Newt Gingrich Job Creation

Newt Gingrich has taken up the "job creator" mantle and has taken credit for job creation under presidents Ronald Reagan and Bill Clinton. So how does this claim fit with the facts?

Ronal Reagan

The "jobs created" under the Reagan administration were nothing more than a recovery from the recession that began under Reagan. What's more is that the recession was both caused and fixed by the Federal Reserve's raising interest rates (to squeeze out inflation) and subsequent lowering interest rates. Nothing New Gingrich did had any bearing on jobs.

Bill Clinton

Under Bill Clinton the economy was also under a recovery. Only unlike the Reagan recovery, the economy continued to grow even after reaching full employment. This economic growth was mainly due to the internet boom. It should be noted here that prior to the increase in employment, taxes on the rich were raised (George W Bush would later lower them again, and Barack Obama would attempt to bring them back to Clinton levels, only to be stopped by a Republican Congress). This should be noted and remembered when Newt Gingrich claims that taxes on the rich stifle economic growth and amount to class warfare.