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When Obama said unemployment wouldn't reach 8% if we passed the stimulus, I didn't know he meant that we would stay above that number. I guess I misunderstood.
Lets compare numbers...huum, seesm it is so important to pick time horizons.....why dont'we look at something on a yearly basis..I would bet a better indicator, such as unemployment each yr would tell us more about the Economy, peoples QOL, etc. than job growth..since surely it is easy to stack the deck depending on a starting point...as illustrated below...
The Truth-O-Meter Says: "In the first year of the Obama administration, more jobs were created in the private sector than in the eight years of the Bush administration."
Nancy Pelosi on Monday, May 16th, 2011 in an interview with Bloomberg television
Nancy Pelosi says more jobs created in Obama's first year than eight years of George W. Bush
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House Minority Leader Nancy Pelosi resurrected a talking point about job growth under President Barack Obama in a Bloomberg television interview. We checked her math.
During a May 16, 2011, interview with Bloomberg television, House Minority Leader Nancy Pelosi, D-Calif., praised President Barack Obama’s record on jobs while taking a shot at former President George W. Bush.
"We got in this situation where we had tax cuts for the wealthiest people in our country, which did not create jobs," she said. "In the first year of the Obama administration, more jobs were created in the private-sector than in the eight years of the Bush administration, with all of the tax cuts that President Bush had."
According to the Bureau of Labor Statistics, the economy shed almost 4.2 million private-sector jobs during the first year of the Obama administration -- January 2009 through January 2010.
Meanwhile, during eight years under Bush, the economy gained a net 188,000 private sector jobs.
So while job growth under Bush was anemic by historical standards, it was still better than the 4.2 million jobs lost under Obama. That means Pelosi was wrong.
A Pelosi spokesman, Nadeam Elshami, told PolitiFact that Pelosi simply misstated a talking point that she’d used many times before. In one variation provided by her office, Pelosi sent out a news release that said in part, "America has had 12 consecutive months of private-sector job gains totaling 1.5 million. That is more private-sector jobs than were added in the eight years of the Bush Administration."
Pelosi was right that the economy created 847,000 jobs during the period she indicated. But she would have been incorrect if she’d cited total employment rather than private-sector employment. And she chose her starting and ending dates in a way that was highly favorable to Obama and unfavorable to Bush. Pelosi essentially started counting from the low point for jobs and only counted the upward part of the trendline, while denying Bush the same method.
This time, in talking to Bloomberg TV, Pelosi didn’t even get the statistic technically correct. So we rate it False.
When Obama said unemployment wouldn't reach 8% if we passed the stimulus, I didn't know he meant that we would stay above that number. I guess I misunderstood.
Location: planet octupulous is nearing earths atmosphere
13,621 posts, read 12,735,309 times
Reputation: 20050
Quote:
Originally Posted by pghquest
No need to be scared, things will be fine.. we'll just limp along until the government gets their act together and stops hindering the private sector..
thats not what the doctor said?? the doc said after limping for four or five years all limbs will have to be amputated..
when has the gov ever got their act together???
people must face the facts, high energy cost and high unemployment is the new norm, but thats just the tip of a very large ice berg of the things to come...
Lets compare numbers...huum, seesm it is so important to pick time horizons.....why dont'we look at something on a yearly basis..I would bet a better indicator, such as unemployment each yr would tell us more about the Economy, peoples QOL, etc. than job growth..since surely it is easy to stack the deck depending on a starting point...as illustrated below...
The Truth-O-Meter Says: "In the first year of the Obama administration, more jobs were created in the private sector than in the eight years of the Bush administration."
Nancy Pelosi on Monday, May 16th, 2011 in an interview with Bloomberg television
Nancy Pelosi says more jobs created in Obama's first year than eight years of George W. Bush
Share this story:
House Minority Leader Nancy Pelosi resurrected a talking point about job growth under President Barack Obama in a Bloomberg television interview. We checked her math.
During a May 16, 2011, interview with Bloomberg television, House Minority Leader Nancy Pelosi, D-Calif., praised President Barack Obama’s record on jobs while taking a shot at former President George W. Bush.
"We got in this situation where we had tax cuts for the wealthiest people in our country, which did not create jobs," she said. "In the first year of the Obama administration, more jobs were created in the private-sector than in the eight years of the Bush administration, with all of the tax cuts that President Bush had."
According to the Bureau of Labor Statistics, the economy shed almost 4.2 million private-sector jobs during the first year of the Obama administration -- January 2009 through January 2010.
Meanwhile, during eight years under Bush, the economy gained a net 188,000 private sector jobs.
So while job growth under Bush was anemic by historical standards, it was still better than the 4.2 million jobs lost under Obama. That means Pelosi was wrong.
A Pelosi spokesman, Nadeam Elshami, told PolitiFact that Pelosi simply misstated a talking point that she’d used many times before. In one variation provided by her office, Pelosi sent out a news release that said in part, "America has had 12 consecutive months of private-sector job gains totaling 1.5 million. That is more private-sector jobs than were added in the eight years of the Bush Administration."
Pelosi was right that the economy created 847,000 jobs during the period she indicated. But she would have been incorrect if she’d cited total employment rather than private-sector employment. And she chose her starting and ending dates in a way that was highly favorable to Obama and unfavorable to Bush. Pelosi essentially started counting from the low point for jobs and only counted the upward part of the trendline, while denying Bush the same method.
This time, in talking to Bloomberg TV, Pelosi didn’t even get the statistic technically correct. So we rate it False.
So you think a speech, created the mortgage bubble? Wow, that Bush, he sure was powerful..
Overly simplistic way of looking at reality, or perhaps the defense. This wasn't just a mortgage issue, it was a credit lending issue that had mortgage problem all over it. Here's a clue: 1929, 1988, 2007.
In speeches, Bush was found regularly celebrating interest rate cuts, and how it would boost the economy. But trust me, it wasn't speeches that brought the economy down. A major part of the problem was those interest rate cuts to prop up the economy. Never mind the grand idea the administration came up with, allowing some of the largest financial institutions (yes, they all collapsed) to leverage with well over 30:1 ratio. Now tell me, who was supporting it? Is it not insanity to support such ideas? Does it take only a genius to recognize a problem with relaxing such rules to allow banks to lend more than $30 for each dollar they show compared to $10-$12? When you allow banks to do that, what results do you expect?
When Obama said unemployment wouldn't reach 8% if we passed the stimulus, I didn't know he meant that we would stay above that number. I guess I misunderstood.
And Heritage Foundation had analyzed that with Bush tax cuts, the country would have paid off its debt by 2010. That with the policies the conservatives pushed for, the economy would be in GREAT shape, with balanced budget and all.
While at it, you should mention that too?
Quote:
Originally Posted by Secchamps98
Pelosi was right that the economy created 847,000 jobs during the period she indicated. But she would have been incorrect if she’d cited total employment rather than private-sector employment. And she chose her starting and ending dates in a way that was highly favorable to Obama and unfavorable to Bush. Pelosi essentially started counting from the low point for jobs and only counted the upward part of the trendline, while denying Bush the same method.
I think Nancy Pelosi’s fault was that she assumed that it is only private sector job growth that should count whereas the conservatives would rather make sure the growth in government sector jobs should be included for bragging rights. And right along the lines is the title of this thread. It mentions 58K jobs added. Here is the reality, along the lines:
Private Sector Jobs Added in May 2011: 83K
Total Non Farm Jobs Added in May 2011: 58K
Based on the two numbers…
Government Jobs Removed in May 2011: 25K
And this, from people who complain about growth in government, that they are first in line to celebrate government sector job growth. Why am I not surprised?
The economy is entering into a new recession it appears.
I'm going to cut down on spending until things get better, I have no choice.
New recession or the old one that never rally ended despite all th Dem's praises to have UE at 9%. Most elections are about economics the Dems have another year to pray and sacrifice chickens to hope it turns around
New recession or the old one that never rally ended despite all th Dem's praises to have UE at 9%. Most elections are about economics the Dems have another year to pray and sacrifice chickens to hope it turns around
They'll continue to carpet bomb with lies and propoganda as evidenced on this thread.
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"In the first year of the Obama administration, more jobs were created in the private sector than in the eight years of the Bush administration."
Share this story:
House Minority Leader Nancy Pelosi resurrected a talking point about job growth under President Barack Obama in a Bloomberg television interview. We checked her math.
