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Thursday, June 7, 2012

Obama's Economic Recovery = Extraordinary (Failure)

From RSC Chairman Rep. Jim Jordan (OH-4) --
The jobs numbers that came out on Friday brought grim news. Last month’s increase of 69,000 jobs is far behind the pace needed even to keep up with population growth. Yet President Obama recently claimed at a campaign fundraiser that our economic “recovery” has been “extraordinary.” Unfortunately, the facts show otherwise.

In the chart below, the red line traces the rate of job growth from Feb. 2010, when the total number of jobs in America hit bottom. Compare that record to the brown line, which shows the average rate of job growth from the bottom of the previous 10 recessions. Based on this data, 4.3 million more Americans would have jobs today if only our economy had recovered at an average rate. Our kids deserve better than this.

When it comes to growing our economy, we shouldn’t be satisfied with anything less than extraordinary. Getting there will require us to make the right choice between a weak economy built on government subsidies and a strong one built on hard work and earned success. The president’s ideas aren’t working. Let’s try something that will.

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