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Jason Furman: 5 Indicators That Show We Turned A Depression-Like Shock into A Six-Year Expansion
Seven years ago, Lehman Brothers filed for bankruptcy, setting in motion the worst financial crisis since the Great Depression. Over the course of just a few months after taking office, President Obama worked to shore up the U.S. financial system, rescue the auto industry, and pass a Recovery Act and more than a dozen subsequent fiscal measures that provided vital support to families and businesses. Since the crisis, the President has taken continued steps–including Wall Street reform–to strengthen our economy and protect against future downturns.
Our businesses have now created 13.1 million jobs over 66 straight months–the longest streak on record. The pace of job growth over the last three years has not been exceeded since 2000. The unemployment rate has fallen further and faster than economic forecasters predicted. Private domestic final purchases (a combination of the largest and most stable components of GDP) contracted as sharply at the start of the Great Recession as during the start of the Great Depression. But while economic output continued to contract for years into the 1930s, our economy returned to growth in 2009, as both personal consumption and business investment started to grow again.
More here
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.@CEAChair: 5 Indicators That Show We Turned a Depression-Like Shock into a 6-Year Expansion huff.to/1Ko4MiX http://t.co/ogal6ePFC8
—
Jesse Lee (@jesseclee44) September 15, 2015
The Obama Diary 
Wonderful visuals NW. Thank you.
JER!!!! Congrats on First 🙂
You’re welcome, JER. Congratulations on first. 🙂
Hello?
me!
Me and Jer are twins!
A Triple Gold ⭐ ⭐ ⭐ winners!
JER 😉 DF 😉 57andFemale 😉
Congrats!
3 way tie:) Congrats to JER and 57!
I am humbled by the company I keep.
OMG – look at all of you landing on First! How come no one called me???? 😀 😀 😀
Just an amazing, amazing, amazing economic turnaround. TY, Nerdy.
🙂
Gee…wonder why?
http://www.abc15.com/news/region-phoenix-metro/ahwatukee/pd-cars-spray-painted-with-racial-slurs-in-ahwatukee
And DF, more from the fair and level thinking people of Arizona (yes, Dr. Whitaker is African-American)
An Arizona State University history professor accused of plagiarism is on administrative leave, school officials said Thursday.
Dr. Matthew Whitaker has been relieved of all duties, ASU spokesman Mark Johnson said. The school is reviewing allegations that Whitaker’s “conduct has fallen short of the university’s expectations for a faculty member and a scholar,” Johnson said. He declined further comment.
Whitaker terminated his consulting company’s $268,000 contract in July to train Phoenix police in cultural and community awareness amid concerns from the city of Phoenix over past plagiarism allegations. Last month, the city called for Whitaker to refund $21,900 he was already paid after it was revealed many of the training slides he used were taken from the Chicago Police Department. Chicago police provide training materials for free to law enforcement agencies.
Through an attorney, Whitaker has denied accusations that he copied or misused material from Chicago police. His attorney, Lonnie Williams Jr., said there was no reason to put him on leave because his contract dispute with the city of Phoenix has no bearing on his teaching.
I saw that
Yes, please!
Wow, another update today from Gitmo:
Meanwhile in Ohio waiting for VP Biden…
Oh Nerdy, your great economic news and your love of PBO cheer my spirits. I spent hours today in an endless Democratic meeting, only rivaled by another endless Dem meeting last night and was feeling emotionally drained. Thanks to you, I’m smiling.
Thank *you*, JackieG, for so consistently doing your part, even when you know ahead of time that the meetings will be draining.
🙂
VP Biden is in my neck of the woods.
The location of the event is one of the many sites on campus that honors the late Mr. Jesse Owens – the former OSU student who ran the races & embarrassed Hitler with multiple wins.
Nerdy—the perfect antidote to GOP lies
Nerdy Wonka presents the facts.
Thank you.
Tonight at Midnight the Iran Nuclear Deal agreed to by China Russia England France The USA Iran and the EU goes into effect.
Signed. Sealed. Delivered.
Fireworks?? Champagne celebrations coast-to-coast?? Total media coverage???
No. That stuff would only be allowed if it was a GOP win.
Media will stay focused on The Donald and Carly
.
Sadly, perfectly stated, Vicki.
Hey, Happy New Year!
Shana Tova to you, 57
How about a simple victory announcement by the White House. This has been a long hard journey and I’d really like to hear from our amazing team tonight or tomorrow. If it doesn’t come, I can understand why not.
🙂
Actor Misha Collins did this before LINKED IN took it down but we have a screen capture. It should be retweeted and shared everywhere. http://www.democraticunderground.com/10027180292#post2
Pretty funny!
I just LOVE President Obama. I bet those guys are on cloud nine 🙂
Wish he would remember to do it every day and not when his senility doesn’t get the best of him.
Good one, NCLB.
He’s spot on this one and you’re correct. He needs to stop attacking PBO and backing him only when it’s convenient to do so. He isn’t the only one that has been guilty of doing this but he sure seems to be doing it the most.
Thanks a gazillion, Nerdy!
🙂
By Zeus! And I was trying to keep off.. MTP or whatever Chuckie had to say.
lmao. Chipstick’s winning tweet #23,738,399,677.
It’s good to hear these updates to remind us that the FBI is on these scumbags.
Next arrest Roof’s Mom and Dad. Why buy your ninth grade drop out son who wasn’t working, who wasn’t doing anything with his life, but following that right wing racists hate crap, why buy him a gun?
!!!
// ……………………………
Saving lives, that’s what the Global Health Security Agenda (GHSA) is all about.
Last week from September 7-9 in Seoul, I was proud to join Secretary Burwell and delegations from all over the world for a game-changing High Level Event hosted by President Park and the Republic of Korea to save lives by advancing the Global Health Security Agenda. Ministers and other senior officials from 47 governments, as well as 9 international organizations and over a dozen non-governmental partners, took the podium to pledge specific actions to prevent future outbreaks from becoming epidemics. Most importantly, we reiterated our commitment to assist West African and other at-risk countries from around the world to get to zero, stay at zero, and stay involved long after zero to achieve strong and resilient global healh security systems, with measurable targets, as part of building back better from the Ebola crisis. Our thanks go especially to participants from Guinea, Liberia, and Sierra Leone, who traveled across the globe to bring their wisdom and to call on others to step up and stay engaged so that what happened in West Africa can never happen again.
…………………………… //
https://www.whitehouse.gov/blog/2015/09/16/uniting-seoul-extinguish-epidemic-threats-through-global-health-security-agenda
None of the ignoramuses on the GOP stage last night could name an American woman to grace the $20 bill.
Here is a good nomination: Susan B. Anthony who authored the women’s right to vote act which became law in 1919.
I’m sure TOD could come up with 20-50 worthy women.
In a variety of fields.
And from many cultures.
I like the Susan B. Anthony idea because focusing on voting rights and 100% enfranchisement are worthy goals for a 2016 campaign.
Im suprirsed they had such troubles coming up with names… wjat with their GOP binders full of women. Lmao
Someone named Rosa Parks…..but the “smart” Bush named Margaret Thatcher.
The one who supported Reagan – and gave the UK away to the 1%. Worst PM ever.
LOL
PBO would have answered this one with a dozen options – He is an impossible act for anyone to follow – but the GOP clowns are so far below the eight ball – it is embarrassing that the world has to see such a debacle.
LIVE NOW: VP Joe Biden remarks at Ohio State University – http://www.cbsnews.com/liveFeed/widget.shtml
Thanks so much for that link, JER!
You are welcome.
Is that Sloopy or Snoopy hanging on? I’ve always sung ‘Hang on Snoopy’.
Just posted it!
The reason I chuckled about their using the song was it sounded like maybe he’s used it before in a campaign of his. Just sayin’.
(Between us girls, not sure it was the best choice to follow today’s speech, but it’s an older song, so maybe some wouldn’t catch that part.)
Love the song playin’ when Joe Biden finished his remarks …
You did yeoman’s work here, NerdyWonka! Thanks for continuing to get the message out, and set the record straight!
Evenin’, TODville. Just a quick note to let you know my son got through his Eloesser Flap surgery fine on Tuesday, and was home by Wednesday evening! He has a home health nurse coming every day to change dressing, etc. He’s tired but his spirits are high, and now he just has to let his body heal. We thought his next surgery to close this up would be in a month or so, but turns out it won’t be for six months. After that (with his cancer-free diagnosis from the oncologist Monday, after his brain MRI and full body PET Scan results were known – yeehaw!), maybe we should all take a trip to Hawaii, or something! Thanks again for the positive thoughts and prayers – means so much to my entire family. ❤
^5
Great news all around! I’m so happy for him, and the family!
Thanks!
Wow, more great news. That’s really wonderful. Take a deep breath, JO’B!!
Finally! Whew. ❤
Excellent news!
Thanks!
extremely glad to hear your update;
fingers tight for an even better tomorrow for all of you
Thanks so much!
I am so happy to hear this news jacqueline.
Thank you very much, Vicki. Long time coming.
So pleased for you & family jacqueline Enjoy Hawaii 🙂
Ha! Hawaii or Bust! Thanks.
I would recommend Sydney – but it’s another 12 hours or so on a plane – now if you could sort out getting a ride here on AF1 …. 🙂
I’ll work on that!
YES!
YES!
Excellent news, Jacqueline!
It is, thanks!!!!
John Fugelsang on MSNBC, earlier, commenting on the GOP debate:
“Irony hung itself in a cheap motel.”
Best one-liner I’ve heard in a while!
🙂 🙂
Haha.. that’s a good one.
Summed it up, nicely!
Riveting speech from VP in Ohio on sexual assault. Sometimes almost unbearable to listen to. Only little caveat: it was pretty much “violence against women” centric, even if he did mention sexual assault against LBGT people.
This man wears his heart on his sleeve.
it was a great speech.
I’m listening now and he’s blowing me away. His honesty and courage to take on so many tough issues and get results is off the charts. Wow!
Is it just my observation…..seems like the VP is getting more and more the “presidential” treatment by photogs and crowds….crowds lining up like for PBO…….anyone else notice this, or am I totally off?
I really enjoyed listening to VP Biden. He really got a nice reception.
I’m with you on that, carolyn.
not just your observation. Four speeches in two days by the way. Florida, California, Michigan, Ohio… On climate change and renewable energy, on infrastructure ( and jobs) in Michigan, and then on a social issue in Ohio.
It could be a general strategy though. Making people feel good about the accomplishments of this administration, to push back against the “doom and gloom” narrative pushed by republicans.
Why the Obama Doctrine must be sustained …..
Rolling FORWARD ….
Wondering if John Kerry, his iranian counterpart, Lavrov, and the other players will receive a conjoined Nobel Prize.
I have to say though that I would cringe at seeing Lavrov receiving a Nobel Prize. Because of what Russia is doing in Ukraine.
Thanks for all the updates Bob – as usual TOD is so far ahead of the media.
Joe Biden, a devout Catholic, it’s appropriate that he should be the one to preside over the pope’s departure.
It is, and Joe will do a fine job representing! And I believe both he and the President and Mrs. Obama will greet the Pope at Andrews when he arrives.
My secret wish is that President Obama would ever so quietly be on the ground in Cuba, too, when Pope Francis arrives there … and that the two of them would meet privately with Raul and Fidel Castro. How symbolic of the improved relationship between the U.S. and Cuba, and both the President and the Pope said that Francis played a quiet role in getting the two factions to open up dialogue. Anyway, that would be my wish to show that religion per se doesn’t have to be involved in politics, and shouldn’t be (in my liberal mind), but spiritual leaders can encourage opening up dialogue for the common good.
Huge news, meta. Thank you for keeping up with this.
I think this is important both because of VP Biden’s faith and because of the political benefit. So Presidential. This is getting closer.
Can you feel it?
It’s easy to lose hope with a new election on the horizon and the uncertainty it brings. It’s easy to look at the monstrous GOP field of candidates and feel discouraged. It’s easy to look at the lackluster field of Democrats and feel discouraged. It is vital to not cede hope. President Obama will be leaving the office of the Presidency but that is not intended to be the end of hope. The hope that Barack Obama inspired is not about him or his legacy. It is about us and our legacy. It is up to us to not allow the predators of the world to strip us of hope and it is up to us to discover what part we can play in keeping hope alive.
Well said, PrettyFoot.
No Child Left Behind.
ty …that comment was from the article…good read
Beautiful blog post, prettyfoot. You have nailed it.
yes….
this is one of my problems with Sanders…everything is doom and gloom…
you have DEM Candidates who, because of their own ODS cannot stand on the shoulders of Barack Obama…as the Legend , NW pointed out in this blog…there is a lot to celebrate…add to that Obamacare…the Iran deal…etc…
Exactly. Mr. Sanders is all about indignation. Yes there are many things to be mad about. But you have to offer some balance. Just imagine if Mr. Sanders injected a dose of optimism in his campaign, and took the time to acknowledge all the progress that have been made. He could be “Obama II”.
But no. Mr. Sanders is an ideologue. He inspires ONLY with ANGER. He accuses. Constantly. He’s done that all his life.
And his supporters think he’ll be able to make republicans work with him if he’s elected president ???
I can accept the argument which says the last few years have demonstrated the limits of a strategy of conciliation and inclusiveness. The extremist faction of the republican party has created a new environment. So I can accept that more confrontational language may be necessary, unfortunately.
Just present it in a more positive way. Acknowledge that change has already begun. REASSURE people. And , strategically, repeat over and over that democrats have been GOOD at the job of governing. Because if you want to win as a democrat, people better believe that democrats deserve a third term in the White House !
Anyway… I would much prefer Joe Biden at the helm for the next campaign. He connects with voters of ALL groups in such a natural way. He would get the Obama coalition immediately, plus he could seduce many independents. He is POSITIVE, REASSURING, yet strong and determined. The perfect combination.
If Barack Obama, and yes, Bernie Sanders, act as grassroots leaders to maintain the troops very engaged and motivated.
Because we’ve seen now how big the resistance is, and the grassroots movement for change has to GROW, and GROW. The next president is going to need all the political power he can muster.
Probably a good guy to follow:
Hang On Sloppy is a song that OSU uses as one of its “fight songs”;
it is played by “The Best Damn Band in The Land” (yes that is how OSU calls our marching band) to fire up the enthusiasm of the Buckeye Nation – especially on football game day when the team appears on edge or slipping
Those students just loved VP Joe. What a speech.
CHEERS to our entire Iran team!!
Good to see there is a celebration happening.
Wendy Sherman and our entire team deserve all the thanks in the world.
It hurts me that the party must be so muted.
This may be off base but my interpretation is that the Black President is not allowed to be joyous and celebratory.
Pettiness. They’ve lost on the Iran deal. They’ll just make other delays, just to piss off democrats.
no comment
lol…i have to look at them all..
Terrorist attacks can’t all be prevented. The key is if a president and his team have done all they reasonably can to prevent those attacks. It they’ve taken the threats seriously.
We all know that George Bush DIDN’T take the threats seriously. It’s been documented. It’s fair game to make him responsible at least in part for 9/11.
Cuba has appointed an ambassador to the US – the first since 1961 – as part of the ongoing thaw in relations between the two countries.
Jose Cabanas is a veteran diplomat who has run Cuba’s “interests section” in Washington since 2012.
He was received at the White House with 15 other new diplomats from other countries.
Washington has yet to make an announcement about who will serve as its new ambassador in Havana.
The announcement comes ahead of a visit to Cuba by Pope Francis and days before Cuban President Raul Castro goes to New York to address the United Nations.
http://www.bbc.com/news/world-latin-america-34286936
New post.
http://theobamadiary.com/2015/09/17/the-president-and-first-ladys-day-23/
Dan is not playing around today.
Fantastic post, NW.
Great job!
🙂