The writer asks "Are you better off today than you were four years ago?" Well, let's look at the record. The jobless rate at height of the Great Recession was 10 percent and is now 8.1 percent. We've had over two years of positive job growth, adding over 4 million private-sector jobs to our recovering economy. Specifically, today we have an average annual increase of over 157,000 manufacturing jobs versus a 434,000 average loss under the Bush administration. Construction jobs increased by 0.8 percent in 2011, the first annual increase since 2006. Car sales are running at the fastest pace in four years, adding thousands of new jobs for Americans.
New data even suggest that jobs sent overseas are returning to the U.S. According to the May 8 Bloomberg report, "Employers in the U.S. were looking to fill more jobs . . . than at any time in almost four years, showing growing confidence in the U.S. economy." In fact, consumer confidence rose in May to the highest level in four years, and the Dow index, an indicator of investor confidence, has risen from 7,400 in 2008 to nearly 13,000 today, thus restoring billions in investment dollars to millions of Americans.
All this at nearly half the inflation rate we had in 2008 (2.2 percent forecast in 2012 versus nearly 3.9 percent in 2008). Oh yeah, gas prices are plummeting, unemployment claims are declining, housing starts are rising and retail sales are the highest in years.
Are we better off today under President Obama? Emphatically and undeniably, yes!