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Fri Feb 7, 2020, 06:48 PM

President Obama's economy was better

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The thing speaks for itself

😁

10 replies, 5454 views

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Arrow 10 replies Author Time Post
Reply President Obama's economy was better (Original post)
Tweedy Feb 2020 OP
progree Feb 2020 #1
AncientGeezer Feb 2020 #2
Tweedy Feb 2020 #3
AncientGeezer Feb 2020 #4
progree Feb 2020 #6
AncientGeezer Feb 2020 #7
progree Feb 2020 #8
progree Feb 2020 #5
Tweedy Feb 2020 #9
Hortensis May 2020 #10

Response to Tweedy (Original post)

Fri Feb 7, 2020, 07:16 PM

1. The BLS data series

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Response to Tweedy (Original post)

Fri Feb 7, 2020, 07:29 PM

2. You'd have to do '09- '11 if you are going to use '17-'19 for dumpster

 

To make it apples to apples....

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Response to AncientGeezer (Reply #2)

Fri Feb 7, 2020, 07:41 PM

3. It refutes GOP propaganda

This president and his minions claim the best economy.

Since this economy is not as stellar as president Obama's last 3 years, the GOP propaganda is refuted.

Nevertheless, I get your point.

This chart was posted at Slate (in the link)

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Response to Tweedy (Reply #3)

Fri Feb 7, 2020, 08:04 PM

4. No it doesn't really.....

 

Using mismatched metrics....(unintended alliteration) doesn't make a case for anything....God forbid dumpster gets a 2nd term...then the comparisons can be done...otherwise they(the R's) will do what should be done...dispute the discrepancy.
I would if it was Jr.Bush and President Obama.....different parts of their 2 terms.

I got nailed by an observant righty...she correctly pointed out that Bush's 8yr average unemployment rate was lower than President Obama's 8yr average....that sucked.

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Response to AncientGeezer (Reply #4)

Fri Feb 7, 2020, 08:22 PM

6. Did you consider the economies each inherited?

I think it is more apples to apples to compare the more recent consecutive years. Not sure where you get the idea that the first n years must be compared to the first n years as some absolute gold standard.

They inherited very different economies.

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Response to progree (Reply #6)

Fri Feb 7, 2020, 08:53 PM

7. I always do....

 

I also consider the differences in the base lines of them.

When you start in a giant crater like Pres. Obama did...Up is all there is. Big numbers are going to happen. That's an economic fact.
We've gone from shitshow to "robust" often. It's our thing. How many times has it happened?
I could show you 8-10 since the Civil War
To your post below.....Job creation....as you point out....the recession.
The Recession ended in June-July-ish '09....yet we had the slowest post recession recovery ever. Also a fact.

I've been studying this crap since the late '60's...it's not new to me.

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Response to AncientGeezer (Reply #7)

Fri Feb 7, 2020, 10:42 PM

8. Well that's a lot better answer than making a fetish about comparing the first n years

of each president and not saying word one about the economies they inherited, until now.

I think Obama faced a lot more resistance from Congress in trying to improve the economy than Bush did.

Bush had a Republican Congress for 4 years, a divided Congress for 2 years, and a Democratic congress for 2 years.

Obama had a Democratic Congress for 2 years, a divided Congress for 4 years, and a Republican Congress for 2 years. And a Republican Senate majority leader whose declared goal was to make Obama a one-term president. And who stole a Supreme Court nomination.

It took a longer time for the economy to recover from the housing bubble crash because it was a deeper crash than the dot-com crash. The housing bubble crash was certainly crashing a lot harder when Obama took office, than the dot-com crash was when Bush took office.

I got nailed by an observant righty...she correctly pointed out that Bush's 8yr average unemployment rate was lower than President Obama's 8yr average....that sucked.


I'm surprised you had a tough time dealing with that. It just might have something to do with the unemployment rates they inherited and the momentum of the economy they inherited.

Bush inherited a 4.2 unemployment rate in January 2001
and the economy had gained an average of 116,000 jobs/mo over the last 3 months (Nov 2000 thru January 2001)

Obama inherited a 7.8% unemployment rate in January 2009
and the economy had lost an average of 739,000 jobs/mo over the last 3 months (Nov 2008 thru January 2009)

So frankly, I'm not "sucked" out that Obama's 8 year unemployment rate was 2.1 percentage points higher than Bush's given that he started out with a 3.6 percentage point disadvantage (7.8%-4.2%). (Bush's average unemployment rate: 5.3%, Obama's 7.4%).

You can say Obama was in a hole and there was nowhere to go but up, even with a hostile Congress that was as assholic as it was. But it could have gone down a lot further too.

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Response to Tweedy (Reply #3)

Fri Feb 7, 2020, 08:18 PM

5. Job creation

I get:

-805,000 Obama's first 36 months (-22,000 / mo average)
8,079,000 Obama's last 36 months (224,000 / mo average)
6,559,000 Trump's first 36 months (182,000 / mo average)

Obama's first 36 months was ruined by inheriting the Great Recession (the first year of job growth was March 2010). He turned around the economy in his first year and a half or so and went on to create jobs at a faster pace than Trump has so far.

Trump inherited Obama's nearly 7 years of continuous job growth and then, with that momentum, continued on, but at a slower pace of job creation.

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Response to progree (Reply #5)

Fri Feb 7, 2020, 11:22 PM

9. Exactly!

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Response to Tweedy (Original post)

Thu May 21, 2020, 07:37 AM

10. And Obama stimulated up and down the economy,

though only as much as Republicans congress reluctantly allowed, not by the mass transfers of national wealth to the wealthy the Republicans began engineering as soon as they had a Republican president who wouldn't veto them.

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