Lebanon, New Hampshire (CNN) – Republican presidential candidate Newt Gingrich derided the failed economic policies of President Barack Obama despite the latest jobs numbers that show the unemployment rate is now the lowest since the beginning of his administration.
"Three full years into the Obama presidency, and there are still 1.7 million fewer Americans going to work today than there were on Obama's Inauguration day," the former speaker said in a statement.
The economy added 200,000 jobs and the unemployment rate fell to 8.5 % in December, according to a Labor Department report.
"Today's new December unemployment figure doesn't capture the full scale of the tragedy: almost 24 million Americans still unemployed, working part-time for economic reasons, or discouraged from looking for work," Gingrich said.
For the past 6 months, at least 100,000 jobs have been added the economy each month.
The 8.5% unemployment rate is now the lowest it's been since February 2009.
The statement said, "The Obama experiment has failed, and it is time to look to proven solutions that have successfully empowered job-creators in the past."
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Newt – the Obama surrogates say it's all Bush's fault. Get with the program. That whole statemnt that he made – and I quote – "I've got 3 years to get this economy fixed, and if not, I'm looking at a 1-term proposition"... well, he was just kidding when he said that.
Gingrich says, "The Obama experiment has failed, and it is time to look to proven solutions that have successfully empowered job-creators in the past." Opps. These republican candidates cannot acknowledge any good that comes from the Obama administration.
During Bush’s eight years in office - January 2001 to January 2009, the nation gained a net 1.09 million jobs (because there were gains in government jobs, the private sector actually lost 653,000 jobs during that period, mostly due to outsourcing to China and India). For comparison, from January 1993 to January 2001, under Clinton, the nation gained 22.7 million total jobs.
From August 2003 to January 2008, employment grew by 6.3%, this was the weakest expansion since WWII (in contrast, from the end of WWII to February 2001, the average employment expansion had been a gain of 17.8%).
Source: Bureau of Labor statistics, Monthly Labor Review, April 2011, vol. 134, no 4
The low rate of job creation during the years 2003-2008 is significant in one particular aspect: these are the years right after the enactment of the Bush tax cuts. What the data shows is that the tax cuts did not really create many jobs.
Of course, we all know that in July 2005, new home sales peaked. By January 2006, housing starts had begun to decline. The economy (officially) entered a recession in December 2007. From October 2008 through March 2009, the economy lost 712,000 jobs each month, on average. This was the most severe 6-month period of job losses since 1945, when the war was ending. By February 2010, employment had declined by 8.75 million jobs, relative to its pre-recession peak (January 2008). The previous record of job losses was 4.3 million from November 1944 to September 1945.
Source: Bureau of Labor statistics, Monthly Labor Review, April 2011, vol. 134, no 4
The BLS data shows that 4.4 million jobs were lost in Bush's last year in office, and 4.3 million more jobs were lost during Obama's first 13 months. However, it is important to note that, during that period (i.e., from January 2009 to February 2010), although jobs were still being lost, there was a deceleration in the RATE at which jobs were being lost, a sign that the administration had managed to stop the free fall that had started under Bush.
This is just commonsense (something GOPsters are known to have a problem with). If the rate of job loss had not been reduced, the rate of unemployment would not be where it is now. It could be well beyond the 10.8% rate of unemployment reached under Reagan in December 1982!
Obama and his administration is worst of the liars and deceivers. These numbers include temp jobs that were created because of Thanksgiving and Christmas retail hiring. Wait till mid-Feb to get the actual numbers. These numbers also do not include people who have stopped looking for work or accepted way-under-pay jobs.
Hope sanity prevails when people read such declarations by this administration which doesn't respect and care for the law. These non-recess appointments are the latest one.
Wow, these guys will say anything. Never mind the republican policies caused this mess.
I don't like Gingrich, but he is right.
Erratum: From October 2008 through March 2009, the economy lost 712,000 jobs each month, on average.
From October 2008 through March 2009, the economy lost 712,000 jobs.
Republicans ' line of attack about the president's policies being a failure have never been true, but now, the numbers are beginning to come to light more that his policies have been working.Gingrich and the others are campaigning on a lie.
What Newt is saying is, by the time Obama's first term is up, if the current pace is maintained, there will be 600,000 more jobs than when he took office, and if the pace is kept up for another term, the unemployment rate will be so low that it may put so much wage pressure on corporations as to lead to inflation.
Right Newt, bc if you took office, there'd suddenly be 5 million more jobs right on Feb 1 2013, yes??
wow just imagine what he would have said if the numbers were AWFUL. These Republicans are so FULL OF IT!! PASS A DANG JOBS BILL then let's see how many jobs can be added to the economy.
This is the same man who said he would ask America for at least 4 years or more to get things moving in the right direction, but Obama can only get 2-3 years after inheriting the biggest financial this country has faced since the great depression. Newt is just NASTY and will never be president, thank God for that! He was betting that he be hateful, condescending and nasty towards Obama he will take the nomination and it just aint working for him. I am go glad the American people are smarter than what Newt thought they were!
You know, candidates from the GOP/TP had better tread carefully here. They have done absolutely nothing to help bring America out of the Bush crash of 2008, and seemingly offer nothing more than more extreme versions of Bush-o-nomics (more tax cuts for the rich, corporations as people, budget cuts and federal worker lat-offs) as a cure.
Americans see through their governing for the 1%.
In Jan 2008 the unemployment percentage was 5%. In Jan 2009 the rate was 8% and rising rapidly to a peak of 10.1% in October 2009. This administration was able to stabilize the unemployment rate and now it is slowly falling. While many of you think there is a magic wand that gets waived so everything changes overnight, the fact is that even with the opposition not cooperating, the economy is slowly getting better. I you had listened to experts at the beginning of 2010, they said it would take years, not days to recover from the free fall in 2008.
Everyone in the White House refuses to recognize the problem, many are still unemployed , not looking for work, or are in part time positions with no benefits. Obama administration would rather pay out longer unemployment benefits, welfare, medicaid and food stamps, then built the Canadian pipe line, decrease regulations, promote small businesses, open more schooling for the unemployed. Socialism is running rabid in the American society. Less individuals are encouraged to be self functioning and more relying on the government.
Well heaven forbid the economy should improve and jobs be added. I really believe these Republicans candidates do not want the economy to improve because then they will have nothing to rant about. It's pathetic.
I am so sick of the word "Job-creators." All these republicans minus well just say the rich people because that what they mean. But rich people don't create as many jobs as they want you do believe. It's average Joe's that actually start small 90% of businesses.
Thank God we don't have McCain in office, or we would STILL be losing SEVEN HUNDRED THOUSAND JOBS A MONTH
Newt's in favor of public prayer. He prays the Republicans can somehow stop the economy from recovering before the election.
flash apparently the 100,00.00 jobs added each of the last 6 months has not happened since 2006 thats back into the bush administration. !!!! Suck it up you repos . We are moving forward
Hmm...a total dismissal of reality. Yep, Newt's definitely a republican.
These dumb republicans make me SICK!!!!!!!!!! I don't dislike all of them but a few I do. They can't even give credit for a small improvement that our president has done.. But the biggest thing they seem to forget is that it took Bush 8 years to destroy our economy and they give Obama 3 years to fix it. If I remember correctly all through out his campaign he said that this would take HARD WORK!!! And it has because you have stubborn, racist, arrogant, and jealous people who have a personal agenda. People often wonder why people treat obama that way and alot of it does have to do with race. LETS JUST BE HONEST!!
Wow he's delusional. I have been voting since 1978 and every single time we've come to the end of republican administration rule the country has been in recession. The only thing that is proven is that republican rule leads to economic calamity for the middle and lower classes. But, when history isn't on your side, simply ignore it I guess.
At least Obamas job creation numbers are real, compared to Romney's. Romney is bragging that he created 100,000 jobs but the only thing he had to do with that is the financing of companies that created the products and services. If you call Romney a job creator then all financing companies and banks are the job creators not the companies that actually have the ideas,products and services.
Newt try dealing with reality...