Speaking of creating jobs, Gus Faucher, director of macroeconomics at Moody's Analytics acknowledged that it takes longer these days for economic growth to translate into job gains. He said, "Once you get GDP growth, you will get job growth." Yes, I must agree with Faucher. There has been, as measured by GDP growth, very little, if any, economic growth. And there has been very little, if any, job creation. The present "official" U-3 unemployment rate is 8.2 percent, well above what Obama promised if his stimulus (you know, the American Recovery and Reinvestment Act of 2009) was passed.
In 2009, Obama told Matt Lauer, host of NBC's Today show, that, regarding his $787 billion stimulus ($814 billion by CBO estimate) "If I don't have this done in three years, then there's going to be a one-term proposition." Let's see. With Q2 2012 not looking too good, Q3 2012 had better be a real whopper, or he just may be correct.
But, according to an economy and polling data-based forecasting model developed by Alan Abramowitz, a political science professor at Emory University in Atlanta, GA: "It puts Obama just barely above the break-even point." We all know how much faith y'all Obama supporters place in forecasts. Y'all dismiss any forecast not favorable to him. But wait, this one is different, it's accurate! Yeah, sure. All you Obama supporters wish!
But that's just my opinion.