The Worst Five Years Since the Great Depression

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Yes, Bush crashed our economy in 2008.

Whom controlled congress in 2008?

 

[bigrebnc1775]

Yes, Bush crashed our economy in 2008.

It was worse than that:

Bush had the worst track record for job creation since the government began keeping records and job creation under his tenure was anemic long before the recession began. Bushs supply-side economics fostered the weakest jobs and income growth in more than six decades, along with sluggish business investment and weak gross domestic product growth.

Whether Republicans are really slow learners, or they are so ideologically driven that they are unable to step away from their disastrous right-wing ideology for one minute to deal with reality, doesn’t matter.

Reagan and the Bushes accomodated corporations and the wealthy and the chickens have come home to roost.

obama took the keys and drove us out of the ditch and over the cliff.

 

[bigrebnc1775]

Instead what America got by year five was fewer jobs than before. Even though the employment age population has increased by nearly 12 million since January, 2008, there are now 3 million fewer Americans working, with employment declining from 146.3 million in January, 2008 to 143.3 million in December, 2012. If America enjoyed the same labor force participation rate as in 2008, the unemployment rate in December, 2012 would have been 11.4%, compared to 4.9% in December, 2007, under President George Bush and his “failed” economic policies of the past. We won’t see 4.9% unemployment in America again until the statest takeover of America is purged.