Affordable Care Act, Barack Obama, GOPocrisy — February 7, 2015 at 4:24 pm

Even Fox News knows Republicans can’t take credit for the best job creation of the century

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On Fox News: Friday’s jobs report was terrible news, barely worth mentioning. “So the headline is unemployment rate ticks up to 5.7″ percent,” Steve Doocy said, as he quickly wrapped up the segment.

In reality: “This might just be the most perfect payrolls report ever,” according to economist Justin Wolfers. On Twitter, he raved about the strong growth of 257,000 jobs, helpful revisions — which saw November’s gains rise to 423,000 and Decembers pick up to 329,000 — and “useful real wage growth.”

We can say now with certainty that 2014 — with 3.2 million new jobs — was the best year of employment creation this century. Thanks to low gas prices — which are largely out of our control — we’re enjoying the best economy since 1997. And this all happened after two years of tax increases on the rich and expansion of health insurance to at least 10 million.

It’s great news — unless you’re a Republican.

That isn’t to say that everything is awesome. Labor force participation is still too low and we haven’t seen any significant reverse in the trend of workers’ wages stagnating, a trend that began in 1974. These are problems that we had during the George W. Bush administration. They were just ignored by Republicans and everyone else because there were so many other problems.

So things are only awesome compared to the the first 14 years of this century.

We’ve seen near-historic lows in layoffs and more job openings at any time since before George W. Bush took office. And all this couldn’t have come at a worse time — for them, policy-wise.

After six years of cheering against a recovery, it seemed that Republicans would actually try to claim credit for the economy. Mitch McConnell previously noted that growth really took off right as Republicans took control of the Senate — and we laughed.

But on Friday, Republicans decided that they best keep complaining. They said that recovery isn’t widespread enough and use their obligatory responses to demand tax reform and new trade deals. (The irony of this is that tax reform and trade deals helped create the wealth gap that dominates our age and leaves workers struggling to get ahead.)

Taking credit for this economy is increasingly messy for Republicans — and not just because they spent years telling us that Obama and his pet monster Obamacare would destroy it.

Their biggest problem is that it looks like the Affordable Care Act is playing a big role in our recovery.

The private sector hasn’t lost jobs since the law was signed into effect in March of 2010.

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The health care sector had the best month of job creation ever in November.

Health care reform also seems to be giving workers new security, Dan Diamond explains in Forbes: “Harvard’s David Cutler, for instance, has argued that the Affordable Care Act ‘reduces or eliminates many distortions’ in the labor market, including the pressure of being forced to stay in a bad job simply because you need its benefits, like health insurance.”

With job creation suddenly “on fleek,” Republicans realize that they have to say they’re worried about income inequality or what Jeb Bush calls “the Opportunity Gap” but all they have policies that would make it worse.

Republicans can’t even convince themselves to stop calling for more tax breaks for the rich.

There are serious ideas that could tackle this man-made wealth gap: Reforming how executives are compensated, asking workers to participate in corporate governance, eliminating open-market stock buybacks, making child care universal, free college tuition, a tax on risky high-frequency stock trades, child allowances, and ending tax breaks on the richest.

Republicans support a total of none of them.

Instead, the GOP wants to get rid of the one thing we’ve done to seriously take on inequality — Obamacare.

You could say that Republicans are “grasping for ammo.”

Being wrong about everything has never held them back before. Even after Iraq, the Bush tax cuts Katrina, the financial crisis and only contributing sabotage to the recovery, they now hold more seats in the House of Representative and state legislatures in more than a half century.

But even Fox News knows Republicans can’t take credit for economy defined by taxing the rich to expanding health care for millions. All they can do is hope it slows down again — fast.

  • Jack Judo

    I’ve been saying since last year that all the new Repugs in congress will be a good thing for the presidential election in 2016. They’re fighting against policies that are actually working. The numbers don’t lie. That’s very good for Hillary come 2016.

    • judyms9

      Yes, good for Hillary, but the Dem field needs to expand and include Jim Webb, Biden, Martin O’Malley, Sanders, and any others who can serve to emphasize what the Democratic party stands for. That message cannot be drowned out by the GOP’s endless political Mardi Gras between elections.

      LOLGOP and all of Eclectablog, the DNC needs you.

      • Well, my being elected as the Chair of the Washtenaw County Democratic Party last December is the first step in my eventually heading up the DNC. lol.

      • Jack Judo

        I’m a Sanders guy myself but I don’t know that he has the name recognition for a presidential run. I’m rooting for Hilary mainly because having Bill back in the White House as the first “First Man” would only amount to the greatest fucking thing EVER!

        • Charles Dickerson

          Oh God, you’re not one of those mindless factless liberals that does not realize that the prosperity of the 90’s under Billy Bob Clinton was due to his all GOP congressional economic authority run by Newt Gingrich are you? Credit Billy for having the sense to compromise with conservative governance to get things done. Hail to Billy Bob for that. More than we can say for BO.
          Oh I forgot. Again, having an all republican congress House and Senate, like we just voted in now really is the greatest fucking thing ever!
          ps. Sanders is a self-professed socialist. But when I analyze that, I think you’re the type that knows it and doesn’t understand a damn bit of what that really means.

  • Charles Dickerson

    Reading this article was the first time milk shot out of my nose since Obama said Al Qaeda was on the run. It was so absurd that I don’t want to waste any more energy on this post than I absolutely must. The absurd understanding of what’s happening in our dying economy might
    be intelligently encapsulated for any inquiring mind by researching the
    difference between the E3 official unemployment rate of 5.3% used by the
    Obama regime and the real unemployment rate known as U6. U6 is leprosy
    in numbers for Obama clan, it is never ever never referred to…why???
    U6 counts everyone in the actual workforce. Everyone that has become
    discouraged and stopped looking for work for the last half-dozen years
    is counted as employed. In others words they are ignored completely for
    purposes of a bogus low unemployment figure to feed to the ignorant dem
    minds like that which produced this ludicrous piece. But don’t take my
    word for it. Google U6 unemployment rate and proceed to question all the
    other fantasy facts contained in this piece of tripe. Oh, sorry, actual
    U6 unemployment is 11.6%. 47 million on food stamps. Uneducated illegal
    aliens are encouraged to flood this country for the purpose of changing
    the entire mixture of America’s citizenry to create democrat voters,
    those which thank democrats for their myriad entitlements. Nevermind
    this does the exact opposite of what Obama tells you about helping the
    middle class. The whole point is that as the good jobs becomes scarcer,
    the food stamping becomes greater, the healthcare becomes more
    unaffordable, the middle class as it has been historically shall be so
    diminished and desecrated that their new dependence on govt programs
    will create a class of the majority that will vote big govt democrats to
    office in perpetuity because big govt socialism will be the new norm to
    survive and dems will have the monopoly. Bye bye America. You may
    recall that Obama straight up told us he would do this in 2008. “THE
    FUNDAMENTAL TRANSFORMATION OF AMERICA.”

    • The U6 unemployment rate skyrocketed at the end of George W. Bush’s presidency. It began to decline just a year after Barack Obama took office.

      So there’s that…

      But thanks for not “wasting too much energy” to write over 350 words all the while ignoring that fact.

      • Charles Dickerson

        Ignorance is bliss. The mandate by democrat governance to seek out no interest, no job, no income, no credit loans, to minorities and other poor uncreditworthy individuals was devised in the Clinton administration. There were many years of hiding these festering explosive malignant loans by financial institutions. They were forced by regulative and severe sanctions imposed by democrat congressional fiat to continue the rancid lending but to get it off the books by passing the feces, repackaging and passing again to lender institution after lender institution until everybody understood the total worthlessness of what came to be known as credit default swaps. When there were no unsuspecting buyers left the radiation from these worthless investments exploded almost overnight. The firestorm occurred at the end of Bush’s watch. That was more coincidental effect than a primary cause.

        In all fairness, one of the reasons I disliked Bush is because he was a conservative in war only. Socially he was a democrat and allowed these practices to continue under his watch. I cannot absolve him of some of the blame. Economic collateral damage was indeed legendary. But to imbue your messiah with any consciously shrewd unemployment machinations as the dust settled in his freshman year is for me to take credit for the return of woodland creatures and new fauna a year after the forest fire. So there’s that… Have a less blissful day!

        • BobbyJimmyThomas

          to minorities and other poor uncreditworthy individuals

          uncreditworthy minorities
          lol

    • Marc

      Here’s a link to the U6 rates, from 2009 – 2015: http://portalseven.com/employment/unemployment_rate_u6.jsp?fromYear=2009&toYear=2015 Damn you Obama for being president while this rate dropped from 14% to 11.6% /s

      And here’s the chart from 2003 – 2009:
      http://portalseven.com/employment/unemployment_rate_u6.jsp?fromYear=2002&toYear=2009 Way to go G.W. – you sat on your ass, sent us to 2 warfronts and introduced massive tax cuts for the most wealthy as the rate went from 10% to 14%.

      Sorry Charles if these facts confuse you. Oh, remind me which administration has EVER used the U6 numbers in their statements? Is Obama’s administration the first to use E3? NO!!!!

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