President Barack Obama is presiding over what even CBS News admits is “the worst economic recovery America has ever had.” During this “recovery,” unemployment has been over 8 percent for 43 months in a row. The President has tried to spin his way out of these numbers, recently announcing, “Today we learned that after losing around 800,000 jobs a month when I took office,business once again added jobs for the 30th month in a row, a total of 4.6 million jobs.” While not perfect, he admits, this performance is better than what we can expect to see under President Romney, who wants to return, says Obama, to “the failed policies of the past,” that is, to “the same tax cuts and deregulation agenda that helped get us into this mess in the first place.”
BUNK.
The idea that George W. Bush was some kind of deregulator is easily debunked: as Obama himself admitted, “I have approved fewer regulations in the first three years of my presidency than my Republican predecessor did in his.”
But Bush did indeed cut taxes, most notably in 2003. Did that policy “fail”? How did it’s results compare to Obama’s record?
It’s true that the private sector has added 4.6 million new jobs over the past 30 months. But during the 30 months after the Bush tax cuts went into effect in August 2003, the private sector actually added even more jobs – 5.3 million according to the U.S. Bureau of Labor Statistics, Current Employment Survey.
