The Reince Priebus Job Growth Standard: An assessment

According to data from the Bureau of Labor Statistics, the U.S. economy added 321,000 jobs in November, and job data for September and October were revised upward, adding another 44,000 to the total employment number.

That makes November the 49th consecutive month of job growth and the 10th consecutive month in which the economy added more than 200,000 jobs. So far in 2014, we’ve added 2.65 million jobs, which is more jobs than we’ve added in an entire year since 1999.

We’re still dogged by a lot of problems, including a growing income inequity that has building for three decades now and shows every sign of continuing. But as President Obama noted, “Over the last four years we’ve put more people back to work than Europe, Japan and all other industrialized advanced countries combined.”

"How far is my fantasy from reality?"

“How far is my fantasy from reality?”

Of course, Reince Priebus, chairman of the Republican National Committee, pronounced himself singularly unimpressed:

“Creating 300,000 jobs in one month shouldn’t be a new high; it should be the minimum we expect. Today’s jobs report shouldn’t be an aberration; it should be the norm. Sadly, it’s not.”

Yes, it certainly would be nice if we could add 300,000 jobs a month, each and every month. It would also be nice if we had personal jetpacks to fly us to place to place and chocolate that did not get us fat, but alas, we do not.

For example, during the Bush presidency — after passing tax cuts for the rich that were going to set off an economic boom, after gutting the EPA, the National Labor Relations Board, the Securities and Exchange Commission and other pesky regulatory agencies supposedly holding back the economy, we met the Priebus Standard of 300,000 jobs exactly six times in 96 months. However, in those 96 months, we also experienced six months in which we lost more than 300,000 jobs.

Overall, job growth under President Bush averaged a measly 13,000 a month, and literally all of that job growth came from growth in the number of government jobs. When Bush left the White House, the private sector employed 460,000 fewer Americans than it did when he took the oath of office eight years earlier.

joblossUnder President Obama, the private sector has added almost 7 million jobs.

As I always like to point out, presidents get too much credit for the economy when it’s going well, and too much blame when it’s going poorly. However, it’s an absolute fact that the economy did not produce anything near the growth that Republicans promised when they cut taxes on the rich and took the budget from a surplus to historic deficits. It is also a fact that if Republicans had carried the day in the early months of the Obama administration by blocking the stimulus package and the rescue package for the auto industry, the economy today would be in a much worse state than we find it.

That’s just the truth.

 

Reader Comments 0

411 comments
tireOfIt
tireOfIt

Reince Priebus is not even an American. 

EdUktr
EdUktr

With Mary Landrieu given the boot by Louisiana voters yesterday the Democrats are left without a single U.S. senator or governor across nine states stretching from the Carolinas to Texas. Every state legislature has likewise been entrusted to the Republicans. 

Voters' repudiation of the Obama Administration's liberal excesses is now complete. Perhaps our Jay will make a statement?

InTheMiddle2
InTheMiddle2

@EdUktr  It will be the usual statement, ALL republicans are racist white guys.

quickworkbreak
quickworkbreak

@EdUktr Based on the these results, the "Obama Administration's liberal excesses" are too many jobs added.

EdUktr
EdUktr

Any late news from Louisiana?

Mary Landrieu showing any signs of breaking through the 18-percent support level among white voters?

LeninTime
LeninTime

@EdUktr

Does anyone other than some kooks on the far right care?

I know I don't.

Cinesias
Cinesias

Obama: A Failed Presidency.


Here's the proof, in numbers!


Obama takes office -- Dow Jones: 7,949

Today -- Dow Jones: 17,830


Obama takes office -- Unemployment: 7.8%

Today -- Unemployment: 5.8%


Obama takes office -- GDP Growth:  -5.4%

Today -- GDP Growth: 3.5%


Obama takes office -- Deficit GPD: 9.8%

Today -- Deficit GPD %: 2.8%


Obama takes office -- Consumer Confidence: 37.7

Today -- Consumer Confidence: 94.5

Philo_Farnsworth
Philo_Farnsworth

And all that translated into a kick-butt showing in the November elections !!!

Oh wait....

InTheMiddle2
InTheMiddle2

@Cinesias  Once again, being the tallest midget in the room does not make you eligible to be an NBA center.

LilBarryBailout
LilBarryBailout

@Cinesias

Your post is stupid because Obozo took office at the very bottom of the recession.

A more honest reflection on his failures so far would compare the pathetically slow recovery caused by his policies to recoveries under presidents who didn't hate America and free-market capitalism.

JoeBobJoe
JoeBobJoe

@Cinesias How about the 18+ trillion debt and record 46+ million on welfare?  

LeninTime
LeninTime

...says the wannabe who is happy to let his Idiot Messiah play boy king, trample Our Freedoms, and shred Our Constitution.

***
That you imply that I'm a supporter of the current president, is kind of interesting.

But I'm guessing even you know better and are just feigning ignorance.

Cinesias
Cinesias

@LeninTime

You have to consider Obama the messiah, because Lil Barry has been trained by his masters well to believe such things.


Besides, the proof is written right there on Glenn Beck's ChalkboardOfFreedumb™

LeninTime
LeninTime

@LilBarryBailout @LeninTime

That's surprising. I actually attributed a little more political literacy to you, but maybe I was wrong. 

I'm actually one of the most persistent critics of Barack Obama on this blog - the only one from the left, the proper direction. But maybe that's just a little over your head.

LeninTime
LeninTime

Landrieu would be unstoppable if she wasn't associated with the failed liberal fascist regime and the obstructionist Democrat party.

***

I see our resident protofascist is throwing around the word fascist again.

So much projection.

LilBarryBailout
LilBarryBailout

@LeninTime

...says the wannabe who is happy to let his Idiot Messiah play boy king, trample Our Freedoms, and shred Our Constitution.

Michael B
Michael B

I recall driving up Peachtree Industrial in the spring of 2009.  Car dealerships were closing right and left. We didn't know whether there would be an auto company left in America.  In fact, the CEOs had to go to Washington to beg for help. Every building is now occupied, and I am afraid we have already forgotten how shaky things were when Obama took office.

Also that spring the TEA party sprang up.  They started protesting against budget deficits and the president.  This was even though Obama had not yet proposed a budget, so he was operating on the last Bush budget. 

Reince sounds like the little league player whose team lost because the sun was in their eyes, but it wasn't in the other team's eyes.

Another record Obama holds is the largest increase in the Dow Jones in history.  In fact, he has added more points to the Dow Jones than the combined efforts of all republican presidents since 1928.  What a guy!

notagain
notagain

@Michael B Yes,and we are pumping more oil,gas prices are down,no new wars,he just may be the Messiah...

InTheMiddle2
InTheMiddle2

@notagain @Michael B  Not buying it. I have lived through good times and I still remember what they were like. I remember freedom, we are no longer a free people. I remember a government that served the people, now it the people that must serve the government.

LilBarryBailout
LilBarryBailout

@notagain @Michael B

Oil and gas production are booming in spite of Your Idiot Messiah, not because of him.  Obozo is obstructing production in the Gulf of Mexico and other lands controlled by the federal government.

As for no new wars, anyone can do that...just lay down and surrender to Syria, ignore al Qaeda overrun Libya, and let Iran build their nukes.

Obozo:  Not a man.  Not an American.

notagain
notagain

@LilBarryBailout @notagain @Michael B Because of Carter and The Messiah.You think Jesus would look more like you or Obama?Some folks put oil as number one.Can you live in very polluted air.No fresh potable water.He is trying to take care of you and the Americans,be grateful.Thank the Messiah.

RoadScholar
RoadScholar

Heard this on PBS from Bill Moyer and the repub who is the usual contributor (David ___) did not refute:

Since the Second World War  the Repubs have had slightly more years of controlling the Presidency than the Dems. During that time the Dems Presidents have "created" twice as many jobs than the Repubs (I was surprised at the Data/statistics) No breakdown of what type jobs was provided.

 Under the latest Pres Bush, he created 2.1 Million jobs during his 8 years. 1.8 million of them were....created in local, state, and fed government!!!! In 8 years there were only 300,000 jobs created in the private sector!!!

So Rence, suck on those numbers!

InTheMiddle2
InTheMiddle2

@RoadScholar  I find it amazing that everybody forgets what happened on 911 and how our economy went into a free fall. BTW if the job market is soooooo good why are so many people still underemployed because wages are still depressed from an over supply of labor..

LilBarryBailout
LilBarryBailout

@RoadScholar

Sounds like it's time to start cutting back on all the handout programs for parasite Democrats, eh?  What with all the great economic news...

Michael B
Michael B

@RoadScholar  He could also have said that since WW2 there have been two major financial crises - the collapse of the savings and loan industry after deregulation, and the collapse of the banking and insurance industries after deregulation.  The deregulation is an ongoing republican goal even though it has always been followed by a financial crisis and a severe recession.  It is hard to grow jobs, when the pubs are in power and setting up economic crises. 

notagain
notagain

@LilBarryBailout @RoadScholar Repubs will never cut back on the handouts,huge salaries,and perks,and that is just to the executives,not to mention the cooperation's tax cuts and breaks.

RoadScholar
RoadScholar

@LilBarryBailout @RoadScholar Only if we can cut it for repub parasites...It's funny (bad choice of words) that you think only Dems get assistance! Not only do many repub voters get them, but repub business get tax cuts or elimination even though they have record profits. NO I am not jealous, just informed!

RoadScholar
RoadScholar

His name was David Brooks and it was the first time I have seen him speechless!


It is also amazing that no one has really commented on the numbers provided other than but but but. Jobs are for everyone regardless of party by the way!

EdUktr
EdUktr

In its election today Louisiana will become the latest state to deliver a stinging repudiation of the Obama Administration and its policies. Democrat Senator Mary Landrieu will be turned out of office by a wide margin—with less than even the paltry 23 percent of the white vote Michelle Nunn and Jason Carter received here in November.

And the AJC will briefly have something besides dwindling circulation to feel despondent about.

LilBarryBailout
LilBarryBailout

@EdUktr

Americans win again.

Landrieu would be unstoppable if she wasn't associated with the failed liberal fascist regime and the obstructionist Democrat party.

JKLtwo
JKLtwo

Tshirt of the day:  I like my guns like obama likes his voters:  Undocumented!

JoeBobJoe
JoeBobJoe

@CommonSenseisntCommon @JKLtwo  Yes,  an hispanic citizen.  Not some illegal, ( illegal; violating the law) further/  potential (no, an odumbama voter) for the demorats.