Obama Recovery Now Ranks Dead Last
Jul 10, 2012

Washington DC— With the new June jobs report in hand, President Barack
Obama's economic recovery now ranks as the worst in modern times in
terms of both job creation and economic growth, says the GOP leader of
Congress's Joint Economic Committee.

Texas Congressman Kevin Brady, the top Republican on the Joint
Economic Committee, observed that the June Employment Report released
today by the Bureau of Labor Statistics along with the gross domestic
product report released by the Bureau of Economic Analysis on June
28th has marked a milestone: President Obama’s economic recovery ranks
as dead last in the post-World War II era.

“Since 1945, the United States has had ten economic recoveries that
lasted more than one year. In terms of both how fast the U.S. economy
has recovered and how many private sector jobs have been created since
the recession's low point, President Obama now ranks tenth of ten -
that's dead last", said Brady.
“Three years after the recession officially ended in June 2009, we
still have more than four million fewer private sector jobs than we
did when the recession started,” he continued. “And for the 41st
consecutive month, the unemployment rate has soared above a
discouraging 8%.”

Brady says that while President Obama boosts about the 4.4 million
private sector jobs he claims have been created during the latest 28
months, put in perspective "President Obama's recovery has been weaker
than every one of his predecessors in the past seven decades. He can
try to spin it any way he wants but when measured by jobs or by
economic growth he's at the bottom of the list."

Last week, the Bureau of Economic Analysis reported that real GDP grew
expanded by 6.7% over eleven quarters since the recession ended.
Today, the Bureau of Labor Statistics reported the number of private
sector jobs had grown by a mere 4.1% since the cyclical low point.

In contrast, real GDP expanded by 17.6%, and private sector jobs
ballooned by 10.7% during comparable periods of the Reagan recovery.
“Obama’s economic record, frankly, is embarrassing,” Brady said.

“Think about it (THAT’S ASKING A LOT FOR DEMOCRATS) - despite
President Obama's stimulus, financial bailout, housing bailout, auto
bailout, cash-for-clunkers, cash-for-caulkers and an unprecedented
five trillion dollars in deficit spending, the Obama recovery is
officially dead last in results. Can unemployed Americans really
afford four more years of this failed economic leadership?"