May 30, 2012
Just how anemic has this recovery been?
To answer that, we can start with the number of jobs that have been created coming out of past recessions, and compare to the number of jobs Obama's "recovery" has given us. It ain't pretty, says IDB: In his recent speeches on the campaign trail and at official functions, President Obama typically touts the fact that over the past two years, the economy has created more than 4 million new jobs, with more than 1 million in the past six months alone. At a fundraiser last month, he called this "extraordinary progress." But the economic recovery that Obama has presided over has been far from extraordinary. It hasn't even been ordinary. In fact, it's come in well below average on several key indicators compared with the previous 10 economic recoveries, dating back to 1949, according to an IBD analysis of various economic data. And on several measures, the current recovery - which started five months after Obama took office and is now in its 35th month - is the worst on record since...(Read Full Post)