Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Don't forget he came into office in a very bad recession and he's been in office for 8 years. Jobs had no where else to go but up. When you start at the bottom, it's hard not to have nice job numbers.
As Trump would say: Wrong.
We were on the brink of a Great Depression 2. Jobs were headed into no man's land, about to send the country in a tailspin of bread lines and homelessness the likes of which the current generation has never even thought of.
All that came to a halt, turned around, and started the climb upward...with INCREASING WAGES, as well. It was slow, but steady. All that in the face of almost TOTAL OBSTRUCTION by Republicans. Imagine how much more could have been done if they had worked with the opposing party for the good of the country, to pull us out of the recession. More infrastructure projects, for example.
But the DEMOCRATS did this, almost singlehandedly, while the Republicans criticized, complained, and even shut down the government in hissy fits.
The legacy is there. It's permanent. It's part of history, now. And the Republicans cannot claim credit for even one of those 16 Million jobs. THEIR job was, as lead Republican Mitch McConnell put it, to keep Obama from being re-elected.
It was shameful, the way the Republicans acted. They actually preferred that millions go without paychecks, than doing their duty to get the country back on track. All the Republicans talked about was cutting taxes for the rich and cutting benefits for the millions who were on the edge of disaster.
You've seen posts here, I'm sure, of conservatives complaining about people on food stamps buying sodas in the grocery stores. Let me say that again: Recovering from the worst recession in our nation's history, and conservatives have the GALL to criticize NOT the deregulation that caused the recession, but the food stamp purchases of poor people. THAT is the Republican legacy of the last 8 years.
Don't forget he came into office in a very bad recession and he's been in office for 8 years. Jobs had no where else to go but up. When you start at the bottom, it's hard not to have nice job numbers.
If you think we were at the bottom in 2008 you're not at all familiar with the Great Depression.
Article stating that if there’s one economic accomplishment you can’t take away from Obama, who took office during the darkest days of the financial crisis, it is that a ton of jobs were added to the US economy during his time in office.
The number to beat: 15.8 million in 7 years. Since the beginning of 2010, 15.8 million private sector jobs have been added to the economy. (The December 2016 jobs report also pushed the wage growth rate to the highest level since 2009.)
Need 16 million new private sector jobs by 2023. That's 2.29 Million jobs per year.
Ready, set, go. (Don't forget to also push the wage growth rate to the highest level since 2016.)
What specific thing did Obama do to help the economy?
Not to exaggerate Obama's responsibility in any direction, but the low labor participation rate and the large increase in the public debt does not show a stunning success. There are negative aspect that go along with this including the wealth gap. Its hard to see how Obama was the champion of the down trodden. He largely did nothing good or harmful financially.
I would however say there are long term negative consequences to no prosecuting financial fraud. So in that case he is wholly to blame.
If you like what you see today, then thank your economic algorithm for it. Obama had little to do with it either way.
Automatic stabilizers offset fluctuations in economic activity without direct intervention by policymakers. When incomes are high, tax liabilities rise and eligibility for government benefits falls, without any change in the tax code or other legislation. Conversely, when incomes slip, tax liabilities drop and more families become eligible for government transfer programs, such as food stamps and unemployment insurance that help buttress their income.
...
The Congressional Budget Office estimates that through increased transfer payments and reduced taxes, automatic stabilizers provided significant economic stimulus during and in the aftermath of the Great Recession of 2007-2009, and thereby helped strengthen economic activity. That stimulus amounted to more than $300 billion annually in 2009 through 2012, an amount equal to or exceeding 2.0 percent of potential GDP in each year. (Potential GDP measures the maximum sustainable output of the economy.)
Sadly this will not stabilize the partisan babbling.
From the linked article:
The final jobs report of the Obama presidency, released Friday, shows that the number of Americans not in the labor force has increased by 14,573,000 (18.09 percent) since January 2009, when Obama took office, continuing a long-term trend that began well before Obama was sworn in.
My prediction is the Not in the Labor Force number will grow no matter which Trump polices are implemented or how strong the economy is.
Great legacy - if you want to destroy the Country!
The less $1,000 in savings is just spin from a S&L lobbyist. It is talking literally about Savings Accounts. I have less than $200 in my savings account, but have substantially more in savings. Saving Accounts are one of the least attractive places to park money.
From the linked article:
The final jobs report of the Obama presidency, released Friday, shows that the number of Americans not in the labor force has increased by 14,573,000 (18.09 percent) since January 2009, when Obama took office, continuing a long-term trend that began well before Obama was sworn in.
My prediction is the Not in the Labor Force number will grow no matter which Trump polices are implemented or how strong the economy is.
Here are the numbers from the BLS.
Part time for economic reasons
Jan 2009 8.0 million
Dec 2016 5.6 million
Part time for non-economic reasons (ie want to work part time)
Jan 2009 18.8 million
Dec 2016 21.2 million
Total Employed
Jan 2009 142.1 million
Dec 2016 152.1 million
The less $1,000 in savings is just spin from a S&L lobbyist. It is talking literally about Savings Accounts. I have less than $200 in my savings account, but have substantially more in savings. Saving Accounts are one of the least attractive places to park money.
Here is my reality: In about one or two weeks I will start my eighth year as a temporary worker for the same company. I can be laid off for just a few months or up to six months. I am one of those that choose to work and, yes, I make good money. However; I would take the full time position with benefits and vacation time/sick leave if it was ever offered. I also am not alone; I work with many younger workers that need those benefits and security - they have families to raise.
Right now our Country has an abundance of workers. That includes the many that have immigrated into our Country. Automation is also knocking at the door and will continue to replace even more workers. There is no need for American business to treat their workers better - we are the 'Replaceables'. Many on the left scream for higher minimum wages; but then give the employers more cheap labor. If employers again had to compete for workers; they would offer better compensation packages. Of course some will turn to automation even quicker. It is hard to say how all this will play out in the immediate future, Trump has at least addressed the outsourcing and immigration issues which were ignored by the left.
Here is my reality: In about one or two weeks I will start my eighth year as a temporary worker for the same company. I can be laid off for just a few months or up to six months. I am one of those that choose to work and, yes, I make good money. However; I would take the full time position with benefits and vacation time/sick leave if it was ever offered. I also am not alone; I work with many younger workers that need those benefits and security - they have families to raise.
Right now our Country has an abundance of workers. That includes the many that have immigrated into our Country. Automation is also knocking at the door and will continue to replace even more workers. There is no need for American business to treat their workers better - we are the 'Replaceables'. Many on the left scream for higher minimum wages; but then give the employers more cheap labor. If employers again had to compete for workers; they would offer better compensation packages. Of course some will turn to automation even quicker. It is hard to say how all this will play out in the immediate future, Trump has at least addressed the outsourcing and immigration issues which were ignored by the left.
I think many people work as at will employees and therefore can be let go at any time. Layoffs however are running at 40 year lows (when the population was significantly smaller) and have been for at least a year.
The number of people working part time who want to work full time is off significantly from the recent economic bottom. There were 9.2 million in that category in 2010. Now there are 5.5 million. The lowest that number has been in the last 30 years is 3.1 million in 2000.
I work for a corporation that hires people worldwide for what I do. When they decide to hire, which they are doing, they also decide which country they will hire in. If competing for US workers significantly increases costs they can easily hire elsewhere. I haven't seen anything that Trump has proposed that will alter that behavior.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
