Kurgman: Presidents and Jobs

[Triana]

Somewhat related to: http://sync.democraticunderground.com/10025623871

There are growing hints that if Republicans take the Senate, they will voodooize the CBO, making “dynamic scoring” — that is, the assumption that tax cuts sharply boost economic growth — a key feature of budget estimates. There is, of course, zero evidence for this proposition and lots of evidence against. For later reference, I thought I’d post a couple of charts, one that won’t surprise you and one that might.

The first chart, from CBPP, compares the years following the Clinton tax hike with the years following the Bush tax cuts:



But, but, Obummer! Well, here’s private job creation under Bush and Obama:



Both administrations began with a period of falling employment thanks to a burst bubble — but can you see how much more vigorous private job creation was after the Bush trough than after the Obama trough? Neither can I. If job growth has seemed slow under Obama, it’s entirely because of public sector austerity. (ie: sequester and other Republican cuts)

SOURCE:

http://krugman.blogs.nytimes.com/2014/10/05/presidents-and-jobs/?smid=tw-share