Tag: the economy

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Politics

Obama Great For The Economy – 48 Months of Job Growth

We hear a lot about this fictional liberal land under President Obama, where job creation was killed by Obamacare and liberal ideas have destroyed the country. Reality, of course, is quite different. In fact, reality is almost the exact opposite. For Bush’s entire 8 years, job growth was just 1.1 million. Yet under Obama, the private sector has had 48 straight months of job growth, with businesses adding 8.7 million jobs.

Today’s job numbers are a good example of the disconnect. “Nonfarm payroll employment rose by 175,000 in February, and the unemployment rate, at 6.7 percent, changed little,” per Erica L. Groshen, the Commissioner of the Bureau of Labor Statistics.

Jason Furman, Chairman of the Council of Economic Advisers, put these numbers in perspective in a statement in which he explained that February was the 48th straight month of private sector job growth, “February 2014 was the 48th straight month of private-sector job growth, with businesses adding 8.7 million jobs over that time.”

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Politics

“Robust” Economy Added 195,000 Jobs in June

U.S. employers are sending a message of confidence in the economy — hiring more workers, raising pay and making the job market appear strong enough for the Federal Reserve to slow its bond purchases as early as September.

The economy gained a robust 195,000 jobs in June and many more in April and May than previously thought. The unemployment rate remained 7.6 percent in June because more people started looking for jobs — a healthy sign — and some didn’t find them. The government doesn’t count people as unemployed unless they’re looking for work.

The Labor Department’s report Friday pointed to a U.S. job market that’s showing surprising resilience in the face of tax increases, federal spending cuts and economic weakness overseas. Employers have added an average 202,000 jobs for the past six months, up from 180,000 in the previous six.

The job growth is being fueled in part by consumer spending and the housing recovery. Consumer confidence has reached a 5½ year high and is helping drive up sales of homes and cars. Hiring was especially strong in June among retailers, hotels, restaurants, construction companies and financial services firms.

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Politics weekly address

President’s Weekly Address – Good Economic Signs So Far, But More Needed

Another week, and another weekly address by President Obama asking Congress to do their jobs and work for the American people. The President spoke about some of the positive things that have happened since his policies were put in placed, and he suggests that more can and should be done if Congress cooperated.

 Thanks to the grit and determination of the American people, our businesses have now created nearly 7 million new jobs over the past 38 months.

An auto industry that was flat lining is once again the heartbeat of American manufacturing – with Americans buying more cars than we have in five years.

Within the next few months, we’re projected to begin producing more of our own crude oil at home than we buy from other countries – the first time that’s happened in 16 years.

Deficits that were growing for years are now shrinking at the fastest rate in decades.  The rise of health care costs is slowing, too.

And a housing market that was in tatters is showing new signs of real strength.  Sales are rising.  Foreclosures are declining.  Construction is expanding.  And home prices that are rising at the fastest rate in nearly seven years are helping a lot of families breathe a lot easier.

Now we need to do more.

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democrats Politics

Remember Something Called The Economy?

Remember the economy?

The election year was dominated by talk about jobs and the economy, but neither the administration nor Congress seems to have any grand ideas for jump-starting a still sluggish recovery — and they’re not even talking about it much.

President Obama sought to turn attention back to economic issues with a speech last week in Texas on manufacturing, but that’s already long since been forgotten. A cascade of scandals has driven the issue entirely off the Washington radar.

Even before Benghazi, the IRS and the Department of Justice controversies started heating up, the economy had consistently taken a back seat to issues such as immigration and gun control.

“The economy is by far the most important issue for voters,” says Karlyn Bowman, a polling expert at the American Enterprise Institute. “It’s not unusual for Washington preoccupations to be different than those of the public.”

She says that the public is skeptical that Washington can provide economic answers at this point. Politicians themselves seem a little dubious.

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