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Sunday, May 19th, 2013 |
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Thanks Obama – Here Are 24 Stats That Show How Much You Have Royally Messed Up Our Economy
Michael Snyder
Yes, Barack Obama is not solely responsible for the economy. In fact, he does not even have the most influence over the direction of the economy. However, if he had been willing or able to actually do what was necessary to fix the economy, he certainly had ample opportunity. For example, the Democrats had full control of Congress during Obama’s first two years in office. They were in a position to push through just about anything that they wanted to. But just about everything that did get through Congress during those two years was full of really, really bad ideas. More importantly, Barack Obama has done absolutely nothing to stand in the way of the nightmarish policies of the Federal Reserve. Yes, the Federal Reserve does have more power over the U.S. economy than Barack Obama does. But Barack Obama has made no moves to reign in the Fed or to stop their idiotic policies. In fact, Obama has had nothing but good things to say about Federal Reserve Chairman Ben Bernanke, and he nominated Bernanke for another term. Talk about stupid. If you were the owner of a pro football team and your coach had lost every game for several years in a row would you give him a new contract? Of course not. But even though Federal Reserve Chairman Ben Bernanke has a track record of failure that would make the Washington Generals blush, Obama has given Bernanke his unquestioning support. Obama insists that it would be a really bad idea to ever question the “independence” of the Fed. Obama believes that it is a good thing that U.S. monetary policy is determined by a panel of “experts” that work for a secretive organization that has no direct accountability to the American people whatsoever. Yet their decisions have a huge impact on all our lives every single day. So since Barack Obama has steadfastly refused to stand up to the Federal Reserve and has had nothing but wonderful things to say about Federal Reserve Chairman Ben Bernanke, it is fair to hold Obama at least partially responsible for the nightmarish economic conditions that Fed policies have helped create. In the final analysis, basically every single decision that Barack Obama has made regarding the economy has been wrong. He has added trillions to our debt while flushing our economic future down the toilet at the same time. Thanks Obama – you really have been awful. The following are 24 stats that show just how much Obama has royally messed up our economy…. #1 Under Bill Clinton, the average unemployment rate was 5.2 percent. Under George W. Bush, the average unemployment rate was 5.3 percent. Under Barack Obama, things have been much worse. The month after he took office the unemployment rate rose above 8 percent and it has stayed there ever since. #2 Under Barack Obama, the velocity of money (a very important indicator of economic health) has plunged to a post-World War II low. #3 Real median household income has decreased by more than 4000 dollars since Barack Obama entered the White House. #4 The United States has plenty of oil and we should not have to import it from the Middle East. Unfortunately, Barack Obama has an absolutely nightmarish energy policy. 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 decreased by 36 percent. #5 When Barack Obama took office, the average price of a gallon of gasoline was $1.85. Today, the average price of a gallon of gasoline is $3.71. #6 Under Barack Obama, the United States has lost more than 300,000 education jobs. #7 Since Barack Obama became president, the number of long-term unemployed Americans has risen from 2.7 million to 5.2 million. #8 For the first time in the post-World War II era, the employment-population ratio has not bounced back after a recession. The percentage of working age Americans with a job has been below 59 percent for 35 months in a row. #9 While Barack Obama has been president, U.S. home values have fallen by another 12 percent. #10 More than three times as many new homes were sold in the United States in 2005 as will be sold in 2012. #11 Electricity bills in the United States have risen faster than the overall rate of inflation for five years in a row. Thanks Obama. #12 When Barack Obama first entered the White House, an ounce of gold was going for about $850. Today, the price of gold is over $1630 an ounce. #13 Since 2008, our economy has lost 1.3 million jobs while at the same time 3.6 million more Americans have been added to Social Security’s disability insurance program. #14 The number of Americans on food stamps has grown from 31.9 million when Barack Obama took office to 46.4 milliontoday. How much more “hope and change” are we going to be able to endure? #15 As I wrote about the other day, it is being projected that Obamacare will add 16 million more Americans to the Medicaid rolls. #16 If you can believe it (and this really is hard to believe), more than half of all Americans are now at least partially financially dependent on the government. #17 The total amount of money that the federal government gives directly to the American people has grown by 32 percentsince Barack Obama became president. #18 Under Barack Obama, federal spending as a percentage of GDP (25 percent) is the highest that it has been since World War II. #19 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. #20 The U.S. government has run a budget deficit of well over a trillion dollars every single year under Barack Obama. #21 Under Barack Obama, U.S. debt was downgraded from AAA status for the first time ever. #22 Since Barack Obama took office, the U.S. national debt has increased by 50 percent. #23 Since Barack Obama became president, the U.S. national debt has increased by an average of more than $64,000 per taxpayer. #24 During the Obama administration, the U.S. national debt has grown more than it did from the time that George Washington became president to the beginning of Bill Clinton’s second term as president.
Delivered by The Daily Sheeple Contributed by Michael Snyder of The American Dream. Michael Snyder is a writer, speaker and activist who writes and edits his own blogs The American Dream , The Truth and Economic Collapse Blog. Leave A Comment... |
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v.8
One thing you did not mention is medical inflation. Costs went up while care went down.
And your solution is what? Romney? Laughable. If you want to make sense, just say “the President.” That way it will apply any time over the last thirty years.
so what, you think we should keep Obama in office for 4 more years? You sir, are laughable. You just cant digest what you are reading.
Too bad we can’t give a vote of No Confidence or None of the Above in the Nov election. There are very few politicians who deserve to be elected this year. And any vote for a Republican or a Democrat is a vote to keep this police state alive and will ensure that our Republic fall to it knees.
It’s hard to argue with facts, and lest we not forget the Geithner component. The real problem started in 1982 when Reagan began the deregulation of the banking systems. It took another decade to get the party in place – but in the 1990s UCC changes were rampant and massive banking deregulation enabled the elites and military to run amok.
At the same time broadcast media became a property right rather than a public trust allowing corporations to monopolize the marketplace and foreign investment to control the message. At that point America changed.
It doesn’t matter who the figurehead President is – he isn’t controlling the show. He’s not even producing or directing it. And if he/she doesn’t go along with the program he could end up like Kennedy. So, what do we do?
There are TRILLION$ of dollars of U.S. debt – and no way to repay the monies. Propping up the banks can only hold for so long. Wars can no longer sustain our economy – only the rich get richer with war. Nuclear weapons and biological warfare are in the mainstream and no President can stop the proliferation of weapons when an entire world fears our country. And those that have escalated the fear need to continue the propaganda to keep from being extradited and tried for war crimes.
The one strong move Americans have against the financial forces that are in control is to remove ALL their money from the banks and stock markets. That means withdraw everything including and cashing in stocks and mutual funds. It’s all funny money anyway – it’s not really there and it’s about to collapse. Better to get it out now and invest in something tangible. The banks fear a “run” more than war because they cannot control a collapse.
We can continue down this path of depression and serfdom for another decade and possibly be taken over by a less democratic country to payoff the debts that Wall Street owes or we can force a change. It’s a drastic measure – but it’s the only way to bottom out and start over.
Nope too late will not work. They already have drbt induced education and health care. You can opt out of education but not healthcare. This is the way the elite can enslave the masses. Since most is unaffordable because they do not pay it health credit cards and such will be forced on the masses.
A’men
That’s pretty Deadly Clear to me!
People just argue amongst one another about really nothing now days. blah, blah, blah,
Something has to give before long.
Well said my man!
The author forgot to mention the staggering increase of black on white violence since the blacks KNOW the DoJ will not prosecute minorities if the crime is against Whites.
He was brought in by the the elites to weaken this country and bring about the one world government. He has done EXACTLY what his bosses wanted him to do. He has not been making mistakes. He has been running a playbook.