Also not where “The Worst Economy in the Last 50 Years” stands. That one is the 1990 recession, which is the black line.
For those who don’t remember (or are too young), Clinton used that phrase in 1992 to throw Bush-41 out of office. It was a lie, of course (as seen on the chart), but the media had no interest in getting to the truth.
Worst Job Records Since The Great Depression?
November 5, 2006
Nancy Pelosi comes out of hiding to drop this little pearl of wisdom on us:
While we are glad there is some good news for the American people, this jobs report does not fundamentally change the fact that President Bush’s handling of the economy is not good for America’s middle-income families,” Pelosi charged in a statement released after the Labor Department put out its October numbers.
“The President has the worst jobs record since the Great Depression, and the economy is slowing due to the housing slump. The budget and trade deficits as well as public debt levels have all climbed to record levels,” Pelosi said.
Worst jobs record since the Great Depression? Let’s analyze that a bit.
First, a run down of recent economic data:
Unemployment down to 4.4%.
92,000 new jobs created in October.
470,000 new jobs over the last three months.
Our economy has now added jobs for 38 straight months.
Real, after-tax income has risen by 9.8% in the last six years. That’s $2,660, on average, that’s staying in the pocket of every single American rather than going to the government in taxes.