October 29, 2009
— 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: dfbaskwill at October 29, 2009 08:00 AM (ympAm)
Posted by: Methos at October 29, 2009 08:01 AM (IoxPW)
Posted by: Methos at October 29, 2009 08:02 AM (IoxPW)
Posted by: kefka at October 29, 2009 08:02 AM (n1uMU)
Posted by: The Big Whoop at October 29, 2009 08:02 AM (xxgag)
Posted by: kefka at October 29, 2009 08:02 AM (n1uMU)
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)
Posted by: John Sterling ParisParamus at October 29, 2009 08:05 AM (VKn7o)
Posted by: akward davies at October 29, 2009 08:08 AM (wb68R)
Posted by: Mr. Crabington at October 29, 2009 08:08 AM (taGwa)
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)
Posted by: lorien1973 at October 29, 2009 08:10 AM (IhQuA)
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)
3 looks like boobs
Posted by: jcp at October 29, 2009 08:12 AM (DHNp4)
3 is a butt
8 is boobies
Posted by: lorien1973 at October 29, 2009 08:15 AM (IhQuA)
Posted by: Michael in MI at October 29, 2009 08:15 AM (ObTcs)
What about me?
Posted by: Robust at October 29, 2009 08:16 AM (wAQA5)
But hey, aren't those skittle shitting unicorns the bomb?
Posted by: shibumi at October 29, 2009 08:17 AM (OKZrE)
Posted by: Michael in MI at October 29, 2009 08:17 AM (ObTcs)
Posted by: Todd ( the guy who has to just let it go) at October 29, 2009 08:20 AM (LLOGQ)
Posted by: jcp at October 29, 2009 08:22 AM (DHNp4)
Posted by: CNN at October 29, 2009 08:23 AM (xtgND)
Posted by: Unicorns United for Obama at October 29, 2009 08:24 AM (RD7QR)
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)
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)
Posted by: Just Another Poster at October 29, 2009 08:28 AM (NgoAe)
Posted by: joncelli at October 29, 2009 08:29 AM (RD7QR)
Posted by: runningrn at October 29, 2009 08:30 AM (qP2BK)
Posted by: Van Jones at October 29, 2009 08:33 AM (SPSOE)
Posted by: Pecos Bill at October 29, 2009 08:35 AM (8WOM0)
Posted by: trentk269 at October 29, 2009 08:41 AM (hYr0p)
Never heard of it.
Posted by: Charlie Gibson, glasses perched on end of nose at October 29, 2009 08:42 AM (Do9Eu)
Posted by: ParisParamus at October 29, 2009 08:46 AM (aYS5W)
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)
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)
>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)
Posted by: Jazz at October 29, 2009 09:16 AM (hnq5i)
Posted by: ParisParamus at October 29, 2009 09:21 AM (aYS5W)
Posted by: that guy that shouts enfuego! at October 29, 2009 09:38 AM (PD1tk)
Posted by: somejoe at October 29, 2009 11:33 AM (KeHPo)
Obama lies. The media lies.
Posted by: Purple Avenger at October 29, 2009 12:01 PM (hTnY7)
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)
Posted by: xlzhengnan at October 29, 2009 08:48 PM (Mj2H/)
Posted by: SBurgan at November 03, 2009 05:02 PM (FACJl)
Posted by: UGG Bailey Button Boots at November 14, 2009 06:03 AM (RJlNK)
Posted by: herman198 at March 10, 2011 01:10 AM (tnRWG)
Posted by: ipod to mac at April 14, 2011 07:19 AM (ecKmC)
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