Obama’s Outstanding Non-Recovery
Where are the jobs? That’s the first question to ask in what’s now become the slowest economic recovery since the Great Depression — or, more precisely, the longest non-recovery since the 1930s.
A research report from JPMorgan examined the prior private-sector experience of 432 Cabinet members in presidential administrations since 1900, including secretaries of Commerce, Treasury, State, Interior, Agriculture, Transportation, Housing and Urban Development, Labor and Energy.
And the presidents with the lowest percentages of Cabinet members with prior private-sector experience: Clinton, 39 percent; Teddy Roosevelt, 38 percent; Carter, 32 percent; Kennedy, 30 percent; and Obama, 8 percent.