Saturday, September 8, 2012

Democracts Absolute Lie On Economy

Larry Johnson - Calling Bill Clinton a liar is akin to labeling Willy Sutton a bank robber or Bernie Maddoff a fraudster. It is a simple matter of fact. Now, he is one hell of a charming liar and does it with a grace and style that is unmatched. But once you scrap off the crapola and spooge, the actual truth is quite different from the Clinton view of reality.
Republicans were quick to jump on this:
The prevarication of Obama and the Democrats, though, is something far more serious. They are insisting that the economy is better and, after stemming the Bush hemorraghe, they’ve been creating jobs like Keebler elves baking cookies.
Well, let’s go to the acutal numbers (pull them for yourself at In January 2009 there were 142,187,000 employed. By December 2009, the end of Obama’s first 12 months in office, the number of employed stood at 137,968,000. If you have trouble with math, let me help you out–this is a loss of 4,219,000 jobs. Do we blame Obama for all of those? Probably not.
So the low point in job loss was December 2009. As of July 2012, the number of employed in the United States was 142,220,000. How many jobs have been added under Obama, starting with December 2009 as the baseline low? Four million two hundred fifty two thousand (4,252,000). That works out to an average of 133,000 jobs per month.
However, in terms of net jobs created? Obama is 33,000 jobs better at the end of July then when he took office.
But let’s take a look at the change in the civilian non-institutional population growth. During Bush’s first term, the civilian non-institutional population, i.e., those 16 and over capable of working, grew by 9,308,000. Divide that over 43 months and the potential labor market or, more simply stated, those who may want a job, increased by over 216,465 per month. If you look at the average number of jobs created each month during this period, you will find that the economy under Bush was generating 126,000 jobs per month.
What about Obama? During his first 43 months, the non-institutional civilian population increased by 8,615,000. That is an average of 200,348.
How about Ronald Reagan, who inherited a struggling economy from the inept Jimmy Carter? During Reagan’s first 43 months the civilian non-institutional population grew by 7,336,000, which averages out to 170,604 new souls per month. During that period, Reagan created 5,480,000 jobs (which means an average of 127,441 per month).
Think these numbers are irrelevant or meaningless? Baloney. If our economy was churning out 300,000 jobs a month over the last year you can bet your house or your first born that Obama would be doing handsprings on his way to an easy re-election. But the facts are otherwise. Not only is job creation anemic, but the credit markets, especially for small businesses, are still frozen and unresponsive. Only those with the highest credit ratings can get loans and even those prospective buyers are subjected to a scrutiny usually reserved for convicted felons.
Let’s see Obama run on his record. I can’t wait to see the Democrats argue across the country that the economy is doing well. It isn’t. Bad news for Obama? The Republicans are poised to hit him with the big guns. They have not yet begun to fight.

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