Friday, February 1, 2013
Friday, February 01, 2013 No comments
There were a 166,000 jobs created in January less the 9000 government jobs lost. More importantly the change in total nonfarm payroll employment for November was revised from +161,000 to
+247,000, and the change for December was revised from +155,000 to +196,000. This puts the 'big lie' to the Republicans claim that Obama was padding the jobs numbers to get re-elected. He would have presumably been declared President for life if the real updated numbers had been available. (that's sarcasm you rightwing trolls)
The rightwing media continues to scream that the economy is far worse now than when Obama was elected, yet there were 2.17 million new jobs created in 2012. That beats 7 of the 8 years that Bush was President. All the while Obama set new records for the reduction in number of government employees, beating Reagan handily. While Obama did create a comparable amount of debt to Reagan, in 1981 the economy wasn't in freefall, the banking system wasn't in total collapse. At the beginning of the Reagan Administration there was no question that the banks would allow withdrawals from your own account. There was the S&L collapse at the end, but that was because of Reagan, he didn't inherit from the previous administration.
Despite the Socialist Kenyan Mau Mau anti-colonialist rebel fascist/Marxist non-white in the White House, the Dow closed above 14,000 for the week. That is supposed to be the raw measure of capitalism, right? Never mind that the average 401(k) contributor, contributes over 150,000 to the Wall Street in crowd, and doesn't really get any return on his money, if he even gets it back.