Mike Radigan wrote:Kevin, my argument had nothing to do with fixing blame. And I agreed the trend was up.
DAR
Then Mike should have shut his yap at that very point, because that was all I was saying (as I have pointed out before in this very thread). But he doesn't stop, he keeps digging. Mike should just read this very thread (he created) and see that he is making the same mistakes, spinning his wheels, and forgetting.
KEVIN: I'm sorry...what are you arguing again?
DAR
Any exchanges with Mike tend to lead to this reoccurring question.
KEVIN
Job loss is bad...but decreasing rates of job loss does imply that there will be net job creation in time if the trend continues.
DAR
Bingo! And it did. Hence the reason I sent Mike an updated chart showing this progress. I knew it would get his panties in a wad. Then he calls me names, calls me a coward, and then he runs.
This is what I assume Darrel was arguing.
DAR
Precisely. Actually, not even that much. Just that a trend up is good (considering the alternative). Let me quote from my very first response in this thread:
Mike said: "I disagree that any element below the x-axis is good. "
Incidentally, Mike has said variations of this over and over. Being a conservative he likes bright and shiny lines dividing things and completely separate boxes for the good, the bad and the ugly. But the world is a little more messy than that. It's not true that all elements below the line are equally not good. As he just said to me yesterday (before running):
"Do you not understand that the direction of the TREND is not that meaningful? It's the absolute that is meaningful."
Spoken like a true conservative! They love their absolutes. But I digress.
As I responded earlier to his comment (in this thread):
"DAR: This pretends that the elements below the zero line are equal. They are not. Some are MUCH better than others. So it's quite appropriate to refer to the very low numbers as "good" (-36k) when compared to the very bad numbers (-736k). And note that the zero line is an arbitrary distinction anyway. We need a positive of about 150k a month just to stay even with growth of the workforce and economy. So "zero" is still not good and 100k is not "good" in the sense you are trying for."
Oh and Kevin, the actual job loses in the original chart in this thread are times ten, I don't know why that is marked incorrectly. Add a zero to all of those numbers. 700,000 jobs lost, not 70.
I would be fascinated to see this same plot extended back through multiple administrations. I would like to know if there is a clear trend of job loss/creation that corresponds to the party in power.
DAR
Excellent question and yes, we have an answer. I already sent this to Mike but he ignored it as he generally does any discomforting information.
You can read my short letter
here, but here is the relevant part:
How about job creation? James Carville put it this way: "In the last fifty years, there have been ten Presidents--five Democrats and five Republicans--and the Democrats place first, second, third, fourth and fifth [in new job creation]… the chance of that occurring randomly is 1 in 252…”
Terribly partisan source but is he right? Yes.
More (from that thread):
The Nobel Prize winning Krugman does a comparison similar to Carville's except it is from July. Perhaps this is a chart from his book. Demo's hold the top four spots. GW Bush, is of course last.
Paul Krugman, NYT
This is better:
The Simple Arithmetic of Employment: Job Growth Is Always Higher When a Democrat Is In The White House
An excerpt:
"Remember the last time the number of jobs grew more rapidly under an Republican president? John McCain can't. Because he wasn't born yet. Over the past 75 years, one trend has held constant. Rapid job growth only occurs when there's a Democrat in The White House.
No Republican President -- not Eisenhower, not Nixon, not Reagan, not Bush -- has ever created more jobs, or created jobs at a faster rate, than his Democratic predecessor. It's not even close. The contrast has been especially stark over the past 16 years, when 23.1 million jobs were created under Clinton and less than 5 million were created under Bush. On average, job growth under Democrats is more than twice that under Republicans.
Whatever benchmark you use, the difference is dramatic. Since Truman was elected in 1948, 53.2 million new jobs were created during the 24 years when Democrats held The White House, and 38.3 million were created during the 36 years of Republican administrations."
--Source: The Bureau of Labor Statistics, seasonally adjusted non-farm payrolls."
Here is another. This fellow examines the last 13 presidents. He also examines the record during Congress.
Democratic Presidents hold the top six slots.
Annual
Job
Growth………Party……………President
8.8%………….Democratic…….Roosevelt (1939-war)
3.5%…………..Democratic…….Johnson
3.3%…………..Democratic…….Carter
2.6%…………..Democratic…….Clinton
2.6%…………..Democratic…….Roosevelt (wartime)
2.4%…………..Democratic…….Truman
2.3%…………..Republican.…….Reagan
2.1%…………..Republican……..Nixon
2.1% …………..Democratic…….Kennedy
0.8%…………..Republican…….Ford
0.5%…………..Republican…….Eisenhower
0.4%…………..Republican…….Bush II
0.4%…………..Republican…….Bush I
I do hope you stick around Mike. Maybe you'll learn something new?
D.