The jobs record
May 7, 2012 2 Comments
Guess who oversaw the net creation of more private sector jobs during his first term, George W. Bush or Barack Obama? I’m guessing most people would guess Bush. Heck, I would guess Bush. After all, Obama came in during the middle of an economic free-fall while Bush inherited a robust economy.
But we’d all be wrong. During Obama’s first term (so far), the economy has created 35,000 private-sector jobs. It’s a small number, to be sure, but it is a positive number, which is remarkable given that more than 2 million private sector jobs were lost in 2009 before Obama’s policies could even take effect.
What about Bush? During his first term, the economy lost a net of 913,000 private-sector jobs. That’s with every tax cut he asked for.
Well, what about public-sector jobs? Surely the Marxist-socialist, economy-destroying Obama has loaded the government with new jobs. Right? Wrong. So far, state and federal governments have shed 607,000 jobs since Obama took office. How’s that compare to Bush’s small-government record? Well, during Bush’s first term, more than 900,000 public jobs were added.
Also interesting is this: Mitt Romney now believes the economy should be adding 500,000 jobs a month if Obama were doing a good job. What was the average job creation during the Bush administration? 66,000 per month, or about half of April’s job performance, which Romney wrote off as “terrible.” Yet Romney’s economic proposals almost completely echo Bush’s, only with even more tax cuts.
How’d that work out for us last time?