CBS Admits: 'This Is The Worst Economic Recovery America Has Ever Had'

**BroncoBilly** · Jul 19 2012, 04:59 PM

Originally Posted by Iriemon

When Obama took office, the economy was tanking at a -9% real rate, losing 700,000+ jobs a month, unemployment was skyrocketing upward, and the stock markets were crashing in the worst recession in 80 years. The housing market was destroyed and the economy was headed straight for a depression.

But now the economy has been growing steadily for almost three years, the private sector has added jobs every month for more than two years, stock markets are up almost 100% from their recession lows, and the unemployment rate has fallen from above 10% to 8.2%, and over 4 million private sector jobs have been added since Jan 2010.

Only those invested in failure for political purposes could claim Obama has been a failure.

The failure was the last Republican administration and Congress. The real question is why do you want to put in a guy who wants to continue those same failed policies.

Unless you are the 1%, then they helped you out a lot.

Todd, I think a 12 step program would help you kick the Obama opiate addiction. Here is the truth about the bull(*)(*)(*)(*) you are spreading:

When President Obama boasts of the number of jobs created during his administration, the numbers he cites may be correct, but he doesn't count the other jobs that were lost during his administration. His critics cite the latter. Both can claim to be right because they are talking about different things.
What has been the net effect? During this administration, the proportion of the working age population that has a job has fallen to the lowest level in decades. The official unemployment rate does not count the millions of people who have simply given up looking for a job.
If everybody gave up looking for a job, the official unemployment rate would fall to zero. But that would hardly mean that the problem was solved or that the "stimulus" worked. Creating particular jobs does not mean a net increase in jobs.

http://spectator.org/archives/2012/0...ersus-net-jobs

**misterveritis** · Jul 19 2012, 05:03 PM

Originally Posted by Iriemon

When Obama took office, the economy was tanking at a -9% real rate, losing 700,000+ jobs a month,

Would you please help me understand this better? How many months did the nation lose 700K jobs per month before President Obama was elected? And how many months after President Obama was elected?

How many months of the 18 month recession occurred before President Obama entered office in January 2009 and how many after? How many months have we been in this "recovery" and what are the results?

. . . But now the economy has been growing steadily for almost three years, the private sector has added jobs every month for more than two years, stock markets are up almost 100% from their recession lows, and the unemployment rate has fallen from above 10% to 8.2%, and over 4 million private sector jobs have been added since Jan 2010.

This might be your answer. In June 2009 the NBER proclaimed the end of the recession and the beginning of the recovery. In most recoveries don't small and medium-sized companies create huge numbers of jobs, say up to an order of magnitude greater than we have seen thus far? Why do you think we are seeing more citizens signing up for social security disability than are getting jobs?

**misterveritis** · Jul 19 2012, 05:05 PM

Originally Posted by Iriemon

None since FDR. What are you blaming Obama for the recession?

I think he should be blamed for his recovery. Don't you? We have been in recovery since June of 2009. When do you think we will begin to see the recovery? I predict it will take off the day after Romney wins the election in four months.

**DonGlock26** · Jul 19 2012, 05:05 PM

Originally Posted by Iriemon

When Obama took office, the economy was tanking at a -9% real rate, losing 700,000+ jobs a month, unemployment was skyrocketing upward, and the stock markets were crashing in the worst recession in 80 years. The housing market was destroyed and the economy was headed straight for a depression.

But now the economy has been growing steadily for almost three years, the private sector has added jobs every month for more than two years, stock markets are up almost 100% from their recession lows, and the unemployment rate has fallen from above 10% to 8.2%, and over 4 million private sector jobs have been added since Jan 2010.

Only those invested in failure for political purposes could claim Obama has been a failure.

The failure was the last Republican administration and Congress. The real question is why do you want to put in a guy who wants to continue those same failed policies.

Unless you are the 1%, then they helped you out a lot.

Then, why is unemployment still above 8%?

_

**DonGlock26** · Jul 19 2012, 05:05 PM

Originally Posted by Iriemon

None since FDR. What are you blaming Obama for the recession?

No, I blame congressional Democrats for that.

So, Obama is a failure. Thank you.

_

**Iriemon** · Jul 19 2012, 05:06 PM

Originally Posted by BroncoBilly

Todd, I think a 12 step program would help you kick the Obama opiate addiction. Here is the truth about the bull(*)(*)(*)(*) you are spreading:

When President Obama boasts of the number of jobs created during his administration, the numbers he cites may be correct, but he doesn't count the other jobs that were lost during his administration. His critics cite the latter. Both can claim to be right because they are talking about different things.

I'm not sure what statement of Obama's you are referring to, but the 4 million number I stated was net jobs added since January 2010, which do count jobs lost as well.

What has been the net effect? During this administration, the proportion of the working age population that has a job has fallen to the lowest level in decades. The official unemployment rate does not count the millions of people who have simply given up looking for a job.

Which just continued a trend that started in 2001.

If everybody gave up looking for a job, the official unemployment rate would fall to zero. But that would hardly mean that the problem was solved or that the "stimulus" worked. Creating particular jobs does not mean a net increase in jobs.

What do you mean, "Creating particular jobs does not mean a net increase in jobs"?

http://spectator.org/archives/2012/0...ersus-net-jobs[/QUOTE]

**Iriemon** · Jul 19 2012, 05:06 PM

Originally Posted by DonGlock26

No, I blame congressional Democrats for that.

So, Obama is a failure. Thank you.

_

When Obama took office, the economy was tanking at a -9% real rate, losing 700,000+ jobs a month, unemployment was skyrocketing upward, and the stock markets were crashing in the worst recession in 80 years. The housing market was destroyed and the economy was headed straight for a depression.

But now the economy has been growing steadily for almost three years, the private sector has added jobs every month for more than two years, stock markets are up almost 90% from their recession lows, and the unemployment rate has fallen from above 10% to 8.2%, and over 4 million private sector jobs have been added since Jan 2010.

Only those invested in failure for political purposes could claim Obama has been a failure.

**tennisdude818** · Jul 19 2012, 05:09 PM

Originally Posted by Iriemon

This is nothing new but a continuation of a trend over the past 30 years.

We've taken almost all the growth in income and wealth of this country over the past 30 years and diverted it to the richest 1% who only spend a fraction of their money.

As a result, the middle class, the great engine of spending and thus demand, don't have the resources to spend.

So when we have a recession, is it any surprise that recovery these days is slower? We've taken the assets and purchasing power away from the middle class and transferred them to the richest who don't spend it proportionately, and thus gutted the enging of growth and recovery.

So should it be any surprise that when we look at the recoveries sinse the Reagan revolution took effect, that we see shallower, flatter recoveries than we did before?

Compare the recoveries in 1990, 2001, and the current one with earlier recoveries:

This chart is older, but the differences are dramatic:

[/QUOTE]

The top 1% thanks Obama for the bailout and will continue to generously support his campaign.

**dudeman** · Jul 19 2012, 05:10 PM

My take. The past should be the least of your concerns. It was simply itemized and deferred to the future. The future is coming soon and it won't be pretty in the USA for a long while.