What if we give the President the benefit of the doubt? What if his economic polices and tax cuts have resulted in 759,000 new jobs?
Bush credits progress to his cutting of taxes
According to the Labor Department, 759,000 new jobs have been created in the past seven months
Those same tax cuts are largely responsible for the record annual deficits in the neighborhood of $500 Billion.
Lets see, $500,000,000,000 divided by 759,000 equals over $650,000 per year per "new job."
I hope these new jobs pay very well since they are certainly costing a lot. And, this is putting about the most positive spin possible on this situation.
In fact, many of the "new jobs" are people giving up looking for full time work and accepting part-time work:
Vast Majority Of Yesterday's Job Growth Came From Full-Time Unemployed Giving Up And Taking Part Time Jobs
But Sohn makes it very clear that the "vast majority" of the increase in job numbers last month came from workers giving up looking for full-time work and accepting whatever part-time work was available.
We are partying on borrowed money. Unfortunately, it is not a very good party:
Monthly Jobs Report
They promised an average of 306,000 jobs per month through the end of 2004. They haven't actually achieved anything close to that in a single month, let alone on average.
There are more people out of work than at anytime in the history of this country. And, Bush is bragging about this record.
We have the largest deficit ever in the history of this country and the President is bragging about this record and his tax cuts which lead to this situation.
Lets give him credit for these accomplishments.