Biden Admits Obama Administration Won't Be Able to Create Lost Jobs
Barack Obama is the worst president in history on job creation–
According to data from the U.S. Bureau of Labor Statistics, the U.S. shed 2.3 million jobs since February 2009, Obama’s first full month in office. Since Obama’s election in 2008, the US economy has shed 4.4 million jobs. That’s worse than Herbert Hoover.
(Misery Index data)
Joe Biden announced on Friday that the Obama Administration will not be able to replace the jobs that were lost during the recent recession.
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.”
Appearing at a fundraiser with Sen. Russ Feingold (D-Wisc.) in Milwaukee, the vice president remarked that by the time he and President Obama took office in 2008, the gross domestic product had shrunk and hundreds of thousands of jobs had been lost.
“We inherited a godawful mess,” he said, adding there was “no way to regenerate $3 trillion that was lost. Not misplaced, lost.”
Claims for jobless benefits fell by the largest number in two months last week, but were still high enough to signal weak job growth. Meanwhile, the Senate on Thursday failed to pass an extension of unemployment benefits.
Biden said today the economy is improving and noted that in the past four quarters, there has been 4 percent growth in the economy. Over the last five months, more than 500,000 private sector jobs were created.
For the record… Not only were more jobs lost after the 9-11 attacks in 2001 than in the 2008 market crash, but more jobs were created by President Bush’s pro-business policies and tax cuts than by the Obama-Pelosi “spend your way to hell” Keynesian failure.
UPDATE: Power Line added this on the Obama disaster:
Graph courtesy of Veronique de Rugy at The Corner.
— Since the beginning of the recession (roughly January 2008), some 7.9 million jobs were lost in the private sector while 590,000 jobs were gained in the public one. And since the passage of the stimulus bill (February 2009), over 2.6 million private jobs were lost, but the government workforce grew by 400,000.
That’s what you call a disaster.