Little known or distributed fact: President Obama is a government job slayer. That’s right. When compared to both GW Bush and Bill Clinton, President Obama is absolutely crushing the size of the government workforce. While Presidents Bush and Clinton added well over 500,000 government jobs during their first terms, President Obama has cut more than 500,000. For anyone who remembers the early Clinton and Bush years there was a great deal of decent employment data and the government workforce played a big role in those economic expansions. But as this morning’s employment data showed, that positive effect is absent from this “recovery”. This chart comes courtesy of Warren Mosler:
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.