ECONOMIC REPORT CARD – FAIL

TheBurningPlatform.com ^ | July 8, 2012

[Errant]

We are now three and one half years into Barack Obama’s presidency. I thought a few pertinent charts would help us assess the success of his economic policies. Upon his election he demanded an $800 billion stimulus package in order to keep the unemployment rate from surpassing 8%. The $800 billion was to be spent over two years we were told and then government spending would be scaled back to pre-stimulus levels. There were 145 million Americans employed when Obama was elected. There are 9 million more working age Americans today than there were in 2008. There are now 142.4 million employed Americans. So, we’ve added 9 million potential workers and still have 2.6 less Americans employed. We have the same number of Americans employed as we did in early 2006, when there were 17 million less working age Americans.

[Errant]

"The politicians, bankers and corporate titans running this country are too corrupt and cowardly to reverse the course on our path to destruction. The debt will continue to accumulate until our Minsky Moment. At that point the U.S. dollar will be rejected and chaos will reign. The Great American Empire will be no more. At that time sides will need to be chosen and blood will begin to spill. Decades of bad decisions, corruption, cowardice, ignorance, greed and sloth will come to a head. The verdict of history will not be kind to the once great American Empire."

That's the FACT Jack!

[Xcoastie]

Excellent post! Another way to say it is that the “participation rate” keeps dropping and we are STILL at 8.2% unemployment. 10.9% unemployment if the same unemployed Americans were counted in the Gov employment scheme. Clearly Obama’s policies have failed and no amount of wait and see is going to change that reality.

Also keep in mind Great Britain had decades as the reserve currency for the world. Our reign of printing of money as a reserve currency is coming to an end. While that may relegate us to disregard and ridicule it is unlikely to wreak a catastrophe beyond bringing us to the standards of living like the rest of the world.

[DesertRhino]

It’s a little funny. We constantly hear about report gards, what grade we give Obama,,what grade he gives himself,,etc etc.

,,but we never get to see his real grades.

[Errant]

we never get to see his real grades.

Great point! :) Maybe someday...

[Errant]

Our reign of printing of money as a reserve currency is coming to an end.

I completely agree! But our printing of money has only begun. Obama has our economy on a roller coaster to hell. Our last chance to get off was when our GOP controlled Congress failed to cap the spending.

We're going down; prepare to eject!

[rawcatslyentist]

Oh puhleaze can’t we just have 4 more years of Blah Blah blaming George?????

[onona]

What’s with the support the Occupy movement banner in the upper left hand corner of the web page ?

[Errant]

The whole Occupy movement is a very mixed bag of enthusiasts and supporters. Some have good intentions and some don't. Even Ron Paul lent support IIRC. The one thing that I think fooled many was the movement's attack on the big banks. But in the shadows lurked the unions, communists and the Soros groups taking advantage.