President Biden’s economy continues to roll along. This data is provided by Simon Rosenberg who founded Hopium which I subscribe to. There is a free email subscription for those in a state similar to mine, but for those who are able, you can get a deeper dive and support a great person and organization. Under President Biden, there have been 15.4 million jobs created. Under Presidents Clinton and Obama, 33.8 million jobs were created. Under Presidents George H. W. Bush and George W Bush and Donald Trump, 1.9 million jobs were created in total from the three republicans combined. This means that under President Biden almost half as many jobs were created in 4 years as the Democratic Presidents created in 16 years and more than eight times as many jobs were created in the last three Republican Presidents combined. The unemployment rate has now remained below four percent for 27 consecutive months. The last time that the unemployment rate stayed below four percent for this long was from 1967 to 1970 and then from 1951 to 1953.
.
Our Monthly Jobs Tracker, 49m Dem Jobs - Let’s get to our monthly Hopium deep dive on the jobs and economic data. We start with our jobs tracker:
-
33.8m jobs = 16 years Clinton, Obama
-
15.4m jobs = 39 months of Biden
-
1.9m jobs = 16 years of Bush, Bush, Trump
-
Biden's 15.4m jobs are 8 times as many jobs as were created in the 16 years of the last 3 Republican Presidencies, combined. Since 1989 and the end of the Cold War, the US has seen 51 million new jobs created. 49 million of those 51 million jobs - 96% - have been created under Democratic Presidents. Just 2 million jobs - 4% - have been created under Republicans
-
Over the past 3 Republican Presidents the economy has created 10,000 jobs a month. The rate of job creation under Biden has been 40 times what it was under the those last 3 GOP Presidents. To repeat - Republicans created just 10,000 jobs a month over 16 years, the same number of jobs which have been created in 5 months under Biden. It’s shocking statistic.
.
This is also where the X post from Joey Politano below is found:
.
Joey Politano posted the following:
US and EU GDP numbers are now in, which means another update to my G7 post-COVID GDP growth chart
Here’s each country’s cumulative increase in real GDP, since just before the pandemic:
US +9.4%
Canada +4.7% through 4th quarter
Italy + 3.9%
France +1.7%
Great Britain + 1.0% through 4th quarter
Germany + .6%
Japan + .2% through 4th quarter
.
The economy is not as important as the defendant’s attempted coup and fascism because the economy can recover whereas you can not necessarily recover a democracy that has been lost. Full bodily autonomy for women is more important than the economy as, in my view, voters clearly showed in the midterm. Forgive me, but I am going to go into a little detour here. And I am with the voters here.
There are only a handful of occasions when a new administration makes gains in either or both chambers of Congress during the first or only midterm of a president. In 2018, Donald Trump made gains in the Senate. However, the Senate, clearly, is unrepresentative of the country as a whole, especially when you consider that only one third of US senators are on the ballot every two years. On the other hand, Donald Trump’s Republican Party lost 41 seats, the greatest Democratic Party gain in the House of Representatives in a midterm since Watergate. While President Biden’s Democratic Party gained one seat in the US Senate, the losses in the House of Representatives were very muted. The Republican Party’s take over of the House of Representatives not only was by a very small margin, it was largely fueled by gerrymandering. The Republican Party now has a margin of 2 seats in the House of Representatives. President Biden’s results in the 2022 midterm are, therefore, very different than Donald Trump’s. In 2002, Former President George W Bush’s Republican Party made gains in Congress. However, this was due to the rally around the flag effect after the September 11th attacks. In 2002, Former President George W Bush had an approval rating of 71%. When the new incumbent president has an approval rating of 71%, of course, their political party will make gains in Congress during the midterms. President Biden did not have in 2022 and does not have now an approval rating that is above 50%, much less does he have an approval rating of 71%. In 1934, FDR’S Democratic Party gained nine seats in the House of Representatives and nine seats in the US Senate . President FDR was leading the country slowly out of the Great Depression and making it clear that he understood what the nation was enduring. I think this is sui generis, one of a kind. I don’t find it useful in understanding the results of the 2022 midterms.
.
Historically, the new president’s political party suffers setbacks in both chambers of Congress in the first midterm. I suspect that this is for at least three reasons: (1) the voters who powered the new president into office found out that their president whom they supported is not a dictator or God. (2) the voters who brought the new administration to power become complacent. (3) the voters of the political party out of power are now enraged because the devil is now in the White Houses.
.
President Biden and his Democratic Party overcame historical trends, high inflation, and a low approval rating to only yield control of the House of Representatives to the Republican Party by a relatively small margin and to actually gain a seat in the US Senate. What could account for this? This is the power of the famously awful Dobbs decision. The Democratic Party has overperformed in 39 special elections since the midterms. This is Dobbs.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
..
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
..
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.