“If you needed another metric by which to measure the failure of Obamanomics, new numbers released Friday show that two years after the recession ended the economy still hasn’t fully recovered. . . . Obama likes to blame the depth of the downturn for the “painfully slow” recovery. “We didn’t get into this mess overnight, and we won’t get out of it overnight. It’s going to take time,” he said — nearly a year ago.

The claim is bogus. This recession lasted only slightly longer than the 1981-82 contraction — 18 months vs. 16 — and wasn’t as severe when measured by peak unemployment.
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But the economy came screaming out of that downturn, and in three quarters was already well into an expansion. The 1973-75 recession lasted 16 months, but also took only three quarters to fully recover.

Read the whole thing here:

http://www.investors.com/NewsAndAnal...c-Recovery.htm

Originally Posted by villagegolfer

Read the whole thing here:

http://www.investors.com/NewsAndAnal...c-Recovery.htm

Perhaps there is something else at work here which wasn't present during those recoverys. So for example, my company was hollowed out over the past 5 years, sites closed down, everything outsourced and widespread layoffs. Finally, we were sold.... pensions gone, retiree healthcare gone and once again layoffs. Now a new memo 8% reduction in the workforce. And all of this for the same reason: (From the CEO memo)

These savings are also part of the plan for helping position our company to grow in a profitable way in the future.

We haven't missed a dividend in my 22 years.

To increase profit something generally has to give and the largest segment of costs are the workers.

Just a thought.....

I agree outsourcing jobs is a big problem for the work force in the USA, however this from the article really sticks out:

For that, Obama has only his own economic medicine to blame. His preferred treatment — huge hikes in federal spending, massive new environmental and financial regulations, ObamaCare, an out-of-control labor relations board, verbal attacks on businesses and the rich, etc. — just isn't working to get the economy back on its feet.

I just wished he was more focused on jobs instead of health care and other things. It almost seems like he is anti-business, which is detrimental for creating jobs.

Originally Posted by villagegolfer

I agree outsourcing jobs is a big problem for the work force in the USA, however this from the article really sticks out:




I just wished he was more focused on jobs instead of health care and other things. It almost seems like he is anti-business, which is detrimental for creating jobs.

I wish also he would focus on something and be a leader so we can agree on that. Healthcare is an issue that has to be addressed on that we will have to disagree. In my case I benefited from the Labor Relations board in 2 ways...first until 3 years ago I was a salaried employee getting <2% and several times no salary increases but then all of us were converted hourly and my gross income increased by $40,000 a year. Not even trying to make OT just based on the hours I had always worked. Then the company did something, not sure what, and I got a check for $400.00. Something about travel time. So they do serve a purpose. I did check and the Chamber of Commerce is not in their court.

My company is not outsourcing anymore just whacking away now....I might take the package myself and get out.

See even you and I can agree on somethings.