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    Why doesn’t Obama own some of the job losses between election and inauguration?

    Why doesn’t Obama own some of the job losses between election and inauguration?

    Obama endlessly cites the loss of 750,000 “per month” just before he took office, as if that bottom was destined to be continued forever but for Obama.

    It’s the extrapolation fallacy.

    This video pretty much sums up the theme:

    Yet why shouldn’t Obama own at least some of those job losses between his election and inauguration?

    Businesses plan ahead. And what businesses saw in Nov. 2008 – Jan. 2009 was exactly what we ended up experiencing, a massive imposition of the regulatory state on vast sectors of the economy, runaway deficits, hostility to the energy sector, and general gross incompetence.

    How many of those job losses were the result of businesses preparing for Obama? And how do we prove it?


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    alan markus | July 8, 2012 at 10:12 pm

    Here’s a similar chart that shows Job Creation by President – each bar represents a year – a longer time period “evens” out the differences between Bush & Obama on job creation. Like I said above, Obama just picked the time span that gives maximum effect to the jobs recently created: his 3 years versus Bush’s 1 year.

    Chart: Job Creation By President/Political Party

    Professor – I remember a time in Dec 2008 or Jan 2009 when Pelosi and Obama both acted and talked about possibly moving up the expiration of the Bush tax cuts from Jan 2011 to early 2009. They had control and they were flexing their muscle.

    Combined with that, remember raising the minimum wage in 2007. Remember they dug in their heals on reforming Fanny and Freddie. Bush went along with the minimum wage, but he tried (not hard enough) to address the mortgage standards.

    Chart the downturn in employment with the increase in minimum wages. Keep in mind that Pelosi and Obama’s implicit threats to move up the expiration of the Bush tax cuts on high income and small business. I wish I had the youtube but it must be out there somewhere. It would be devastating.

    I fully support your view here. Obama and the democrats own much more of this downturn and they should be tarred with it. Romney and his team has got to do a better job of correcting the lie promulgated by the Ds. In the course of doing it, they have to somewhat defend Bush, which I suppose they think is a problem. They need to fight back!

    I’m stunned. Considering who they are, why in the world would you expect them to?

    McCain co-owns some of the bars before election with Obama- either of them were going to be our commander in crisis…and either way we would have been screwed with a democrat controlled congress. Business owners new that.

    True Story: When the banking melt down started to take shape I assessed on the Saturday before labor day 2008 that McCain was an idiot and Obama was going to take us to hell economically. On Tuesday when the market opened I sold 80% of my portfolio and paid off my mortgage. The banks started falling like dominos w/in 3-7 days of that, if memory serves they started falling that Thursday with momentum really picking up the following week until the bottom in March.

    Since march 2009, I’ve been betting against Obama and congress by selling covered calls deep into the money.

    Talk about dodging a bullet. This week marks the 1 year anniversary since my business has had any billable projects, but I’m making decent coin predicting Obama’s failure. Seeing a disaster coming and preparing for it are two different animals. It pays to hunt both of them.

    FU Obama and the democrats who controlled the house and senate since 2006!

    Midwest Rhino | July 9, 2012 at 10:33 am

    Obama has not created jobs, he has redistributed them. From full time to part time. From high paying to low paying.

    Obama spends taxpayer money to save inefficient union jobs (GM, government workers) but attacks non-union job creation (Boeing, Gibson Guitar, oils rigs, oil pipeline, etc.).

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