Now this is interesting, but not surprising:
It’s the Politics, Stupid:
Comparing Labor Market Data in 1996 and 2008
Democrats on the Economy in 1996:
“Our economy is the healthiest it has been in three decades.” (President Bill Clinton, State of the Union Address, January 23, 1996)
Democrats on the Economy in 2008:
“The bottom line is that this administration is the owner of the worst jobs record since Herbert Hoover.” (Senator Charles Schumer, Press Release, March 7, 2008)
Key Labor Market Statistics in 1996 and 2008 March 1996 March 2008 1. U.S. Unemployment Rate 5.5% 5.1% 2. Number of Long-Term Unemployed 1.33 million 1.28 million 3. Average Weeks Unemployed 17.3 weeks 16.2 weeks 4. Median Weeks Unemployed 8.3 weeks 8.1 weeks 5. Not in Labor Force because discouraged over job prospects 451,000 401,000 6. Democrats calling for Extended Unemployment Benefits? No Yes 7. President’s Party Affiliation Democrat Republican Now it’s true that there are some bad signs in the economy with the subprime debacle going on but over all the picture looks little different from 1996…the biggest difference in the reporting of it being that a Democrat was in office compared to a Republican.
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