| | | >> Job growth in the first 34 months is less than Obama's last 34 months.
How stupid do you have to be to draw this comparison?
Unemployment skyrocketed when it became apparent Obama would win in 2008, which was around mid-2008. It really began to spin out of control when he took office, and Obama said if he blew a trillion dollars it would keep unemployment under 8%. They said that in February, then the February number came out and it was over 8% and headed north. It was a full 50 months before unemployment ever got down to 8% again.
Why? Why would a sharp downturn come with such a slow rebound. Economic downturns don't happen that way. The answer is, "the same reason that FDR dragged the Depression out for a full decade". They stupidly made it cost more to employ people, and refused to cut deeply the corporate tax rate (like Trump did).
So, six years into an 8 year term, employment returns to 5.7% -- still high, but better. When Trump takes office in Jan 2017 it is at 4.7% -- still a little higher than normal. Trump, in three years, has us sitting at 3.5%. Save for one four month stretch, the best unemployment rate in nearly 70 years.
Why is that such an achievement?
Does the word "nonlinear" mean anything to you at all? The concept at work here is that for the unemployment rate to move from, say, 8% to 7% is a HELL of lot less difficult than getting it to move from 4.5% to 3.5%.
There is not really any direct comparison unless you're a total ignoramus.
Trump took radical action and the payoff is a radical reduction in unemployment. And no, it is NOTHING like what Obama did. Don't even think it. |
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