Best, worst, it’s all about how you look at it…

Then and now:

Democrats on the Economy in 1996:
Our economy is the healthiest it has been in three decades.” (President Bill Clinton, State of the Union Address, January 23, 1996)

Democrats on the Economy in 2008:
The bottom line is that this administration is the owner of the worst jobs record since Herbert Hoover.” (Senator Charles Schumer, Press Release, March 7, 2008)

“Healthiest economy in three decades” Unemployment Rate: 5.5%
“Worst jobs record since Herbert Hoover” Unemployment Rate: 5.1%

And it’s not just the flat rates that are backwards, either. Go look.

Comments

  1. Murdoch, you have to get off this democrat versus republican mentality and look at the big picture. It is not just you, too many guys will say things are good or bad based upon whether a republican or democrat is in office. Same is true for hard core democrats. I used to do it as well. The unemployment rate, inflation and other statistics are misleading because they are not measured reasonably. For example, our unemployment rate benefits from us having the largest prison population in the world. Our inflation rate does not include food and energy. And our public debt does not include the $45 trillion in unfunded liabilities. So fixating on these stats is worthless. Bottom line look at where the US is trending. We used to manufacture and produce the majority of shit ocnsumed in this nation. We used to be the most independent republic in history and the envy of the world. Those days are vanishing and both democrats and republicans are equally to blame.

  2. The other thing that you have to remember is that even though those differences in numbers appear small, we are talking about 1,204,560 more *people* who are unemployed now vs. back in 1996. Over ONE MILLION people more unemployed now is a stunningly large number.

  3. These are three of the stats I usually look at first: CES Employment Jan 1996: 118,188,000 Mar 2008: 137,846,000 Difference: +19,658,000 (+16.6%) CPS Unemployment Level Jan 1996: 7,491,000 Mar 2008: 7,815,000 Difference: +324,000 (+4.3%) CPS Civilian Labor Force Level Jan 1996: 132,616,000 Mar 2008: 153,784,000 Difference: +21,168,000 (+15.9%) Please let me know where that 1.2 million additional unemployed number comes from. The CPS seems to say that 0.3 additional million out of a force that’s larger by 21.1 million are unemployed. I usually trust the CES more than the CPS. Even if the 1.2 million additional unemployed is correct, it’s got to be compared to either 19.6 million (CES) or 20.8 million (CPS) additional employed over the same period. I’m not arguing that the economy or the employment situation is rosy. I’m arguing that those who said it was rosy in 1996 and say it’s bad today are pretty much full of it. That would be mostly Democrats and the media. And for all of the measures they could use to try to prove their point, why they’d choose employment numbers is beyond me. Went from best in 30 years to worst in 75 years in 12 years by IMPROVING? Murdoc thinks someone’s telling stories again.

  4. Remember that at the time, the national debt was being reduced, and now it only gets bigger and bigger…

  5. Ummmm, yeah… Bush gets around those numbers by changing the official definition of unemployment by calling ‘success’ and ’employment’ someone who can’t find work after 18 months because they are no longer counted on the roles of unemployed.