Our beloved supreme ruler is jumping from swing state to swing state on his America’s Recovering Elect Me Tour beating his chest as he proclaims the private sector has added more than 4.5 million jobs over the last 30 months. Let’s hear it for the supreme job creator…
Hip, hip, no way!
As usual he’s only telling part of the story. He mentions the “jobs created” number but conveniently skips the inconvenient “jobs lost” number. Sure, the private sector created 4.5 million jobs over 30 months (a pathetic monthly average, by the way) but ultimately it lost more than that. Obama has a net loss of jobs of over 300,000 during his presidential term according to data from the Bureau of Labor Statistics.
So, how bad is it?
Unemployment rose in July making it 42 consecutive months over 8%. Also, this recovery, to use the term loosely, has produced the slowest economic growth of any recovery.
“It is the slowest recovery ever,” said Veronique de Rugy, senior fellow at the Mercatus Center, who put together a new study. “I would claim that there’s really no recovery at all.”
Yep. And the last twelve months have seen the slowest wage growth ever, too.
It’s that bad?
It’s pimple-butt bad. Obama’s job numbers, as de Rugy points out, are far worse than Kennedy (3.6 million), Ford (2.1 million) and Carter (10.3 million) who, as Presidents, served for similar or shorter terms than our venerable supreme ruler. In fact, he ranks dead last in jobs, the bottom of the barrel, for all presidents since 1945.
There’s more. He says the private sector is doing fine.
Does he? Well, clearly he needs to put the fruit back in the cake.
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