Total Employed Decrease by 159,000 in July

[william the wie]

This thread (and perhaps title) needs to be revised because the number keeps being revised for even greater job losses. This is the worst case of badly spun news so far for this administration.

 

[edthecynic]

At this same point in St Ronnie's first term UE was 9.8% and rising, so Obama is still less of an epic failure than Reagan.

The difference was that Reagan had a clue what would work to stimulate the private sector. Obama either hasn't figured it out or he refuses to create policies that will spur private sector growth. He appears to believe that government is a legitimate profitable business.

At some point in the past, I put ol' ed the cynic on iggy. I didn't notice who made the comment until I started the response.

Comparing the the Obama recovery to the Reagan Recovery is not appropriate. Comparing the the Obama Recovery to the Carter Recovery is appropriate.

Comparing whoever follows Obama to the Reagan Recovery will be appropriate.

There needs to be abject loss of hope and rock bottom desperation rampant in the populace to allow a valid comparrison between the situation in the country at the beginning of the Reagan Administration and any other situation.

A few more years of underperformance in the economy, lessening respect abroad, selective enforcement of law and utter impotence in dealing with any critical issue should do it.

The country divides roughly into two groups: Those who remember how the Carter years felt and those who are about to find out.

CON$ have been brainwashed to equate Obama to Carter and they are programmed to close themselves off to anyone who tries to deprogram them.

The highest UE was under Carter was 7.8%, the rate Ford passed to him. The recession during Carter's term was the SHORTEST in US history. The Reagan RECESSION was the worst recession since the Great Depression until the current Bush Depression. It took ST Ronnie until Aug 1983 to get his 10.8% peak UE down to 9.5%, a full year longer than Obama, and he did it by rolling back 1/3 of his tax cuts that caused the Reagan Recession, keeping Carter appointee Volker at the Fed, raising taxes 8 times in 6 years, and spending like a Keynesian Democrat.

 

[topspin]

Bullshit code democrats loved Carter.

 

[lizzie]

Reagan was by no means perfect, but I lived through the Carter years, and my memories are of high interest rates, gasoline shortages, and the Iran hostage crisis. Reagan policies helped get us out of the stagnation we were in during the Carter years.

Most of the effects of these policies were favorable, even if somewhat disappointing compared to what the administration predicted. Economic growth increased from a 2.8 percent annual rate in the Carter administration, but this is misleading because the growth of the working-age population was much slower in the Reagan years. Real GDP per working-age adult, which had increased at only a 0.8 annual rate during the Carter administration, increased at a 1.8 percent rate during the Reagan administration. The increase in productivity growth was even higher: output per hour in the business sector, which had been roughly constant in the Carter years, increased at a 1.4 percent rate in the Reagan years. Productivity in the manufacturing sector increased at a 3.8 percent annual rate, a record for peacetime.
Most other economic conditions also improved. The unemployment rate declined from 7.0 percent in 1980 to 5.4 percent in 1988. The inflation rate declined from 10.4 percent in 1980 to 4.2 percent in 1988. The combination of conditions proved that there is no long-run trade-off between the unemployment rate and the inflation rate (see Phillips Curve). Other conditions were more mixed. The rate of new business formation increased sharply, but the rate of bank failures was the highest since the thirties. Real interest rates increased sharply, but inflation-adjusted prices of common stocks more than doubled.
The U.S. economy experienced substantial turbulence during the Reagan years despite favorable general economic conditions. This was the "creative destruction" that is characteristic of a healthy economy. At the end of the Reagan administration, the U.S. economy had experienced the longest peacetime expansion ever. The "stagflation" and "malaise" that plagued the U.S. economy from 1973 through 1980 were transformed by the Reagan economic program into a sustained period of higher growth and lower inflation.

http://www.econlib.org/library/Enc1/Reaganomics.html

 

[code1211]

Bullshit code democrats loved Carter.

It doesn't matter how it "felt" to any particular individual during the Carter years. If you liked Carter's policies and results, you're going to love the remainder of the Big 0's term.

If the Carter years made you feel like maybe there might be something better that was not being found by those policies, you're going to feel that with the Big 0.

Mrs. Code loves brussel sprouts. I sometimes suspect this is just to piss me off. Different tastes produce different preferances.

I prefer robust economic times with plentiful opportunity and optimistic people investing in the future and hiring people. The Big 0 apparently doesn't have a taste for this kind of thing.

I wonder if he like brussel sprouts...

 

[KissMy]

The only recovery is in the Government sector at the expense of the private sector.

Workforce Since Obama became President

Workforce Since Democrats took over Congress

 

[edthecynic]

The only recovery is in the Government sector at the expense of the private sector.

Again we have an example of the complete dishonesty of CON$ervative sources. Right wing GOP think tanks pay people big bucks to create deliberately misleading dishonest charts like this.

You can't honestly compare ALL private sector jobs to government jobs because government jobs are mostly high skill jobs, and private sector jobs cover all skill levels. How many garbage collectors or ditch diggers or crop pickers work for the government??? Obviously these low paying jobs will bring the private sector average down, which, of course, is exactly why CON$ use an average of all jobs.

The only honest comparison, which is why CON$ will never do this, would be to take the SAME job and compare the salary of gov workers to private workers.

For example, below are charts for median income and salary range for software engineers.
Quite a different story!!!!!!!!!

 

[Charles_Main]

Obama has Increased the Size of Government by 25%. it is now almost 26% of GPD, and set to Grow and GROW and GROW. The Decline is not going to end soon. This so called Recovery is Completely False as soon as the cash runs out the Shrinking will begin again. Polices are the problem. There are already Big Problems over Health Care. Cost are set to Jack UP. Many Employers are going to be forced to pay the Rather small Penalty and Drop all their Coverage, Rather than Pay to Cover everyone when Cost just Went Way up again. As a direct result of this Failure of a Health Care bill.

Every Bill the Dems pass they have to Attach some Cash for States Medicare Budgets. There is an Hungry Bottomless Money Pit in SS sucking Away. Only ROBUST growth Gives us a prayer of ever Digging out of this Whole.

As I said Before. We were in a whole when Obama Took over. The Real world Result of Obama Policy is that hole is Much Bigger, and Deeper, than it was before, and currently still getting deeper with no end in site.

I know you think us on the right are just heartless when we say these Socialist Like entitlements Like SS,MC,Health Care,ETC are noble Ideas that are not economically sustainable. You could not sustain the Sucking of the hole if you took every penny the top 2% make every year, and you would not have an economy or jobs to live on if you did that anyways. not Enough people paying, to many mouths to feed. Period.

 

[uscitizen]

The only recovery is in the Government sector at the expense of the private sector.

Workforce Since Obama became President

Workforce Since Democrats took over Congress

Umm that first chart is during the Bush years.
Most of the jobs added during the bush years were govt spending supported jobs.

 

[lizzie]

Umm that first chart is during the Bush years.
Most of the jobs added during the bush years were govt spending supported jobs.

You're right, but currently, and since Jan '09, the government sector is growing at a proportionately higher rate than private sector jobs are falling.

Private Sector Losses vs. Public Sector Gains
June 25, 2010 1:23 PM
By Veronique de Rugy http://www.mercatus.org/PeopleDetails.aspx?id=17018

It’s been a while since I reported on private-sector and public-sector job growth since the passage of the stimulus bill. Here is a chart, based on data from the Bureau of Labor Statistics, that speaks for itself.
　
Since the beginning of the recession (roughly January 2008), some 7.9 million jobs were lost in the private sector while 590,000 jobs were gained in the public one. And since the passage of the stimulus bill (February 2009), over 2.6 million private jobs were lost, but the government workforce grew by 400,000.

The stimulus bill is not stimulating private sector growth, which is badly needed for recovery.