blocked the measures that would have been needed to get this done (such as further stimulus).[/FONT][/COLOR] [COLOR=#373737][FONT=Helvetica Neue]But while one would have wanted a more rapid recovery from the 2008 economic collapse, contrast the record of Obama with that of George W. Bush in the first term of his administration. Private jobs were growing in the final months of the Clinton administration, and were flat in the first two months of the Bush administration. But they then began to fall (with the fall well underway before the September 11 attacks, so one cannot blame them). The steady decline in private sector jobs continued for two and a half years, and at the trough there were 3.4 million [B]fewer[/B] private jobs than when Bush took office. They then began a slow recovery, but by 38 months into his term there were still 2.4 million fewer private jobs than when Bush took the oath of office. Yet Romney and his economic advisors (most of whom held high positions in the Bush administration) advocate bringing back the policies of Bush. The Republican stories on jobs are myths, and not consistent with the facts. Private sector jobs have recovered under Obama, and have grown by over 4 million jobs once the downturn Obama inherited was stopped. One would have hoped for a faster recovery, but further efforts to spur the recovery have been blocked by Republican opposition in Congress. And the story should be compared to that in the first term of George W. Bush, where there were 2.4 million [B]fewer[/B] private sector jobs than when he took office, at the comparable point in his term.[/FONT][/COLOR] [/QUOTE]
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