Response to Iwasthere (Original post)
Fri Sep 14, 2012, 05:05 PM
progree (1,821 posts)
8. Lots of reasons - national debt WAY UP, jobs. Pls read comments on news.yahoo.com articles on the
economy. People aren't aware that Repubs are blocking Obama jobs bills, they think Obama / Dem. Senate is blocking their bills.
Through August, the Obama record on payroll jobs is still in negative territory: -261,000. The unemployment rate has been above 8% during his entire administration (43 months) excepting his first partial month of January 2009.
The national debt during the Bush II administration increased from 5,728 B$ to 10,627 B$, an increase of 4,899 B$. The debt during the Obama administration as of today has increased from 10,627 B$ to 16,046 B$, an increase of 5,419 B$ -- a larger dollar increase in 3 1/2 years than in Bush's 8 years.
It doesn't seem to occur to them that Mr. Wizard's (Romney's) numbers don't add up. All they "know" is that Romney was highly successful in business while obviously (to them), "Obuhmuh" is not.
Edit #1 523 PM ET - Today's national debt is 16,046 B$, not 16,0461 B$
I spend about half a day a week responding to comments on news articles on the economy at news.yahoo.com. Virtually all the comments are on Obama's crappy (to them) economic record. I put out the facts like 4.6 million private sector jobs created in the last 30 months. For example:
It took 8 years for Bush to ruin the growing economy that Clinton handed him (and turn a budget surplus into a near doubling of the national debt (1.86-fold increase, thanks Bush), and you CONNEDservatives are complaining that Obama hasn't completely reversed 8 years of Republican economic ruination in 3 1/2 years?
Do you really want to hand the keys back to the people who drove the economy off the cliff? When Bush left office, he handed Obama an economy that had already shed 4.3 million jobs in Bush's last 10 months, and the GDP was contracting at a 8.9% annual rate (Q4 2008). At the end of the Bush presidency, the unemployment rate was 3.5 percentage points higher than when he began his presidency.
4.6 million payroll jobs have been created in the last 30 months. Bush only created 1.1 million payroll jobs in his entire 8 year presidency - ironically by creating 1.8 million government jobs and destroying 0.7 million private sector jobs
Ruinous Republican policies also drove the U.S. stock market (S&P 500) down 37% during those 8 Bush years -- from 1343 to 850. As an investor, I'd rather go with Obama -- its up to 1466 as of Friday 9/14 close, up 72% since he took office. (Google: Historical Prices - Yahoo Finance S&P 500 ). Clearly the business and investor community has a lot more confidence in Obama than it did in Bush.
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Lots of reasons - national debt WAY UP, jobs. Pls read comments on news.yahoo.com articles on the
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