Democrats are spinning April’s relatively good jobs numbers as a victory for the administration. The reality, however, is that the current recovery is the weakest of modern times, as economic growth, after more than five years of Democratic Party policies, stands at near zero. The Senate Budget Committee offers the following three charts, which show how the Obama administration’s government-centric policies stack up against the Reagan administration’s free enterprise approach, which brought the United States out of a similar recession, but one that also included runaway inflation.
This one shows how slowly jobs have bounced back under Obamanomics. Click to enlarge:
This one shows how slowly gross domestic product has rebounded, compared to the Reagan years:
This one is perhaps the most devastating of all. It tracks labor force participation under Reagan and under Obama. Has anyone in history driven as many people out of work as Barack Obama? Certainly not in the United States:
If you are a partner in Goldman Sachs or a Washington lobbyist, the Obama administration has been a bonanza. But you probably aren’t. In all likelihood, if you need to work for a living, Obama’s presidency has been a tough time for you, if not a disaster.