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The economy was supposed to be an Achilles heel for Barack Obama and the Democrats in the upcoming election. Unemployment is still high at 8.1 percent. The debt ceiling is even higher with deficits and planned deficits that exceed one trillion dollars a year. 

But then suddenly, the Bloomberg Government released a study that provides a huge boost, not only for President Obama, but for Bill Clinton, Jimmy Carter, and the Democratic Party as a whole. Job growth in the private sector has been more successful over the past 51 years under Democratic administrations than it was under its Republican counterparts. And not by a little bit. Despite the fact that Republicans have occupied the White House for 28 of the past 51 years, almost twice as many private sector jobs were created when Democrats occupy the Oval Office.

When Mitt Romney criticized this month's disappointing job numbers, I pictured him uttering those words in a presidential debate, standing on the same stage with President Obama, only to be greeted by this cool response from his opponent: "I'm glad you brought that up. Let's look at the numbers..."

As Bob Drummond wrote the other day on the Bloomberg website:

Quote:
 The BGOV Barometer shows that since Democrat John F. Kennedy took office in January 1961, non-government payrolls in the U.S. swelled by almost 42 million jobs under Democrats, compared with 24 million for Republican presidents, according to Labor Department figures.

And this:

Quote:
 Through April, Democratic presidents accounted for an average of 150,000 additional private-sector paychecks per month over that period, more than double the 71,000 average for Republicans.

Bill Clinton was the most successful job creator. During his eight years in office:

Quote:
On a monthly basis, Democrat Bill Clinton averaged 217,000 new private-sector jobs. Democrat Jimmy Carter had an average of 188,000, followed by Republican Ronald Reagan’s 153,000, according to Labor Department data.

Who would have thought that Jimmy Carter's administration would have averaged 35,000 more new private-sector jobs per month than Ronald Reagan's did?

And that after eight years of George W Bush, who lost 6700 jobs per month during his time in office, President Obama would be able to say the following: 

Quote:
 “Our businesses have now created more than 4.2 million new jobs over the last 26 months -- more than 1 million jobs in the last six months alone,” Obama said at a May 4 event in Virginia.
Through April, private employers have added an average of about 900 jobs per month since Obama’s inauguration.

Advantage Obama.

Comments (19)

  • Johnny Ringo's picture

    Carter= late 70s---> the dawn of the 80s boom of wall street
    Reagan= 80s--> firms were buying firms and cutting people and then '87 happened.

    George H.w. Bush--- hrmm

    Clinton was a great but had a little help from the .com boom

    Bush had a "War" economy and wall st. worst villians ever.

    Obama is still wet behind the ears.

    All that I just stated means nothing....The only President that creates jobs is the president with their name on the door. Tired of Politicians taking the credit for private sector.

    Eventus stultorum magister.

  • InfraInvestor's picture

    This is an interesting point that I have been thinking about for some time now. The private sector job growth helps Obama not because he can claim he created those jobs, but because it takes the argument out of Romney's pocket. This is what OP alluded to. Since Obama has been in office, the private sector has added jobs nearly continuously, while the public sector has continued to lose jobs. That kills Romney's message. All he can continue to say is that he would have done it better. Weak argument.

  • UFOinsider's picture

    Obama's focus has been on stabilizing the core infrastructure that accelerates business. This was largely necessary given that the economy was redlined on a repeated basis over the last two decades and was juiced beyond sustainable limits. My honest hope is that the presidential focus on a going foward basis will focus on BOTH infrastructure and business growth.

    Get busy living

  • SaucyBacon85's picture

    Obama's success in the economy has taken me by suprise. I honestly though he was gonna spend the US into economic decay.

    And yet the Masters of Austerity of Europe are in a swamp and Obama's stimulus and modest spending is yielding results.

    However, I'm still concerned with the debt levels Obama's incurred to create this growth. I'm way too busy to go digin for stats but can anyone else elaborate on this? Can't have a debate on job creation in isolation of this might white elephant.

    __________

  • In reply to InfraInvestor
    PetEng's picture

    InfraInvestor wrote:
    This is an interesting point that I have been thinking about for some time now. The private sector job growth helps Obama not because he can claim he created those jobs, but because it takes the argument out of Romney's pocket. This is what OP alluded to. Since Obama has been in office, the private sector has added jobs nearly continuously, while the public sector has continued to lose jobs. That kills Romney's message. All he can continue to say is that he would have done it better. Weak argument.
    Is it a weak argument? If it was a weak argument wouldn't Obama be crushing Romney right now?

  • In reply to SaucyBacon85
    txjustin's picture

    SaucyBacon85 wrote:
    Obama's success in the economy has taken me by suprise. I honestly though he was gonna spend the US into economic decay.

    And yet the Masters of Austerity of Europe are in a swamp and Obama's stimulus and modest spending is yielding results.

    However, I'm still concerned with the debt levels Obama's incurred to create this growth. I'm way too busy to go digin for stats but can anyone else elaborate on this? Can't have a debate on job creation in isolation of this might white elephant.

    I honestly don't think I've every heard the words "Obama's success in the ecnomy" ever. We are in the weakest recovery on record, if I recall correctly.

    YOu really can't compare Europe to the US, so IMO that's a moot point.

  • In reply to txjustin
    txjustin's picture

    txjustin][quote=SaucyBacon85 wrote:
    Obama's success in the economy has taken me by suprise. I honestly though he was gonna spend the US into economic decay.

    And yet the Masters of Austerity of Europe are in a swamp and Obama's stimulus and modest spending is yielding results.

    However, I'm still concerned with the debt levels Obama's incurred to create this growth. I'm way too busy to go digin for stats but can anyone else elaborate on this? Can't have a debate on job creation in isolation of this might white elephant.

    delete

  • In reply to txjustin
    SaucyBacon85's picture

    txjustin wrote:
    SaucyBacon85 wrote:
    Obama's success in the economy has taken me by suprise. I honestly though he was gonna spend the US into economic decay.

    And yet the Masters of Austerity of Europe are in a swamp and Obama's stimulus and modest spending is yielding results.

    However, I'm still concerned with the debt levels Obama's incurred to create this growth. I'm way too busy to go digin for stats but can anyone else elaborate on this? Can't have a debate on job creation in isolation of this might white elephant.

    I honestly don't think I've every heard the words "Obama's success in the ecnomy" ever. We are in the weakest recovery on record, if I recall correctly.

    YOu really can't compare Europe to the US, so IMO that's a moot point.

    I see your point. Let's just say that I was expecting MUCH worse.

    __________

  • dwight schrute's picture

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