- Aug 4, 2011
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The unemployment rate when Mr. Obama was elected was 6.8 percent; today it is 8.5 percent at least thats the official number. In reality, the Financial Times writes, if the same number of people were seeking work today as in 2007, the jobless rate would be 11 percent.
In addition, there are now fewer payroll jobs in America than there were in 2000 12 years ago and now, 40 percent of those jobs are considered low paying, up 10 percent from when President Reagan took office. The number of self-employed has dropped 2 million to 14.5 million in just six years.
Regular gasoline per gallon cost $1.68 in January 2009. Today, its $3.39 thats a 102 percent increase in just three years. (By the way, if youre keeping score at home, gas was $1.40 a gallon when George W. Bush took office in 2001, $1.68 when he left office a 20 percent increase.)
Electricity bills have also skyrocketed, with households now paying a record $1,420 annually on average, up some $300.
Some 48 percent of all Americans 146.4 million are considered by the Census Bureau either as low-income or living in poverty, up 4 million from when Mr. Obama took office; 57 percent of all children in America now live in such homes.
Since December 2008, a month before Mr. Obama took office, food-stamp use has increased 46 percent. Total spending has more than doubled in just four years to a record high of $75 billion. In 2011, more than 46 million people about one in seven Americans got food stamps. Thats 14 million more than when Mr. Obama took office.
Median household income has dropped nearly 7 percent in the last six years, taking inflation into account. Whats more, nearly 20 percent of males age 25 to 34 now live with their parents.
Low- and middle-income Americans 65 and older now hold more than $10,000 in credit card debt, up 26 percent since 2005. The average age of the American car is 10 years; in 1990, it was 6.5 years old (by the way, in 1985, Americans bought 11 million cars; in 2009, less than half that, 5.4 million).
On the macro side, Americas annual budget has jumped to $3.8 trillion and yet the United States brings in only about $2.1 trillion in revenue. The U.S. trade deficit for 2011 was $558 billion. Americas total public debt stands at $15.23 trillion; in January 2009, the debt was $10.62 trillion. Mr. Obama is on pace to borrow $6.2 trillion in just one term more debt than was amassed by all presidents from Washington through Bill Clinton combined. The debt is rising by $4.2 billion every day $175 million per hour, nearly $3 million per minute.
So, America, that is the State of Your Union. But remember, Mr. Obama had not one thing to do with it. So dont blame him when you go to the polls. Blame everyone else, especially yourself."
CURL: The truly dismal state of the union - Washington Times
The unemployment rate when Mr. Obama was elected was 6.8 percent; today it is 8.5 percent at least thats the official number. In reality, the Financial Times writes, if the same number of people were seeking work today as in 2007, the jobless rate would be 11 percent.
In addition, there are now fewer payroll jobs in America than there were in 2000 12 years ago and now, 40 percent of those jobs are considered low paying, up 10 percent from when President Reagan took office. The number of self-employed has dropped 2 million to 14.5 million in just six years.
Regular gasoline per gallon cost $1.68 in January 2009. Today, its $3.39 thats a 102 percent increase in just three years. (By the way, if youre keeping score at home, gas was $1.40 a gallon when George W. Bush took office in 2001, $1.68 when he left office a 20 percent increase.)
Electricity bills have also skyrocketed, with households now paying a record $1,420 annually on average, up some $300.
Some 48 percent of all Americans 146.4 million are considered by the Census Bureau either as low-income or living in poverty, up 4 million from when Mr. Obama took office; 57 percent of all children in America now live in such homes.
Since December 2008, a month before Mr. Obama took office, food-stamp use has increased 46 percent. Total spending has more than doubled in just four years to a record high of $75 billion. In 2011, more than 46 million people about one in seven Americans got food stamps. Thats 14 million more than when Mr. Obama took office.
Median household income has dropped nearly 7 percent in the last six years, taking inflation into account. Whats more, nearly 20 percent of males age 25 to 34 now live with their parents.
Low- and middle-income Americans 65 and older now hold more than $10,000 in credit card debt, up 26 percent since 2005. The average age of the American car is 10 years; in 1990, it was 6.5 years old (by the way, in 1985, Americans bought 11 million cars; in 2009, less than half that, 5.4 million).
On the macro side, Americas annual budget has jumped to $3.8 trillion and yet the United States brings in only about $2.1 trillion in revenue. The U.S. trade deficit for 2011 was $558 billion. Americas total public debt stands at $15.23 trillion; in January 2009, the debt was $10.62 trillion. Mr. Obama is on pace to borrow $6.2 trillion in just one term more debt than was amassed by all presidents from Washington through Bill Clinton combined. The debt is rising by $4.2 billion every day $175 million per hour, nearly $3 million per minute.
So, America, that is the State of Your Union. But remember, Mr. Obama had not one thing to do with it. So dont blame him when you go to the polls. Blame everyone else, especially yourself."
CURL: The truly dismal state of the union - Washington Times
