Obama/Reagan On Jobs, Growth & Investing

[Chris]

Obama, like his Presidential doppleganger -Jimmy Carter, is a failure on every level.

Amazingly, despite Democrats best efforts, Jimmy Carter's Presidency is still remembered for what it was- a total failure on all fronts. Obama will be no different, Even fervent attempts at revisionist history and hagiography will not change things.

Carter did some (laudable) work at Habitat for Humanity.......Maybe Obama can build golf courses for the poor when he gets out?

The 3 rules of republican lying...deny, deny, deny.

 

[Chris]

In 2008 our economy went thourgh the worst recession since 1929.Obama took office in 2009 and did the following to help:
- Passed the stimulus without even one Republican vote: As soon as the stimulus passed job growth and unemployment claims started to recover. In all the stimulus ended up suppoorting about 3.5 miilion jobs.
- Bailed out the auto industry: the U.S. auto industry has added nearly 250,000 jobs -- the fastest pace of job growth in more than a decade.
- Passed middle-class tax cuts that provided tax relief for 160 million workers and helped jumpstart the economy.
- Expanded and Accelerated Payment on Government Contracts: The first two years of the Obama Administration saw the largest two-year increase in the percentage of federal contracting dollars going to small businesses in a decade.
And while businesses have created more than 9.7 million private sector jobs in the past 52 months Republcans have blocked the following economic purposals:
- A private-public jobs bill (Reagan idea) that would have been fully paid for and added another 1 million jobs.
- Comprehensive corporate tax reform: this would have stopped rewarding businesses that ship jobs overseas.
- A minimum wage increase: this would have benefited 16 miilion low wage Americans by putting more money in their pockets, and the economy that is 70% based on consumer spending.

 

[The Rabbi]

A conservative writer at Forbes Magazine, Adam Hartung, proves Obama is the best modern president economically.

Better than reagan.

Before all you right wingers claim Mr. Hartung is a liberal, he made two small donations in the 2012 election. Both of them for romney.

Obama Outperforms Reagan on Jobs, Growth and Investing

Adam Hartung - $500 in Political Contributions for 2012

Trickle down doesn't work.

Trickle down doesnt exist.
Supply side economics works. Proven every time. Democratonomics is a total failure. Proven every time.

 

[Stephanie]

In 2008 our economy went thourgh the worst recession since 1929.Obama took office in 2009 and did the following to help:
- Passed the stimulus without even one Republican vote: As soon as the stimulus passed job growth and unemployment claims started to recover. In all the stimulus ended up suppoorting about 3.5 miilion jobs.
- Bailed out the auto industry: the U.S. auto industry has added nearly 250,000 jobs -- the fastest pace of job growth in more than a decade.
- Passed middle-class tax cuts that provided tax relief for 160 million workers and helped jumpstart the economy.
- Expanded and Accelerated Payment on Government Contracts: The first two years of the Obama Administration saw the largest two-year increase in the percentage of federal contracting dollars going to small businesses in a decade.
And while businesses have created more than 9.7 million private sector jobs in the past 52 months Republcans have blocked the following economic purposals:
- A private-public jobs bill (Reagan idea) that would have been fully paid for and added another 1 million jobs.
- Comprehensive corporate tax reform: this would have stopped rewarding businesses that ship jobs overseas.
- A minimum wage increase: this would have benefited 16 miilion low wage Americans by putting more money in their pockets, and the economy that is 70% based on consumer spending.

well you go kiss the ground he walks on. Half of what you listed is meaningless in our lives and the other spent us into more dept. now he wouldn't have a 70% disapproval by the people in this country if he were this hero you make him out to be in your posting . People would be in the streets throwing flowers at his car as he sped past without a glance

People aren't buying what you Obots are selling. must suck

and Obama will never be a Ronald Reagan.

 

[CrusaderFrank]

Trickle down is the economic equivalent of Manmade Global Warming. Both concepts are total bullshit made up by Marxists who hate free enterprise

 

[The Rabbi]

If idiot libs didnt cherry pick data, they'd have no data at all.
This country was better off the day Bush left office than any day Obama has been in office.

Nope. As if I give a fuck what you believe anyway. There is no way to have a serious conversation with you about anything, you are so infected with ODS. Fuggedaboudit.

You dont give a fuck about anything that contradicts your own little view of the universe. That's why you're stupid.

 

[The Rabbi]

In 2008 our economy went thourgh the worst recession since 1929.Obama took office in 2009 and did the following to help:
- Passed the stimulus without even one Republican vote: As soon as the stimulus passed job growth and unemployment claims started to recover. In all the stimulus ended up suppoorting about 3.5 miilion jobs.
- Bailed out the auto industry: the U.S. auto industry has added nearly 250,000 jobs -- the fastest pace of job growth in more than a decade.
- Passed middle-class tax cuts that provided tax relief for 160 million workers and helped jumpstart the economy.
- Expanded and Accelerated Payment on Government Contracts: The first two years of the Obama Administration saw the largest two-year increase in the percentage of federal contracting dollars going to small businesses in a decade.
And while businesses have created more than 9.7 million private sector jobs in the past 52 months Republcans have blocked the following economic purposals:
- A private-public jobs bill (Reagan idea) that would have been fully paid for and added another 1 million jobs.
- Comprehensive corporate tax reform: this would have stopped rewarding businesses that ship jobs overseas.
- A minimum wage increase: this would have benefited 16 miilion low wage Americans by putting more money in their pockets, and the economy that is 70% based on consumer spending.

Congress passes legislation, not the president.
The stimulus was the most failed program in history, failing to live up to promises the administation itself made.
The economy was bottoming out when Obama came in and would have recovered much more strongly without all that government intervention, which left us indebted with a lower credit rating.

 

[Iceweasel]

Trickle down doesn't work.

It did for me. Were you working then?

 

[Jroc]

Waver here, waver there, Implement Obama's policies as written. Implement his "global warming" carbon tax scam. Obama and the liberal nutjobs block our energy production and keystone. The economy is in a lackluster recovery because of Obama and it would be worst if he had his way

 

[Jroc]

Unemployment Rates are Alike

But the reasons behind the drop in unemployment rates are disguised by the above chart.
The chart below shows exactly why the unemployment rate drops: those not in the labor force are at a record 91.8 million

Reagan’s “recovery” came from an expanding labor market, and not from a shrinking one.

Reagan’s economy created 15.8 million new jobs, but Obama’s has only produced 3.2 million over five years. And… fewer people are working now than six years ago.

3. 1,687,000 Fewer People Working Than Six Years Ago

Wait, it gets worse. Reagan-bashers accuse of him of worsening income inequality, which would be the case if we ignore that all income levels rose under Reagan.
These same critics let Obama off the hook for actually worsening income inequality: while the top 1% has made 95% of the income gains, the middle class has been decimated.
4. Income Inequality Worse Under Obama Than Reagan

.

No wonder the American people tended to love Reagan, while Obama is falling out of favor.

Reagan vs. Obama These 5 Charts Prove Who Was the Better President

 

[Stephanie]

Unemployment Rates are Alike

But the reasons behind the drop in unemployment rates are disguised by the above chart.
The chart below shows exactly why the unemployment rate drops: those not in the labor force are at a record 91.8 million

Reagan’s “recovery” came from an expanding labor market, and not from a shrinking one.

Reagan’s economy created 15.8 million new jobs, but Obama’s has only produced 3.2 million over five years. And… fewer people are working now than six years ago.

3. 1,687,000 Fewer People Working Than Six Years Ago

Wait, it gets worse. Reagan-bashers accuse of him of worsening income inequality, which would be the case if we ignore that all income levels rose under Reagan.
These same critics let Obama off the hook for actually worsening income inequality: while the top 1% has made 95% of the income gains, the middle class has been decimated.
4. Income Inequality Worse Under Obama Than Reagan

.

No wonder the American people tended to love Reagan, while Obama is falling out of favor.

Reagan vs. Obama These 5 Charts Prove Who Was the Better President

Excellent post my dear
good job

 

[Plasmaball]

The chart tells the tale. The Far Right just can't handle the truth from a Conservative source.

Reagan was solely responsible for ending the Soviet Union. Obama donates to Syrian rebels and Hamas. He pulls troops out of Iraq and is solely responsible for the barbarity occurring in Iraq and Syria. Christians are being slaughtered and he plays golf. Reagan's foreign policy far surpassed Obama's. Reagan toppled an entire country without firing a shot, Obama can't even topple a radical Islamist terror cell consisting of roughly 100,000 fighters. So spam your charts and take your victory lap, Reagan was far better than Obama will ever be. He had the courage Obama lacks.

irrelevant to anything...But neat deflection

 

[Plasmaball]

I gotta go to work Unlike some of you people, but any idiot who thinks this economy is doijng well is seriously delusional. incomes are not rising, almost half the jobs created are part time jobs and Obamacare isn't even fully implemented yet, which will make things worst. The black unemployment rate is almost 12%. There is no comparison to the boom of the Reagan economy none..... The very "rich" are doing quite well under Obama. they like the artificially propped up stock market, they make lots of money

incomes are not rising but when people want 15$ an hour you people cry like bitches about how they dont deserve it. Its always something with you people.

 

[Faun]

Now, as to the actual information in the OP, here is a chart that was provided at the link. That chart pretty much says it all:

Only a fool thinks that chart says it all. How many people are underemployed, on disability or dropped out of the job market altogether? Those are important factors to consider, ignoring them is propaganda.

Of course Statistheilhitler is an illiterate masquerading as a buffoon.
Here are two charts that speak volumes: Notice that during Reagan's recovery the participation rate increased. This is because a rising economy encourages people to re enter the workforce. The opposite of Obama.

Only an imbecile would look at those charts and ignore the impact of retiring baby boomers on the latter.

Only an imbecile would pick one talking point and think it explains everything. Then again, look who's posting: Faun, the Fail of USMB.

Only an imbecile would try to dismiss retirees as a "talking point."

Looks like you're the imbecile here. Queuing the "it's just an opinion" nonsense in 3..2...1...
U.S. Unemployment Retirees Are Not The Labor Exodus Problem - Forbes

Nah, the imbecile here is the one who is posting rightwingnut opinions and then foreshadowing such idiotic opinions will of course be summarily dismissed because they're nothing but rightarded opinions.

Here's what an actual study on declining labor force looks like...

http://www.bls.gov/opub/mlr/2013/ar...orce-participation-rate-continues-to-fall.pdf

And your own link supports my posiition and refutes yours. There are more older people in the workforce than previously.
Nice work.

It's as if I'm talking to a 4 year old. Your brain truly can't process this. The link supports my position as the biggest reason for the drop as directly attributable to retiring baby boomers.

It's hysterical how you think because more people entered the 55+ employed category, that somehow translates into baby boomers retiring having maybe only a tangent affect on the not in labor force category.

What your feeble brain can't figure out is that both are true in that the 55+ employed group can grow AND baby boomers can retire in big numbers to have a big impact on the not in labor force group.

Of course the 55+ employed group is growing. They're the baby boomers hitting retirement age. As they age, they are shifting from the under 55 and employed category to the 55 and over category.

At the same time, baby boomers are retiring in record numbers. Starting in 2008, they began hitting the age of 62. Before then there were about half a million people retiring a year. Since then, that number has doubled.

And how much of an impact are baby boomers having on the not in labor force group?

Since 2008 when baby boomers first started hitting the age of 62, there has been an average of about 1.1 million baby boomers retiring each year, according to Social Security figures (Social Security Beneficiary Statistics)

Over the last 12 months, there have been 1.7 million people added to the not in labor force group (Not in Labor Force)

Studies estimate that about half of those falling out of the labor force are baby boomers retiring; and the numbers above in red support that. They represent the biggest block of folks affecting the fall in the labor force participation rate. Followed by the 24 and younger group choosing school over work and folks receiving welfare/disability rather than working.​

 

[TemplarKormac]

Some of you may have not picked up on this yet, but it isn't about the quantity of jobs, it's a combination of quantity and quality. Simple. What good are part time jobs when the "part time" runs out? Saying Obama created jobs is only half correct, he created part time jobs. They are no good for people who need to support a family. So how did he do better than Reagan?

 

[TemplarKormac]

In 2008 our economy went thourgh the worst recession since 1929.Obama took office in 2009 and did the following to help:
- Passed the stimulus without even one Republican vote: As soon as the stimulus passed job growth and unemployment claims started to recover. In all the stimulus ended up suppoorting about 3.5 miilion jobs.
- Bailed out the auto industry: the U.S. auto industry has added nearly 250,000 jobs -- the fastest pace of job growth in more than a decade.
- Passed middle-class tax cuts that provided tax relief for 160 million workers and helped jumpstart the economy.
- Expanded and Accelerated Payment on Government Contracts: The first two years of the Obama Administration saw the largest two-year increase in the percentage of federal contracting dollars going to small businesses in a decade.
And while businesses have created more than 9.7 million private sector jobs in the past 52 months Republcans have blocked the following economic purposals:
- A private-public jobs bill (Reagan idea) that would have been fully paid for and added another 1 million jobs.
- Comprehensive corporate tax reform: this would have stopped rewarding businesses that ship jobs overseas.
- A minimum wage increase: this would have benefited 16 miilion low wage Americans by putting more money in their pockets, and the economy that is 70% based on consumer spending.

-Passed the stimulus without even one Republican vote: As soon as the stimulus passed job growth and unemployment claims started to recover. In all the stimulus ended up supporting about 3.5 million jobs.

Uh-huh. So ramming a piece of legislation down Republicans throats was what James Madison spoke of and against in Federalist #10. The minority party has the right not to be trampled upon by the majority. The minority has equal rights as it applied to both government and the citizenry. Such behavior was deemed oppressive by Madison. On the other hand, Obama claimed businesses created 8 million jobs, while that was true, it was cherry picking. Only 3.2 million jobs were created in fact. In fact at the time he made that claim, there was 1.2 million jobs less than before the recession began in 2007.

As cited by the Washington Post:

State of the Union address

“The more than eight million new jobs our businesses have created over the past four years.”

The president is cherry-picking a number that puts the improvement in the economy in the best possible light. The low point in jobs was reached in February 2010, and there has indeed been a gain of about 8 million jobs since then, according to Bureau of Labor Statistics data. (Obama, saying “businesses,” appears to be referring to private sector growth of 8.2 million; adding government jobs reduces the total to 7.6 million.) But the data also show that since the start of his presidency, about 3.2 million jobs have been created — and the number of jobs in the economy still is about 1.2 million lower than when the recession began in December 2007.

Fact Checking the 2014 State of the Union address - The Washington Post

And while businesses have created more than 9.7 million private sector jobs in the past 52 months, Republicans have blocked the following economic proposals:
- A private-public jobs bill (Reagan idea) that would have been fully paid for and added another 1 million jobs.
- Comprehensive corporate tax reform: this would have stopped rewarding businesses that ship jobs overseas.
- A minimum wage increase: this would have benefited 16 million low wage Americans by putting more money in their pockets, and the economy that is 70% based on consumer spending.

And as of September 1, 2014, there were 9.6 million people still out of work. Which in the long run doesn't speak well for Obama's policies. The employment rate barely changed at all as demonstrated here:

In August, both the unemployment rate (6.1 percent) and the number of unemployed
persons (9.6 million) changed little. Over the year, the unemployment rate and the number of unemployed persons were down by 1.1 percentage points and 1.7 million, respectively.

Employment Situation Summary

In 2009-11, Republicans were powerless to propose any legislation, such legislation would have been rejected immediately by Democrats in both houses.

That private-public jobs bill needs to have a name, by the way, so does this 'comprehensive corporate tax reform.' And a minimum wage increase was only proposed for the public sector and government jobs. This economy is $17.5 trillion in debt, the only way consumer spending would help is if taxes were to be devoted to paying the debt down. So far, Obama has proposed multi-trillion dollar bills, and went over 1000 days before proposing another. Raising the minimum wage would cause many business to cut jobs and put more people out on the street. Also, BLS statistics also say that the 6.1% unemployment rate is not due solely to job creation, but those leaving the workforce.

In July and August of this year, 1,516,000 Americans alone dropped out of the workforce. Since they are no longer counted in future BLS statements, the unemployment rate will inevitably drop in future tabulations:

Employment Situation Summary Table A. Household data seasonally adjusted

Furthermore, unemployment for African Americans sat at 11.4 percent as of August, Teenagers at 19.6 percent. Also as of May 2014, 46,496,145 Americans were on SNAP or Food Stamps.

I might also add that the Bush administration oversaw 46 consecutive months of positive job creation from September 2003 to June and July of 2007 plus 50 of 52 months of job creation in that time period. Before the recession in December 2007, Federal tax revenue was at its highest level ($2.57 trillion) since 1934, when statistics of this nature were first recorded.

You my friend are a spin doctor.

 

[Faun]

Some of you may have not picked up on this yet, but it isn't about the quantity of jobs, it's a combination of quantity and quality. Simple. What good are part time jobs when the "part time" runs out? Saying Obama created jobs is only half correct, he created part time jobs. They are no good for people who need to support a family. So how did he do better than Reagan?

It's quite refreshing to see righties finally showing empathy for part time workers since you didn't give a shit about them while Bush was president. Under Obama, there have been 1.366 million part time jobs added; or 20,388 per month on average. But under Bush, there were 2.954 million part time jobs added; or 30,771 per month on average. Despite both presidents added just over 4 million jobs in total.

1/2001: 23,423,000
1/2009: 26,377,000
8/2014: 27,743,000

Employed, Usually Work Part Time

Even though the issue of part time employment increased far more under Bush, righties never once complained about it. Yet it's all y'all can talk about now.

 

[TemplarKormac]

Some of you may have not picked up on this yet, but it isn't about the quantity of jobs, it's a combination of quantity and quality. Simple. What good are part time jobs when the "part time" runs out? Saying Obama created jobs is only half correct, he created part time jobs. They are no good for people who need to support a family. So how did he do better than Reagan?

It's quite refreshing to see righties finally showing empathy for part time workers since you didn't give a shit about them while Bush was president. Under Obama, there have been 1.366 million part time jobs added; or 20,388 per month on average. But under Bush, there were 2.954 million part time jobs added; or 30,771 per month on average. Despite both presidents added just over 4 million jobs in total.

1/2001: 23,423,000
1/2009: 26,377,000
8/2014: 27,743,000

Employed, Usually Work Part Time

Even though the issue of part time employment increased far more under Bush, righties never once complained about it. Yet it's all y'all can talk about now.

Even still, there are people who want permanent jobs, not part time jobs? In 2013 alone, 1 permanent job was created for every 4 part time jobs. Obamacare was solely to blame, as in 2012 there were 6 permanent jobs to 1 part time job. That is a colossal flip. Moreover, that's 27 million people working subpar jobs this year instead of having a full time job available to them why? Obamacare. And you wonder why so many people struggle to get by? What has Obama done to drop that number? The fact is, it still increased under his presidency, by 1,366,000 as you pointed out. So in all, Obama is just as responsible for this as Bush was. You can't just absolve Obama of any responsibility for this. You missed the bigger picture by a mile. Missing the forest for the trees. There needs to be more permanent jobs created than part time regardless of who is president or what party is presiding. No wonder we can't get more people to work, we have politicians who don't give a crap either way. It's Democrats as much as Republicans.

 

[Faun]

Some of you may have not picked up on this yet, but it isn't about the quantity of jobs, it's a combination of quantity and quality. Simple. What good are part time jobs when the "part time" runs out? Saying Obama created jobs is only half correct, he created part time jobs. They are no good for people who need to support a family. So how did he do better than Reagan?

It's quite refreshing to see righties finally showing empathy for part time workers since you didn't give a shit about them while Bush was president. Under Obama, there have been 1.366 million part time jobs added; or 20,388 per month on average. But under Bush, there were 2.954 million part time jobs added; or 30,771 per month on average. Despite both presidents added just over 4 million jobs in total.

1/2001: 23,423,000
1/2009: 26,377,000
8/2014: 27,743,000

Employed, Usually Work Part Time

Even though the issue of part time employment increased far more under Bush, righties never once complained about it. Yet it's all y'all can talk about now.

Even still, there are people who want permanent jobs, not part time jobs? In 2013 alone, 1 permanent job was created for every 4 part time jobs. Obamacare was solely to blame, as in 2012 there were 6 permanent jobs to 1 part time job. That is a colossal flip. Moreover, that's 27 million people working subpar jobs this year instead of having a full time job available to them why? Obamacare. And you wonder why so many people struggle to get by? What has Obama done to drop that number? The fact is, it still increased under his presidency, by 1,366,000 as you pointed out. So in all, Obama is just as responsible for this as Bush was. You can't just absolve Obama of any responsibility for this. You missed the bigger picture by a mile. Missing the forest for the trees. There needs to be more permanent jobs created than part time regardless of who is president or what party is presiding. No wonder we can't get more people to work, we have politicians who don't give a crap either way. It's Democrats as much as Republicans.

No, actually what I wonder is where you get this nonsense from? Where did you hear that there were 4 part time jobs for every permanent job in 2013?

You can't lie, the numbers are right here ...

full time employment, 2013: +1,543,000
part time employment, 2013: -188,000

Do you see that? The entire premise of your post is complete bullshit. Not only is your claim of a 4 to 1 ratio of part time jobs vs permanent jobs a complete fabrication ... but the number of part time jobs during 2013 actually fell.

And again I note, not a peep from you righties when Bush added 3 million part time jobs out of little more than 4 million jobs total.

Bush ....... 8 years, 1.6 million permanent jobs
Obama ... 5½ years, 2.8 million permanent jobs (and that's starting with the Great Recession Bush handed him)

Righties bitch and moan about Obama but never said a word about Bush.

Is it starting to sink in why so few take you guys seriously?

 

[TemplarKormac]

Some of you may have not picked up on this yet, but it isn't about the quantity of jobs, it's a combination of quantity and quality. Simple. What good are part time jobs when the "part time" runs out? Saying Obama created jobs is only half correct, he created part time jobs. They are no good for people who need to support a family. So how did he do better than Reagan?

It's quite refreshing to see righties finally showing empathy for part time workers since you didn't give a shit about them while Bush was president. Under Obama, there have been 1.366 million part time jobs added; or 20,388 per month on average. But under Bush, there were 2.954 million part time jobs added; or 30,771 per month on average. Despite both presidents added just over 4 million jobs in total.

1/2001: 23,423,000
1/2009: 26,377,000
8/2014: 27,743,000

Employed, Usually Work Part Time

Even though the issue of part time employment increased far more under Bush, righties never once complained about it. Yet it's all y'all can talk about now.

Even still, there are people who want permanent jobs, not part time jobs? In 2013 alone, 1 permanent job was created for every 4 part time jobs. Obamacare was solely to blame, as in 2012 there were 6 permanent jobs to 1 part time job. That is a colossal flip. Moreover, that's 27 million people working subpar jobs this year instead of having a full time job available to them why? Obamacare. And you wonder why so many people struggle to get by? What has Obama done to drop that number? The fact is, it still increased under his presidency, by 1,366,000 as you pointed out. So in all, Obama is just as responsible for this as Bush was. You can't just absolve Obama of any responsibility for this. You missed the bigger picture by a mile. Missing the forest for the trees. There needs to be more permanent jobs created than part time regardless of who is president or what party is presiding. No wonder we can't get more people to work, we have politicians who don't give a crap either way. It's Democrats as much as Republicans.

No, actually what I wonder is where you get this nonsense from? Where did you hear that there were 4 part time jobs for every permanent job in 2013?

You can't lie, the numbers are right here ...

full time employment, 2013: +1,543,000
part time employment, 2013: -188,000

Do you see that? The entire premise of your post is complete bullshit. Not only is your claim of a 4 to 1 ratio of part time jobs vs permanent jobs a complete fabrication ... but the number of part time jobs during 2013 actually fell.

And again I note, not a peep from you righties when Bush added 3 million part time jobs out of little more than 4 million jobs total.

Bush ....... 8 years, 1.6 million permanent jobs
Obama ... 5½ years, 2.8 million permanent jobs (and that's starting with the Great Recession Bush handed him)

Righties bitch and moan about Obama but never said a word about Bush.

Is it starting to sink in why so few take you guys seriously?

Really now? Why is it now that you're bitching about it? Do you actually care or are you whining for sake of argument? Do you realize how little this has to do with this thread? That 'great recession' lasted for almost nearly three more years while Obama floundered and Democrats failed to pass any jobs legislation. Part time numbers regularly rise and fall, but in all during his presidency they have gone up.

Does it sink in that you still missed the point yet? From 2001 to 2004, Bush only created 75,000 jobs. But from 2004 to 2008, four years mind you, he created 4,025,000 net jobs. In January 2001 when Bush took office, there were a total of 130,747,000 nonfarm laborers in the workforce, by December 2008, there were 134,774,000 people in the workforce. Bush created 4,102,000 net jobs until the recession hit. You must understand that from September 2001 to December 2002, the US economy was in a recession, understandably a result of the 9/11 attacks. But from 2003 to 2006 the economy sprang back to life, creating 5,590,000 jobs. In Obama's economic recovery from 2010 to 2012 after the meltdown in October 2008, 3,510,000 jobs were created. So, tell me, who was wrong here? That's a 2,080,000 jobs difference. Obama's recovery is (or was) a lot weaker, noticeably because of the implementation of Obamacare.