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hfojvt's Journal
Posted by hfojvt in General Discussion
Mon Feb 14th 2011, 01:24 PM
That may have been at the halfway point as money was scheduled to be spent in 2010. But here are job reports by quarter

2008
1st (93,000)
2nd (573,000)
3rd (1,002,000)
4th (1,895,000)
total (with Bush as President) (3,563,000)

2009
1st (2,258,000) note - Obama was sworn in as President and the stimulus passed in the middle of this quarter
2nd (1,433,000)
total (in Obama's first five months in office (3,691,000)

3rd (780,000)
4th (310,000)
total of the last half year (1,090,000)

That the economy was no longer losing 1,000,000+ jobs every quarter is a very positive thing. The economy was in free fall and the stimulus was like a parachute. When you open a parachute, you keep falling, but at a much slower rate so that the landing does not kill you.

2010
1st +118,000
2nd +543,000
3rd (137,000)
4th +385,000
total 2010 + 909,000

Considering where we were and the rate at which the economy was falling, I consider the stimulus to have been a smashing success.
To go from losing over 3 million jobs a year for two years to almost a million job gain is a very fast turnaround. It is much quicker than things turned around under Reagan in 1982.

But for some reason, now the media is all doom and gloom "oh my gosh the economy is not recovering fast enough". And the left if flogging that horse too "oh woe and misery and doom".

And those who keep picking at the bank bailout are misguided as well. If the financial system had collapsed (something that was considered a serious threat) we would still be trying to pick up the pieces, if not sunk into chaos with riots and looting and martial law. Imagine millions not having electricity last winter or food, because all of the pipelines and trucks that deliver food and fuel depends on a financial system to keep them running, and if it fails we cannot rebuild it that quickly.

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