In his State of the Union address President Obama touted the “rebound” in the economy, taking credit for his administration’s policies in its recovery. He pointed to two years of job growth and the fastest job creation since 2005 but without putting such results in context.
Among the first to take umbrage at such omission was James Sherk, writing for the Heritage Foundation: “In normal economic times they [the results]would represent healthy growth, but in the aftermath of the worst recession in two generations they represent a historically slow recovery. New jobs have been created—but not nearly enough.”
This was echoed by the Congressional Budget Office (CBO) in its just-released study which noted,