Tuesday, January 26, 2016

How the Obama economy overcame Republican sabotage

http://www.dailykos.com/stories/2016/1/24/1472698/-How-the-Obama-economy-overcame-Republican-sabotage
"As Barack Obama marks his seventh year in office, the resurgent American economy is posing a major problem for his Republican detractors. After years of denouncing the president's supposed "out of control spending," "job-crushing taxes," and "job-killing Obamacare," the pathetic GOP claim that Obama "made the economy worse" can't pass the laugh test. After all, the unemployment rate has been cut in half during his tenure as the private sector added jobs for a record 70 straight months. New jobless claims have dropped to their lowest level since 2007 while workers' ability to voluntarily switch jobs has increased. Even with its recent buffeting from China and the plummeting price of oil, the Dow Jones has doubled. All the while, the annual budget deficit has been slashed by two-thirds and inflation-adjusted federal spending has been lower than the day Barack Obama first took the oath of office."