A few weeks ago, we put together a feature comparing the public and private sectors, noting that Obama’s gaffe that the private sector was doing “fine” really wasn’t that much of a gaffe. When you really dissect the economy, it is the private sector that’s doing “fine” and the public sector that’s ailing.
Just to circle back on that, we figured we could express this idea simply in one gigantic chart.
Below we’ve taken 12 different economic measures: 6 that are mostly about the private sector ones and 6 that are mostly public sector.
The private sector lines represent stuff like private investment in equipment in software, private hiring, landlord income, corporate profits, and so forth.
The public sector lines represent total government hiring, Federal government spending, construction spending on schools and highways, and state and local employment.
In this first chart, every private sector measure is in dark blue, while the public sector is in dark red.
Each measure is indexed at 100 right at the start of 2009, when Obama took office.
The thrust is pretty obvious. All the blue ones (private sector) are powerfully higher or trending higher, while all of the red ones are significantly lower or trending lower.
The difference between the private and public sectors couldn’t be more stark.
One is doing well. The other is killing the economy.
Of course, a 12-line chart consisting of just dark blues and reds may be visually clear, but isn’t that helpful for seeing individual measures, so here’s a version where all of the private sector measures are mostly blues and greens, while the public sector is oranges, yellows, and reds.
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