Biden: We Can't Recover All the Jobs Lost
AP Photo
Vice President Joe Biden gave a stark assessment of the economy today, telling an audience of supporters, "there's no possibility to restore 8 million jobs lost in the Great Recession."
Appearing at a fundraiser with Sen. Russ Feingold (D-Wisc.) in Milwaukee, the vice president remarked that by the time he and President Obama took office in 2008, the gross domestic product had shrunk and hundreds of thousands of jobs had been lost.
"We inherited a godawful mess," he said, adding there was "no way to regenerate $3 trillion that was lost. Not misplaced, lost."
Claims for jobless benefits fell by the largest number in two months last week, but were still high enough to signal weak job growth. Meanwhile, the Senate on Thursday failed to pass an extension of unemployment benefits.
Biden said today the economy is improving and noted that in the past four quarters, there has been 4 percent growth in the economy. Over the last five months, more than 500,000 private sector jobs were created.
"We know that's not enough," the vice president said.
Last week the White House put out a Recovery and Reinvestment Act update claiming that between 2.2 million and 2.8 million jobs were either saved or created because of the stimulus as of March 2010. In signing the Recovery Act into law on Feb 17, 2009, Mr. Obama said the measure "will create or save 3-and-a-half million jobs over the next two years."
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You know, when they took control of the House and the Senate, starting passing financial legislation and budgets with a majority in Congress...
Oh, Biden's still pretending that Republicans had full control until 2008 isn't he?
Sorry charlie, you had control for 2 years before things went south... did you not see it coming then, not care, were you too incompetent to help avoid it, or did you guys cause it? Is there another choice?
Oh yeah, Blame Bush... good luck with that. How has 4 years of Congressional control for Democrats gone for you guys? Are you better off than you were 4 years ago anyone?
Bush wrote his own laws and illegally created legislation he wish. He also ignored laws he wish to while making ones that were not.
2008 President Bush signed into law Friday a historic $700 billion bailout of the financial services industry, promising to move swiftly to use his sweeping new authority to unlock frozen credit markets to get the economy moving again.
http://en.wikipedia.org/wiki/2009_United_States_federal_budget
2009 Budget of the United States federal government
Submitted by George W. Bush
Submitted to 110th Congress
Total revenue $2.7 trillion (estimated)
Total expenditures $3.107 trillion (estimated)
Deficit $407 billion (estimated)
Debt $12.867455 trillion (estimated)
Website US Government Printing Office
There were over 8 million America jobs outsourced under the Bush Administration.
Now that the democrats have been in power to repair the destruction of the Bush administrations' destruction to our jobs , economy & middle class,,,,,
they have become a party of NO or filibuster against any legislation for the welfare of the middle class.
Hmmm... All the charts, graphs and technical terms cannot hide the truth... the problem is and has always been Employment.
The USA exports more JOBS than any other country in the entire world. How do we reverse it? How do we stop it? How do we put Americans back to work?
Not with tax cuts. Not with deregulation. Not with bailouts. Not with stimulus money. Not with health care. Not with interest rates.
In the USA, there is only one way fix the problem... STOP Exporting Jobs and STOP Importing Outsourced Products.
We MUST Make Outsourcing Unprofitable... Tariff, Tax and Levy!
The Stop Outsourcing and Create American Jobs Act of 2010 (H.R. 5622)
just may be the answer!
Obama comes in and does just what FDR did and we are supposed to be surprised when it had the same results as in the 1930s? FDR extended the depression and now Obama is extending the recession. If we cut taxes and cut spending (instead of tripling it) we will see the jobs come back.
although I would have preferred "Single-Payer". I already have insurance I can afford, but it was not about me, it was about people perhaps like you who have worked hard and deserve to have insurance they can afford to protect themselves and their families. Many people contribute as productive Americans. Why as Americans should they have to risk everything they have worked for to feed money into an out-of-control healthcare system so that a few can prosper over another's misfortune. Yet, there are many who would call me a socialist, but the truth is, I like to think of myself as more of a humanitarian...and unfortunately that Republican way of thinking does not play into what I would consider a happy and healthy America. You can call me a liberal, an idealist, or whatever, I am pretty tough skinned, but I do know I like the person I see in the mirror every mourning... I can hear you calling me a "Feel-Good Liberal" right now.(ha!ha!)