Is "Failed economic record" a big lie, or not?

In this article the New York Times says it is. Fox News has added mud to the already muddy waters with this "hit piece" that simply distorts the time frame, and the reality of Manufacturing jobs growth.Â CNN adds fuel to the fire with this article covering only the Obama Administration.

CNN money, on January 9, 2009, carried this report, Worst year for Job since '45. That was the last year of the Bush Administration. Total Losses for the year, 2.6 million.Â Obama's first year in office was worse.Â Since January 2010, 24 of the last 30 months have seen job increases.Â The total is about 3 point 8 million jobs in the last two and a half years.Â This chart shows the last year of the Bush Administration and the First year of the Obama Administration.

Data from the Bureau of Labor statistics.

Comments: 13

Jean R B. Jul 8, 2012, 1:38pm UTC

I am inclined not to believe charts. Even I can draw a chart and make it look real. Better is to observe the young people that are takng low paying jobs because the jobs they were educated to do are not hiring.

George Shaw Jul 8, 2012, 6:32pm UTC

Yes, there are many people who don't like to believe facts. They are usually very selective in the fact which they believe -- only the ones which reinforce their beliefs.

Karl Leuba Jul 10, 2012, 10:24am UTC

Jean, there are ways to rig charts. This particular chart is being widely used to "prove" that Obama's job creation policies are not working. The simple way to do that is to present only the right half. I've seen that with this particular chart.

To the best of my knowledge this chart is accurate.

Karl Leuba Jul 10, 2012, 10:49am UTC

This chart ends in July 2011. My opinion, based in part on these charts of job creation is that Obama is stuck with obstructionism from the Lock Step Republicans.
But, I realize that presenting another chart is not likely to improve your faith in Charts.

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David K. Jul 8, 2012, 5:30pm UTC

Needless to say, Fox again dishonestly distorts the facts.

Here's a link to a more recent job creation chart. Note that the last 2 years of the Bush administration was an unmitigated disaster, digging a hole so deep that it seemed impossible to get out. And yet almost immediately after Obama took office the bloodletting slowed, then stopped, then turned into job growth. The only reasons job growth hasn't been even better is because 1) the austerity programs in Europe (much like what the tea party wants in the US) have kept the global economy down, and 2) the tea party and Republicans have stood in the way of every job growth effort that the Obama administration has tried to make.

David K. Jul 8, 2012, 5:31pm UTC

Here's the link.

George Shaw Jul 8, 2012, 6:35pm UTC

Yes, David, this has been around, and has been fact checked by many sources. The Right-wing doesn't believe it because it is a series of facts which disrupt what they want to believe.

Karl Leuba Jul 10, 2012, 10:52am UTC

David, thanks for the more recent chart. It tells a more complete story of the importance of Congress. Policy may be guided by the President, but it is implemented by Congress.

Karl Leuba Jul 10, 2012, 4:24pm UTC

Along the same line, "Mean Streets" a news service of the Wall Street Journal makes a case for the political nature of the tax debate while pointing out that Romney continues to represent allowing the Bush era tax cuts on the wealthy as a tax increase on Small Business. Watch Here.

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Nippy Katz (Not his real name) Demigod about Town Jul 8, 2012, 5:46pm UTC

The "failed economic record" is based on the assumption that the president of the US has magic powers to heal the economy. The president, in concert with the congress, can enact programs to stimulate the economy. The timid stimulus enacted when Democrats had a majority in both houses was not enough to have a strongly noticeable effect, although most economists believe the effect was mildly positive. Republican opposition combined with the timidity of a lot of Democrats kept the stimulus from being as strong as it needed to be. Since the 2010 election it's been impossible to pass any meaningful legislation to affect the economy.

The present criticism is apparently based on Obama's being unable to influence the economy by force of will and personal magnetism. Maybe he should have had monstrous public prayer events or dressed up in some kind of ceremonial costume and danced to influence the gods of economic recovery. That sort of stuff has been his main option over the past couple of years.

Vicente Duque Jul 8, 2012, 6:18pm UTC

Excellent Comment, Nippy Katz

Excellent find, Karl Leuba.

*******

Karl Leuba Jul 10, 2012, 3:48pm UTC

Nippy, at ditto to the first half of Vincente's comment. I am a little embarrassed about the "find." I just can't get out of the house, it's just too hot in Phoenix, and the Air Conditioner in my car is busted.

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Bernard C. Jul 9, 2012, 1:34am UTC

Interesting piece :-)

Thanks for sharing and submitting to
The Surreal Circus.

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Is "Failed economic record" a big lie, or not?

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