Saturday, September 8, 2012

Economic Report: Tea Party Congress Job Creation

Tea Party Congress Job Creation

Two days ago, we reviewed Bill Clinton's Spitting Lies about Barack Obama's leadership. Today, America's jobs numbers were updated. We updated portions of our report to keep you armed with the best data available.

The DNC convention speeches were full of lies, but here is one very important lie that we can review with official numbers.
Bill Clinton: "So here is another jobs score. President Obama: plus four and a half million. Congressional Republicans: zero."
President Clinton credited President Obama with creating jobs and preyed upon the ignorance of most Americans by failing to credit the tea party congress with any job creation.

Enter the U.S. Department of Labor, Bureau of Labor Statistics.

We will be using the number of employed Americans. These are not seasonally adjusted employment numbers because those adjustments are just guesses. Consider that as the population of adults grows, more people should be employed. This is decidedly different than using unemployment numbers.

History: Job growth 2002 to 2007 under President George W. Bush

George W. Bush 10.098 million jobs were created
During the 107th Congress, Jan. 2001 to Jan. 2003, the budget controlling House of Representatives was Republican controlled while the Senate was Democrat controlled. The 108th Congress and 109th Congress, Jan. 2003 to Jan. 2007, were completely under Republican Control. Through this period, 10.098 million jobs were created.

Job growth 2007 to 2011 under Senator/President Barack Obama and Congressional Democrats

In January 2007 the Democrat party took control of both houses of the 110th Congress. The 111th Congress continued absolute Democrat control, but added the Presidency of Barack Obama. It takes between 6 months and one year for fiscal policy to affect the economy. The Congress controls fiscal policy with the president holding only veto power. The "Impeach Bush" congress began to pursue economically destructive policies. The result was the loss of 10.506 million jobs from peak to trough (bottom).
Democrats Kill 10.506 million jobs
Let's bend over backwards to be fair to Senator Obama after he became President Obama. Let's excuse his contribution to Democrat economic legislation for a moment. In that case, President Obama and the Democrat controlled Congress lost 2.837 million jobs between Jan. 2009 and Jan. 2011.

President Obama and Democrat Congress Job Creation 2009-2011

The economy hit rock bottom in January 2010. It was an election year, which typically is a positive for the economy. Tea parties formed and started calling for economic sanity. Restrictions were requested for crony capitalist programs, including the bankruptcy of GM in which unions were given stolen money from thousands of bond holders. There was an economic bounce of 3.3 million jobs as Americans gained confidence due to tea party activism on top of standard economic cyclical factors.

The bounce ended on March 23, 2010 as the Patient Protection and Affordable Care Act passed without any Republican support. Over the next two months, Americans learned how destructive the law would be for economic and personal freedom and 2.525 million jobs evaporated. It was clear that the Senate would likely remain Democrat controlled in the November 2010 elections, fading hope for an immediate repeal.
Affordable Health Care Act immediate Economic Impact
The Democrats and President Barack Obama can rightfully claim .79 million new jobs from the absolute bottom of the recession. The tea party was not in congress and it is only fair to point out that some job growth occurred. If not for the Affordable Care Act, the economy may have launched upon a typical recovery path.
Obama Created .79 million Jobs

Job growth 2011 to present under Congressional Tea Party Republicans

Once the tea party Republicans gained control of the 112th Congress in January 2011, confidence began to return. Occupy Wall Street and other Democrat attacks demonized the calls for responsibility as "racist." Despite the constant legal and media attacks against the tea party, the majority of Americans heard the tea party economic solutions through alternative media like The San Diego Local Order of Bloggers.

The tea party congress "saved or created" 4.959 million jobs through August 2012 using President Obama's math. Much of that growth is due to opposing damaging Democrat policies. Another economic factor is simply restored confidence that grownups are in control of the House budget committee under Chairman Paul Ryan. The House of Representatives controls the federal budget and passed the Paul Ryan budget in April 2011.
Tea Party Responsible for 4.959 million Jobs
The Democrat party had not pass a legally required federal budget for three years while in complete control of the government. The Democrat controlled United States Senate said no to the Paul Ryan budget and has left many jobs bills stalled. There is hope that some recent jobs bills will be approved in the Senate because Democrat control is up for vote during this year's election.

In response to Bill Clinton, the score on the economy is:
Congressional Republicans (2011-2012): 4.959 million 
President Barack Obama and Congressional Democrats (2009-2011): -2.837 million
Congressional Democrats (2007-2011): -9.716 million

Despite being hamstrung by the Democrat controlled Senate and President Obama, America's faith in the tea party congress has paid off. Much of the sensible economic policy is attributed to Rep. Paul Ryan and the House of Representatives budget committee. Congress will be hard pressed to replace the leadership of Rep. Paul Ryan.


One final graph detailing how the economy may have performed if not for the Affordable Care Act known as ObamaCare.
ObamaCare Stalls the Economic Recovery


Sleeve said...

You show the actual numbers... but this entire blog is dedicated to somehow showing that the proof of Republican policy working is that the recession finally stopped half-way through Obama's term. Which policies were reponsible for this? I didn't hear any... what did the Republicans actually do to put people back to work? You can't say "it happened... so they're obviously responsible for it! Because they're the grown-ups!" to numbers that are mostly the product of Obama's policy, not the dead-lock congress. So I ask you again... which policies in particular from the Republicans saved those jobs?

Doo Doo Econ said...

For one, they passed the Paul Ryan Budget in April 2011. Of course the Senate and the President could not work to make the budget law and avert the fiscal cliff, but for the first time in years America has a plan.

kjhj said...

good post !! thanks for sharing with us... Get your home in Mumbai @ Godrej Prime Chembur to live your life smartly.




Related Posts Plugin for WordPress, Blogger...