Posted on 01/03/2006 8:29:33 AM PST by intruder alert
Bushs giant Right Wing Noise Machine (RWNM) loves to preach about the Bush economic miracle. In fact, the RWNMs current thinking is Bush doesnt spend enough time talking about his economic triumphs. If only he did, then everyone would fall in line and believe in the great Bush economic miracle. There is one problem with this argument: its a lie. Any way you look at the Bush economy, it comes up short. Today, I want to compare Bushs job creation record with other economic recoveries. As usual, Bush comes up way short.
The national Bureau of Economic Research has identified 8 recessions since May 1954. For comparison purposed, I only used 5 of these periods because they are longer than the current expansion. Next, I used the total nonfarm employment numbers from the Bureau of Labor Statistics (BLS). I measured the jobs created from the trough (lowest point) to the next identified highest economic point. (The NBER states a peak marks the end of an expansion and the beginning of a recession.) I compared the total number jobs created for the entire expansion as well as the total number of jobs created 49 months into the expansion (According to the NBER, the lowest point of the last trough was in November 2001, making December 2005 the 49th month of this expansion). Heres how the numbers (in millions) compare.
The expansion of 2/61 12/69 created 17,684 total jobs and 6,244 at 49 months.
The expansion of 3/75 7/80 created 13,183 total jobs and 12,831 at 49 months.
The expansion of 11/82 7/90 created 21,003 total jobs and 11,510 at 49 months.
The expansion of 3/91 3/01 created 23,969 total jobs and 8,266 at 49 months.
The current expansion which started in November 2001 has created a total of 3,410 jobs.
In other words, at 49 months into an expansion, Bushs job creation record is last. While we dont know when this expansion will end, the Bush economy would have to triple the total number of jobs created in order to get to 4th place on this list.
Whats going on here? The basic problem is some areas of the economy are creating jobs. The BLS tracks 13 different job sectors. 7 (a little over half) have created jobs since November 2001 natural resources/mining (37,000), construction (539,000), financial (550,000), professional services (238,000), education/health (2.1 million), leisure/hospitality (803,000) and governmental employees (1 million). Of all the jobs created three areas government, education/health account for 57% of job growth. Of the jobs created outside of education, health and governmental employees (2,167,000), construction, professional services and financial services account for about 60% of the jobs created. Real estate is obviously related to all of these areas. Construction is obviously related to real estate, as are financial services (mortgage lending etc ) and professional services (real estate agents, appraisers etc ) So, real estate, governmental employees and health/education jobs are doing just fine.
6 areas a little under half of the sectors the BLS tracks have had a net loss in number of jobs: manufacturing (-2,800,000), information (-565,000), trade/transport/utilities (-353), whole sales trade (-107), retail (-157), and transportation/warehousing (67,000). Manufacturing and information are obviously the two biggest areas of job losses. Some of the information service jobs are the result of natural attrition from Y2K. However, I somehow doubt that is the only reason for the losses. While there is no information regarding outsourcing losses (because the government does not keep any statistics on the subject), I fell safe in assuming outsourcing is a big factor involved in the losses.
In summation, sum people are doing well. They can find jobs and are probably financially somewhat secure. However, others have seen their jobs literally disappear overnight and are hurting to find new jobs that pay commensurate levels. These people are hurting from the current expansion. Of course, Bush and the RWNM has forgotten about them.
Re#99 LOL. True. I stand corrected. ;^)
Looks like the kitties have taken a New Years Resolution and are trying to cut down on troll meat this year...
Never fear. They'll fall off the wagon by Friday. The kitties just can't resist the sweet, sweet taste of troll meat!
In the last 15 years, the USA has created 42 million jobs, while EUROPE has created 40 THOUSAND new jobs....THIS is what OUR SIDE needs to scream.
Still unzotted?
IB4TZ
Semper Zot!
IB4TZ
Semper Zot!
You are a bleating fool, a curdled staggering mutant dwarf smeared richly with the effluvia and offal accompanying your alleged birth into this world. An insensate, blinking calf, meaningful to nobody, abandoned by the puke-drooling, giggling beasts who sired you and then killed themselves in recognition of what they had done.
I will never get over the embarrassment of belonging to the same species as you. You are a monster, an ogre, a malformity. I barf at the very thought of you. You have all the appeal of a paper cut. Lepers avoid you. You are vile, worthless, less than nothing. You are a weed, a fungus, the dregs of this earth. And did I mention you smell?
If you aren't an idiot, you made a world-class effort at simulating one. Try to edit your writing of unnecessary material before attempting to impress us with your insight. The evidence that you are a nincompoop will still be available to readers, but they will be able to access it more rapidly.
You snail-skulled little rabbit. Would that a hawk pick you up, drive its beak into your brain, and upon finding it rancid set you loose to fly briefly before spattering the ocean rocks with the frothy pink shame of your ignoble blood. May you choke on the queasy, convulsing nausea of your own trite, foolish beliefs.
You are weary, stale, flat and unprofitable. You are grimy, squalid, nasty and profane. You are foul and disgusting. You're a fool, an ignoramus. Monkeys look down on you. Even sheep won't have sex with you. You are unreservedly pathetic, starved for attention, and lost in a land that reality forgot.
And what meaning do you expect your delusionally self-important statements of unknowing, inexperienced opinion to have with us? What fantasy do you hold that you would believe that your tiny-fisted tantrums would have more weight than that of a leprous desert rat, spinning rabidly in a circle, waiting for the bite of the snake?
You are a waste of flesh. You have no rhythm. You are ridiculous and obnoxious. You are the moral equivalent of a leech. You are a living emptiness, a meaningless void. You are sour and senile. You are a disease, you puerile one-handed slack-jawed drooling meatslapper.
On a good day you're a half-wit. You remind me of drool. You are deficient in all that lends character. You have the personality of wallpaper. You are dank and filthy. You are asinine and benighted. You are the source of all unpleasantness. You spread misery and sorrow wherever you go.
I cannot believe how incredibly stupid you are. I mean rock-hard stupid. Dehydrated-rock-hard stupid. Stupid so stupid that it goes way beyond the stupid we know into a whole different dimension of stupid. You are trans-stupid stupid. Meta-stupid. Stupid collapsed on itself so far that even the neutrons have collapsed. Stupid gotten so dense that no intellect can escape. Singularity stupid. Blazing hot mid-day sun on Mercury stupid. You emit more stupid in one second than our entire galaxy emits in a year. Quasar stupid. Your writing has to be a troll. Nothing in our universe can really be this stupid. Perhaps this is some primordial fragment from the original big bang of stupid. Some pure essence of a stupid so uncontaminated by anything else as to be beyond the laws of physics that we know. I'm sorry. I can't go on. This is an epiphany of stupid for me. After this, you may not hear from me again for a while. I don't have enough strength left to deride your ignorant questions and half baked comments about unimportant trivia, or any of the rest of this drivel. Duh.
The only thing worse than your logic is your manners. I have snipped away most of what you wrote, because, well... it didn't really say anything. Your attempt at constructing a creative flame was pitiful. I mean, really, stringing together a bunch of insults among a load of babbling was hardly effective... Maybe later in life, after you have learned to read, write, spell, and count, you will have more success. True, these are rudimentary skills that many of us "normal" people take for granted that everyone has an easy time of mastering. But we sometimes forget that there are "challenged" persons in this world who find these things more difficult. If I had known, that this was your case then I would have never read your post. It just wouldn't have been "right". Sort of like parking in a handicap space. I wish you the best of luck in the emotional, and social struggles that seem to be placing such a demand on you.
P.S.: You are hypocritical, greedy, violent, malevolent, vengeful, cowardly, deadly, mendacious, meretricious, loathsome, despicable, belligerent, opportunistic, barratrous, contemptible, criminal, fascistic, bigoted, racist, sexist, avaricious, tasteless, idiotic, brain-damaged, imbecilic, insane, arrogant, deceitful, demented, lame, self-righteous, byzantine, conspiratorial, satanic, fraudulent, libelous, bilious, splenetic, spastic, ignorant, clueless, illegitimate, harmful, destructive, dumb, evasive, double-talking, devious, revisionist, narrow, manipulative, paternalistic, fundamentalist, dogmatic, idolatrous, unethical, cultic, diseased, suppressive, controlling, restrictive, malignant, deceptive, dim, crazy, weird, dystopic, stifling, uncaring, plantigrade, grim, unsympathetic, jargon-spouting, censorious, secretive, aggressive, mind-numbing, arassive, poisonous, flagrant, self-destructive, abusive, socially-retarded, puerile, clueless, and generally Not Good.
I Hope This Helps...
Leni
Kitty, do your duty!
I guess no other schlub in history has ever had this happen. What a completely stupid thing to say.
IBTZ.... : )
With a 5% unemployment rate that means that only 95% of the population is doing well.
Thank you!
It would be nice if more people could just politely answer rather than just typing IBTZ when the question asked is legitimate. It helps us all when we get into these arguments with liberals.
I would guess another reason for fewer jobs created is that fewer were needed. For example, if there were 10,000,000 unemployed at the beginning of the recovery, then you can only create a maximum of 10,000,000 jobs. If at the beginning of previous recoveries there were 20,000,000 unemployed, then it is possible to create more than 10M. I would think that a FAR better measure is the unemployment level. That isn't mentioned.
I don't know about the dates chosen. Are they legitimate? It is possible to cherrypick dates to show just about anything.
See 91, the numbers aren't even legit to begin with.
Wait a second!!! You mean the biggest job-creating expansion boom in history (the one that bill clinton took credit for) started a full 21 months before he was elected and 23 months before he took office??!!!! Wow, how could bill clinton have been so incredibly effective that as governor of a pissant state like Arkansas he was able to cause this job creation engine.
Can't you be more specific? He may think you like him.
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