Political Gum Hockey

Political Commentary and Humor

Parsing the current lie of convenience by the Republican party

Let’s take one of the numbers tossed out by the tea party ideologues and parse it because it demonstrates the kind of mindless regurgitation without any attempt to understand that dominates their thinking.

8.3% unemployment it was 7.8 when Obama took office

Any chart of the unemployment rate will show you that the rate had started a steep climb during the last year or two of the Bush administration. It was at 7.8% when Bush left office, but had been at 4.6% in 2007. Within the following year, still while Bush was in office, it had skyrocketed up to over 6% on its way up to the 7.8% when Bush left office and Obama was inaugurated.

Let’s stop here and remind people that unemployment rate is a lagging indicator. That means it slow to react going up or down. So the recession that started in 2007 under Bush took a while to have an impact on the unemployment rate. But when it gets going it keeps going. Big…and fast. So the rapid increase at the end of the Bush administration was guaranteed to keep skyrocketing for a long time. Which it did until it peaked at just over 10%.

It then started dropping, and this drop coincided with the stimulus package monies putting put into use. In short, Obama’s stimulus package helped stop the loss of jobs that Bush had started and started creating jobs. And we’ve been creating jobs ever since – 29 straight months now of private sector job creation. The unemployment rate is stuck around 8%, in part because Europe is dragging us down because they chose to fight the near depression by instituting austerity programs just like the ones the tea party has been trying to do here in the US. Overall, things are getting better.

Not bad. Especially when you consider that the tea party-held Republicans in Congress have voted AGAINST every single jobs package offered. Imagine how much better things would be if the tea party had stopped holding back the recovery. It’s simple. Without the tea party holding back the recovery and increasing the debt even more, the unemployment rate would be lower and the middle class would be seeing more of the recovery (they don’t as much now because the tea party keeps voting to take money from the middle class and give it to the super-rich, who hide it overseas from taxation).

September 6, 2012 Posted by | Uncategorized | , , , | 2 Comments