Non-Partisan Cheat Sheet For The Presidential Debates

Presidential Debate 2012 cheat sheet

When President Barack Obama and former Massachusetts Gov. Mitt Romney go head-to-head for the first time tonight, Americans will be looking to answer two questions: Did Obama, given the free-falling economy he faced when he entered office, do a good enough job of fixing it? And who will be better for the economy and job creation over the next four years?

Accusations will be thrown, words will be twisted, and figures will fly. So when it comes to the status of the American job market, how it fared under Obama, and the problems it will confront ahead, we thought it would be helpful to lay out the facts, pure and unpolitical:

  • The country lost nearly 8.8 million jobs in the recession, the AP reported, and has since regained 4.1 million -- a little under half.

  • As of August (the last month for which the Bureau of Labor Statistics has data), the unemployment rate was 8.1 percent -- 3.4 percent higher than it was before the recession.

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  • There are 12.5 million unemployed Americans, 8 million Americans working part-time but who want to work more, and 2.6 million Americans who want a job, but haven't looked for one in the last four weeks (so don't count as unemployed).

  • The average unemployed American has been without a job for almost 10 months.

  • The jobless rate is starkly divided by education; 12 percent of Americans without a high school diploma are unemployed, while the unemployment rate is just 4.1 percent for Americans with a bachelor's degree or higher.

  • As a result of the shrinking economy, 65 percent of businesses surveyed by the nonpartisan McKinsey Global Institute made changes to achieve the same productivity with fewer employees. More than half of these companies did this by piling more on their current workers.

  • The country was having serious problems with job creation even before Obama took office. According to the McKinsey Global Institute report, in the years between 2000 and 2007, the U.S. had weaker employment growth than any comparable period since the Great Depression, due in part to competition from low-wage workers overseas and new technologies that allowed for greater production with fewer workers.

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  • The White House predicted the February 2009 stimulus bill would kick unemployment below eight percent. That didn't happen. But that doesn't mean the $800 billion cash injection didn't create any jobs. The nonpartisan Congressional Budget Office estimated at the end of last year that the stimulus added up to 0.9 million jobs in 2009, 3.3 million jobs in 2010, 2.6 million jobs in 2011, and would add between 0.2 and 1.1 million jobs this year.

  • In a University of Chicago Booth School of Business survey, 80 percent of economic experts said the U.S. unemployment rate was lower at the end of 2010 than it would have been without the stimulus.

  • The nonpartisan Center for Automotive Research estimated in 2010 that the roughly $80 billion auto bailout likely saved 1.14 million jobs and saved the government $28.6 billion in lost tax revenue. But at the end of the day, the bailout will also likely cost the taxpayer $25.1 billion, according to the latest U.S. Treasury report.

  • There are 500,000 more unemployed Americans now compared to when Obama took office, but 2.9 million fewer unemployed Americans than in October 2009, the trough of the recession.

  • There are 2.3 million more longterm unemployed Americans (27 weeks or more) compared to when Obama took office, but 1.7 million fewer longterm unemployed Americans than at its peak in April 2010.

  • There are 25,000 fewer Americans working part-time who want to work more now than when Obama took office, and 1.4 million fewer than in September 2010, when this number peaked.

  • At last count, there were 430,000 more Americans who want a job, but have stopped looking for one, compared to when Obama took office. But there are 250,000 fewer labor force drop-outs now compared to January 2012, when this number was at its highest.

  • According to the McKinsey Global Institute report, the country will need to create a total of 21 million new jobs in this decade to employ the country.

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While there is no one solution for jobs to be gotten, there is one major key factor as to why many are unemployed and that factor is negative credit reports from Credit reporting agencys' that a employer use to check before hireing potential workers. This practice need too stop because, there are many people out of work and can not pay their bills even if they want too. No one should be denied a job to support their family and or pay their bills.
The Republican Senate can vote to fix this unfair practice done by CREDIT REPORTING AGENCYS' who are not ran by any GOVERNMENT AGENCY AND IS OWN BY PRIVATE COMPANYS.
However, as I was watching the news late last night a sigment came on about how the president of NAACP chapter in Washington ,DC is taking up the fight for manorities who are not hired in record numbers because of having poor credit when employers check their credit reports. It was said that a bill would be brought before the all Republic Senate to ban this practice, but doubt they would pass the bill.

October 05 2012 at 1:14 PM Report abuse rate up rate down Reply

Add one more person to that unemployment figure... OBAMA

October 03 2012 at 11:54 PM Report abuse rate up rate down Reply

It looks like the old reporters and story writers from Pravda in the old USSR have found jobs at HP.
The ADP stat is just about worthless because it has no details. If a chain store hires only part timers then we are going no where fast. We all know that they fire just as many as they hire so there in no net effect.
The point here is to print false news in the hope it will affect the election in November.

October 03 2012 at 10:23 PM Report abuse rate up rate down Reply

Forget the discussion about jobs which most everyone claims is this country's biggest problem. Actually, the U.S. Is a divided country and cannot survive without unity of purpose. That's the biggest issue. President Obama has divided this country more than any president in it's history. He has chastised oil companies, the coal industry, drug companies, wall street, banks, executives, wealthy people, and ordinary Americans who disagree on his health care plan. I qualify only as the ordinary American who disagrees with the health care plan for we will pay the premiums now, in addition to paying for hospital care for those who can't afford it.

October 03 2012 at 9:16 PM Report abuse rate up rate down Reply
1 reply to kdpendery's comment

Sure it is divided because the presence of a black President caused the KKK, ther white hate groups, bigots to surface.

October 04 2012 at 2:36 AM Report abuse rate up rate down Reply

I've been unemployed since December of 2009, so I don't fit into any of the categories. And, yes, I am still looking and applying. I realize that it is probably stupid, but I am still hopeful.

October 03 2012 at 9:13 PM Report abuse +3 rate up rate down Reply

your cheat sheet data on job creation doesn't add up. might want to check your "Obama" math again. And the recession ended by june of 2009 so the low point of October 2009 doesn't ring true either. And Obama claimed that unemployment would be around 5.4% by this time in 2012 not below 8%. More media bias in your facts!

October 03 2012 at 8:42 PM Report abuse +4 rate up rate down Reply
4 replies to joe's comment

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