Is Steele right? There was a net gain of 3 million jobs over GWB's eight-year tenure. But no, that's not a lot. What Steele fails to note is, that's the worst year-over-year output of any presidential administration since the government started recording job creation. Even Gerald Ford stumbled through a single term of economic stagnation and managed to create almost 2 million jobs. His dad, George H.W. Bush, created 2.5 million in a four-year period, during a recession. (Bill Clinton created 23.1 million.) And Dubya's record also doesn't take into account continued job losses after he left office, which are largely attributable to an economic crisis his administration precipitated.
Refutations of Steele's misrememberings are here (at that bastion of lefty socialism, the Wall Street Journal):