Baracks Economic Ineptitude

[LogikAndReazon]

Thanks to Barack Obama and the Democrats in Congress, not since 1928 through 1932 have the American people been more significantly worse off at the end of a five-year period than they were at the beginning. The telling statistics:

A) Since January 2008 the employment age population has increased by 11.7 million, yet there are 3.0 million fewer American employed. (146.3 million in January 2008 vs. 143.3 million in December 2012.

B) At the end of 2007, the median household income was $54,489.00 (inflation adjusted); at the beginning of 2012 it had dropped to $50,020.00 (a decline of nearly 9%). The most precipitous plunge over a similar period since the Census Bureau started issuing that statistic. While American incomes were rapidly eroding, the cost of living continued to rise as the commodity price index (basket of food, fuel and other essential commodities) rose 20% from December 2007 to September 2012.

C) The average net worth of all American households from 2007 through the beginning of 2011 took a nose-drive, dropping by nearly 40%, a drop driven in great part by a devastating collapse in the median value of their homes ($250,000.00 in 2007 vs. $173,000 in 2012; a decline of 30%).

D) In December 2007, 26.5 million Americans were on food stamps at a cost of $30 Billion. As of December 2012, 47.7 million were accessing the food stamp program (increase of 80%) at a cost in excess of $70 billion.

E) The nation's growth in the Gross Domestic Product (GDP) over the past five years has also been the most anemic since the depression years.

F) While the nation's growth rate has been stagnant, spending by governments at all levels has increased dramatically from $4.9 trillion in 2007 to $6.2 trillion in 2012, a jump of 26.5% which is driven entirely by the federal government as it has increased its spending by nearly 41% over this period. This has resulted in the total national debt rising from $9.2 trillion at the beginning of January 2008 to $16.45 trillion as of today. (a staggering 79% increase).

G) Since December of 2007 there has been an increase of nearly 12% in new government jobs created (1.97 million vs. 2.2 million today). Further, the average total compensation for federal government employees increased nearly 9% to $126,200 by the beginning of 2011. Additionally, the number of government workers earning more than $150,000.00 has more than doubled over this same period. By comparison, the average total compensation for those in the private sector was $62,100.00 at the beginning of 2011, 49% of what the average federal employee realizes.


Read more: Articles: The Worst Five Years

 

[Truthmatters]

[ame=http://www.youtube.com/watch?v=YsDmPEeurfA]President Bush Addresses Nation on Economic Crisis - YouTube[/ame]

 

[DiamondDave]

And TDM (and the lemmings like her) ignore reality to live in their Obamalama fairytale

 

[ba1614]

Thanks to Barack Obama and the Democrats in Congress, not since 1928 through 1932 have the American people been more significantly worse off at the end of a five-year period than they were at the beginning. The telling statistics:

A) Since January 2008 the employment age population has increased by 11.7 million, yet there are 3.0 million fewer American employed. (146.3 million in January 2008 vs. 143.3 million in December 2012.

B) At the end of 2007, the median household income was $54,489.00 (inflation adjusted); at the beginning of 2012 it had dropped to $50,020.00 (a decline of nearly 9%). The most precipitous plunge over a similar period since the Census Bureau started issuing that statistic. While American incomes were rapidly eroding, the cost of living continued to rise as the commodity price index (basket of food, fuel and other essential commodities) rose 20% from December 2007 to September 2012.

C) The average net worth of all American households from 2007 through the beginning of 2011 took a nose-drive, dropping by nearly 40%, a drop driven in great part by a devastating collapse in the median value of their homes ($250,000.00 in 2007 vs. $173,000 in 2012; a decline of 30%).

D) In December 2007, 26.5 million Americans were on food stamps at a cost of $30 Billion. As of December 2012, 47.7 million were accessing the food stamp program (increase of 80%) at a cost in excess of $70 billion.

E) The nation's growth in the Gross Domestic Product (GDP) over the past five years has also been the most anemic since the depression years.

F) While the nation's growth rate has been stagnant, spending by governments at all levels has increased dramatically from $4.9 trillion in 2007 to $6.2 trillion in 2012, a jump of 26.5% which is driven entirely by the federal government as it has increased its spending by nearly 41% over this period. This has resulted in the total national debt rising from $9.2 trillion at the beginning of January 2008 to $16.45 trillion as of today. (a staggering 79% increase).

G) Since December of 2007 there has been an increase of nearly 12% in new government jobs created (1.97 million vs. 2.2 million today). Further, the average total compensation for federal government employees increased nearly 9% to $126,200 by the beginning of 2011. Additionally, the number of government workers earning more than $150,000.00 has more than doubled over this same period. By comparison, the average total compensation for those in the private sector was $62,100.00 at the beginning of 2011, 49% of what the average federal employee realizes.


Read more: Articles: The Worst Five Years

I was going to say you forgot "Bush did it" but like a diner bell, TDM answers.

 

[saveliberty]

The problem gets worse when Obama is clearly focused on tax increases and a debt ceiling increase, while ignoring spending cuts. I can't imagine the ecomony getting better in 2013 or 2014 and expect a recession later this year. The lefties just cry about gun control and any other distraction they can think of to mislead.