I Spy Minute – Economy Doing Fine

Posted on June 11, 2012 by

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Obama says the economy is “doing fine.” Yeah. Sure. What to do when you make a major gaff? Blame Bush.

Take a listen: I Spy Minute Mon June 11 2012

Or read the transcript below…

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Last week, President Obama said the economy was “doing fine.” This was historic —it was the exact same thing Nero said at his press conference while Rome burned in the background.

There are a lot of numbers thrown around when it comes to job creation.

For example Obama has said, “in the last 22 months, businesses have created more than 3 million jobs.”

And that sounds impressive, until you look at the numbers. From July 2008 to January 2009 when Obama took office, we lost 3.5 million jobs

The losses continued until February 2010, losing another 4.3 million. So we’re not even halfway back to where we were before Obama took office.

Even worse are the jobs that should have been created. Obama seems happy when the economy adds 60,000 jobs in a month.

To keep pace with population growth and to get us back to pre-recession levels, we’d actually need to create over 1 million jobs per month from now until November

Maybe he should blame Bush for creating too many jobs during his two terms. If only Bush had done even worse, Obama could look better.

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