The Obama Legacy - Week 199

The news media has been telling us about the new jobs created, but not about the existing jobs being lost. These are the number of layoffs, bankruptcies and companies that have gone out of business.

After the election last week, I've had some people tell me that they supported Barack Obama because of all the jobs he has created. It then occurred to me that the news media has been telling us about the new jobs created but not about the existing jobs being lost. In order to provide the other side of the job market equation These are the number of layoffs, bankruptcies and companies that have gone out of business.

This is week 199 of Barack Obama's Presidency

68 Companies announced layoffs

20,996 people were laid off

80 Companies went out of business

11 Companies went into bankruptcy


November 2012 (Month to date)

127 Companies announced layoffs

100,255 people were laid off

313 Companies went out of business

41 Companies went into bankruptcy


The Obama Legacy - Week 199

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Kelly Roney November 22, 2012 at 02:07 AM
Correction of bald error is not condescension. If you accuse me of sarcasm, I'll happily own up to it. We don't have Glass-Steagall because not enough other states have elected people like Elizabeth Warren to Congress. By the way, putting investment banks and commercial banks under single enterprises won't work. They need to be separate to keep incentive and risk aligned. The Bush SEC drastically lowered enforcement through its political appointee Chris Cox: "During Cox's tenure, penalties imposed on companies fell 84 percent, from $1.59 billion in 2005 to $256 million in 2008." http://www.washingtonpost.com/wp-dyn/content/article/2009/05/31/AR2009053102254.html Barney Frank and Chris Dodd probably had less than zero influence over Bush Administration finance regulators. Nope, the 2008 financial panic and subsequent Great Recession were squarely the fault of laissez-faire Republican ideology, which puts the interests of the already obscenely rich ahead of an orderly and non-catastrophic market.
Linda Worthy November 22, 2012 at 04:44 AM
Romney / Ryan support Black Friday and Shop Small Saturday http://store.mittromney.com/apparel/t-shirts/
Aaron November 22, 2012 at 04:28 PM
Sit back and watch the downward spiral
Max Walker November 22, 2012 at 06:29 PM
mike: why such pretzelling in answer to a simple question? and so what if it's a gotcha question? answer it straightforwardly. if the republican base is not anti science, the answers are that the age of the universe is 13.7 billion years (yes that first decimal place is important; that's how accurate the estimates are) and that the age of the earth is 4.5 billion years old. he could have then added that written biblical records say something else, but that he has no wish to participate in an unproductive science versus faith discussion. that he chose not to do that is very telling.
David Nolta November 23, 2012 at 01:28 PM
Yes, when I was in junior high school, I dealt with a lot of bullies. As I said, they were all cowards. Two or three of them turned out to be decent people when they grew up. It never crossed my mind that I might be the problem--since I never spoke to them or engaged them in any way. I was quite small physically when I was a child. And I wore glasses, and, well, I read a lot and that provokes some people. Though I never did anything to engage these bullies, I did stop running from them, and that's how I learned that they were, generally speaking, cowards. Oh but Chris L, you already knew all of this, from your background checks, and my picture... The economy remains OURS, Chris L. Neither your threats nor your misrepresentations of other people's positions change that. It's not warm, it's not fuzzy. It's a fact.


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