Quite frequently, the Administration has presented charts like the following, with the impressive long string of bars showing positive job growth. Democrats are obviously right that the red columns, showing added jobs, are better than the jobs lost in blue.
Still the graph makes things look rosier than they actually are. It misses out that there are now about 8 million more working age Americans than when Obama became president. With a growing population, more jobs were needed just to keep the economy standing in place.
Grover G. Norquist
Since the recovery started in July , the working age population has grown by , people on average each month. Normally about 60 percent of the working age population is working. Thus, it would have been necessary to add about , jobs each month just to keep the share of the working age population employed from falling.
That means that a minimum of a little over 4. In fact, only 2. Obama doesn't accept responsibility for job losses up through February , a year after the stimulus was enacted, but even then the total number of jobs created is 4 million and the number necessary to keep the share of the working age population employed from falling is 3.
But whatever time period that Obama wants to point to, job growth has been extremely sluggish. The results are depressing, but not too surprising. Instead of 22 straight months of growth, the current string is just one month.
The next two figures show how incredibly weak job growth has been for Obama by comparing his recovery to all the other recoveries since Because the size of the job market has changed so much over the last 40 years, job growth is shown as a percent of the number of people employed.
A couple hundred thousand jobs being created in a month 40 years ago is a lot more impressive when you only had two-thirds as many people working. Lott Jr.
During the presidential campaign, Barack Obama promised "a net spending cut" to make government smaller in order to reduce the deficit. But this huge increase in government spending and debt, and the resulting prospect of higher taxes, will make America a poorer country. Are Americans happier because the government has determined where this money should be spent? Obama's economic policies have raised unemployment, slowed economic growth, dramatically raised the national debt, squandered taxpayer money through poor investments, and damaged the housing market.
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The book explains why Obama's policies on spending, taxes, and regulation have all worked to harm the recovery, increase unemployment, and depress housing prices. Arguing that the policies of the Obama administration have created widespread economic chaos, Debacle is a bleak look at American finance from Grover Norquist. John R. Lott has published over articles in academic journals.
He is a contributor and a weekly columnist for FoxNews. Request permission to reuse content from this site. Undetected location.