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Me thinks it is you who is not paying attention. $1.7 trillion in business capital is sitting on the sidelines as a direct result of Obama's policies. He is s job killer.
How many jobs were added between Jan 20, 2001 and Jan 19, 2009? Let us start this discussion there. How many should have been added, considering the population growth? Where was that business capital then?
Obama wasn't in charge when the path to the current recession was laid, much less when it began.
In September of 1983 the economy added 1.1 million jobs. That one month gain was the largest in history since the BLS began recording net job gains in the 1930s. It still goes unmatched to this day. Beginning with the economic recovery at the end of 1982 to the last month of Reagan's presidency, the economy added 18.3 million jobs. Furthermore between January of 1983 and January of 1985 there was a 3.1% drop in the unemployment rate, the fastest two year drop in history.
The year 1984 saw economic growth of 7.2%, the largest gain since the 1950s, and a number that has gone unmatched to this day. During the 90s economic boom, the highest growth rate was only 4.8%.
A faster drop in unemployment happened in the early 1920's. Unemployment went from just over 11 in 1921 to under 4 in 1923.
How many jobs were added between Jan 20, 2001 and Jan 19, 2009? Let us start this discussion there. How many should have been added, considering the population growth? Where was that business capital then?
Obama wasn't in charge when the path to the current recession was laid, much less when it began.
He clearly has made matters worse. The economy is cyclical, at a point where we should be coming out of it (a V shape recovery) we are dragging along the nadir (a L shaped recovery) with a real risk of a double dip. This is a direct result of his policies. Again corporate money is on the side line because they know he is anti business and they don't know what shoe will drop next. Congress is talking about passing tax and cap in a lame duck session, more cost for business.
"The Business Roundtable, a group whose members include chief executives of the largest U.S. companies, found in a fourth-quarter survey that 68% of its members expected sales to rise in the first half of this year. But just 19% said they expected to boost U.S. employment in the period.
John Castellani, president of the Business Roundtable, said the reluctance to hire in part reflected uncertainty about the staying power of the economic rebound -- a common refrain of executives.
"Demand is still pretty weak in the U.S.," he said.
What's more, companies have complained that they face serious uncertainty over the future of employee-benefit costs given the Obama administration's far-reaching overhaul of healthcare."
He clearly has made matters worse. The economy is cyclical, at a point where we should be coming out of it (a V shape recovery) we are dragging along the nadir (a L shaped recovery) with a real risk of a double dip. This is a direct result of his policies. Again corporate money is on the side line because they know he is anti business and they don't know what shoe will drop next. Congress is talking about passing tax and cap in a lame duck session, more cost for business.
You're too fixated on a person (who took office 14 months after the recession began, when typically a recession would be over BTW), instead of policies. Stop being a one trick pony and start talking about policies, how they helped or didn't.
You could start with explaining the first graph I posted in this thread. Why did it take four years for the job market to get back to its previous peak when it was one of the mildest of the recession (and officially over in 6-7 months after it started)? After you have done that, explain why you expected a faster recovery for a recession as big as it has ever been since the Great Depression.
You're too fixated on a person (who took office 14 months after the recession began, when typically a recession would be over BTW), instead of policies. Stop being a one trick pony and start talking about policies, how they helped or didn't.
You could start with explaining the first graph I posted in this thread. Why did it take four years for the job market to get back to its previous peak when it was one of the mildest of the recession (and officially over in 6-7 months after it started)? After you have done that, explain why you expected a faster recovery for a recession as big as it has ever been since the Great Depression.
I will wait.
I will tell you how his policies are killing jobs. Folks who create jobs will not invest in hiring until they know what their costs will be. Already they know the cost of health care will be very high. Congress is talking about passing cap and tax in the lame duck session, more costs for business. Obama is also regulatory happy. Until this administration signals to the business community that he understands that they create jobs, the $1.7 trillion will continue to sit it out.
In addition tax policy is killing job creation, we have among the highest corporate taxes in the world, we are not competitive. Additionally taxing the wealthy is also a job killer. If capital is going to the government, it can't go to private job creation.
By any measure this is a very weak recovery, there are no technicals that point to any substantial job creation. There is much talk about "the new normal" persistent high unemployment.
Please point out to us the policies promoted by Obama that are pro private sector growth.
I will wait.
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