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Cutter: Obama Created More Jobs Than Reagan

From Real Clear Politics:

Cutter: Obama Has Created More Jobs Than the Reagan Recovery

Wed August 22, 2012

Willie Geist, MSNBC: What would you say to that same person that said, ‘Well, that hasn’t worked for four years. I haven’t had the job over time, it’s time for a change.’

Stephanie Cutter, Obama deputy campaign manager: Well, I think that worker probably has a good understanding of what’s happened over the past four years in terms of the president coming in and seeing 800,000 jobs lost on the day that the president was being sworn in, and seeing the president moving pretty quickly to stem the losses, to turn the economy around.

And over the past, you know, [in] 27 months [sic] we’ve created 4.5 million private sector jobs. That’s more jobs than in the Bush recovery, [and] in the Reagan recovery.

There’s obviously more we need to do, and as I said to Mika at the at beginning of the program, I think that unemployed worker probably sees one person in this race trying to move the country forward and that’s the President…

Apparently, Obama’s deputy campaign manager, Ms. Cutter, is angling to replace Joe Biden as the ace of lies gaffes.

The scary thing is none of the journalists at MSNBC seem to have challenged this preposterous assertion. Though we haven’t seen the full clip. But we haven’t read where anyone challenged her claim.

Fortunately, James Pethokoukis at the American Enterprise Institute was watching. And he has responded:

Sorry, Stephanie Cutter, the Obama recovery hasn’t created more jobs than the Reagan recovery

James Pethokoukis | Wed August 22, 2012

After quoting the exchange above, Pethokoukis writes:

This is stunning… [In effect] Team Obama [is saying]: You didn’t build that, Reagan!

Just how do the Obama and Reagan recoveries stack up in terms of jobs?

From the end of the recession in June 2009 through July 2012 — the first 37 months of the Obama recovery — the U.S. economy has generated 2.7 million net new jobs. From the jobs low point in February 2010, the U.S. economy has generated 4 million net new jobs.

From the end of the 1981-82 recession through the end of of 1985 — the first 37 months of the Reagan recovery — the U.S.created 9.8 million net new jobs. And if you adjust for the larger U.S. population today, the comparable figure is more than 12 million jobs.

Score one for Reagan.

In other words, in the first 37 months, the Obama recovery has given us 2.7 million jobs. In the first 37 months under Reagan we got 9.8 million jobs. And, if you adjust for population growth that is the equivalent of 12 million jobs.

Another of way of assessing the U.S. labor market is by looking at the employment-population ratio, a simple measure that looks how many Americans are working as a share of the population (or what the Labor Department calls the civilian, non-institutional population.)

During the Reagan Recovery, that ratio increased. During the Obama Recovery, that ratio has been dead in the water.

Score one for Reagan.

In other words, the employment to population rate under Obama has remained stagnant. Under Reagan it increased.

One more way of looking at the health of the labor market is by examining labor force participation. During the Obama recovery, that rate has fallen as the Labor Department has stopped counting discouraged workers who’ve given up looking for work. During the Reagan Recovery, that rate rose as the unemployed flooded back into the job market.

Score one for Reagan.

In other words, under Obama the labor force participation rate has plummeted. Under Reagan the rate skyrocketed.

And lest we forget, after the first 37 months of Reagan’s recovery things got even better. Which no one expects to happen by continuing Obama’s policies.

But what’s another lie from Stephanie Cutter? Once you start calling Mitt Romney a felon, you have severed all ties with reality.

This article was posted by Steve on Thursday, August 23rd, 2012. Comments are currently closed.

8 Responses to “Cutter: Obama Created More Jobs Than Reagan”

  1. Astravogel says:

    I’d like some more of that rainbow pie and free bubble up please.

  2. Reality Bytes says:

    There comes a point when you have to ask “they’re either lying or ignorant, which is worse.” This proves it, THEY’RE BOTH!

  3. Rusty Shackleford says:

    Y’know, I’ve been standing here waiting for my free lunch since January of 2009…and I’m still waiting. But, looks like my hunger is subsiding. Yes, definitely. Best way to stave off hunger is to stop eating. At least, according to Obama-nomics. That’s how “trickle-up” works. If we all go hungry, then we won’t need to eat. It’s clearly logical.

  4. Rusty Shackleford says:

    Sununu on Obama: http://tinyurl.com/bljwjcn

  5. Rusty Shackleford says:

    I also love Mike Flynn’s headline for Breitbart: Cutter: I’m Just Going To Make S%&T Up About Jobs


  6. mr_bill says:

    More jobs than Reagan or Bush?! Remember the Bush “recession” when unemployment was 5%, GDP was growing at 3.5% and the left was telling us that it was the end of the world? Somehow, those times don’t seem so bad in comparison to today. Try telling the millions of people who were working during the Bush Presidency that they are better off now that Emperor nerobama is in charge and they haven’t worked in years. If nerobama’s “recovery” has been so wonderful, why do we still hear the left saying that we need to extend unemployment benefits (apparently the first 2 years of nerobama’s “recovery” wasn’t enough)?

    • Reality Bytes says:

      MB: Better yet, remember BJ Clinton claiming 2% GDP growth under 41 as being the worse economy in 50 years?! So much ammo so little balls in the RNC.

    • mr_bill says:

      RB, a couple of years ago, I would have disagreed with the lack of cojone sentiment. But, it’s become clear that there are a lot of Republicans who lack the stones to call a spade a spade.

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