Reality About Job Situation
It is no secret that I believe the 2009 Stimulus worked and truly turned around the faltering (wildly collapsing) economy that this country faced.
Obviously, we would like to see even faster job creation, but the idea that President Obama has failed just doesn't comport with the facts.
Any fair and objective look at the actual monthly job creation/losses numbers demonstrates how far we had fallen at the end of the Bush Presidency and how far we have recovered during the Obama Presidency.
From 2005-2008 (Bush's second term), we saw steady declines in the annual net jobs numbers:
2005 - 2.5 million jobs
2006 - 2.1 million jobs
2007 - 1.1 million jobs
2008 - -3.6 million jobs
By the end of the Bush Presidency the nation was bleeding jobs at a horrible pace with hundreds of thousands of jobs being lost every month. It is easy to see the horrible figures in 2008 that clearly worsened month after month. In January 2009, when President Obama took office, the U.S. economy shed 818,000 jobs.
The Stimulus was passed in late February 2009 and one can see that within three months the jobs numbers had significantly improved. In the last two and a half years we have seen about 4 million net jobs created. Certainly the trends are now in the right direction. It took years to create the horrible mess at the end of Bush Presidency and it will take years to correct the mess, but at least we are on our way.