Skip to comments.33 Shocking Facts Which Show How Badly The Economy Has Tanked Under Obama
Posted on 08/21/2013 5:27:31 PM PDT by RKBA Democrat
Barack Obama has been running around the country taking credit for an "economic recovery", but the truth is that things have not gotten better under Obama. Compared to when he first took office, a smaller percentage of the working age population is employed, the quality of our jobs has declined substantially and the middle class has been absolutely shredded. If we are really in the middle of an "economic recovery", why is the homeownership rate the lowest that it has been in 18 years? Why has the number of Americans on food stamps increased by nearly 50 percent while Obama has been in the White House? Why has the national debt gotten more than 6 trillion dollars larger during the Obama era? Obama should not be "taking credit" for anything when it comes to the economy. In fact, he should be deeply apologizing to the American people.
And of course Obama is being delusional if he thinks that he is actually "running the economy". The Federal Reserve has far more power over the U.S. economy and the U.S. financial system than he does. But the mainstream media loves to fixate on the presidency, so presidents always get far too much credit or far too much blame for economic conditions.
But if you do want to focus on "the change" that has taken place since Barack Obama entered the White House, there is no way in the world that you can claim that things have actually gotten better during that time frame. The cold, hard reality of the matter is that the U.S. economy has been steadily declining for over a decade, and this decline has continued while Obama has been living at 1600 Pennsylvania Avenue.
It is getting very tiring listening to Obama supporters try to claim that Obama has improved the economy. That is a false claim that is not even remotely close to reality. The following are 33 shocking facts which show how badly the U.S. economy has tanked since Obama became president...
#1 When Barack Obama entered the White House, 60.6 percent of working age Americans had a job. Today, only 58.7 percent of working age Americans have a job.
#2 Since Obama has been president, seven out of every eight jobs that have been "created" in the U.S. economy have been part-time jobs.
#3 The number of full-time workers in the United States is still nearly 6 million below the old record that was set back in 2007.
#4 It is hard to believe, but an astounding 53 percent of all American workers now make less than $30,000 a year.
#5 40 percent of all workers in the United States actually make less than what a full-time minimum wage worker made back in 1968.
#6 When the Obama era began, the average duration of unemployment in this country was 19.8 weeks. Today, it is 36.6 weeks.
#7 During the first four years of Obama, the number of Americans "not in the labor force" soared by an astounding 8,332,000. That far exceeds any previous four year total.
#8 According to the U.S. Census Bureau, the middle class is taking home a smaller share of the overall income pie than has ever been recorded before.
#9 When Obama was elected, the homeownership rate in the United States was 67.5 percent. Today, it is 65.0 percent. That is the lowest that it has been in 18 years.
#10 When Obama entered the White House, the mortgage delinquency rate was 7.85 percent. Today, it is 9.72 percent.
#11 In 2008, the U.S. trade deficit with China was 268 billion dollars. Last year, it was 315 billion dollars.
#12 When Obama first became president, 12.5 million Americans had manufacturing jobs. Today, only 11.9 million Americans have manufacturing jobs.
#13 Median household income in America has fallen for four consecutive years. Overall, it has declined by over $4000 during that time span.
#14 The poverty rate has shot up to 16.1 percent. That is actually higher than when the War on Poverty began in 1965.
#15 During Obama's first term, the number of Americans on food stamps increased by an average of about 11,000 per day.
#16 When Barack Obama entered the White House, there were about 32 million Americans on food stamps. Today, there are more than 47 million Americans on food stamps.
#17 At this point, more than a million public school students in the United States are homeless. This is the first time that has ever happened in our history. That number has risen by 57 percent since the 2006-2007 school year.
#18 When Barack Obama took office, the average price of a gallon of regular gasoline was $1.85. Today, it is $3.53.
#19 Electricity bills in the United States have risen faster than the overall rate of inflation for five years in a row.
#20 Health insurance costs have risen by 29 percent since Barack Obama became president, and Obamacare is going to make things far worse.
#21 The United States has fallen in the global economic competitiveness rankings compiled by the World Economic Forum for four years in a row.
#22 According to economist Tim Kane, the following is how the number of startup jobs per 1000 Americans breaks down by presidential administration...
Bush Sr.: 11.3
Bush Jr.: 10.8
#23 In 2008, that total amount of student loan debt in this country was 440 billion dollars. At this point, it has shot up to about a trillion dollars.
#24 According to one recent survey, 76 percent of all Americans are living paycheck to paycheck.
#25 During Obama's first term, the number of Americans collecting federal disability insurance rose by more than 18 percent.
#26 The total amount of money that the federal government gives directly to the American people has grown by 32 percent since Barack Obama became president.
#27 According to the Survey of Income and Program Participation conducted by the U.S. Census, well over 100 million Americans are enrolled in at least one welfare program run by the federal government.
#28 As I wrote about the other day, American households are now receiving more money directly from the federal government than they are paying to the government in taxes.
#29 Under Barack Obama, the velocity of money (a very important indicator of economic health) has plunged to a post-World War II low.
#30 At the end of 2008, the Federal Reserve held $475.9 billion worth of U.S. Treasury bonds. Today, Fed holdings of U.S. Treasury bonds have skyrocketed past the 2 trillion dollar mark.
#31 When Barack Obama was first elected, the U.S. debt to GDP ratio was under 70 percent. Today, it is up to 101 percent.
#32 During Obama's first term, the federal government accumulated more new debt than it did under the first 42 U.S presidents combined.
#33 When you break it down, the amount of new debt accumulated by the U.S. government during Obama's first term comes to approximately $50,521 for every single household in the United States. Are you able to pay your share?
But his new designer dog is just so CUTE!
“But his new designer dog is just so CUTE!”
And what’s up with the Kardashians? You think they’ll have another baby?
35. The only growth industry out there is beggary.
Buggery, also. What with all the fag marriage and stuff.
Here’s a look at the economy from a mom’s perspective: When my son was born in September 2008, a box of generic Walmart dipes was $12.89 while a box of Pampers was $19.99. My daughter was born in August 2011 and a box of generic Walmart dipes was $14.99 while the Pampers were $23.99. Our second daughter will arrive any day now and generic Walmart dipes are $19.99. I don’t know what Pampers are, although looking at the price might send me into labor. We’re in the middle of an addition and remodel and we found some stuff packed away in dipe boxes from 2008. There were more dipes per box than in today’s box. Price up, quantity down in five short years. Wipes are about the same price, but the quantity has been cut in half.
The whole point of Obama has been to destroy the last superpower.
This means economically and industrially.
It also means destroying the middle class, where the heart of the country is - the people that actually get things done. Make things. Move things. Build things. Service things. Repair things. Keep things moving.
The middle class is the class that can prevent the destruction of the country, because together they have NUMBERS and enough combined power to force physical change, if necessary. Once all that’s left is a 1-5% elite class, a 5-10% protector class, and a 85% poor class (inner party/outer party) system, even though they are vastly numbered, they don’t have power and means to overturn the well armed, well-fed and taken care of protector class and elites.
That’s what Obama’s doing.
use cloth. I raised four on plain cloth diapers, with pins and ripstop waterproof pants.
The whole point of Obama has been to destroy the last superpower.
He is Soros-puppet.
Soros hates the States
I’ve noticed the same trend. When I started the “surviving socialism” ping list some years back, it was somewhat tongue in cheek. It isn’t tongue in cheek anymore.
Links to money saving threads:
Problem now is that the scales of society have severely tilted from a success based populus to one in love with entitlements. When you add Minorites (20%) + Moonbat liberals (15%) + Labor (5%) + Moderate Low info, Low IQ voters (10%), you may have perpetual success for the socialist party (dim) in this country.
It will be a scary day of reckoning when those living of the left hind teat of the tax payer finally loses it after the tax payers revolt.
While I understand that and I can still afford disposable, the point of the post was that we see the economy tanking every day. The next time your at the store take a look at the ice-cream. A half-gallon is no longer a half-gallon. Check out the one pound container of coffee and then squint at the weight- it’s only 12 ounces now. Its the same with the Cream of Wheat my kids eat each morning. Take a bathroom break and check out how wide your roll of toilet paper is compared to the width of the toilet paper holder. The tp used to stretch end to end. Now it’s more costly for less product. I have a huge garden and can and freeze as much as I can. The cost of canning jars has skyrocketed because more people are getting back to that.
“The Great ObamaNation” promised that he was going to fundamentally change our nation. All this proves just how successful he has been.
Ping for distribution tomorrow
A president's record does not matter when he has the females of America under his 'sexual fantasy with a gay black man' spell thing goin' on. Yeeeee'ah baby, mmmmm mmmmm mmmmmm (Enter Barry White music)
Ahhh. A canner! So tell me, do you think it’s worth the time? Would you get a pressure cooker setup or just stick with the hot water bath? Who has the best deal on jars? I’m thinking about taking it up.
Thanks in advance. RD
Oh I understand how much less value my money has in the past 6 years.