Obama’s imaginary recovery

Posted by on Aug 23, 2012 at 8:04 am

When President Reagan was sworn into office, there were 74.6 million private sector jobs in the U.S. economy. At the nadir of that recession, employment fell to just 72.7 million jobs. By August 1984 the economy supported 78.8 million private sector jobs. So from the depths of the recession, to an identical place in Reagan’s term, the Reagan recovery created 6.1 million jobs. Alternatively, from inauguration to August ’84, the Reagan recovery had created 4.2 million private sector jobs.

When Obama was sworn into office, there were 111 million private sector jobs. At the bottom of this recession, private employment fell to 106.7 million. Today, the U.S. economy supports 111.3 million jobs. So, from bottom to top, the Reagan recovery created 6.1 million private sector jobs while the Obama recovery has only created 4.5 million jobs. And from inauguration to August of reelection, Reagan created 4.2 million private sector jobs to Obama’s 312,000.

The total jobs numbers are even worse for Obama. When he was sworn into office, the U.S. economy supported 133.5 million jobs overall. Today, it only supports 133.2 million. That’s right: Obama is still a net job destroyer. You can see why Cutter has to make things up.

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