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Revealing Statistics>National Finances
PeaceByJesus.com ^ | 6-8-2012 | daniel1212

Posted on 09/08/2012 9:18:05 AM PDT by daniel1212


    NATIONAL TAXES, SPENDING AND DEBT

  • In June 2009 the U.S. national debt was over 11 million dollars, and growing at $3.82 billion per day. each citizen's share of this debt was $37,231.31. http://www.brillig.com/debt_clock/

  • As of Aug. 08 2011, the national debt was at $14.5 trillion, but with $211 trillion in unfunded liabilities. http://www.christianpost.com/news/whats-the-real-national-debt-211000000000000-53525/

  • As of Sept 6. 2012, the national debt was over $16 trillion, The estimated population of the United States is 313,455,377, so each citizen's share of this debt is $51,091.16. The National Debt has continued to increase an average of $3.88 billion per day since September 28, 2007 http://brillig.com/debt_clock/

  • After accounting for the U.S. government's public debt, federal employee pensions and other retirement benefits, current and expected obligations for Social Securitzy and Medicare, the National Center for Policy Analysis said the U.S. federal government faces unfunded liabilities totaling $84 trillion. http://www.ncpa.org/pdfs/st338.pdf; http://www.americanthinker.com/blog/2012/08/fiscal_failure.html

  • Using the Congressional Budget Office’s realistic long-term budget forecast, Laurence Kotlikoff (an economist at Boston University), estimates the full national debt is $222 trillion ($700,000 per person; $1.9 million per household).

  • According to former U.S. Comptroller, David Walker, the U.S. national debt is growing at a rate of $10 million ($10,000,000.00) per minute. http://keepingamericagreat.org/10-million-a-minute-tour/

  • If current trends continue, the U.S. will become operationally bankrupt in 2037 and will be actually bankrupt in 2047. http://www.redstate.com/2012/09/04/our-irresponsible-and-unpatriotic-16-trillion-national-debt/

  • The National Debt rose $4.899 trillion during the two terms of the Bush presidency. It was $10.626 trillion on President Bush's last day in office. It has now gone up $4.939 trillion [5.5 trillion — 50% — as of Sept. 2012] since President Obama took office. The National Debt also now exceeds 100% of the nation's Gross Domestic Product, the total value of goods and services. The Debt has now increased more during President Obama's three years and two months in office than it did during 8 years of the George W. Bush presidency. Mark Knoller, 2012 CBS Interactive Inc, March 19, 2012; http://www.cbsnews.com/2102-503544_162-57400369.html

  • If Mr. Obama wins re-election, and his budget projections prove accurate, the National Debt will top $20 trillion in 2016, the final year of his second term. That would mean the Debt increased by 87 percent, or $9.34 trillion, during his two terms. ^

  • Based on to the historical tables published by the Presidents Office of Management and Budget, the three fiscal years of 2010, 2011, and 2012 are three of the only four fiscal years since the Japanese surrendered on Sept. 2, 1945, that the federal government has spent more than 24 percent of GDP. The fourth fiscal year since the end of World War II in which the federal government spent more than 24 percent of GDP was 2009. That fiscal year started when George W. Bush was president and ended when Obama was president. http://cnsnews.com/news/article/obama-i-ve-been-president-federal-spending-has-risen-lowest-pace-nearly-60-years; cf. http://www.cbsnews.com/2300-250_162-10008800-5.html?tag=page

  • According to the U.S. Treasury, foreign governments and investors now hold some $2.23 Trillion - or about 44% of all publicly held U.S. Debt (2007), the first being Japan ($586 billion), then China ($400 billion), and then Britain ($244 billion). Saudi Arabia and other oil-exporting countries account for $123 billion. U.S. Treasury. Copyright 2007 The Associated Press. http://www.usatoday.com/news/washington/2007-12-03-debt_N.htm

  • As of 1994, the Federal Reserve estimated that of the approximately $365 billion of American currency in circulation, 60 percent was held somewhere outside the country. L. Reichard White http://www.usagold.com/gildedopinion/bigfloat.html

  • In 1954 [during the beginning of the “cold war”] defense spending was 70 percent of federal spending while "human resources" was 19 percent. In 2003, defense was 19 percent with human resources accounting for 66 percent. The Next Economy By Robert J. Samuelson Wednesday, December 29, 2004; Page A19. © 2004 The Washington Post Company. http://www.washingtonpost.com/wp-dyn/articles/A32610-2004Dec28.html

  • In the post-war era, federal spending as a percentage of the U.S. economy has hovered around 20 percent, give or take a couple of percentage points. Under Obama, it has hit highs not seen since the end of World War II. http://www.cato.org/publications/policy-analysis/how-much-ivory-does-tower-need-what-we-spend-get-higher-education

  • The 10% of households with the highest incomes pay over 50% of all federal taxes. They pay more than 70% of federal income taxes, according to the Congressional Budget Office. Associated Press; http://www.usatoday.com/money/perfi/taxes/story/2011-09-20/buffett-tax-millionaires/50480226/1

  • In 2009, taxpayers who made $1 million or more paid on average 24.4% of their income in federal income taxes, according to the IRS. Those making $100,000 to $125,000 paid on average 9.9% in federal income taxes, while those making $50,000 to $60,000 paid an average of 6.3%. ^

  • In 2011 households making more than $1 million will pay an average 29.1% of their income in federal taxes, including income taxes, payroll taxes and other taxes, according to the Tax Policy Center, a Washington think tank. Households making between $50,000 and $75,000 will pay an average of 15% of their income in federal taxes, while those households making between $40,000 and $50,000 would pay an average of 12.5% of their income in federal taxes, and those households making between $20,000 and $30,000 would pay 5.7%. Individuals who make most of their money in wages pay taxes at a higher rate, while those who get most of their income from investments pay at lower rates. ^

  • Only 50.5 percent of Americans pay federal income tax. http://www.businessinsider.com/facts-about-the-majority-of-americans-2012-3#the-majority-of-americans-are-over-30-america-has-the-42nd-highest-median-age-in-the-world-1

  • In 2011 income fell for the top 5 percent of households 1.2 percent to $180,810. The bottom fifth of households — those making $20,000 or less — saw incomes decline 4 percent. Since 2000, the median income for America's middle class has fallen from $72,956 to $69,487. The “Middle class" makes up about 51 percent of U.S. adults, down from 61 percent in 1971. 44 percent of the Middle class blame the Bush administration and 34 percent fault the Obama administration. 52 percent say President Barack Obama's policies in a second term would help the middle class, versus 42 percent who say that electing Republican challenger Mitt Romney would help them. http://pewsocialtrends.org; http://www.foxnews.com/us/2012/08/22/middle-class-share-america-income-shrinking/

  • Government outlays intended to hold down the price of a college degree have ballooned, in inflation-adjusted dollars, from $29.6 billion in 1985 to $139.7 billion in 2010: an increase of 372 percent since Ronald Reagan's day.

  • total federal aid intended to hold down the price of a college degree have soared by more than $100 billion in the space of a single decade -- from $64 billion in 2000 to $169 billion in 2010. Jeff Jacoby, The Boston Globe

  • April 29, 2012 http://www.jeffjacoby.com/11618/the-government-college-money-pit

  • Health and Human Services made up the single largest part of the 2012 budget. http://www.federalbudget.com/; http://www.cbpp.org/cms/index.cfm?fa=view&id=1258 [disdaining the Word of God and supplanting it with the perverse morality and social engineering of Secular Humanism (or with other false religions) has cost America and the world incredibly in monetary realms. Most wars are begun as a result of man's lust for power and which would not be if men yielded to Christ, and obedience to Biblical morals would also eliminate such things as STD's as well as the results of other “hurtful lusts” (1Tim., 6:9), which costs souls now and will do so in the hereafter. Only when one volitionally receives the Lord Jesus and His salvation will one find the spiritual life that alone can truly change the heart, and enable one to follow Christ. And which salvation and sanctification works to the benefit of a country, in temporal terms as well as spiritual. ”Happy is that people, that is in such a case: yea, happy is that people, whose God is the LORD” (Ps. 144:15).]

  • Medicaid is now the largest government health care program, costing federal and state governments $259 billion in FY 2002--surpassing the cost of Medicare, which was $257 billion, for the first time ever. Honorable Thomas A. Scully before the Subcommittee on Health http://www.heritage.org/research/features/issues2004/medicaid.cfm#FF

  • U.S. health care spending is expected to increase at similar levels for the next decade reaching $4.2 TRILLION in 2016, or 20 percent of GDP. Poisal, J.A., et al, Health Spending Projections Through 2016: Modest Changes Obscure Part D’s Impact. Health Affairs (21 February 2007): W242-253.

  • In 1960, 52 percent of federal spending went for defense, 26 percent for "payments for individuals." By 2008, 61 percent consisted of "payments for individuals," 21 percent for defense. http://www.washingtonpost.com/wp-dyn/content/article/2009/06/21/AR2009062101792.html?hpid=opinionsbox1

  • Starting in 1964, the U.S. has spent an estimated $16 trillion trying to help the less well-off. http://www.investors.com/NewsAndAnalysis/Article/579547/201107261841/Govt-Racks-Up-Another-Failure.htm

  • 45 percent of the 1.6 million veterans from the Iraq and Afghanistan wars are now seeking compensation for injuries they claim are service-related. That is more than twice the estimated 21 percent who filed such claims after the Gulf War in the early 1990s. Almost one-third have been granted disability. The new veterans are also claiming eight to nine ailments on average. Vietnam veterans currently receiving compensation average less than four, while World War II and Korea veterans average two. More than 95 percent of troops wounded in Iraq and Afghanistan have survived. Associated Press, 5-27-12; http://www.freerepublic.com/focus/f-news/2888585/posts

  • 49.1 percent of the US population that lives in a household where at least one member received some type of government benefit in the first quarter of 2011, up from 30% in the early 1980s and 44.4% as recently as the third quarter of 2008. As of early 2011, 15% of people lived in a household that received food stamps, 26% had someone enrolled in Medicaid and 2% had a member receiving unemployment benefits. The Census data show that 16% of the population lives in a household where at least one member receives Social Security and 15% receive or live with someone who gets Medicare. There is likely a lot of overlap. http://blogs.wsj.com/economics/2012/05/26/number-of-the-week-half-of-u-s-lives-in-household-getting-benefits/

  • When the food stamp program was first expanded nationally in the 1970s, just 1 in 50 Americans participated. The 2002 Farm Bill expanded eligibility to noncitizens, made it easier to enroll, increased benefits for families with more children, and adjusted benefits for inflation. The 2008 Farm Bill further eased eligibility requirements, and included higher minimum benefits. Spending after changes in eligibility grew by $185 billion between 2002 and 2008. The 2009 stimulus bill scrapped limits on SNAP benefits to adults without children and raised the maximum benefit by 13.6 percent through 2014. About 20% of the $198 billion growth in between 2009 and 2011 can be attributed to the new eligibility standards, and thus they will not go away once the economy recovers. Veronique de Rugy, “The great Bush-Obama food stamp expansion,” The Washington Examiner, June 28, 2012 http://washingtonexaminer.com/the-great-bush-obama-food-stamp-expansion/article/2500895 ^

  • An estimated 45 million Americans received food stamps in 2011, at a cost of $78 billion. That is more than a 200% increase in money from just five years ago when 26 million people received benefits at a cost of $33 billion. Some 70 percent of the nearly $1 trillion Farm Bill recently passed by the Senate will be spent on food stamps, representing $770 billion over 10 years.

  • During February 2010, 1 in 8 Americans were enrolled for food stamps. Since reaching 31.78 million in December 2008, enrollment in Supplemental Nutrition Assistance Program (SNAP) has set a record each month. USDA estimates enrollment for fiscal year 2010, which ends Sept 30, is expected to average 40.5 million people, at a cost of up to $59 billion. Average enrollment for fiscal 2011 is predicted to be 43.3 million people. Reuters,Food-stamp tally nears 40 million, sets record,” May 7, 2010

  • The USDA dedicated $5 million in 2011 to “improve access to and increase participation in the Supplemental Nutrition Assistance Program.” Oregon was the winner of the $5 million performance bonus for being the best at ensuring that people eligible for food benefits receive them and a second recognition for its swift processing of applications. http://www.judicialwatch.org/blog/2011/04/usda-spends-5-mil-to-recruit-food-stamp-recipients/ http://cms.oregon.egov.com/DHS/news/2011news/2011-0928.pdf?ga=t

  • The Congressional Budget Office said Thursday that 45 million people in 2011 received SNAP benefits, a 70% increase from 2007. The CBO projected that one in seven U.S. residents received food stamps last year. http://blogs.wsj.com/economics/2012/04/19/food-stamp-rolls-to-grow-through-2014-cbo-says/?mod=e2tw

  • One in five Americans (60.8 million) depend [in part or full?] on government for their daily housing, food and health care. On average, those on government assistance receive more than four times as much taxpayers' money per year (approx. $26,150)- as they would have in 1962, adjusting for inflation. The Heritage Foundation Index of Dependence shows a 12-fold increase from the period of during the Kennedy administration. The rate of dependency increased 31 percent over the past eight years. Heritage Foundation, “The 2009 Index of Dependence on Government,” March 4, 2010 http://www.heritage.org/research/reports/2010/03/the%202009%20index%20of%20dependence%20on%20government

  • 2012. Around 5.3 percent of the population between the ages of 25 and 64 is currently collecting federal disability payments, a jump from 4.5 percent since the economy slid into a recession. Mental-illness claims, in particular, are surging. During the recent economic boom, only 33 percent of applicants were claiming mental illness, but that figure has jumped to 43 percent, says Rutledge, citing preliminary results from his latest research. NY. Post., Jobless disability claims soar to record $200B as of January, February 19, 2012,

  • In just the first four months of 2012, 539,000 joined the disability rolls and more than 725,000 put in applications. As a result, by April there were a total of 10.8 million people on disability, [SSI and SSDI?] according to Social Security Administration data, a 53% increase from a decade ago, after accounting for all those who've left the program (about 700,000 drop out each year, mainly because they reached retirement age or died). http://news.investors.com/article/608418/201204200802/ssdi-disability-rolls-skyrocket-under-obama.htm?p=full Also see http://www.akdart.com/poverty.html

  • A record 5.4 million workers and their dependents have signed up to collect federal disability checks since President Obama took office, according to the latest official government data, as discouraged workers increasingly give up looking for jobs and take advantage of the federal program. From June 2009, the number of new enrollees to Social Security’s disability insurance [SSDI, financed with Social Security taxes paid] program is twice the job growth figure. ^

  • SSDI now accounts for more than 16% of Social Security's budget and more than 15% of Medicare's (SSDI enrollees can qualify for Medicare after two years.) ^

  • The amount of money the federal government hands out in direct payments increased 32% during first three years of Mr. Obama's Presidency. http://patriotupdate.com/17823/food-stamps-up-45-federal-handouts-up-32

  • 49% of people live in homes where at least one person gets a federal benefit (Social Security, food stamps, unemployment insurance, worker’s compensation, or subsidized housing) up 44% from the year before Obama took office. ^

  • In 1988, there were 4.46 million SSI [Supplemental Security Income, financed through general revenues from taxes, meaning benefits are not based on your prior work history] recipients, 6 million in 1993 and in 2011 there were 8 million. http://www.cato.org/pubs/pas/pa-224.html; http://www.socialsecurity-disability.org/disability-benefits

  • Despite nearly $15 trillion in total welfare spending since Lyndon Johnson declared war on poverty in 1964, the poverty rate is perilously close to where it was more than 40 years ago. http://www.cato.org/pubs/pas/PA694.pdf

  • Since President Obama took office [in January 2009], federal welfare spending has increased by 41 percent, more than $193 billion per year, a 42 percent increase over welfare spending in 2008. And over the next decade, welfare spending is projected to cost taxpayers $10.3 trillion. ^

  • In 2011 the federal government spent roughly $668.2 billion on 126 separate and often overlapping anti-poverty programs. These include 33 housing programs run by four different cabinet departments, and 21 different programs providing food or food-purchasing assistance, along with 8 different health care programs, and six cabinet departments and five independent agencies oversee 27 cash or general assistance programs. All together, seven different cabinet agencies and six independent agencies administer at least one anti-poverty program. ^

  • At least 106 million (almost 1 out of 3 of all ages) Americans receive welfare benefits from one or more welfare programs (excluding Social Security, Medicare, pensions etc.), with Medicaid and food stamps having the highest percentages. ^

  • Medicaid is the single largest welfare program at $228 billion in 2011. Supplemental Nutrition Assistance Program (food stamps) was the second most expensive welfare program at nearly $72 billion. ^

  • In fiscal year 2008, anti-poverty spending was $475 billion. In fiscal year 2009, when Obama took office, it had risen to $590 billion. Income limits for eligibility have risen twice as fast as inflation since 2007 and are now roughly 10 percent higher than they were when Obama took office, representing an increase of more than $193 billion since his presidency began. ^

  • State and local governments provide additional funding for several of these programs and also operate a number of programs on their own, adding another $284 billion per year. If one includes state and local welfare spending, government at all levels will spend more than $952 billion this year to fight poverty, just short of the trillion dollar mark. To put this in perspective, the defense budget for 2012, including spending for the wars in Iraq and Afghanistan, totals $685 billion. ^

  • From the end of 1989 through 1996, the number of children receiving SSI benefits more than tripled from 265,000 to about 955,000. (Adults are considered disabled if they are unable to engage in substantial gainful activity by reason of a medically determinable physical or mental impairment expected to result in death or last at least 12 months. 42 U.S.C. § 1382c(a)(3)(A).) United States Government Accountability Office, Statement of Daniel Bertoni, Director Education, Workforce, and Income Security, October 27, 2011 (http://waysandmeans.house.gov/UploadedFiles/Daniel_Bertoni_Testimony_1127.pdf)

  • SSA data show the number of child applicants with mental impairments increased 60 percent between fiscal year 2000 and fiscal year 2010, while the total number of SSI child beneficiaries with mental impairments on the rolls grew 52 percent from 543,000 to 827,000. In fiscal year 2010, about 62 percent of all SSI child applicants had a mental impairment as a primary diagnosis, and about 67 percent of those applicants were medically approved for benefits. ^

  • The number of children found to be medically eligible for SSI due to speech and language delay nearly tripled between fiscal years 2000 to 2010. ^

  • As of December 2010, the average monthly child benefit was $597. All but five states and the Commonwealth of the Northern Mariana Islands supplement federal SSI benefits with additional payments. ^

  • ADD/ADHD represent the single largest primary diagnostic group, and the number of children found to be medically eligible because of ADD/ADHD increased by more than 100 percent, even though the majority of ADD/ADHD applications over the years have been medically denied. ^

  • 79 percent of 434,000 SSI recipients under age 18 with mental impairments who had reached their scheduled CDR [Continuing Disability Reviews] date (every 3 years) had exceeded the scheduled date by at least a year. ^

  • The top 10 States with the highest percentage of non-poor residents of each state signed up for government assistance were Vermont, Mississippi, Maine, New York, Massachusetts, Alaska, Rhode Island, Hawaii, Connecticut, Arkansas. http://www.cato-at-liberty.org/the-moocher-index/

  • In 48 states, the cost of center-based child care for a four-year-old is greater than tuition at a four-year public college. http://www.childrensdefense.org/pressreleases/040713.asp

  • Cost to raise a child until age 18 is approximately $177,250 to $350,210. Parents 2000

  • The tax revenues that would have been from the 26.9 million children that have been legally aborted in America by 1991 is an estimated $135 billion. The Cost of Abortion, Lawrence F. Roberge http://www.pregnantpause.org/abort/gap.htm

  • Approx 44 million Americans live below the poverty line. http://beforeitsnews.com/gold-and-precious-metals/2012/08/50-of-americans-at-or-below-poverty-line-2444776.html

    Undocumented immigrants constitute about 4% of the total U.S. population. About 75% of the nation's unauthorized immigrants are Latino, 59% from Mexico. http://pewhispanic.org/reports/report.php?ReportID=107





TOPICS: Business/Economy; Culture/Society; Extended News; Government
KEYWORDS: bloggersandpersonal; finances; liberalism; nationaldebt; obama; vanity
This only part of a large study, REVEALING STATISTICS, Subtitle: Present Costs of the War against God.

Pertinent additional referenced stats are requested, but i will not be back till later.

1 posted on 09/08/2012 9:18:24 AM PDT by daniel1212
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To: daniel1212; metmom; boatbums; caww; presently no screen name; smvoice; HarleyD; HossB86; ...

Statistical evidence of financial liberal decline. Note: the ^ symbol refers to the last referenced source.


2 posted on 09/08/2012 9:22:34 AM PDT by daniel1212 (Come to the Lord Jesus as a damned+destitute actual sinner, + trust Him to save you, then live 4 Him)
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To: daniel1212

The first bullet appears wrong - the national debt in June was bigger than 11 million - or am I reading something wrong?


3 posted on 09/08/2012 9:27:17 AM PDT by jettester (I got paid to break 'em - not fly 'em)
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To: daniel1212

Outstanding, informative, educational post. Thanks very much.

Socialism Is Legal Plunder - “The Law” - Frederic Bastiat 1801-1850

DEFUND socialist collectives, foreign and domestic.
DEPOPULATE socialists from the body politic.

Watch the debt clock spin in reverse faster than a socialist’s psychotic head. It’s easy to...

live - free - republic


4 posted on 09/08/2012 9:41:45 AM PDT by PGalt
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To: daniel1212; metmom; boatbums; caww; presently no screen name; smvoice; HarleyD; HossB86

Mort Zuckermann had a great editorial in the Wall Street Journal today. One of the points he made was we have 5.2 million fewer people in the workforce today than we did in 2000 even though our population grew by 31 million. His point is we are in an invisible depression, not a sluggish recovery.

The reason the extent of the financial decline we are in is invisible is because of things like food stamps, social security disability, and extended unemployment compensation. The media is able to “sugar coat” the problem unlike the 1930’s because in the 1930’s it was impossible to ignore the soup kitchen lines.

Romney’s response to the jobs number Friday was perfect. He began educating people that the reason the unemployment rate declined wasn’t the 96K jobs created, but the 360K who gave up looking for work and are no longer counted among the unemployed.


5 posted on 09/08/2012 9:44:20 AM PDT by wmfights
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To: daniel1212

Jan 2007 - Democrats take control of Congress — Total national debt: 8,676,668,422,505.86
Sep 6 2012 - Total national debt with Democrats in control of the nation’s purse strings: 16,045,515,411,416.83

Since Harry Reid has been in control of the senate, the government has nearly DOUBLED the national debt. The last time the senate passed a budget, Senator Obama voted for it - but of course, it’s all Bush’s fault. If Democrats can do this in five years, just imagine what they could do with another four.

It’s time for change. Before we run out of hope.


6 posted on 09/08/2012 9:46:12 AM PDT by kingu (Everything starts with slashing the size and scope of the federal government.)
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To: jettester

“the national debt in June was bigger than 11 million”

Has to be trillion.


7 posted on 09/08/2012 9:55:40 AM PDT by all the best (`~!)
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To: kingu; all the best

Thanks for catching that. Yes, 11 trillion i late March 2009.


8 posted on 09/08/2012 12:54:34 PM PDT by daniel1212 (Come to the Lord Jesus as a damned+destitute actual sinner, + trust Him to save you, then live 4 Him)
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To: wmfights

Insightful. If the government takes the place of private charity, which it “progressively” seeks to do, then it can hide effects of poverty while making ppl so depending upon the government god that few dare to vote for those sane candidates who seek to actually help the poor by sound Biblical principals such as actually rewarding honest effort and private investment, etc. rather than “climbing up some some other way.”


9 posted on 09/08/2012 1:01:10 PM PDT by daniel1212 (Come to the Lord Jesus as a damned+destitute actual sinner, + trust Him to save you, then live 4 Him)
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To: kingu

That is the type of thing they do not want you to see, but the Republicans have not taken the strong line they need to either.


10 posted on 09/08/2012 1:04:11 PM PDT by daniel1212 (Come to the Lord Jesus as a damned+destitute actual sinner, + trust Him to save you, then live 4 Him)
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To: wmfights

And thanks for the stats that page provides:

The unemployment figure was 8.1% as of 9-9, 2012, based on people who have actively applied for a job in the past four weeks
Include the eight million who have simply given up looking, and the real unemployment rate is closer to 19%.

40.7% of the people counted as unemployed have been out of work for 27 weeks or more—that’s 5.2 million “long-term” unemployed. Fewer Americans are at work today than in April 2000, even though the population since then has grown by 31 million.

...food stamps: More than 45 million Americans are in the program! An almost incredible record. It’s 15% of the population compared with the 7.9% participation from 1970-2000. Food-stamp enrollment has been rising at a rate of 400,000 per month over the past four years.

More than 11 million Americans are collecting federal disability checks. Half of these beneficiaries have signed on since President Obama took office more than three years ago. (http://online.wsj.com/article/SB10000872396390444273704577635681206305056.html?mod=WSJ_hpp_sections_opinion#printMode)

Then there are these from an article by him from July 23:

The official unemployment rate is 8.2%. But if you add to that the number of discouraged workers who have dropped out of the labor market since the recession began in early 2008—approximating eight million—the rate would be an alarming 12%. Fifty percent of the jobs created since the recession hit have been part time, with no benefits and a wage that’s inadequate to enter the middle class. If you add the number of part-time workers into the mix, the unemployment rate climbs to 14.9%.

Official unemployment under President Obama has averaged 8.8%, a record. Under George W. Bush, his predecessor, the jobless rate averaged 5.3% and was at 6.8% in the month his party lost the 2008 election. Job seekers are only one-third as likely to find a job as before Mr. Obama was elected.

Another depressant has been the drop—by more than 40%—of the average American family’s net worth over the past five years.

The ratio of U.S. household debt-to-income, 134% in 2007, has dropped to a nine-year low of approximately 114% today. (Unemployment Is Still the Biggest Election Issue, http://online.wsj.com/article/SB10000872396390444873204577537232812750926.html#printMode)


11 posted on 09/08/2012 2:09:36 PM PDT by daniel1212 (Come to the Lord Jesus as a damned+destitute actual sinner, + trust Him to save you, then live 4 Him)
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To: daniel1212
If the government takes the place of private charity, which it “progressively” seeks to do, then it can hide effects of poverty while making ppl so depending upon the government god that few dare to vote for those sane candidates who seek to actually help the poor by sound Biblical principals such as actually rewarding honest effort and private investment, etc. rather than “climbing up some some other way.”

Well said Brother!

Of course they help because they are "morally superior" to those of us who take Bible teachings such as "he who will not work should not eat". We would actually want to help our neighbors learn how to provide for themselves.

12 posted on 09/08/2012 4:46:53 PM PDT by wmfights
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To: daniel1212

What a lot of people don’t know is the person writing that article was a big obama supporter in 2008.


13 posted on 09/08/2012 4:54:02 PM PDT by wmfights
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To: wmfights

Really! And i did not agree with all his advice in the latest article


14 posted on 09/08/2012 5:13:22 PM PDT by daniel1212 (Come to the Lord Jesus as a damned+destitute actual sinner, + trust Him to save you, then live 4 Him)
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To: daniel1212
Zuckermann has made billions in real estate, primarily in NYC. He owns World News and Report.

I'm with you I didn't agree with all his solutions either, but the objective data is pretty clear. I think it's a good indicator that more and more business executives who supported obama in 2008 are changing their minds.

15 posted on 09/09/2012 7:58:29 PM PDT by wmfights
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