The Bureau of Labor Statistics preliminary estimate for job losses for June is 467,000, which means 7.2 million people have lost their jobs since the start of the recession. The cumulative job losses over the last six months have been greater than for any other half year period since World War II, including the military demobilization after the war. The job losses are also now equal to the net job gains over the previous nine years, making this the only recession since the Great Depression to wipe out all job growth from the previous expansion.The past six months are Obama's work. Impressive.
Tuesday, July 14, 2009
From the war in Iraq, to missile defense for Eastern Europe, from increasing domestic oil and gas production to embryonic stem cell research, the Obama administration has been hellbent on reversing virtually everything set in place by the previous administration. Where we have seen backpedaling on the part of the Obama stampede to undo everything Bush it has been because of inconvenient intervening facts, as in the case of jihadi recidivism and the related Gitmo closure problems. Here's another bit of the Bush legacy recently undone as reported by the Wall Street Journal: