Sunday, October 31, 2010

Daily Kos: State of the Nation

Daily Kos: State of the Nation

Questions:
What was the average monthly private sector job growth in 2008, the final year of the Bush presidency, and what has it been so far in 2010?

What was the Federal deficit for the last fiscal year of the Bush presidency, and what was it for the first full fiscal year of the Obama presidency?

What was the stock market at on the last day of the Bush presidency? What is it at today?

Answers:
In 2008, we lost an average of 317,250 private sector jobs per month. In 2010, we have gained an average of 95,888 private sector jobs per month. (Source) That's a difference of nearly five million jobs between Bush's last year in office and President Obama's second year.

In FY2009, which began on September 1, 2008 and represents the Bush Administration's final budget, the budget deficit was $1.416 trillion. In FY2010, the first budget of the Obama Administration, the budget deficit was $1.291 trillion, a decline of $125 billion. (Source) Yes, that means President Obama has cut the deficit -- there's a long way to go, but we're in better shape now than we were under Bush and the GOP.

On Bush's final day in office, the Dow, NASDAQ, and S&P 500 closed at 7,949, 1,440, and 805, respectively. Today, as of 10:15AM Pacific, they are at 11,108, 2,512, and 1,183. That means since President Obama took office, the Dow, NASDAQ, and S&P 500 have increased 40%, 74%, and 47%, respectively.

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