Those who know stats of the US job market are aware of the bitter fact that during the eight years of President George W. Bush, the economy gained only 2.58 million jobs. The main reasons for these bleak numbers are the recessionary, job-losing economy Bush inherited from President Clinton, and the weak economy that Bush had in his last twelve months in office.
This was the thinking until now.
But a new complimentary way of counting jobs shows, that during President Bush's tenure, the economy actually gained 12.9 million jobs, which GWB says is the credit of his tax cuts. The new model was designed by Chicago economist Barack H. Obama who calls his new system "Jobs Saved or Created." This model calculates minimum x5 to the positive side the numbers produced by the Bureau of Labor Statistics, the official job-counting body of the US Government.
For example: According to the BLS, the US economy lost a total of 2.61 million jobs from March of '09 through September '09. Using the Obama model, these numbers mean that the economy actually gained or prevented from losing minimum 640,000 jobs, or perhaps even up to 1 million jobs. Based on this calculation, one should conclude that the BLS stats showing Bush's economy gaining only 2.5 million jobs, likely has "created or saved" minimum 12.9 million jobs.
Economist Obama says that creating Congressional districts; claiming a pay raise as a job saved; and producing numbers out of thin air, are all welcome ways to use the Jobs Created or Saved system.
Fans of President Clinton are now petitioning the BLS that the current figures that show the economy gaining 22 million jobs during President Clinton's era should be revised to a gain of minimum 100 million jobs.