Thanks to the Daily Kos.
Questions:
- What was the average monthly private sector job growth in 2008, the final year of the Bush presidency, and what has it been so far in 2010?
- What was the Federal deficit for the last fiscal year of the Bush presidency, and what was it for the first full fiscal year of the Obama presidency?
- What was the stock market at on the last day of the Bush presidency? What is it at today?
- Which party's candidate for speaker will campaign this weekend with a Nazi reenactor who dressed up in a SS uniform?
Answers:
- In 2008, we lost an average of 317,250 private sector jobs per month. In 2010, we have gained an average of 95,888 private sector jobs per month. (Source) That's a difference of nearly five million jobs between Bush's last year in office and President Obama's second year.
- In FY2009, which began on September 1, 2008 and represents the Bush Administration's final budget, the budget deficit was $1.416 trillion. In FY2010, the first budget of the Obama Administration, the budget deficit was $1.291 trillion, a decline of $125 billion. (Source) Yes, that means President Obama has cut the deficit -- there's a long way to go, but we're in better shape now than we were under Bush and the GOP.
- On Bush's final day in office, the Dow, NASDAQ, and S&P 500 closed at 7,949, 1,440, and 805, respectively. Today, as of 10:15AM Pacific, they are at 11,108, 2,512, and 1,183. That means since President Obama took office, the Dow, NASDAQ, and S&P 500 have increased 40%, 74%, and 47%, respectively.
- The Republican Party, whose candidate for speaker, John Boehner, will campaign with Nazi re-enactor Rich Iott this weekend. If you need an explanation why this is offensive, you are a lost cause.
4 comments:
Unfortunately for us, this kind of information doesn't reach the kind of mainstream media that people will see in large numbers, i.e. cable news. If only this was more widespread, we might not be as screwed as it seems now that we will be. Again.
The Daily Kos isn't exactly reaching the masses out there voting in Ohio. But, let's face it, the stock market numbers are not of much interest to people looking for a job. (It's sort of ironic anyway for the Daily Kos to be celebrating Wall Street numbers.) I agree with the general point, but it's hard to argue that the economy is good. And people vote out of frustration and blame the party that is in power.
If you have 9.6% unemployment on your watch, you are going to lose, regardless of whether it's your fault or not. That's why the GOP lost in 2006 and 2008--not because of some "desire for change" but because the economy was bad.
Elections do not provide a "mandate." A lot of people don't even know what they are voting for except in a general sense that is largely shaped by advertising and sound bites. I can talk until I'm blue in the face about why the Democrats are not to blame, but it won't matter.
Plus, those figures are a bit misleading. 2008 was at the depth of the financial meltdown; in 2010 we are supposedly in a recovery. So you are comparing apples and oranges. And, almost anyone would that the number of jobs being added isn't very great in the context of how many were lost. I agree it's not Obama's fault and it would probably have been worse without the stimulus. But, that's a hard argument to make even without the GOP propaganda--it's difficult to prove a negative.
My guess (and my fear in a way) is that things will get better simply because business prefers gridlock to change that imposes any kind of burden. It they think they will get what they want, they will probably invest. So, I'm afraid the GOP will benefit from the change in the business cycle.
Here's another point. I don't know what the Daily Kos has been saying but there was a of complaining on the left about Obama. I'm wondering if this complaining didn't keep down the vote for liberals. It's pretty stupid now to praise Obama after weeks of exprssing disappointment.
D'oh! I should have looked at this BEFORE voting!!!! ;-)
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