It was only fitting that the jobs report was released the day after the president took the stage at the DNC convention. With no hesitation, he proclaimed that only he could produce a plan that “will lead to new jobs, more opportunity, and rebuild this economy on a stronger foundation.” But the next morning we were reminded, once again, what a failure his policies have been.
Today, the Bureau of Labor Statistics released the monthly job report that stated America had only created an additional 96,000 jobs in the month of August. Even with these less-than-stellar numbers, the unemployment rate managed to decline by a tenth of a percentage point to 8.1 percent, but only with the help of 368,000 more Americans dropping out of the labor force entirely.
It is clear that the tax-and-spend policies of Barack Obama have not produced the results that his lofty rhetoric claimed.
At the same point in the Reagan Presidency, after a deep recession, the unemployment rate had dropped to 7.5 percent from a high of nearly 11 percent 25 months prior. Obama, on the other hand, has only managed 8.1 percent unemployment rate from a high of 10 percent in 35 months.
Also, at this point in Reagan’s presidency, the economy had added a greater number of jobs each month. At this point, he had added 4.078 million jobs to the American economy Whereas Obama has lost a total of 1 million jobs at the same point during his term.
However, the disparity is even greater if we see what each president’s job numbers are using the end of their recessions as a starting point. Reagan had created a whopping 9.693 million jobs to Obama’s 2.797 million.
During this same period in the Reagan recovery, the economy was consistently adding more jobs. Reagan added 168,000 jobs per month, 72,000 more jobs than Obama’s current anemic recovery.
Obama’s continued poor performance makes it even more apparent that his policies have failed. The results of low-tax, pro-growth policies of Reagan are in stark contrast with the policies of big government from Obama. As more time goes on, the picture becomes ever-clearer: Obama’s big-spending and high taxes have failed the American people. No matter how many lofty speeches he makes, his policies will never work.