“Over the past 5 years, America has fought its way back form the worst recession since the Great Depression—over the past three and half years, our business have created 7.5 million new jobs. Our housing market is rebounding. Manufacturing is growing. The auto industry has come roaring back and sine I took office, we’ve cut the deficit in has—as fed vice Chair for the past 3 years, Janet Yellen has been exemplary and a driving force of policies to help boost our economic recovery”—OBAMA 10/9/13
All economic indicators are on “tilt”. “Why the US economy is taking so long to recover”, and job market are moving in the right direction, just not very quickly” they blamed the sequester. After 57 months in office, obama still cites the “deep hole” he inherited. Obama has a new bogeyman” Ted Cruz and his hostage taking tea party. The truth is Obama owns this economy, I compare data from 1/2009, when the ONE was Immaculated to today, here lieth the Obama economy by the numbers:
Census figures show that real median household income in the US in 2009 wass $53,285, by 2012 it is $51,017 a drop of 4.3%. The WSJ has it at $54,478 in 6/2009 when the recession supposedly ended and the so-called “economic recovery’” began. In 6/2013 the latest date available, household income was $52,098 a drop of 4.4 %. ($2380.00) Sentier Research through the Weekly Standard notes the so-called recovery is double the income drop (1.8%) that households experienced during the official recession. PBS’s Tavis Smiley said in a moment of candor, “the data is going to indicate, sadly that when the Obama Adm is over, black people will have lost ground in every single leading economic indicator”. From 6/2009 fake “recovery to 6/2013 median black household income fell by over $4,000. Female headed household income decreased by $2300, while Hispanics lost $2000—Stephen Moore
The poverty rate has increased during the Obama 5 years form over 39.8 million in 2008 to a record 46.5 million in 2013. The percentage of Americans in poverty rose form 13.2% in 2008 to 15% today. The number of people of food stamps alone has soared over 49% since 1/2009 according to factcheck.org. Welfare spending overall has hit an all time high during the obama years according to Robert Rector of Heritage. They now cost $1 trillion a year, there are over 80 such assistance programs to the poor, providing housing, food, social serves, cash, and medical care to around 100 million—a third of the population. Even Jimmy Carter recently said that the disparity between the rich and poor was twice as much as when he was in the White House and the middle class has now become more like poor people than they were 30 years ago.
EPI’s Heidi Shierholz points out that we need 8.3 million jobs just to get back to our pre-recession unemployment rate of around 5%. She maintains that 7.3% is “hugely misleading,” given the large number of missing workers out there—at least 3.4 million by her estimate, if included would make the rate 9.4%. The Boston Globe if the BLS “labor participation rate”—now just over 63%—were at pre-recession levels (66%), the unemployment rate would measure over 11%. John Willians of Shadow Stats exposes the flaws and downright deceit in government reporting of employment dates, the true unemployment figure today—without the BLS smoke and mirrors trick of conveniently dropping long term workers—is 22.8%. And the lack of jobs led to a sharp rise in Federal Disability Benefits soaring almost 20% on Obama’s watch.
Jobs are now becoming part time or temporary, the NYT reports that more than 19% work part time only. About 12% of those employed today have a temporary job—nearly 17 million people. Temps being used even in the professional sector—lawyers, doctors, and IT specialist. According to AP, “driving the trend are lingering uncertainty about eh economy,” “sidestep the new health care law’s rule that employment provide medical coverage for permanent workers.” White Castle VP Jamie Richardson said thanks to the uncertainly and cost of OBC, “White Castle growth has halted”.
On PBS’s “McLaughlin Group” Mort Zuckerman said “88% of the jobs that have been created this year are part-time jobs” and “unprecedented” number—“apprehensive about the impact of OBC and on the cost of OBC , full time jobs.”
On Oct. 7, HHS Sebelius went on TV to insist “economists, not anecdotal folks, but economists, say there is absolutely no evidence that part-time work is going up. In fact it’s going down.” Andrew Puzder, CEO of CKE Restaurants (Hardees, Carls) took to the pages of the WSJ and cited BLS figures that showed that between 1/1 and 6/30. There
were 833,000 part-time jobs added and 97,000 full time jobs lost.
Why hold people down, if the economy recovered, these people would escape poverty and become more self-reliant and these voters wouldn’t need the government handouts the dems dole out like Santa.
RECAP: MEDIAN INCOME DOWN 4.3%, IN POVERY UP 16.7%, % IN POVERTY 13.6%, PEOPLE NOT INLABOR FORCE UP 10.7%, UNEMPLOYED WORKERS UP 52%, PART-TIME HOLDERS UP 62%, ON FOOD STAMPS UP 49.2%, DIABILITY UP 19.9%, TOTAL DEBT UP 57.5%.
Source in above