Abbott and Costello on unemployment
Feb 5, 2016 11:53:58 #
ole sarg
Loc: south florida
You mean like the following:
Pollution:
The Political Economy Research Institute ranks Koch Industries as the fourteenth worst air polluter in the U.S. in their Toxic Release Inventory, above oil giants like BP, Shell and Chevron and large coal utilities like American Electric Power and Duke Energy. CARMA reports that Koch releases about 200,000 tons of atmospheric carbon dioxide annually.
Koch Industries environmental crimes, violations, and contamination include:
Two chlorine dioxide chemical leaks from a Koch-owned cellulose facility in Taylor County Florida in May, 2014.
Subsidiaries of Koch Carbon have accumulated massive piles of petroleum coke in U.S. cities like Detroit and Chicago, where the toxic dust has blown into peoples' homes from a 5-story-tall pile of petcoke. Petcoke is a byproduct of refining tar sands that is usually burned like coal. Petcoke, which is more carbon-intensive than coal, is typically exported and burned in other countries with little to no air or climate regulations. While Detroit's mayor ordered Koch to move its petcoke pile, Chicago regulators and politicians have not acted with the same urgency despite sustained local protests from community members, nurses, and threats of lawsuits from environmental groups. In response, Koch claims it will add protections to its unlined pile, which could take two years.
Facing "enormous" cleanup costs for soil and groundwater contamination and high crude oil prices, Flint Hills announced in 2014 that it would permanently close its North Pole refinery outside of Fairbanks, Alaska. Koch blames contamination on the refinery's previous owner, Williams Companies.
Ongoing releases of benzene and other chemicals from Koch's oil refinery in Corpus Christi, Texas, where refinery communities experience high rates of illnesses.
Hundreds of thousands of pounds of toxic chemical contamination from Koch-owned Georgia-Pacific facility in Crossett, Arkansas, as reported in 2011.
In 2009, the US Justice Department and EPA announced in 2009 that Koch Industries' Invista subsidiary would pay a $1.7 million penalty and spend $500 million to fix environmental violations at facilities in seven states, in an agreement with the US EPA and Department of Justice.
In May 2001, Koch Industries paid $25 million to settle with the US Government over a long-standing suit brought by Bill Koch - one of the brothers bought out in 1983 - for the company's long-standing practice of illegally removing oil from federal and Indian lands.
In late 2000, the company was charged with covering up the illegal releases of 91 tons of the known carcinogen benzene from its refinery in Corpus Christi. Initially facing a 97-count indictment and potential fines of $350 million, Koch cut a deal with then-Attorney General John Ashcroft to drop all major charges in exchange for a guilty plea for falsifying documents, and a $20 million settlement.
In 2000, the EPA fined Koch Industries $30 million for its role in 300 oil spills that resulted in more than three million gallons of crude oil leaking into ponds, lakes, streams and coastal waters.
In 1999 a Koch subsidiary pleaded guilty to charges that it had negligently allowed aviation fuel to leak into waters near the Mississippi River from its refinery in Rosemount, Minnesota, and that it had illegally dumped a million gallons of high-ammonia wastewater onto the ground and into the Mississippi.
Koch's negligence toward environmental safety has led to tragic losses of life. In 1996, a rusty Koch pipeline leaked flammable butane near a Texas residential neighborhood. Warned by the smell of gas, two teenagers drove their truck toward the nearest payphone to call for help, but they never made it. Sparks from their truck ignited the gas cloud and the two burned alive. The National Transportation Safety Board determined that "the probable cause of this accident was the failure of Koch to adequately protect its pipeline from corrosion" and the ineffectiveness of Koch's program to educate local residents about how to respond during a pipeline leak.
The inability of Koch companies to avoid pollution incidents stands in contrast with Charles Koch's "Guiding Principles" of his trademarked corporate management theory, "Market-Based Management," which states, "Strive for 10,000% compliance with all laws and regulations, which requires 100% of employees fully complying 100% of the time." This also excludes from consideration the ways in which Koch is permitted to legally pollute.
Formaldehyde, Cancer, and David Koch
While David Koch, a victim of prostate cancer, has donated millions to cancer research institutions and is a member of the National Cancer Advisory Board, Koch Industries subsidiary Georgia-Pacific is actively working to downplay the dangers of formaldehyde, a known carcinogen.
Financing of climate science denial front groups:
Koch Industries and the Koch family spend millions of dollars on lobbyists to fight climate and energy legislation, millions more on politicians, and still more millions on organizations denying climate change. Through the Charles G. Koch Charitable Foundation as well as Koch Industries and the other Koch family foundations, numerous and substantial donations go to organizations that deny, skepticize or belittle the significance of global warming. Compared to ExxonMobil, which has spent over $27.4 million on skeptic groups since 1998, foundations linked to Koch Industries have spent over $70 million in traceable contributions to the same network of organizations, with addition untraceable funding funnelled through organizations like Donors Trust. Key Koch-backed organizations include the Americans for Prosperity Foundation, which was founded and remains chaired by David Koch, the Cato Institute, which Charles Koch co-founded and David Koch remains a board member after an attempted coup, the Institute for Humane Studies, which is chaired by Charles Koch, and the Reason Foundation, of which David Koch is a trustee.
Koch Industries is a member of the American Legislative Exchange Council (ALEC) and part of ALEC's Energy, Environment and Agriculture task force. Through ALEC, Koch works with state legislators to distribute anti-environmental model bills across the country that delay policy solutions to climate change, block clean energy, prevent EPA from regulating coal pollution, fasttrack coal mining projects and other dirty energy initiatives. Koch's support for ALEC is unique; Charles Koch helped bail ALEC out during financial trouble in the late 1990s; Koch lobbyist Mike Morgan has severed on ALEC's private enterprise board for over a decade (see PR Watch references, paragraph 6).
Koch Industries was the 2011 inductee for Corporate Accountability International's Corporate Hall of Shame for "spending over $50 million to fund climate change denial and influencing the Supreme Court's decision to allow unlimited corporate dollars to flow into federal elections." Koch Industries is the sixth member of the Hall of Shame, after Monsanto, Chevron, ExxonMobil, Blackwater and Halliburton.
Political Expenditures:
Koch Industries is a major political contributor, spending over $22 million on federal political candidates since 1999.
Koch Industries has spent $79 million on federal lobbying since 1998, when disclosure became mandatory.
Koch Industries spent $1 million to promote California Proposition 23, intended to undermine the states clean energy and climate law, through subsidiary company Flint Hills Resources. Koch also pushed Prop 23 through one of their beneficiary front groups, the Pacific Research Institute, which published and promoted reports that made favorable economic arguments for Prop 23 using >flawed methodologies>.
Koch worked behind the scenes during the 2010 Rally for Jobs astroturf events, coordinated by the American Petroleum Institute in order to create political pressure against clean energy and climate legislation in the interest of the oil and gas industry. Groups such as Americans for Prosperity and FreedomWorks, which are both heavily funded by the Koch brothers and founded by David Koch, were partner organizations in promoting the rallies.
Support for Wisconsin Governor Scott Walker
In conjunction with $43,000 in 2010 political donations from Koch Industries to Republican Wisconsin Gov. Scott Walker, Koch-founded and -financed Americans for Prosperity has coordinated support for the Governor's union busting efforts. Wisconsin's budget crisis has been inflamed by corporate tax cuts initiated by Gov. Walker, who then used the lack of income to justify taking bargaining rights from Wisconsin union workers and cutting the salaries and benefits of state employees. This process was advised by the American Legislative Exchange Council, which has received over $500,000 from Koch Industries since 1997, and over $1.4 million from ExxonMobil. Koch Industries holds numerous business operations in Wisconsin.
International bribes and trading with Iran:
Bloomberg Markets Magazine reports that Koch Industries, through a French subsidiary, sold millions of dollars of petrochemical equipment to Iran, and also appears to have bribed companies in countries like Saudi Arabia, Morocco, Algeria, India and Nigeria to solicit business contracts from 2002-2008.
Role in Keystone XL tar sands pipeline:
Koch Industries has been involved in tar sands operations for half a century. Koch refines 25% of tar sands crude oil entering the U.S. and operates a terminal at the proposed pipeline's origin in Hardisty, Alberta. Koch Industries has repeatedly denied any financial interest in TransCanada's Keystone XL pipeline. After 6 months of public insistence that Koch Industries had nothing to do with Keystone XL, news emerged that Koch's wholly-owned subsidiary Flint Hills Resources told Canada's Energy Board it has "direct and substantial interest" in a government filing. Flint Hills owns Koch's Pine Bend refinery in Rosemont, Minnesota, whichcan process 339,000 barrels of oil per day, and "is among the top processors of Canadian crude in the United States. Koch has continued to deny any financial link to TransCanada's proposed Keystone XL pipeline, although Americans for Prosperity (which was founded by the Kochs, chaired by David Koch and funded by over $5.6 million from Koch foundations) bussed pipeline supporters to testify at State Department Hearings in Nebraska.
Pollution:
The Political Economy Research Institute ranks Koch Industries as the fourteenth worst air polluter in the U.S. in their Toxic Release Inventory, above oil giants like BP, Shell and Chevron and large coal utilities like American Electric Power and Duke Energy. CARMA reports that Koch releases about 200,000 tons of atmospheric carbon dioxide annually.
Koch Industries environmental crimes, violations, and contamination include:
Two chlorine dioxide chemical leaks from a Koch-owned cellulose facility in Taylor County Florida in May, 2014.
Subsidiaries of Koch Carbon have accumulated massive piles of petroleum coke in U.S. cities like Detroit and Chicago, where the toxic dust has blown into peoples' homes from a 5-story-tall pile of petcoke. Petcoke is a byproduct of refining tar sands that is usually burned like coal. Petcoke, which is more carbon-intensive than coal, is typically exported and burned in other countries with little to no air or climate regulations. While Detroit's mayor ordered Koch to move its petcoke pile, Chicago regulators and politicians have not acted with the same urgency despite sustained local protests from community members, nurses, and threats of lawsuits from environmental groups. In response, Koch claims it will add protections to its unlined pile, which could take two years.
Facing "enormous" cleanup costs for soil and groundwater contamination and high crude oil prices, Flint Hills announced in 2014 that it would permanently close its North Pole refinery outside of Fairbanks, Alaska. Koch blames contamination on the refinery's previous owner, Williams Companies.
Ongoing releases of benzene and other chemicals from Koch's oil refinery in Corpus Christi, Texas, where refinery communities experience high rates of illnesses.
Hundreds of thousands of pounds of toxic chemical contamination from Koch-owned Georgia-Pacific facility in Crossett, Arkansas, as reported in 2011.
In 2009, the US Justice Department and EPA announced in 2009 that Koch Industries' Invista subsidiary would pay a $1.7 million penalty and spend $500 million to fix environmental violations at facilities in seven states, in an agreement with the US EPA and Department of Justice.
In May 2001, Koch Industries paid $25 million to settle with the US Government over a long-standing suit brought by Bill Koch - one of the brothers bought out in 1983 - for the company's long-standing practice of illegally removing oil from federal and Indian lands.
In late 2000, the company was charged with covering up the illegal releases of 91 tons of the known carcinogen benzene from its refinery in Corpus Christi. Initially facing a 97-count indictment and potential fines of $350 million, Koch cut a deal with then-Attorney General John Ashcroft to drop all major charges in exchange for a guilty plea for falsifying documents, and a $20 million settlement.
In 2000, the EPA fined Koch Industries $30 million for its role in 300 oil spills that resulted in more than three million gallons of crude oil leaking into ponds, lakes, streams and coastal waters.
In 1999 a Koch subsidiary pleaded guilty to charges that it had negligently allowed aviation fuel to leak into waters near the Mississippi River from its refinery in Rosemount, Minnesota, and that it had illegally dumped a million gallons of high-ammonia wastewater onto the ground and into the Mississippi.
Koch's negligence toward environmental safety has led to tragic losses of life. In 1996, a rusty Koch pipeline leaked flammable butane near a Texas residential neighborhood. Warned by the smell of gas, two teenagers drove their truck toward the nearest payphone to call for help, but they never made it. Sparks from their truck ignited the gas cloud and the two burned alive. The National Transportation Safety Board determined that "the probable cause of this accident was the failure of Koch to adequately protect its pipeline from corrosion" and the ineffectiveness of Koch's program to educate local residents about how to respond during a pipeline leak.
The inability of Koch companies to avoid pollution incidents stands in contrast with Charles Koch's "Guiding Principles" of his trademarked corporate management theory, "Market-Based Management," which states, "Strive for 10,000% compliance with all laws and regulations, which requires 100% of employees fully complying 100% of the time." This also excludes from consideration the ways in which Koch is permitted to legally pollute.
Formaldehyde, Cancer, and David Koch
While David Koch, a victim of prostate cancer, has donated millions to cancer research institutions and is a member of the National Cancer Advisory Board, Koch Industries subsidiary Georgia-Pacific is actively working to downplay the dangers of formaldehyde, a known carcinogen.
Financing of climate science denial front groups:
Koch Industries and the Koch family spend millions of dollars on lobbyists to fight climate and energy legislation, millions more on politicians, and still more millions on organizations denying climate change. Through the Charles G. Koch Charitable Foundation as well as Koch Industries and the other Koch family foundations, numerous and substantial donations go to organizations that deny, skepticize or belittle the significance of global warming. Compared to ExxonMobil, which has spent over $27.4 million on skeptic groups since 1998, foundations linked to Koch Industries have spent over $70 million in traceable contributions to the same network of organizations, with addition untraceable funding funnelled through organizations like Donors Trust. Key Koch-backed organizations include the Americans for Prosperity Foundation, which was founded and remains chaired by David Koch, the Cato Institute, which Charles Koch co-founded and David Koch remains a board member after an attempted coup, the Institute for Humane Studies, which is chaired by Charles Koch, and the Reason Foundation, of which David Koch is a trustee.
Koch Industries is a member of the American Legislative Exchange Council (ALEC) and part of ALEC's Energy, Environment and Agriculture task force. Through ALEC, Koch works with state legislators to distribute anti-environmental model bills across the country that delay policy solutions to climate change, block clean energy, prevent EPA from regulating coal pollution, fasttrack coal mining projects and other dirty energy initiatives. Koch's support for ALEC is unique; Charles Koch helped bail ALEC out during financial trouble in the late 1990s; Koch lobbyist Mike Morgan has severed on ALEC's private enterprise board for over a decade (see PR Watch references, paragraph 6).
Koch Industries was the 2011 inductee for Corporate Accountability International's Corporate Hall of Shame for "spending over $50 million to fund climate change denial and influencing the Supreme Court's decision to allow unlimited corporate dollars to flow into federal elections." Koch Industries is the sixth member of the Hall of Shame, after Monsanto, Chevron, ExxonMobil, Blackwater and Halliburton.
Political Expenditures:
Koch Industries is a major political contributor, spending over $22 million on federal political candidates since 1999.
Koch Industries has spent $79 million on federal lobbying since 1998, when disclosure became mandatory.
Koch Industries spent $1 million to promote California Proposition 23, intended to undermine the states clean energy and climate law, through subsidiary company Flint Hills Resources. Koch also pushed Prop 23 through one of their beneficiary front groups, the Pacific Research Institute, which published and promoted reports that made favorable economic arguments for Prop 23 using >flawed methodologies>.
Koch worked behind the scenes during the 2010 Rally for Jobs astroturf events, coordinated by the American Petroleum Institute in order to create political pressure against clean energy and climate legislation in the interest of the oil and gas industry. Groups such as Americans for Prosperity and FreedomWorks, which are both heavily funded by the Koch brothers and founded by David Koch, were partner organizations in promoting the rallies.
Support for Wisconsin Governor Scott Walker
In conjunction with $43,000 in 2010 political donations from Koch Industries to Republican Wisconsin Gov. Scott Walker, Koch-founded and -financed Americans for Prosperity has coordinated support for the Governor's union busting efforts. Wisconsin's budget crisis has been inflamed by corporate tax cuts initiated by Gov. Walker, who then used the lack of income to justify taking bargaining rights from Wisconsin union workers and cutting the salaries and benefits of state employees. This process was advised by the American Legislative Exchange Council, which has received over $500,000 from Koch Industries since 1997, and over $1.4 million from ExxonMobil. Koch Industries holds numerous business operations in Wisconsin.
International bribes and trading with Iran:
Bloomberg Markets Magazine reports that Koch Industries, through a French subsidiary, sold millions of dollars of petrochemical equipment to Iran, and also appears to have bribed companies in countries like Saudi Arabia, Morocco, Algeria, India and Nigeria to solicit business contracts from 2002-2008.
Role in Keystone XL tar sands pipeline:
Koch Industries has been involved in tar sands operations for half a century. Koch refines 25% of tar sands crude oil entering the U.S. and operates a terminal at the proposed pipeline's origin in Hardisty, Alberta. Koch Industries has repeatedly denied any financial interest in TransCanada's Keystone XL pipeline. After 6 months of public insistence that Koch Industries had nothing to do with Keystone XL, news emerged that Koch's wholly-owned subsidiary Flint Hills Resources told Canada's Energy Board it has "direct and substantial interest" in a government filing. Flint Hills owns Koch's Pine Bend refinery in Rosemont, Minnesota, whichcan process 339,000 barrels of oil per day, and "is among the top processors of Canadian crude in the United States. Koch has continued to deny any financial link to TransCanada's proposed Keystone XL pipeline, although Americans for Prosperity (which was founded by the Kochs, chaired by David Koch and funded by over $5.6 million from Koch foundations) bussed pipeline supporters to testify at State Department Hearings in Nebraska.
Checkmate wrote:
We have Koch brothers on our side doing a lot more for humanity than you having that Nazi supporter George Soros on your left wing DEMOCRAP side!
Feb 5, 2016 13:25:46 #
Checkmate wrote:
We have Koch brothers on our side doing a lot more for humanity than you having that Nazi supporter George Soros on your left wing DEMOCRAP side!
George Soros Does not support Trump!
Feb 5, 2016 13:27:09 #
Checkmate wrote:
We have Koch brothers on our side doing a lot more for humanity than you having that Nazi supporter George Soros on your left wing DEMOCRAP side!
Boy! You Drank more than just the Kool Aid! I have never heard of Koch industries described as doing something for Humanity. I think you have Them confused with the Clinton Foundation!
Feb 5, 2016 13:40:58 #
Rbode
Loc: Ft lauderdale, Fla
richard-sports wrote:
Gee whiz, I did not realize they counted the unemployed differently with Obama as President then when Bush was President. Thank you for bringing us up to date. We get such useful information here on UHH from the intellectual side of the group. Again, let me express my appreciation for your intelligent posting.
It's possible you're ignorant, the same formula was used during the Bush administration, Bush was wise enough not to boast about it. Obama's ego doesn't allow him to be wise, with Obama it's all about Obama.
Feb 5, 2016 13:45:18 #
Rbode wrote:
It's possible you're ignorant, the same formula was used during the Bush administration, Bush was wise enough not to boast about it. Obama's ego doesn't allow him to be wise, with Obama it's all about Obama.
Maybe, just Maybe he could not boast about his numbers. I guess you did not take that into consideration. We were only losing 800,000 jobs a month during the end. LOL
Feb 5, 2016 13:46:32 #
Rbode
Loc: Ft lauderdale, Fla
Reddog wrote:
Boy! You Drank more than just the Kool Aid! I have never heard of Koch industries described as doing something for Humanity. I think you have Them confused with the Clinton Foundation!
Reddog you're an ignorant dog.
"What tends to go unmentioned: the owners of Koch Industries, one of the world's biggest conglomerates, have kicked in an estimated $1.5 billion or so to an array of causes and institutions most liberals love: public television, medical research, higher education, environmental stewardship, criminal justice reform and the arts." - U.S.NEWS
Feb 5, 2016 13:50:59 #
Rbode wrote:
Reddog you're an ignorant dog.
"What tends to go unmentioned: the owners of Koch Industries, one of the world's biggest conglomerates, have kicked in an estimated $1.5 billion or so to an array of causes and institutions most liberals love: public television, medical research, higher education, environmental stewardship, criminal justice reform and the arts." - U.S.NEWS
"What tends to go unmentioned: the owners of Koch Industries, one of the world's biggest conglomerates, have kicked in an estimated $1.5 billion or so to an array of causes and institutions most liberals love: public television, medical research, higher education, environmental stewardship, criminal justice reform and the arts." - U.S.NEWS
ALL while they are making billions and killing your grandchildren by destroying the Planet. They do this so Fools do not notice the damage caused by them. Do a little research instead of name calling, educate yourself so someone can take your comments seriously!
Feb 5, 2016 13:54:25 #
Rbode wrote:
Reddog you're an ignorant dog.
"What tends to go unmentioned: the owners of Koch Industries, one of the world's biggest conglomerates, have kicked in an estimated $1.5 billion or so to an array of causes and institutions most liberals love: public television, medical research, higher education, environmental stewardship, criminal justice reform and the arts." - U.S.NEWS
"What tends to go unmentioned: the owners of Koch Industries, one of the world's biggest conglomerates, have kicked in an estimated $1.5 billion or so to an array of causes and institutions most liberals love: public television, medical research, higher education, environmental stewardship, criminal justice reform and the arts." - U.S.NEWS
The Koch Brothers plan to donate 900 million to the GOP in just 2016! Your number of $1.5 billion is nothing to them.
Feb 5, 2016 13:55:39 #
ole sarg
Loc: south florida
Bush and wise in the same sentence!
Yes he was wise to not tout a failed economic policy!
Blog > Bush vs. Obama on the Economy, In 3 Simple Charts [UPDATED]
Bush vs. Obama on the Economy, In 3 Simple Charts [UPDATED]
DECEMBER 8, 2014
Bill Scher
Bill Scher
UPDATED DECEMBER 4, 2015
The back-to-back Bush and Obama administrations allow us to easily compare the effectiveness of liberal and conservative economic policies. President George W. Bushs record is highlighted by tax cuts largely aimed at giving the wealthiest Americans more money with which to invest, and a looser regulatory regime on businesses. President Obama implemented the Keynesian-style American Recovery and Reinvestment Act (also known as the stimulus), repealed the heart of the Bush tax cuts, greatly expanded the federal governments role in health care with the Affordable Care Act, and tightened regulations on several industry sectors including finance and energy.
How do their economic records compare?
Lets start with the big one: jobs. And lets make it fair to Republicans and only look at private sector job creation no Democratic cheating by putting all the unemployed on the government payroll!
Bush vs. Obama: Private Sector Job Creation
bushobamajobs1115
Bush lost private sector jobs over the course of his eight years (the Wall Street Journal declared it the Worst Track Record On Record on jobs), while Obama has created a net of 9.5 million private sector jobs during his presidency, and nearly 13 million if you start counting after the Great Recession Bush handed Obama technically ended in mid-2009.
Bush vs. Obama: Unemployment Rate
Similarly, while Bushs policies drove up the unemployment rate, Obamas has pushed it down.
bushobamaunemployment1115
The above, like the other line chart below, is a simplified graph that removes all month-to-month fluctuations during their presidencies, to clarify the bottom line.
Now sometimes reductions in the unemployment rate are dismissed, because the lower percentage comes from unemployed people giving up and leaving the workforce instead of getting a job. In turn, analysts often look at the employment-population ratio to see what percent of our population is actually working. But the steady increase in job creation over the last year has begun to lift the employment-population ratio as well.
Under Bush, the employment-population ratio dropped 3.8 percentage points, from 64.4 percent to 60.6 percent. Under Obama, it fell another 2.4 percentage points by October 2013, but since has regained half of that loss and now sits at 59.3 percent. With continued steady job gains, Obama could leave office with a net positive increase.
Again, Obamas overall record bests Bushs lest you thought Bushs near-doubling of the unemployment rate was due to millions of people rushing to get back into the job hunt.
Bush vs. Obama: Corporate Profits
bushobamaprofits1115
It may seem off-base to look at corporate profits when the middle class is still struggling.
Median household income was down 4.2 percent on Bushs watch and then another 4.9 percent during Obamas first term.
However, in the first year of Obamas second term, median household income ticked up 0.3 percent (see Table H-5 on this Census Bureau page of household income data), the first year with an increase since 2007. Also, average hourly earnings of private sector employees have risen, though slowly, up 14 percent during the course of Obamas presidency.
This could mean income declines hit bottom in 2012, and the other economic successes of the Obama administration are beginning to translate into improvements felt by the middle class. The other silver lining for the middle class is that inflation has been lower under Obama than Bush (with essentially no movement in 2015) so at least flat wages arent losing purchasing power.
Still, stagnant wages have been a persistent problem both before and after the crash. According to a 2013 report from the Economic Policy Institute, by one measure wages only grew 2.4 percent between 2000 and 2007, under Bush yet before the crash, then have basically stayed flat since. Presuming that wages can rise enough to rescue the middle class without any new policies would be a big risk.
A big debate awaits us on how we solve the problem of stagnant wages holding back middle-class prosperity. Considering that under Bush, corporations did worse than under Obama, household income still fell and private sector jobs were lost, perhaps conservative economic policies should not be our North Star.
Yes he was wise to not tout a failed economic policy!
Blog > Bush vs. Obama on the Economy, In 3 Simple Charts [UPDATED]
Bush vs. Obama on the Economy, In 3 Simple Charts [UPDATED]
DECEMBER 8, 2014
Bill Scher
Bill Scher
UPDATED DECEMBER 4, 2015
The back-to-back Bush and Obama administrations allow us to easily compare the effectiveness of liberal and conservative economic policies. President George W. Bushs record is highlighted by tax cuts largely aimed at giving the wealthiest Americans more money with which to invest, and a looser regulatory regime on businesses. President Obama implemented the Keynesian-style American Recovery and Reinvestment Act (also known as the stimulus), repealed the heart of the Bush tax cuts, greatly expanded the federal governments role in health care with the Affordable Care Act, and tightened regulations on several industry sectors including finance and energy.
How do their economic records compare?
Lets start with the big one: jobs. And lets make it fair to Republicans and only look at private sector job creation no Democratic cheating by putting all the unemployed on the government payroll!
Bush vs. Obama: Private Sector Job Creation
bushobamajobs1115
Bush lost private sector jobs over the course of his eight years (the Wall Street Journal declared it the Worst Track Record On Record on jobs), while Obama has created a net of 9.5 million private sector jobs during his presidency, and nearly 13 million if you start counting after the Great Recession Bush handed Obama technically ended in mid-2009.
Bush vs. Obama: Unemployment Rate
Similarly, while Bushs policies drove up the unemployment rate, Obamas has pushed it down.
bushobamaunemployment1115
The above, like the other line chart below, is a simplified graph that removes all month-to-month fluctuations during their presidencies, to clarify the bottom line.
Now sometimes reductions in the unemployment rate are dismissed, because the lower percentage comes from unemployed people giving up and leaving the workforce instead of getting a job. In turn, analysts often look at the employment-population ratio to see what percent of our population is actually working. But the steady increase in job creation over the last year has begun to lift the employment-population ratio as well.
Under Bush, the employment-population ratio dropped 3.8 percentage points, from 64.4 percent to 60.6 percent. Under Obama, it fell another 2.4 percentage points by October 2013, but since has regained half of that loss and now sits at 59.3 percent. With continued steady job gains, Obama could leave office with a net positive increase.
Again, Obamas overall record bests Bushs lest you thought Bushs near-doubling of the unemployment rate was due to millions of people rushing to get back into the job hunt.
Bush vs. Obama: Corporate Profits
bushobamaprofits1115
It may seem off-base to look at corporate profits when the middle class is still struggling.
Median household income was down 4.2 percent on Bushs watch and then another 4.9 percent during Obamas first term.
However, in the first year of Obamas second term, median household income ticked up 0.3 percent (see Table H-5 on this Census Bureau page of household income data), the first year with an increase since 2007. Also, average hourly earnings of private sector employees have risen, though slowly, up 14 percent during the course of Obamas presidency.
This could mean income declines hit bottom in 2012, and the other economic successes of the Obama administration are beginning to translate into improvements felt by the middle class. The other silver lining for the middle class is that inflation has been lower under Obama than Bush (with essentially no movement in 2015) so at least flat wages arent losing purchasing power.
Still, stagnant wages have been a persistent problem both before and after the crash. According to a 2013 report from the Economic Policy Institute, by one measure wages only grew 2.4 percent between 2000 and 2007, under Bush yet before the crash, then have basically stayed flat since. Presuming that wages can rise enough to rescue the middle class without any new policies would be a big risk.
A big debate awaits us on how we solve the problem of stagnant wages holding back middle-class prosperity. Considering that under Bush, corporations did worse than under Obama, household income still fell and private sector jobs were lost, perhaps conservative economic policies should not be our North Star.
Rbode wrote:
It's possible you're ignorant, the same formula was used during the Bush administration, Bush was wise enough not to boast about it. Obama's ego doesn't allow him to be wise, with Obama it's all about Obama.
Feb 5, 2016 14:15:55 #
ole sarg wrote:
Bush and wise in the same sentence! br br Yes he ... (show quote)
Careful now. They start name calling when they are shown facts they don't like!
Feb 5, 2016 14:26:11 #
Rbode
Loc: Ft lauderdale, Fla
Reddog wrote:
ALL while they are making billions and killing your grandchildren by destroying the Planet. They do this so Fools do not notice the damage caused by them. Do a little research instead of name calling, educate yourself so someone can take your comments seriously!
Calling someone ignorant is not name calling, you made an untruthful statement, that's ignorant. Too much kool aid for you.
If the Koch companies were doing anywhere near the damage you claim they are the Obama run EPA would be all over them or do you think the Kochs are paying off Obama?
Feb 5, 2016 14:37:57 #
Rbode
Loc: Ft lauderdale, Fla
Reddog wrote:
Careful now. They start name calling when they are shown facts they don't like!
Another clueless liberal, calling someone ignorant of the truth is not name calling. Another form is like stating unproved accusations as facts. Your information is subjective at best.
Feb 5, 2016 14:39:58 #
ole sarg
Loc: south florida
I didn't say anything I only presented you with some facts. BTW just google epa suing koch and you will see that they are!
One's ignorance can be overcome by doing some research. I suggest you try that.
One's ignorance can be overcome by doing some research. I suggest you try that.
Rbode wrote:
Calling someone ignorant is not name calling, you made an untruthful statement, that's ignorant. Too much kool aid for you.
If the Koch companies were doing anywhere near the damage you claim they are the Obama run EPA would be all over them or do you think the Kochs are paying off Obama?
If the Koch companies were doing anywhere near the damage you claim they are the Obama run EPA would be all over them or do you think the Kochs are paying off Obama?
Feb 5, 2016 15:08:47 #
Rbode
Loc: Ft lauderdale, Fla
ole sarg wrote:
I didn't say anything I only presented you with some facts. BTW just google epa suing koch and you will see that they are!
One's ignorance can be overcome by doing some research. I suggest you try that.
One's ignorance can be overcome by doing some research. I suggest you try that.
I didn't find any current court activity. Found most of what you posted and most of that happened during 2000-2003, a 2013 $380,000 fine at a refinery and 2014 very complimentary EPA statement about the Koch actions at Flint Hills.
What i didn't find was Satan or Shiva and Kali. I didn't find a rightwing conspiracy to kill the earth for profit.
Feb 5, 2016 15:23:52 #
Rbode
Loc: Ft lauderdale, Fla
ole sarg wrote:
I didn't say anything I only presented you with some facts. BTW just google epa suing koch and you will see that they are!
One's ignorance can be overcome by doing some research. I suggest you try that.
One's ignorance can be overcome by doing some research. I suggest you try that.
The Koch has agree to pay a lot in fines, so the EPA appears to be doing their job. I would like to know why the government didn't find, catch these situations at an earlier time. My point is, if the government can find by inspection these messes at a point that fines and clean ups are required why not stop it by inspection before it gets out of hand. Still most of this is past tense.
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