Obama now ranks 10th of 10 recoveries in both jobs & economic growth
Texas Insider Report: WASHINGTON D.C. For
the 41st consecutive month the unemployment rate has soared above a discouraging 8" said Texas Congressman Kevin Brady the top Republican on the Joint Economic Committee. With the new June jobs report in hand President
Barack Obamas economic recovery now ranks as the worst in modern times in terms of both job creation & economic growth says Congresss Joint Economic Committees GOP leader.
The June Employment Report released earlier today by the Bureau of Labor Statistics along with the gross domestic product report released by the Bureau of Economic Analysis on June 28th marks a
milestone Brady said: President Obamas economic recovery ranks as dead last in the post-World War II era.
Since 1945 the United States has had 10 economic recoveries that lasted more than one year. In terms of both how fast the U.S. economy has recovered and how many private sector jobs have been created since the recessions low point President Obama now ranks 10th of 10 - thats dead last said Brady.
Three years after the recession officially ended in June 2009 we still have more than four million fewer private sector jobs than we did when the recession started" he continued.
Brady says that while President Obama boasts about the 4.4 million private sector jobs he claims have been created during the latest 28 months put in perspective President Obamas recovery has been weaker than every one of his predecessors in the past seven decades. He can try to spin it any way he wants but when measured by jobs or by economic growth hes at the bottom of the list.
Last week the Bureau of Economic Analysis reported that real GDP expanded by 6.7 over eleven quarters since the recession ended. Today the Bureau of Labor
Statistics reported the number of private sector jobs had grown by a mere 4.1 since the cyclical low point.
In contrast real GDP expanded by 17.6 and private sector jobs ballooned by 10.7 during comparable periods of the Reagan recovery. Obamas economic record frankly is embarrassing" Brady said.
Think about it - despite President Obamas stimulus financial bailout housing bailout auto bailout cash-for-clunkers cash-for-caulkers and an unprecedented five trillion dollars in deficit spending the Obama recovery is officially dead last in results" said Brady.
Can unemployed Americans really afford four more years of this failed economic leadership?
