- Oct 12, 2009
- 58,613
- 10,629
- 2,030
The private sector created those jobs because of government legislation. The unemployment benefits that were extended for the millions of people allowed them to spend money they wouldn't have otherwise. The tax cut for the middle class also boosted consumer spending. A boost in consumer spending created economic growth.
Um the actual rate of the recovery isn't slow. The recession was simply the worst since the Great Depression. That's why it took so long. Since the passing of the stimulus, at least 150,000 private jobs have been create EVERY MONTH.
The auto bail out worked whether you like it or not.
No the private sector created jobs despite government interference. As always, the private sector sees a need or profit potential and reacts. Unemployment benefits were stolen by countless thousands who worked other nonreported jobs. You saw them and I saw them. The tax cut amounted to less than 2% of income, hardly a major source of revenue for families.
Please cite your source for this not being a slow recovery.
The auto bailout failed and bankruptcy occurred. Restructured companies that were partially owned by the government emerged. The government lost money on that too. Why? Because politically they were unwilling to wait until stock prices went up enough to recoup.