Stephanie
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lots of links in article at site
SNIP:
posted at 1:30 pm on December 8, 2011 by Ed Morrissey
Barack Obama declared in Kansas this week that his re-election bid would constitute a fight against income inequality. According to a fact check by the Washington Post’s Glenn Kessler, it’s also going to be a fight against hard facts and inconvenient truths. Obama lashed out at Republicans and George Bush for economic outcomes that have mainly come during his own stewardship of the economy:
Obama’s claim of the “slowest job growth,” in fact, includes the loss of jobs under his administration. The White House provided as evidence a report on a New York Times blog that was based on gross domestic product data through 2010, or the first two years of Obama’s administration.
The White House also cited a Center on American Progress report on job growth through 2007, which showed monthly job growth of 68,000 jobs during the Bush business cycle. But, since the recession ended, job growth has been even more anemic under Obama — just 40,500 jobs a month, according to the Bureau of Labor Statistics. … t seems odd to keep blaming poor job growth on the Bush tax cuts, especially because Obama himself pushed through a nearly $1 trillion stimulus and took other actions that have affected the economy, for better or worse.
It’s more than just odd — it’s asinine. The rate cuts took place in 2001 and 2003, and have remained in place ever since. If they damaged job creation, then we wouldn’t have seen the explosive job growth we did in 2004-2006, when the economy added over 6 million jobs. The loss of those jobs had nothing to do with the maintenance of existing tax rates, but in a financial crush caused by the collapse in housing prices which turned government-backed mortgage securities largely worthless, wiping out trillions in accumulated capital.
That’s hardly the only asinine assertion in Obama’s speech, though:
read the rest and comments..
Fact-checking the Kansas Declaration « Hot Air
SNIP:
posted at 1:30 pm on December 8, 2011 by Ed Morrissey
Barack Obama declared in Kansas this week that his re-election bid would constitute a fight against income inequality. According to a fact check by the Washington Post’s Glenn Kessler, it’s also going to be a fight against hard facts and inconvenient truths. Obama lashed out at Republicans and George Bush for economic outcomes that have mainly come during his own stewardship of the economy:
Obama’s claim of the “slowest job growth,” in fact, includes the loss of jobs under his administration. The White House provided as evidence a report on a New York Times blog that was based on gross domestic product data through 2010, or the first two years of Obama’s administration.
The White House also cited a Center on American Progress report on job growth through 2007, which showed monthly job growth of 68,000 jobs during the Bush business cycle. But, since the recession ended, job growth has been even more anemic under Obama — just 40,500 jobs a month, according to the Bureau of Labor Statistics. … t seems odd to keep blaming poor job growth on the Bush tax cuts, especially because Obama himself pushed through a nearly $1 trillion stimulus and took other actions that have affected the economy, for better or worse.
It’s more than just odd — it’s asinine. The rate cuts took place in 2001 and 2003, and have remained in place ever since. If they damaged job creation, then we wouldn’t have seen the explosive job growth we did in 2004-2006, when the economy added over 6 million jobs. The loss of those jobs had nothing to do with the maintenance of existing tax rates, but in a financial crush caused by the collapse in housing prices which turned government-backed mortgage securities largely worthless, wiping out trillions in accumulated capital.
That’s hardly the only asinine assertion in Obama’s speech, though:
read the rest and comments..
Fact-checking the Kansas Declaration « Hot Air
