Obama to break even on jobs in 2012? Probably!

Discussion in 'Politics' started by Ricter, Jan 12, 2012.

  1. Ricter


    Good news indeed.

    "Will Obama break even on jobs?
    By Annalyn Censky @CNNMoney January 11, 2012: 8:44 AM ET

    <img src="http://i2.cdn.turner.com/money/2012/01/11/news/economy/obama_jobs_record/chart-obama-jobs.top.gif">

    "NEW YORK (CNNMoney) -- The job market is getting better, but it's far from healed. Will President Obama be able to turn things around in time to save his own job?

    "From the labor market's height in January 2008 to its bottom in February 2010, 8.8 million jobs were cut, and the unemployment rate soared as high as 10% in October 2009.

    "Obama has taken a lot of heat for that.

    "But only about half of those job losses -- or 4.3 million -- happened under his watch.

    "And by measuring his record against that benchmark, it looks like Obama could actually break even, and maybe even come out ahead on jobs.

    "As of December, roughly two thirds of the jobs lost during Obama's presidency have been recovered.

    "That leaves a hole of slightly more than 1.6 million jobs for him to fill by the end of 2012.

    "It's a tall order. But it might just happen.

    "Economists surveyed by CNNMoney are predicting that American employers will add exactly that many jobs this year.

    "Add that to upward revisions the Labor Department has already said it will likely add to its 2011 job tally, and Obama could very well end up with net job growth for his first term.

    "The trend is heading in the right direction for Obama right now," said Ryan McConaghy, director of the economic program at think-tank Third Way. "More jobs and lower unemployment are what he wants to continue to see."

    "A look at Obama's jobs record

    "Meanwhile, the unemployment rate, has already fallen to 8.5% -- getting closer to the 7.8% it was at when Obama was inaugurated.

    "What's in a number?

    "How much will the improvement help Obama's chances? History is a dubious measure.

    "George W. Bush ended his first term with a loss of 152,000 jobs and a higher unemployment rate than when he began, and he still won re-election.

    "But unemployment is a bigger issue today than it was then. (Check the unemployment rate in your state.)

    "And no president since Franklin D. Roosevelt has been elected for a second term with an unemployment rate over 7.2%.

    "As of December, 13 million people remain unemployed. Try convincing them that Obama has solved the country's economic woes.

    "Having a high level at 8% unemployment -- that's going to be hard for him to overcome," said Dean Baker, co-director of the Center for Economic and Policy Research. "If I'm President Obama, I don't want to be in the position of telling people this is a good economy -- that strategy is going to fall flat."
  2. If you don't count the millions of discouraged workers who aren't counted in the unemployment rate, I guess you have good news.

    Also, notice how Obama did not do it with Democrats. He did it with Republicans. When a Democrat is in the White House, gridlock is good! [​IMG]
  3. Bravo President Obama [​IMG]
  4. Tsing Tao

    Tsing Tao

    You've got shit-for-brains, Ricter. As do you, AK, or any other idiot who continues to ignore facts in lieu of the convenient statistical spin I've pointed out to (both of) you about a dozen times.
  5. Where will this chart be at election time, month 32

  6. Ricter


    Yup, infuriating.
  7. Congratulations are in order.
    No job growth in 4 years, lets do 4 more.....
  8. Don't waste your time, they will never see the truth.

    When it comes time to vote, who won't be fooled are the millions of unemployed, underemployed and who have dropped off the roles. That's when it's going to count.

    Think of it this way, obama's approval ratings are shit now, just wait until ads start airing reminding people of his healthcare plan, shitty economy and nancy pelosi.

    Just sit back and relax, the adults are about to take over (hopefully) and the children will be sent back to the basement to play.

  9. Lucrum


    Is this despite BO being in office or is it the result of any specific actions taken by BO?
  10. To be fair, are the lack of jobs a result of him being in office? Or GWB?

    A side note. We, as a nation, have to realize that many, many jobs are simply gone forever. Technology has replaced millions of jobs. Never to come back, never. And, with jobs overseas, with our trade deficit, defended by those like Fox's Stossel, are supposed to give us more money to spend. A weird parodox, if nothing else.

    So, is it ok to have jobs overseas to save Americans money with the hope they will spend that money on better things here at home?

    I know, a slight departure here, but I find it interesting. Your thoughts sir?

    #10     Jan 12, 2012