Posted by Tina
Ask and ye shall receive. A few days ago I promised to post a comparison to past recovery periods following recession. I was thinking of the recovery Ronald Reagan produced for the most part and voila! Peter Ferrara at The American Spectator has written a very good article on just that subject:
In the first 2 years of the Reagan recovery, the American economy created 8 million new jobs, the unemployment rate fell by 3.6 percentage points, real wages and incomes were jumping, and poverty had reversed an upsurge started under Carter, beginning a long-term decline. While Obama crows about 227,000 jobs created last month, in September, 1983 the Reagan recovery less than a year after it began created 1.1 million jobs in that one month alone. In the second year of the Reagan recovery, real economic growth boomed by 6.8%, the highest in 50 years.
In contrast, under President Obama, unemployment actually rose after June 2009, when NBER counts the recession as officially ending, and did not fall back down below that level until 18 months later in December 2010. Instead of a recovery, America has suffered the longest period of unemployment this high since the Great Depression. Even today, 51 months after the recession started, the U6 unemployment rate counting the unemployed, underemployed, and discouraged workers is still nearly 15%.
And that doesn’t include all the workers who have fled the workforce under Obama’s economic oppression. Under Obama’s supposed recovery, the number of working age Americans not in the labor force rose by 7.14 million. As John Lott and Grover Norquist recently observed, “There is no comparable post-World War II ‘recovery’ where this type of exodus has occurred.”
Americans are worried and we should be. This is a disgrace and it would seem that, given the Presidents constant reassurances that things are getting better, he is either blind (doubt it) or clinging firmlyto this failure on purpose as part of his personal philosophy and goals.
This is a must watch 14 minute YouTube video!!
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An extremely important movie is coming this summer – Dinesh D’Souza – Obama & 2016
Dinesh D’Souza is author of many New York Times best sellers. The movie is from Gerald R. Molen, producer of Academy Award Winning Schindler’s List and the producers of Braveheart.
It explains in plain language who Barack Obama really is, what he stands for, and the dangers of him being reelected for another four years.
Watch this 14 minute video with a preview of the movie, which came out on Feb.28, 2012 and also a presentation by Dinesh D’Souza
http://www.youtube.com/watch?v=Z6QOscKvUjU
The American Spectator? There’s where I go, every time, for an un-ideological slant.
(that’s me being facetious)
And Tina, this wasn’t a recession … this was a hair’s breadth from the Second Great Depression. You manage to put Romney in the Oval Office and we’ll have it after all.
Romney is, I’m sorry, the most extravagantly dim wit.
Romney most certainly could not do any worse than Obama.
The electing of a Republican President will, at the least, stimulate business who will start to feel that government will slowly get off their backs. Even a minor stimulus (as opposed to Obama’s debt increasing ones) will likely create jobs which in turn will get us out of the Obamaconomy death spiral.
The more I look at this election, the more I believe that Obama will not be re-elected. This means whichever Republican does get elected, they will need to produce big in the jobs and economic growth. If they do, it could mean the end of the democratic party on the national scale for a long time.
Libby it was a recession until this president chose to embrace Keynesian solutions…just like they did when the banks failed in 1929! The near depression has been created by the Obama administrations response. The depression hype was an election mantra to blame the previous administration.
It’s necessary for you to attack the Spectator as cover for the disasterous failures of this administration.
The only recovery he has administered is cash for fat cat bankers and companies that gave him money for his 18 month long run for president. Certain unions have done well, also GE, Goldman, Buffet, and a miriad of green technology (failures). NONE OF THIS SPENDING HELPED CREATE GROWTH OR JOBS for the everday person. It has all been used as quid pro quo payback. If that wasn’t enough he piled on by enacting more regulation, another entitlement and taxes that won’t kick in until his second term so as not to hurt his election chances. Trouble is business can see what he has done; it doesn’t inspire confidence to take risks.
Any of the candidates the Republicans have would be better than this inexperienced, agenda driven, prejudiced spender. His main objectives are giving away money/benefits and getting reelected. Picking winners and losers. That is not the his description and he should definitely be fored and replaced with someone who will focus on solutions that benefit everyone and support the overall economy.