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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region Forums"The Obama Bounce"
The Obama Bounceby Paul Krugman at the NY Times
http://krugman.blogs.nytimes.com/2014/12/28/the-obama-bounce/?_r=0
"SNIP...................
Since Obama took office, weve gained 6.7 million private-sector jobs, compared with just 3.1 million at the same point under Bush. But under Bush wed added 1.2 million public sector jobs, while under Obama weve cut 600,000. The point is that relatively good private sector performance has been masked by public-sector cutbacks; this is the opposite of what you usually hear, but thats no surprise.
What about the prospects looking forward? As Ive pointed out before, business investment has been relatively strong throughout. Residential investment, however, has been very low since 2006, suggesting that theres a backlog of pent-up demand, which should come into play in an improving job market. So thats one source of strength. Also, low oil prices are going to be mostly positive, although with some adverse regional effects; more on that in a later post.
Overall, then, the next year and probably the next two years are likely to be pretty good. This doesnt mean that the overall track record of policy has been good weve wasted trillions in foregone output, damaged the lives of millions if not tens of millions. But it will feel a lot better than the years before.
....................SNIP"
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"The Obama Bounce" (Original Post)
applegrove
Dec 2014
OP
arely staircase
(12,482 posts)1. recommended nt
Wounded Bear
(58,721 posts)2. What really sucks, though...
is that the Repubs win whatever happens. If the economy tanks, it's Obama's fault. If it continues to improve, it's all because of the Republican congress. And the rubes will eat that shit up.
Cha
(297,723 posts)3. Good on Paul Krugman writing about the "Obama Bounce" that happened..
Mahalo apple~
Hekate
(90,829 posts)4. KnR for Professor Krugman, as always.