Obama has been good for economy

June 14, 2012

Lyle Rescott, in his letter to the editor ("Government spending not what economy needs," June 13), poses a couple of legitimate questions. He does indicate his philosophical bias in the last sentence of his letter when he writes Barack Obama "should start being the president of all of us and not just the socialist segment."

Putting that aside, I will address his legitimate questions. He asks, "how many jobs have been lost in the last three years?" The answer to that question is three years ago, there were 108,601,001 jobs in the private sector. Now there are 111,337,000. That is a net gain of 2,735,999 jobs. He then asks, "How many more people are unemployed than there were three years ago?" The answer to that question is that three years ago, there were 14,505,000 people unemployed. Now there are 12,720,000 unemployed. That is 1,785,000 fewer people unemployed than there were three years ago.

These numbers are from the Bureau of Labor Statistics.

Regarding being president of "the socialist segment," I would note that the stock market, that bastion of socialism, is up over 50 percent in value since he came into office. And oh, yes, that socialist U.S. auto industry is now thriving when it was on the verge of disappearing.

I hope this answers his questions.

Mel Mintz, Pikesville

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