October 29, 2009

Flashback: Bush's Economy Posts 7.2% Quarterly Growth, and CNN Wonders: But Where Are the Jobs?
— Ace

Of course, of course. This post is, I guess, so obvious as to be pointless, but let's just note it for the sake of completeness.

While Treasury Secretary John Snow predicted this month the economy would soon be adding 200,000 jobs a month, other White House officials Thursday were quick to note the recent burst of growth has yet to create many jobs.

"We need to continue to act to build upon the steps we have taken to get our economy growing so we can continue to translate growth into job creation," said White House spokesman Scott McClellan, according to a Reuters report.

The Labor Department, in a separate report Thursday, said new weekly claims for unemployment benefits were still relatively high in the week ending Oct. 25.

In fact, during a quarter with the strongest growth rate since 1984, total employment fell by 165,000 jobs, according to Labor Department statistics, in part because of strong productivity growth, which enables companies to get more work out of fewer workers.

Fell only by 165,000 jobs? We should be so lucky.

The 7.2% was the initial reading; it was later revised down to paltry 6.5% or something like that. And CNN, it should be noted, does say the economy "sizzled" in that quarter, but, um, that's hard to not say. 7.2% is an eye-popping number.

And, incidentally, that was no one-quarter wonder, either; the economy had already been growing by quite a bit for two years, and would continue growing until Bush's last quarter in office. It was adding a huge burst of growth on to an already nicely-growing economy.

But having acknowledged that, they then go on to whine endlessly about jobs, despite the fact that an economy that just grew 7.2% is obviously going to be producing jobs pretty quickly.

Thanks to Drew for the reminder.

Posted by: Ace at 07:57 AM | Comments (47)
Post contains 336 words, total size 2 kb.

1 It's Bush's fault.

Posted by: dfbaskwill at October 29, 2009 08:00 AM (ympAm)

2 Waiting for new troll Kirk...

Posted by: Methos at October 29, 2009 08:01 AM (IoxPW)

3 Kurt (crap!-hope he's around long enough to learn his name)

Posted by: Methos at October 29, 2009 08:02 AM (IoxPW)

4 The state controlled media whined about jobs for years under Bush.  When the jobs numbers finally started picking up they seemed a bit sullen about it.  It was like a favorite friend had passed away or something.

Posted by: kefka at October 29, 2009 08:02 AM (n1uMU)

5 But it wasn't growth-growth.

Posted by: The Big Whoop at October 29, 2009 08:02 AM (xxgag)

6 Oh, we have a new troll?  Neat!

Posted by: kefka at October 29, 2009 08:02 AM (n1uMU)

7 Funny, but back then i remember talk that the media was not impressed by the improving economy because their industry was having hard times.

We all knew it was a BS excuse, but never mind that -- who needs a job when we have skittles.

Posted by: jcp at October 29, 2009 08:04 AM (DHNp4)

8 What was the worst year of Bush Admin. job growth?

Posted by: John Sterling ParisParamus at October 29, 2009 08:05 AM (VKn7o)

9 I miss Dubya .

Posted by: akward davies at October 29, 2009 08:08 AM (wb68R)

10 Numbers are racist.

Posted by: Mr. Crabington at October 29, 2009 08:08 AM (taGwa)

11 The 3.5% growht is a myth.

1/2 comes from Cash for clunkers. This is a net minus on the economy, as it saddled over 1/2 a million people with 20,000+ in debt they would not have normally had.

The other 1/2 is from the propping up of the real estate market with tax deductions.

The growth today, comes at the expense of growth tomorrow. It's sustainable.

Posted by: lorien1973 at October 29, 2009 08:09 AM (IhQuA)

12 It's sustainable.

Unsustainable, retard.

Thanks.

Posted by: lorien1973 at October 29, 2009 08:10 AM (IhQuA)

13 Hey lefties, let this thought sink in for a second.

Obama is such a disaster at president, he makes George Bush look like a great president.  Just ponder that and have a nice day.

Posted by: Just Another Poster at October 29, 2009 08:10 AM (NgoAe)

14 not all numbers are racist.

3 looks like boobs

Posted by: jcp at October 29, 2009 08:12 AM (DHNp4)

15 jcp at October 29, 2009 01:12 PM (DHNp4)

3 is a butt

8 is boobies

Posted by: lorien1973 at October 29, 2009 08:15 AM (IhQuA)

16 "The FAILED policies of the last eight years!!!!1111ty!!!"

Posted by: Michael in MI at October 29, 2009 08:15 AM (ObTcs)

17

It's sustainable.

Unsustainable, retard.

What about me?

Posted by: Robust at October 29, 2009 08:16 AM (wAQA5)

18 And don't forget that the stimulus jobs have been overestimated by thousands, and that unemployment has been extended to 99 weeks.
 
But hey, aren't those skittle shitting unicorns the bomb?

Posted by: shibumi at October 29, 2009 08:17 AM (OKZrE)

19 Posted by: Robust at October 29, 2009 01:16 PM Row bust? I prefer the 'motorboat'.

Posted by: Michael in MI at October 29, 2009 08:17 AM (ObTcs)

20 I hate Obama, his lying administration,the lap dog media, his wife Chewbacca, and most of all, I hate Unicorns

Posted by: Todd ( the guy who has to just let it go) at October 29, 2009 08:20 AM (LLOGQ)

21 83

Posted by: jcp at October 29, 2009 08:22 AM (DHNp4)

22 Sorry. 7.2 is less than 3.5. The 7 looks like a 1. Gotta go.

Posted by: CNN at October 29, 2009 08:23 AM (xtgND)

23 and most of all, I hate Unicorns Yeah, well we ain't too fond of you! You specieist!

Posted by: Unicorns United for Obama at October 29, 2009 08:24 AM (RD7QR)

24

Added to this, I think during the Bush years the GDP grew for somethink like 9 consecutive quarters at one point.

Posted by: Jay at October 29, 2009 08:25 AM (/ZX77)

25

these posts that compare the media's treatment of Bush/conservatives/republicans to their treatment of Libs/Dems accomplish nothing beyond reaffirming what we already know to be true

Posted by: Cool Money Grip at October 29, 2009 08:26 AM (KOkrW)

26 #26 its one thing to complain about bias.  Its another thing to smack them around with the evidence.  The later pushes you from a whiner (Faux News) to someone with a real complaint.

Posted by: Just Another Poster at October 29, 2009 08:28 AM (NgoAe)

27 these posts that compare the media's treatment of Bush/conservatives/republicans to their treatment of Libs/Dems accomplish nothing beyond reaffirming what we already know to be true True, but it does make the squeakhole-dorking we're now enduring more comfortable.

Posted by: joncelli at October 29, 2009 08:29 AM (RD7QR)

28 Yup Bush's fault that we are becoming Zimbabwe West.  Poor President Obama doesn't have a mop big enough to mop up the mess. 

Posted by: runningrn at October 29, 2009 08:30 AM (qP2BK)

29 But having acknowledged that, they then go on to whine endlessly about jobs, despite the fact that an economy that just grew 7.2% is obviously going to be producing jobs pretty quickly. Why did CNN & the Dems (BIRM) whine so much about jobs anyway? It's not like they really wanted one. And if they do have one, they just mail it in (ie CNN).

Posted by: Van Jones at October 29, 2009 08:33 AM (SPSOE)

30 What timing. The UI Weekly Claims report is released at 1:30 on Thursdays. More bad news. In the week ending Oct. 24, the advance figure for seasonally adjusted initial claims was 530,000, a decrease of 1,000 from the previous week's unrevised figure of 531,000. The 4-week moving average was 526,250, a decrease of 6,000 from the previous week's unrevised average of 532,250.

Posted by: Pecos Bill at October 29, 2009 08:35 AM (8WOM0)

31 This is the most job-killing administration in American history. And yet, it's all Bush's fault, even though the One plays golf, too.

Posted by: trentk269 at October 29, 2009 08:41 AM (hYr0p)

32 GDP growth in 2003?

Never heard of it.

Posted by: Charlie Gibson, glasses perched on end of nose at October 29, 2009 08:42 AM (Do9Eu)

33 I see AOSHQ is gaining lots of new commenters.  When will AOSHQ launch The AOSHQ GreenRoom  MoronRoom?

Posted by: ParisParamus at October 29, 2009 08:46 AM (aYS5W)

34 It's unreal...

These clown in the media can have tangible evidence that the economy was not only better, but my several orders of magnitude, and STILL slob Owebamas knob.  All I hear is how many jobs we CONTINUE TO FUCKING LOSE!  Where is the GROWTH?!  Fucking asshole media.  I really hope the day comes when somebody is shitting down their throat and are being told it's a steak sandwich.  fuckers

Posted by: MelodicMetal at October 29, 2009 08:47 AM (x4S2a)

35

I repeat previous words:

 

The economy was great under Clinton although the GDP had gone negative before Bush took office.

 

The country was STILL in recession under Bush even though we had multiple quarters of positive growth.

 

The media never did say we were officially out of the recession that started under Clinton but…

 

We entered a recession under Bush even though we had no negative quarters of GDP.

 

And now we are out of the recession even though we have not had any positive qtrs (until this fake crap now).

 

The MSM has no shame.

 

Posted by: Vic at October 29, 2009 08:56 AM (CDUiN)

36

>27 #26 its one thing to complain about bias.  Its another thing to smack them around with the evidence. 

i just wanna smack 'em

Posted by: Cool Money Grip at October 29, 2009 09:03 AM (KOkrW)

37 You want to see something funny?  You want some schadenfreude?  Check out Art Laffer v Peter Schiff on MSNBC on 8/28/2006.  This'll make you sick, laugh, and gloat all at the same time.

Posted by: Jazz at October 29, 2009 09:16 AM (hnq5i)

38 I see AOSHQ is gaining lots of new commenters.  When will AOSHQ launch The AOSHQ GreenRoom  MoronRoom?

Posted by: ParisParamus at October 29, 2009 09:21 AM (aYS5W)

39 En Fuego!

Posted by: that guy that shouts enfuego! at October 29, 2009 09:38 AM (PD1tk)

40 I got my skittles today!  They taste funny (bad, not ha ha) though...

Posted by: somejoe at October 29, 2009 11:33 AM (KeHPo)

41 With great excitement I opened the box supposed to contain my new unicorn...fuckers sent me a ChiaPet instead.

Obama lies.  The media lies.

Posted by: Purple Avenger at October 29, 2009 12:01 PM (hTnY7)

42 Yeah, 'growth' happened during a housing and securities bubble under Bush.  Don't strike one as something to get gloaty about. 

I love how all the economic markers that reflect the bubbilicious Bushconomy are being dredged up in some bizarre attempt to claim Bush was doin' it right all along.  Which he wasn't.  That Obama's doin' it wrong even harder does not in fact mean we were getting real growth under Bush. 

Posted by: oyvey at October 29, 2009 04:11 PM (JEnKu)

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Posted by: xlzhengnan at October 29, 2009 08:48 PM (Mj2H/)

44 All of the jobs that were created the last ten years were built on subprime credit. When the bubble popped, so did the jobs. There is (and hopefully will not be) any other parallel in history. That's why talking about job loss or creation in 2003 is pointless. Those jobs are a figment of our imagination just as the money was. 

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Posted by: herman198 at March 10, 2011 01:10 AM (tnRWG)

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