Intermarkets' Privacy Policy
Support


Donate to Ace of Spades HQ!





Recent Entries
O. M. G.: Amnesty International, Other "Human Rights Groups" Say Gilad Shalit Should Remain Illegally In Terrorist Jail | Main | College Democrats Unleash Powerful New Ad: We're Democrats, Because We're Upper-Middle-Class White Kids, But We Also Ran Into These Two Black People At A Macy Gray Concert
June 27, 2011

Obama's The One? How About Obama's the 0.8

Recovery Bummer.

In a report entitled "Unchartered Depths," the Committee finds that "employment is now 5.0% below what it was at the start of the recession, 38 months ago. This compares to an average rise in employment of 3.7% over the same period in prior post-WWII recessions." [Emphasis added and do note he's not talking about the unemployment rate but total employment, that is, workforce as a fraction of total population -- ace]

On economic growth, real GDP has risen 0.8% over the 13 quarters since the recession began, compared to an average increase of 9.9% in past recoveries. From the beginning of the recession to April 2011, real personal income has grown just .9% compared to 9.4% for the same period in previous post 1960 recessions. [I do not know the exact definition of "real GDP" he means but I would guess it's the standard figure, less inflationary growth and probably less population growth, too. In any event, you can see the wide disparity between Obama's real GDP growth figure and the average real GDP growth in actual recoveries -- ace.]

The standard response from Obama apologists is that recession of 2008 and 2009 was different because, as former Clinton administration economist Robert Shapiro puts it, "this was a financial crisis, and these take longer to recover from." In fact, in most cases, the deeper the recession, the stronger the recovery to make up for lost ground.

That was what Ronald Reagan's critics said when the U.S. economy soared during 1983 and 1984 with quarterly growth numbers exceeding 7%. At the time, liberal Keynesians yawned and declared the good times nothing more than a normal snapback from the deep recession.

On the plus side, Obama reads the shit out of a TelePrompTer at 8.8% increase over most presidents in a post-recession economy.

Dean Vernon Wormer Comments:

Zero point eight. It's more than a little below par, Mr. Obama. IT STINKS! It's the lowest on campus. It's the lowest in Faber history!

Boy, I am not feeling well, to keep missing these references that are just there for the plucking.

I Was Told There Would Be No Math In This Presidency: Crossroads PAC, a Karl Rove joint, starts a big-money tv ad campaign on... the economy, stupid.


digg this
posted by Ace at 05:55 PM

| Access Comments




Recent Comments
Regular Guy: "ONT is up!! ..."

Carol: "Hrothgar, I should keep old encyclopedias parents ..."

GGE of the Moron Horde, NC Chapter: "FWIW, the Tomcat was originally a variant of the F ..."

t-bird: "Well, I guess I have something in common with Hill ..."

Theodore Rex: "Pretty good for a rush job. ..."

Jinx the Cat: "I've been listening to Augusta Co. Va F&R, and not ..."

Dr. Varno: "back, and to the left back, and to the left ..."

hmitchell3rd: "Whoa! Another early ONT. Scorching hot. ..."

Where Eagles Fly: "[i]who flies the F-15 anymore?[/i] Everyone who ..."

The Political Hat: "ONT up. ..."

Misanthropic Humanitarian : ">>>Perhaps being around 30 sweaty lathered up fell ..."

The Political Hat: "The Queering of Oppression Yet another exa ..."

Recent Entries
Search


MuNuvians
Polls! Polls! Polls!
Frequently Asked Questions
The (Almost) Complete Paul Anka Integrity Kick
Top Top Tens
Greatest Hitjobs

The Ace of Spades HQ Sex-for-Money Skankathon
A D&D Guide to the Democratic Candidates
Margaret Cho: Just Not Funny
More Margaret Cho Abuse
Margaret Cho: Still Not Funny
Iraqi Prisoner Claims He Was Raped... By Woman
Wonkette Announces "Morning Zoo" Format
John Kerry's "Plan" Causes Surrender of Moqtada al-Sadr's Militia
World Muslim Leaders Apologize for Nick Berg's Beheading
Michael Moore Goes on Lunchtime Manhattan Death-Spree
Milestone: Oliver Willis Posts 400th "Fake News Article" Referencing Britney Spears
Liberal Economists Rue a "New Decade of Greed"
Artificial Insouciance: Maureen Dowd's Word Processor Revolts Against Her Numbing Imbecility
Intelligence Officials Eye Blogs for Tips
They Done Found Us Out, Cletus: Intrepid Internet Detective Figures Out Our Master Plan
Shock: Josh Marshall Almost Mentions Sarin Discovery in Iraq
Leather-Clad Biker Freaks Terrorize Australian Town
When Clinton Was President, Torture Was Cool
What Wonkette Means When She Explains What Tina Brown Means
Wonkette's Stand-Up Act
Wankette HQ Gay-Rumors Du Jour
Here's What's Bugging Me: Goose and Slider
My Own Micah Wright Style Confession of Dishonesty
Outraged "Conservatives" React to the FMA
An On-Line Impression of Dennis Miller Having Sex with a Kodiak Bear
The Story the Rightwing Media Refuses to Report!
Our Lunch with David "Glengarry Glen Ross" Mamet
The House of Love: Paul Krugman
A Michael Moore Mystery (TM)
The Dowd-O-Matic!
Liberal Consistency and Other Myths
Kepler's Laws of Liberal Media Bias
John Kerry-- The Splunge! Candidate
"Divisive" Politics & "Attacks on Patriotism" (very long)
The Donkey ("The Raven" parody)
News/Chat
Archives
Powered by
Movable Type 2.64