Sunday, January 11, 2015
The U.S. Economy Continues Its Momentum Under The Obama Administration
The U.S. Labor Department reported the economy created 252,000 jobs in December, the 58th straight month of positive job growth. Unemployment fell to 5.6% from the 5.8% rate in November, the lowest unemployment number since 2008. Other good news: Those unemployed more than 6 months fell 27%; Those working part time fell 12%; 50,000 more jobs were created in October and November than was previously reported. 2.95 million jobs were created in the year 2014, the most in a single year since 1999. Another democratic administration was in office at that time. President Bill Clinton.
Over 10 million jobs have been created on the President's watch and more new net jobs in Obama's 6 years in office than was created in President Bush's 8 years in office who ended his two terms with the worst job creation record since the great depression of 1929. Middle class wages are still ahead of inflation but still need to increase on a steady basis to off set the losses that began under the previous republican administration.
The good news on the economy comes on the heels of the good news from the CBO that the budget fiscal year ending 9/30/14 saw a continued reduction of the federal deficit on the President's watch. The republican party in congress could have been part of and party to the progress the country has made on the economy but instead choose the road of doing nothing with the intent to obstruct. The republican controlled House failed a basis test when they refused to even take up the Senate passed bill to repair and rebuild the nation's infrastructure. That has always been supported by both parties in the past because it is an immediate job creator and good for the over all economy.
So what did the republicans in congress do this week after the latest numbers came in on the economy? They started their propaganda push that they are responsible for the great turnaround in the economy. Every one who follows politics know they have no shame. They also have no character or courage. Look for the conservative news media to push the same propaganda.
Its always great to have a democratic administration follow a republican administration in the White House. The change always works out for the better and progress will happen. History has confirmed that and so has "PolitiDose."
This commentary written by Joe Lorio
Over 10 million jobs have been created on the President's watch and more new net jobs in Obama's 6 years in office than was created in President Bush's 8 years in office who ended his two terms with the worst job creation record since the great depression of 1929. Middle class wages are still ahead of inflation but still need to increase on a steady basis to off set the losses that began under the previous republican administration.
The good news on the economy comes on the heels of the good news from the CBO that the budget fiscal year ending 9/30/14 saw a continued reduction of the federal deficit on the President's watch. The republican party in congress could have been part of and party to the progress the country has made on the economy but instead choose the road of doing nothing with the intent to obstruct. The republican controlled House failed a basis test when they refused to even take up the Senate passed bill to repair and rebuild the nation's infrastructure. That has always been supported by both parties in the past because it is an immediate job creator and good for the over all economy.
So what did the republicans in congress do this week after the latest numbers came in on the economy? They started their propaganda push that they are responsible for the great turnaround in the economy. Every one who follows politics know they have no shame. They also have no character or courage. Look for the conservative news media to push the same propaganda.
Its always great to have a democratic administration follow a republican administration in the White House. The change always works out for the better and progress will happen. History has confirmed that and so has "PolitiDose."
This commentary written by Joe Lorio
Subscribe to:
Posts
(
Atom
)