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?
We noticed great prices on quart and 10 oz tubes of caulk that were actually 20% less product. For that matter, check out what has been going on with a bag of charcoal.
It's buyer beware. Mom & Pops like us are just as outraged, but that doesn't help or make it any better.
This is where the culture has devolved down to. It really isn’t about his politics AS MUCH AS IT IS about our culture - the pResident has to be âkoolâ. Remember Klintoon playing his sax on Letterman with the youts and females going nuts? Of course Klintoonâs oval orifice activity made him âkoolâ to his followers also - if I remember correctly Klintoonâs approval rating actually went up during his impeachment.
If you garden it’s most definitely worth the time. If you purchase fresh from a farmers market for health reasons (non-gmo, organic, etc.) it’s still cheaper than buying those items canned or frozen at the store. Start with water bath and high acid foods until you establish a canning routine, then move onto pressure canning and low acid foods. Check with your county extension to see if there are any pressure canning classes. Youtube probably has some great vids as well. As for jars, Walmart price rules around here.
There are people who can’t pay their rent anymore (and have to move in with other people) and who can’t afford to own a car anymore and have to take the bus, and they STILL voted for this imposter.
Exactly! Collapse the system by overloading it.
The communists goals were clear about the strong middle class. The rich or course control whatever system there is and the poor are the useful idiots who use their vote to beg for more handouts.
What is shocking is how well the stated objectives of the communists had succeeded under their black teflon skinned salesman. Any objections are immediately called a name. I can’t believe it. Sticks and stones. How many lives have been ruined by the fear of a stupid word - racist?
Thank you for that article, depressing though it was.
plain cloth diapers...”
And once the baby is out of diapers, they make the best dust cloths ever.
Of course they vote for this imposter - they’re desperate thanks to the imposter. They don’t see the cause and effect of the communist. They are exactly what he wants.
“When the people get hungry enough they’ll take anything you give them”
And once the baby is out of diapers, they make the best dust cloths ever
they do they do!
I also notice it when using one of my old recipes that calls for one can or box of something as one of the ingredients. Never used to have to measure anything because it was all standard 16 ounce or one pound. Nothing is 16 ounces any more. That extra ounce does make a difference in consistency and taste on occasion. For some things I would rather they’d leave the size alone and just increase the price. Nobody is being fooled because the price always ends up being more for less.
Just leaves me gasping. This economy is hardly breathing. If it were a human you’d have to put a mirror up to it to see if it is actually breathing.
The number of people making less than $30,000 a year is staggering. These people could make more on the dole and that is the shame of it. Just plain humiliating.
“...The middle class is the class that can prevent the destruction of the country, ...”
Not when half of them are too stupid to realize what a hardcore Marxist asshole is... and votes one into the highest office.
You’re welcome. And it is depressing as hell.
With a chamber sealer you can also do liquids or powders with out messing up the vacuum pump. I will marinate meat in a bag all day because it will suck the liquid into the meat.
What I have is a vacmaster and it cost about $550 on amazon. Because it is a chamber sealer the bags are not the expensive bags for the other sealers. They cost about 8-10 cents each which is less than the cost of canning jar lids.
In addition I picked up a power inverter for about $35 dollars for my freezer. It allows me to run two freezers from my car battery if the power goes out.
I still can but it is when I make broth during the winter. This way the heat from canning heats my house and adds humidity to the air in the winter.
If the economy is so bad, how can Pres—ent Screwtape afford to spend 1.5 billion a year on vacations?
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Haha! Same here.
Obama hates white people.