Obama's Version of Trickle Down Economics

Discussion in 'Politics' started by InTheLight, Sep 4, 2012.

  1. InTheLight

    InTheLight
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    The Democrats make a lot of noise about not going back to the failed policies of the past, of not going back to 'trickle down economics' which they claim was a failure. Trickle down economics is the idea that by giving tax breaks to the wealthy and all others, the excess money in turn is supposed to work its way down the economic strata eventually benefiting the middle class and the poor by creating jobs.

    Obama and the Democrats have their own version of trickle down economics. They believe that if they create money out of thin air, assign that money to a favored contractor via a government project, the excess money is supposed to work its way down the economic strata eventually benefiting the middle class and the poor by creating jobs.

    In the first four months of Reagan's term in 1984, 1,564,000 new jobs were created. Obama's first four months of 2012 has seen 705,000 jobs created, less than half the amount under Reagan.

    Reagan's job growth averaged 300,000 jobs per month from May through October 1984 (six months). In Obama's version of trickle down government economics over the past six months there has been an average of 129,000 jobs per month.

    For Jan - Oct 1984, there were 4.1 million new jobs created under Reagan. For Obama to match that number there would need to be 1.03 million jobs created in Aug, Sep, and October leading up to the election.

    So forgive me if I'd like to go back to the policies of the past.
     

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