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The robust Reagan recovery contrasted to the anemic Obama one

Posted by B. Daniel Blatt at 6:14 pm - July 6, 2012.
Filed under: Blogging,Economy,Obama Incompetence,Ronald Reagan

Although Bruce and I have different styles and do put different spins on things, it is often uncanny how certain issues strike us simultaneously.  Just as I was beginning a post on the jobs numbers, linking a piece by the American Enterprise Institute’s (AEI) James Pethokoukis, I find that Bruce had just posted on the numbers linking a piece by that very AEI blogger.

Bruce concludes his post contrasting the robust Reagan recovery with its anemic Obama counterpart.  In the Pethothoukis post I caught, the blogger provided the details of that contrast:

 Job growth during the three-year Obama recovery has averaged just 75,000 a month for a total of 2.7 million. During the first three years of the Reagan Recovery, job growth averaged 273,000 a month for a total of 9.8 million. If you adjust for the larger U.S. population today, the Reagan Recovery averaged 360,000 jobs a month for a three-year total of 13 million jobs.

Read the whole thing!  Via Glenn Reynolds who was one of many conservative and libertarian bloggers who linked the above, referencing that post in one of his two roundups on the job numbers, the other here.

Lots of good stuff in both detailing just how bad this recovery is — and explaining why.

FROM THE COMMENTS:  Rattlesnake asks, “How much did Reagan spend for each of those jobs that were created under his watch?” (more…)

Watcher of Weasels — First Winners of July 2012

Posted by B. Daniel Blatt at 5:39 pm - July 6, 2012.
Filed under: Blogging,Conservative Ideas

Council Winners

In Case You Missed It This Morning… Obama’s Economy SUCKS!

Posted by Bruce Carroll at 5:08 pm - July 6, 2012.
Filed under: Depression 2.0,Economy,Obama Incompetence

Well, it appears the minimal job growth in June was even worse than officially reported:

CNBC drilled down into the June jobs numbers from the Bureau of Labor Statistics. Here is the shocking truth about the figure of 80,000 jobs supposedly created.

The birth-death model, which approximates the amount of jobs gained through new businesses created too recently to be counted in the formal survey, added 124,000 positions, meaning that without the estimation the total count would have been a loss of 44,000.

Watch for the July jobs report period in a few weeks. That’s when we’re likely to see that June’s numbers get revised down, as has been the trend during the Obama era. June may get revised into negative job growth.

Jim Pethokoukis says we may not see jobs recover to a satisfactory level until the year 2030!

The “jobs gap” is the number of jobs the U.S. economy needs to create in order to return to pre-recession employment levels while also absorbing the people who enter the labor force each month.

The Hamilton Project has created a calculator (h/t to Matt O’Brien) that allows you to plug in various job creation rates to see how long it would take to fill the jobs gap under various scenarios.

What if the economy kept creating jobs at the 150,000-a-month pace that we saw last year and so far this year?

So under that scenario, the jobs gap would not close until after 2025, maybe more like 2030 — assuming the economy isn’t hit with another recession or two or three during that span.

Crikey.

At this point in the Reagan Recovery, we were hitting between 5 to 7% GDP quarterly growth and over 4 million jobs were created in just the 12 months before the November 1984 election.  Maybe the lesson here is…. one economic plan worked, the other is a complete mess.

-Bruce (GayPatriot)

Brad Pitt’s Mom Blasts Obama

Posted by Bruce Carroll at 4:34 pm - July 6, 2012.
Filed under: 2012 Presidential Election

I don’t really care about the political views of celebrities anymore.  They are mostly predictable and rather ignorant.  But this one caught my attention.  Granted, Mom Pitt isn’t exactly a celebrity.  But still…

Actor Brad Pitt and his fiancée, Angelina Jolie, will be likely be at odds with his mother, Jane Pitt, concerning her comments in a pro-Christian, anti-Obama, anti-gay marriage letter to The Springfield News-Leader of Springfield, Mo.

According to The Blaze , Pitt slams President Obama as a man who “sat in Jeremiah Wright’s church for years”, ignored the National Day of Prayer and as someone who supports “the killing of unborn babies and same-sex marriage” and suggests practicing Christians shouldn’t vote for him.

She openly supports Mitt Romney despite his Mormonism, saying: “I think any Christian should spend much time in prayer before refusing to vote for a family man with high morals, business experience, who is against abortion, and shares Christian conviction concerning homosexuality just because he is a Mormon.”

The actor once declared that he and Jolie would not marry until gay marriage is legalized countrywide. They have yet to wed.

Momma Pitt sounds like a firecracker.

-Bruce (GayPatriot)