The President reprised his role as prevaricator-in-chief this weekend in an interview with George Stephanopolous, when he claimed he inherited an economy WORSE than the great Depression. Except the the NBER says it was not worse than 1980-82. He claimed he stabilized the economy and we have had 42 straight months of growth(1.7% annually can hardly be termed "growth"), and the creation of 7.5 million new jobs in that time. But the BLS says we have only created 5.1 million jobs, 4.4 million of which are part time. He went on to claim 170,000 new jobs in auto industry AFTER his bailout, but the TRUTH is, according to the BLS, that we are still DOWN 74,000 industry jobs since then.
He claimed that "too big to fail" is a lot less likely to be in place the next time, due to his policies. But Dodd Frank ENSHRINES TBTF as national policy. And he then resorted to possibly the most assinine claim he has ever made. That our slow job growth is due to technology, automation replacing jobs. Atm's replacing tellers. It is embarrassing that a man this uneducated in basic economics is making economic decisions for the nation. it is also proof once again that the words that he speaks bear little relation to reality.
America NEEDS honesty. We DESERVE better than this.
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