Saturday, June 26, 2010

VP Joe Biden Gives Up on Restoring All Lost Jobs

CBS News reported:
Vice President Joe Biden gave a stark assessment of the economy today, telling an audience of supporters, "there's no possibility to restore 8 million jobs lost in the Great Recession."

Here is a jobs loss/gain chart for this recession from Steve Benen at Washington Monthly's Political Animal blog. It is notable he highlights the Bush job losses in red and Obama job losses/gains in blue.

The chart shows huge job losses of over 200,000 per month during the last five months of the Bush administration and first nine months of the Obama administration. The chart makes it look like the job market has turned around during the last three months. If this is true, why doesn't VP Joe Biden think we can recover the lost jobs? The reason is Joe Biden isn't the complete buffoon many believe him to be. He knows the April and May numbers are pumped up by hundreds of thousands of temporary workers hired for the 2010 Census.


Anonymous said...

I'd like to say he is wrong, but the current anti-business atmosphere, created in a large part by this administration, is a self-fulfilling prophecy.

Anonymous said...

How about an update? What does the Benen chart look like now?