Using that same formula, Under George W. Bush, 3 million jobs have been created since he was sworn in 2001. It's called the "Household Survey" not the "Non-Farm Survey" the Dems site every week. The "Household Survey" shows an increase of almost 3 million workers added to the payrolls since January 20th, 2001. When George W. Bush plays this hand is anyone's guess, but that is a hand he has in his arsenal and I'm sure he will know when to play it :-)
No mass soup lines or homeless or starvation or any such. God knows we'd hear about that if there were a shred of evidence for it.
Not bad for coming off one of the biggest bubbles in human history.
But this is where I worry for 2008. I am basically a pessimist on the economy - we may have created enough debt and mortgage paper and had enough Yen and Yuan buying enough of Uncle Sam's bonds to get by so far, but I am convinced that there will be hell to pay for this paper profligacy sooner or later.
My biggest fear is the economy goes to hell in 2007, and Hitlary goes to the White House in 2008.
For now, Bush is dealing a strong hand. But it's a bit of the luck of the draw whether our party's next candidate will be as strong. And if they are bucking an economic headwin, it could get rough.