Speaker of the House, Nancy Pelosi, would have us take a look at the job losses as report by the BLS, and correlate them with the President of the United States. From the bar chart to the right, one could mistakenly make the case that President Bush caused all the job losses, and President Obama has stopped the job losses. While some of the policies of the Bush administration may have caused the Great Recession, that same administration also enacted policies to stabilize the economy and to stop job losses before President Obama was ever elected. Likewise, once President Obama was in office, he enacted or continued similar policies. Both policies took time to take effect, and it just so happens that the peak of job losses coincided with President Obama’s inauguration. We have often said here that “Correlation does not imply Causation”. What we mean by that statement is that just because two events occur simultaneously, it does not follow that one event causes the other event.
via : CHART OF THE DAY
