Smasharoo wrote:
We peaked at just over 10% unemployment in late 2010 and should have rapidly dropped to below 6% within a year after that point
Wait, that didn't happen? Was JoJo The Employment Unicorn too busy pooping his magical job apples elsewhere? In what fantasy land was there an expectation that unemployment was going to be at 6% in 2011? What a bizarre straw man to measure success against. Seems to strange to be arbitrary, did you read it on some whackjob blog? I'd be fascinated to know the source. Not that unemployment actually ever got 10% in 2010, but that's the least strange thing about it.
You're correct. The technical high was in Oct 2010 at 10%. However, it hovered within a few tenths of a percent until Nov of 2010 (which was the date I was thinking of), at which point it finally began declining. However, unlike past recessionary patterns, it didn't drop down to anywhere near the pre-recession levels.
It's not arbitrary Smash. Every recession for the previous 30 years followed a pretty standard 3 year cycle. 6 months of recession, about a year and a half after that point of high unemployment, then about a year of rapid recovery (for unemployment, other factors tend to recover earlier. Obama knew this going in. He counted on it. It's why he made the statement that if he didn't have our economic problems licked within three years, he'd be a one term president. It's also why the Dems made such a big deal about summer 2010 being the "summer of recovery". Because past recession patterns indicated that unemployment should have started a rapid decline starting in July of that year. But it didn't. It stayed high until November and then didn't come all the way down.
I can link to the employment numbers showing this pattern if you really want (although I've linked to them in past threads). It's not hard to see, and it's also not hard to see that the Dems were acting on the assumption that those patterns would be repeated regardless of what they did in terms of spending/stimulus/etc.
They were wrong. And it's absolutely ridiculous for you to stand here today and pretend that no one had an expectation that we should have been fully recovered sometime in mid to late 2011. That was exactly the expectation that your own party was operating on, and you damn well know it.