THE PUBLIC EYE: Obama’s Economy: 6 Truths
President Obama’s September 16th speech on the economy was overshadowed by breaking news: the tragic shootings at the Washington Navy Yard. Nonetheless, it was an important address that contained six important truths.
The President reaffirmed the economy continues to be his “number one priority …making sure we recover from the worst economic crisis of our lifetimes, and rebuilding our economy so it works for everybody who's willing to work hard.”
The first truth is the economy has recovered since Obama took office. In 2009, the economy was shrinking and “businesses were shedding 800,000 jobs each month.” Now the economy is growing. Since 2010, “our businesses have added 7.5 million new jobs [and] the unemployment rate has come down.” During the same period, each quarter but one has seen a positive GDP and the unemployment rate has lowered from 10.0 to 7.3 percent.
But that’s not the whole story. The second truth is the recovery has been unbalanced. The President acknowledged,
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