I’ve done a few comparisons of economic performance under Reagan and Obama, sometimes using the interactive data from the Minneapolis Federal Reserve Bank.
And I’ve done a few TV interviews on the same subject.
But something was very different in this interview on the Fox morning show. I was asked to respond to the Obama campaign’s assertion that Barack Obama’s policies created more private-sector jobs than Ronald Reagan’s policies.
I confess that I did the interview without first checking the numbers, and may not have been overly animated since I was in Denver and had to wake up before 4:00 a.m., but I felt confident enough to joke about an intern torturing data in the bowels of the White House.
But now that I’m back at my desk and I’ve had a chance to review the numbers from the Bureau of Labor Statistics, I can now say, with full confidence, that Stephanie Cutter must be smoking crack (she’s also smoking hot, but that’s a separate discussion).
And her intern should be fired.
Here are the numbers for private sector jobs (technically “Private wage and salary workers”), looking at the first 42 months in office for both Reagan and Obama. I’m including both seasonally adjusted and raw numbers, just to show that there’s no way to slice the data to justify Ms. Cutter’s assertion.
And here’s a look at the comparative performance of Reagan and Obama, based on the percent increase in private jobs in the first 31 months.
I also looked at what would happen if agricultural and/or self-employed workers were added to the mix, but nothing changes. Reagan beats Obama with both hands tied behind his back.
And what makes these numbers even more stunning is that Obama took office in the middle of a downturn, so a lot of the job losses already had occurred. Reagan, by contrast, got hit with a recession after taking office. So even though I think that downturn can and should be blamed on Jimmy Carter, all of the job losses show up in Reagan’s column. Yet he still kicks the you-know-what out of Obama.
The lesson to draw from these numbers is that Presidents should reduce the burden of government if they want better economic performance. Saint Ronald understood this basic insight, but Barack the Destroyer somehow thinks America will be more prosperous if we mimic Europe’s welfare states.
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Reagan increased spending 76% in his 8 years, and never balanced the budget despite increasing revenues of 69%.
Had the largest deficits as a percentage of GDP, 6%, that was a record until Obama (10%).
Raised Social Security taxes over 15% instead of privatizing the program guaranteeing its failure in a few years from now.
Allowed bracket creep to push the middle class into higher tax brackets, (he did lower taxes for the top rate from 70% to 28%).
Most of the deregulation of oil, gas, airlines, trucking, was done by Carter not Reagan. Reagan failed to deregulate natural gas. He increased regulation of Wall Street. All talk and no walk.
Increased support for farmers and their government sanctioned cartel enforcer the USDA. Don’t you just love it when politicians make all the working families pay more for their groceries? Really great guys huh?
Republicans and Democrats need to quit drinking the Kool aid. We do not have “conservative” or “liberal” politicians. We have socialist, fascist, and communist politicians fighting over how to make the rich richer and lying to their constituents.
That’s it.
They don’t work for you and never have since Calvin Coolidge and Warren Harding. They work for the Federal Reserve who works for Goldman and the Rothschild’s.
The bankers run the show and Washington is there to provide the peasants with clowns like Reagan and Obama to feed the peasants crap, misdirection, and stupidity.
That’s all Washington does, they get the peasants angry about whatever issues of the day comes along while the bankers in the background steal, rob, loot, and destroy the country for their own personal gain.
It’s a old gypsy show, distract the mark (victim) with a lot of bumping into, noise, commotion, cacophony, and steal their wallet in the commotion. That’s the game, nothing more.
If Americans understood banking, inflation, finance, the stupidity of the same trick being played over and over again and working time after time would be plain as day. But 99% fail to educate themselves and the gypsies in NYC get away with the theft time after time while the clowns in Washington DC distract them with a new game of Red Team Blue Team.
Time to grow up and stop playing the game. The best option is not to play the game.
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Seeing that you like amusing takes on life and in the interest of “job creation” here’s a South African video
“Invest in a pothole and make money”
Sorry, but anyone who lies that often and that easily renders herself unattractive by default. And, I don’t find her all that attractive to begin with. If we had anything approaching a serious media, she’d be toast.
Smoking hot? Attractive, yes. But let’s not get carried away.
The truth is irrelevant. The Obamabots get their news from the lib-prog media who won’t call the White House on this or bother to mention the correction other than on the bottom of page 39. This si form Goebbel’s playbook that if you have to lie, then make it so big that most people will hear it and think that it MUST be true since it would be so absurd to make it up/
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