Total employment (persons actually working) in the US is still below the totals for the years 2006, 2007 and 2008. Total employment has increased by only 4 million jobs from 2009 to 2014. Four million jobs! In a so-called recovery from a major recession. Aggregate employment still less than 8 years ago. This is what you are celebrating?
The economy has added almost two trillion in GDP and we financed it with almost eight trillion in borrowing. What does that make the multiplier? 0.25? How about -0.25? There was also nearly that amount in monetary stimulus.
Here are some pesky facts:
ReplyDeleteTotal employment (persons actually working) in the US is still below the totals for the years 2006, 2007 and 2008. Total employment has increased by only 4 million jobs from 2009 to 2014. Four million jobs! In a so-called recovery from a major recession. Aggregate employment still less than 8 years ago. This is what you are celebrating?
(Yes, I know. Bush's fault!)
The economy has added almost two trillion in GDP and we financed it with almost eight trillion in borrowing. What does that make the multiplier? 0.25? How about -0.25? There was also nearly that amount in monetary stimulus.
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