The Tom Woods Show, episode 473.

Prepare to set fire to the index card of allowable opinion.

Your daily dose of liberty education starts here, the Tom Woods Show.

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slash publicity. Hey, everybody, Tom Woods here. I'm talking about a whole bunch of things today, but one of

them is this claim that Obama's actually been a great jobs president,

and he's had a better jobs record even than Ronald Reagan. Well, it turns out there was something

very, very significant going on in the labor market in the 1980s that is not going on today,

that helps to explain why the 1980s were actually a much, much better time,

and that the Obama apologists are just all wet.

And joining me to explain all this to you is our friend Gene Epstein, who is

economics editor at Barron's, the nation's premier financial publication.

He is the author of Econo Spinning,

How to Read Between the Lines When the Media Manipulate the Numbers. Gene, welcome to the show.

Good to be back, Tom, and congratulations on a great show. You're batting average is incredibly high, five times a week. I appreciate that. Thank you so much.

All right. Well, I want to talk today about a column that you wrote for Barron's tale of two labor markets, and that will spin off into a variety of other topics. But I want to begin with this discussion, with a discussion about this column, because you're hitting on a subject that does come up quite a bit when people are trying to defend the Obama economic record. And they'll say, look, Obama has had, he inherited a real mess, and he's actually turned things around pretty well. We've had good strong employment figures.

The unemployment rate is low, and he's even done it better than Reagan did. Now, I raised that

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