The Republican recession vs. the Democratic recovery (updated)

[hfojvt]

Some people may still not like the word 'recovery' with the labor force participation rate still down at 64% and unemployment still over 8% (to say nothing of U6).

However, I still think it is important to point out that the economy took a wrong turn when Bush was President, when Republican policies were steering the ship, and that although Bush trashed the economy when he left the White House, that things have been improving under Democratic policies, particularly the stimulus bill of 2009.

So I show job gains or losses by quarter of a year, as I did last June http://journals.democraticunderground.com/hfojvt/155

2008
1st (93,000)
2nd (573,000)
3rd (1,002,000)
4th (1,895,000)
total (with Bush as President) (3,563,000)

2009
1st (2,258,000) note - Obama was sworn in as President and the stimulus passed in the middle of this quarter
2nd (1,433,000)
total (in Obama's first five months in office (3,691,000)

3rd (780,000)
4th (310,000)
total of the last half year (1,090,000)

That the economy was no longer losing 1,000,000+ jobs every quarter is a very positive thing. The economy was in free fall and the stimulus was like a parachute. When you open a parachute, you keep falling, but at a much slower rate so that the landing does not kill you.

2010
1st +118,000
2nd +543,000
3rd (137,000)
4th +385,000
total 2010 + 909,000

2011
1st + 497,000
2nd + 290,000
3rd + 441,000
4th + 412,000
total 2011 + 1,640,000


As these Republican Presidential candidates run around promoting a return to Reagan/Bush policies as a cure for what ails the economy, they should constantly be reminded of 2008, that the economy went down on Bush's watch. That it was Bush's leadership and Republican pokicies that created the mess we are still digging out of.

[hfojvt]

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