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tazzygirl -> RE: President Obama says "The private sector is doing fine" (6/10/2012 8:35:52 PM)
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Keep in mind that the private sector has been hiring at a solid pace over the last 27 months. But one of the biggest weaknesses has been state and local governments, which have laid off 450,000 Americans. These are teachers and cops and firefighters. Congress should pass a bill putting them back to work right now, giving help to the states so that those layoffs are not occurring.
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And the most important thing I think we can do is make sure that we continue to have a strong, robust recovery. So the steps that I've outlined are the ones that are needed. We've got a couple of sectors in our economy that are still weak. Overall, the private sector has been doing a good job creating jobs. We've seen record profits in the corporate sector.
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THE PRESIDENT: The truth of the matter is that, as I said, we’ve created 4.3 million jobs over the last 27 months, over 800,000 just this year alone. The private sector is doing fine. Where we’re seeing weaknesses in our economy have to do with state and local government -- oftentimes, cuts initiated by governors or mayors who are not getting the kind of help that they have in the past from the federal government and who don’t have the same kind of flexibility as the federal government in dealing with fewer revenues coming in.
Compared to the public sector, the private sector is doing a damn fine job.
(CBS News) The political debate over the economy and the role of the private and public sectors continued Sunday on "Face the Nation." Maryland Governor Martin O'Malley said public sector job loss "puts a drag on the economy."
O'Malley came to the president's defense after Mr. Obama said Friday that the private sector is "doing fine." He latter clarified his remarks saying that it is "absolutely clear that the economy is not doing fine," saying that compared to the public sector - which continues to lose jobs - the private sector is increasing jobs.
O'Malley expanded on the president's clarification, telling host Bob Schieffer, "No one can deny that we've had 27 months in a row of private sector job growth. Fact of the matter is, that the public sector continues to be a drag on the economy, because in 16 of the last 18 months we've had public sector job losses."
He added: "It's as if we take two or three steps forward and one or two steps back. For every three jobs created by the private sector we eliminate a public sector job - teachers, firefighters, police - and that puts a drag on the economy.
"I think that most economists would agree with the president that the private sector is doing better and the public sector is doing worse," O'Malley said.
http://www.cbsnews.com/8301-3460_162-57450069/dem-gov.-public-sector-job-losses-are-dragging-economy/
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