Consider these facts:
- The majority of jobs lost during the 'great recession' were middle-wage jobs. During the so-called Obama recovery, however, 58% of the jobs that were added were mostly low paying when these low paying jobs comprised only 21% of the jobs lost in the recession.
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| National Employment Law Project |
- Median household income is almost $4,000 less than when Barack Obama took office in 2009.
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| Sentier Research |
- An oft-discussed economic metric is the fact that the use of Food Stamps in the United States has increased by over 50% since Barack Obama took office rising from 31.6 million in December 2008 to 47.7 million in November 2012. In what possible way does this show that the life of Americans has been getting any better?
Finally, from The Economic Collapse, 37 statistics that show where four years of an Obama-led country has taken us. The answer? Not very far!
1. During Obama's first term, the number of Americans on food stamps increased by an average of about 11,000 per day.
2. At the beginning of the Obama era, 32 million Americans were on food stamps. Today, more than 47 million Americans are on food stamps.
3. According to one calculation, the number of Americans on food stamps now exceeds the combined populations of "Alaska, Arkansas, Connecticut, Delaware, District of Columbia, Hawaii, Idaho, Iowa, Kansas, Maine, Mississippi, Montana, Nebraska, Nevada, New Hampshire, New Mexico, North Dakota, Oklahoma, Oregon, Rhode Island, South Dakota, Utah, Vermont, West Virginia, and Wyoming."
4. The number of Americans receiving money directly from the federal government each month has grown from 94 million in the year 2000 tomore than 128 million today.
5. According to the U.S. Census Bureau, more than 146 million Americans are either "poor" or "low income" at this point.
6. The unemployment rate in the United States is exactly where it was (7.8 percent) when Barack Obama first entered the White House in January 2009.
7. When Barack Obama first entered the White House, 60.6 percent of all working age Americans had a job. Today, only 58.6 percent of all working age Americans have a job.
8. 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.
9. During Obama's first term, the number of Americans collecting federal disability insurance rose by more than 18 percent.
10. The Obama years have been absolutely devastating for small businesses in America. 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
Clinton: 11.2
Bush Jr.: 10.8
Obama: 7.8
11. Median household income in America has fallen for four consecutive years. Overall, it has declined by over $4000 during that time span.
12. The economy is not producing nearly enough jobs for the hordes of young people now entering the workforce. Approximately 53 percentof all U.S. college graduates under the age of 25 were either unemployed or underemployed in 2011.
13. According to a report from the National Employment Law Project, 58 percent of the jobs that have been created since the end of the recession have been low paying jobs.
14. Back in 2007, about 28 percent of all working families were considered to be among "the working poor". Today, that number is up to 32 percent even though our politicians tell us that the economy is supposedly recovering.
15. According to the Center for Economic and Policy Research, only 24.6 percent of all of the jobs in the United States are "good jobs" at this point.
16. 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.
17. According to the Economic Policy Institute, the United States is losinghalf a million jobs to China every single year.
18. The United States has fallen in the global economic competitiveness rankings compiled by the World Economic Forum for four years in a row.
19. According to the World Bank, U.S. GDP accounted for 31.8 percentof all global economic activity in 2001. That number declined steadily over the course of the next decade and was only at 21.6 percent in 2011.
20. The United States actually has plenty of oil and we should not have to import oil from the Middle East. We need to drill for more oil, but Obama has been very hesitant to do that. Under Bill Clinton, the number of drilling permits approved rose by 58 percent. Under George W. Bush, the number of drilling permits approved rose by 116 percent. Under Barack Obama, the number of drilling permits approved actuallydecreased by 36 percent.
21. When Barack Obama took office, the average price of a gallon of gasoline was $1.84. Today, the average price of a gallon of gasoline is$3.26.
22. Under Barack Obama, the United States has lost more than 300,000 education jobs.
23. For the first time ever, more than a million public school students in the United States are homeless. That number has risen by 57 percent since the 2006-2007 school year.
24. Families that have a head of household under the age of 30 now have a poverty rate of 37 percent.
25. More than three times as many new homes were sold in the United States in 2005 as were sold in 2012.
26. Electricity bills in the United States have risen faster than the overall rate of inflation for five years in a row.
27. Health insurance costs have risen by 29 percent since Barack Obama became president.
28. Today, 77 percent of all Americans live paycheck to paycheck at least part of the time.
29. It is being projected that Obamacare will add 16 million more Americans to the Medicaid rolls.
30. 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.
31. The Obama administration has been spending money on some of the most insane things imaginable. For example, in 2011 the Obama administration spent $592,527 on a study that sought to figure out once and for all why chimpanzees throw poop.
32. U.S. taxpayers spend more than 20 times as much on the Obamas as British taxpayers spend on the royal family.
33. The U.S. government has run a budget deficit of well over a trillion dollars every single year under Barack Obama.
34. When Barack Obama was first elected, the U.S. debt to GDP ratio was under 70 percent. Today, it is up to 103 percent.
35. During Obama's first term, the federal government accumulated more debt than it did under the first 42 U.S presidents combined.
36. As I wrote about yesterday, 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 ready to contribute your share?
37. If you started paying off just the new debt that the U.S. has accumulated during the Obama administration at the rate of one dollar per second, it would take more than 184,000 years to pay it off.
Read more at http://politicsandfinance.blogspot.com/2013/02/another-obama-snow-job-sequestration.html#1jLhdKbtHOeA3Fyl.99
