Once again I am merely being neutral and stating the unbiased facts from many of Obama's statements- that I have researched from the SOTU on 1-20-15.
Obama: Over the past five years, our businesses have created more than 11 million new jobs.”
Fact: the low point in jobs was reached in February 2010, and there has indeed been a gain of more than 11 million private-sector jobs since then, according to Bureau of Labor Statistics data.
Note that the president carefully referred to “businesses,” as in the same period the number of federal, state and local government jobs has actually declined by more than 500,000. So adding in government jobs slightly reduces the total number of new nonfarm jobs to 10.7 million jobs.
While Obama has touted what he often calls the “longest stretch of uninterrupted private sector job growth” in U.S. history, the average number of jobs created in this period is significantly lower than under either Bill Clinton or Ronald Reagan. (When you exclude a single month of decline, in fact, Clinton and Reagan had streaks of 85 and 71 months, respectively.)
Still, the president finally has some bragging rights about the state of the economy. With the rate of job creation averaging almost 250,000 jobs a month in 2014, this is the first State of the Union address given by Obama in which the number of jobs in the United States is actually higher than when the recession began in December 2007. Even with the massive jobs losses at the start of his presidency, Obama can claim that nearly 6.4 million jobs were added since he took office. At this point in George W. Bush’s presidency, the comparable number was 4.5 million – and for Bill Clinton and Ronald Reagan, the figure was 18 million and 9.4 million, respectively.[/COLOR]
Obama:Our deficits cut by two-thirds
Fact: The improvement in the economy, coupled with the spending cuts in the sequester, has yielded a significantly lower deficit than just a few years ago. The deficit for the fiscal year that ended Sept. 30 was $483 billion, a decline of nearly $200 billion from the year before.
For economists, raw numbers mean less than the percentage of the gross domestic product, and here, too, there has been an improvement. As a percentage of the GDP, the deficit in fiscal year 2014 was 2.8 percent, the lowest level since 2007. For fiscal year 2009, when Obama took office, the deficit was 9.8 percent, so that’s a 71 percent reduction.
Interestingly, Obama’s 2010 budget, introduced in 2009 when deficits were soaring, predicted that the deficit in 2014 would be $535 billion and 2.9 percent of GDP — meaning the administration beat its five-year deficit target.
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Obama: “Since 2010, America has put more people back to work than Europe, Japan and all advanced economies combined.”
Fact: But under that specific data set, Obama is right. From the first quarter of 2010 through the second quarter of 2014, the United States created 7.5 million new jobs — compared with 7.4 million in the other advanced economies.
Obama: Thanks to a growing economy, the recovery is touching more and more lives. Wages are finally starting to rise again. We know that more small-business owners plan to raise their employees’ pay than at any time since 2007.”
Fact: A December 2014 survey by the National Federation of Independent Businesses reported the highest Small Business Optimism Index since October 2006. The survey found a seasonally adjusted net 17 percent of businesses planned to raise wages in coming months – a two-percentage-point increase from the previous month. Three percent of businesses reported reductions in worker compensation, compared with 24 percent that reported a boost in compensation. The net 25 percent of businesses reporting higher wages was up four percentage points from the previous month.
But it is too early to say that this positive response from small businesses means “wages are finally starting to rise again.” According to the Bureau of Labor Statistics, the seasonally adjusted average hourly earnings in December 2014 for all businesses was $24.57 – just 40 cents higher than December 2013. Average weekly earnings between December 2013 and December 2014 increased by 2.5 percent. However, the median weekly earnings between third-quarter 2013 and third-quarter 2014 remained flat. ][/COLOR]
Looks like everything sticks- Obama has a lot to be proud of but there's still more work to be done. If Obama keeps ups with this improvement- I think I will become a registered Democrat.