On June 17, 2010, the Obama Administration announced the start of “Recovery Summer.” As one Administration official put it back then, “This summer is sure to be a Summer of Economic Recovery.” That boast added to promise after promise by the Administration and Congressional Democrats that their policies would turn the economy around and “lay a new foundation for growth and prosperity” enjoyed by all:
- The Administration promised in 2009 that their trillion-dollar stimulus plan would create 3.5 million jobs and reduce unemployment to 5 percent by now;
- President-elect Obama said “shovel-ready projects all across the country” were on the way, through which “jobs are going to be created”;
- Then-Speaker Nancy Pelosi promised in 2010 that Obamacare would create another 4 million jobs, declaring it “a jobs bill”;
- The Administration’s “Jobs Council” would advise the President “on ways to create jobs, opportunity, and prosperity”; and
- The Administration’s “Middle Class Task Force” would, among other things, help the Administration “protect middle-class and working-family incomes.”
Unfortunately for the American people, none of that actually happened.
Instead, as displayed below, even four years after the original “Recovery Summer” the American people continue to experience the worst “recovery” for jobs ever. This is just the first reason for the Senate to take up and pass the 40 jobs bills the House has passed in the last 18 months. But there are more reasons – many more. As will be displayed in subsequent releases, there are at least 40 reasons for the Senate to pass these 40 House jobs bills. The reasons define the distress Americans continue to feel in the “new normal” of high unemployment and weak job creation resulting from Obama Administration economic policies.
Reason #1: Worst “recovery” for jobs ever. In no other recession did it take this long to recover the lost jobs.
Source: Calculated Risk Blog.