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In response to:

LIVE COVERAGE: RNC 2012 Wednesday Speeches

lydia45 Wrote: Aug 29, 2012 11:21 PM
The POTUS did not raid Medicare. The $716 billion are actually savings over the next 10 years that are not paid by the federal government to private plans that are well beyond the actual cost of providing benefits. The $716 billion was never raided nor cut, it was saved. i.e. If a $20 shirt is on sale of 20% off, I pay $18 for the shirt. I save $2. The $2 stays in my wallet, it hasn't gone anywhere. I have not spent the money. The cost of the shirt has been cut by 20%, but not the quality of the shirt is the same. The seller takes the lost; not the buyer.
To be sure, unemployment is high but Obama inherited economic conditions where we were losing about 800,000 jobs a month. Since the stimulus spending began in late 2009, unemployment fell from 10% to 8.3%ut sure, and since the depths of the recession he has added 4.5 million jobs. While Ronald Reagan who was not dealing with a collapse financial system only created 5.3 million jobs in his first term. In 1933, at its highest point of the Great Depression, unemployment reached 25%. In 1939, the unemployment rate in America had dropped from a high of 25% to 15%, largely due to the New Deal programs introduced by FDR. The Depression lasted from 1929 to 1941 and only ended with America’s entry into World War II.
I agree economic trajectory is significant.Obama inherited the worst economic crisis since the Depression; nevertheless, the Obama administration has officially overseen a net increase in jobs over their 3.5+ years in office. Since late 2009, Obama has added 4.5 million jobs. Ronald Reagan who was not dealing with a collapse financial system only created 5.3 million jobs in his first term. When Obama took office we were losing jobs at about 800,000 per month; we now have had 29 consecutive months of job growth. The economy was shrinking almost 9 percent; it is now growing 1.5 percent-- 10 percentage points in growth. He has moved the economy from red to black. He has turned the corner; he is moving the economy forward.
Brian Sullivan, CNBC and Liegh Gallagher, Fortune Magazine explained that the up tick in unemployment rate was a positive sign because it suggest that the labor force participation rate had improved—as the economy improves the unemployment rate will fluctuate as more people feel interested in finding jobs. As long as the up ticks and down ticks are marginal and accompanied by job growth, it is a positive signs. It is not spin, it is the dynamics of the labor market.
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