The Obama Campaign is now making the claim that it has created more jobs than Reagan. Geeeesh.

Stephanie Cutter told MSNBC (this morning) this ridiculous "fact:" 

“Well, I think that worker probably has a good understanding of what's happened over the past four years in terms of the president coming in and seeing 800,000 jobs lost on the day that the president was being sworn in, and seeing the president moving pretty quickly to stem the losses, to turn the economy around, and over the past, you know, 27 months we've created 4.5 million private sector jobs. That's more jobs than in the Bush recovery, in the Reagan recovery, there's obviously more we need to do . . . .”

The part that has to do with Reagan?  Understand that  GDP under the Reagan recover,  at the same point as in the Obama recovery,  was  7%  compared to a GDP,  under Obama,  of 1.5%.  Understand that improving  GDP is the function of job creation, period.  The difference between the GDP reports of the two Administration is a reflection of the success of Reagan and abject failure of the Obama recovery.  The 4.5 million jobs Obama and Cutter are bragging about,  are not “net jobs.”  The fact of the matter is this:  nearly 300,000 jobs (work positions) no longer exist.  8 million Americans have actually left the workforce and the unemployment percentage of 8.3% last month,  is a measure of the nonfarm ,  private/public sector  The statement is beyond a lie,  to the point that we are now wondering whether or not Biden is the only mentally ill pundit in the Obama camp.  

I just wonder whether the media will allow this bit of idiocy to go without challenge.  
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Update:  
Here is Gateway Pundit's review of the facts:  

Here’s the truth… Back in 1980 during a similar economic downturn President Ronald Reagan took the exact opposite approach as Barack Obama. Reagan cut taxes and regulations. When Reagan signed the Economic Recovery Act at his ranch in 1981, it was the largest tax cut in American history. And it was a massive success. Jobs were created. In 15 months in 1983-84job growth was 4,655,000, while in the comparable 15 months in 2011-12 it was 2,475,000, just a little more than half as many. The average GDP during Ronald Reagan’s 4th year in office was a whopping 7.75%.