A recession hit and it Oblama fault? I think you may have forgotten the true intent of recessions by the rich, it allows them to take what other people worked to accomplish. The rich hates the middle class and the poor, they laugh at our predicament and the huge settlement amounts that banks/financial inst. are having to pay only showed their true intent..
Let's enjoy a trip down Memory Lane......
1.More than 6.7 million more Americans have been plunged into poverty since Obama became President.
2.Real household income is down 5%
3. Consumer prices are up 10.2%
4. Total federal debt is up 58%
5. Gasoline prices are up 82%
6. Food stamp recipients up 49%
7. Debt held by the public is up 89%
However, the Obama administration
recently projected an annual deficit of $750 billion in the fiscal year that began Oct. 1, and $626 billion the year after. At that rate, the debt owed to the public will more than double during the Obama presidency.
As of 2012, according to the most recent figures reported by the Census Bureau, median (midpoint) income for all U.S. households was $51,017, which was 4.9 percent lower (in inflation-adjusted dollars) than it was in 2008, the year before Obama took office.
The same story applies to family income, which includes many families with two earners. (The “household” figure includes single persons living alone, as well as families.) Median family income in 2012 was $62,241, or 5.1 percent below the inflation-adjusted 2008 level.
The number of persons living in poverty also worsened again in 2012, according to the most recent Census figures.
8. As of last year, 46,496,000 persons lived in households with income below the official poverty line, an increase of nearly 6.7 million since 2008 and 249,000 since 2011. The total poverty rate remained unchanged in 2012 at 15 percent of the total U.S. population. So for the second straight year, the poverty rate was 1.8 points higher than it was in 2008.
Obama 8217 s Numbers October Update
9...
in today’s recovery — the slowest in the modern era going back to 1947 — private capital investment has lagged badly. ... so has the jobs situation, with 92 million dropping out of the workforce altogether. A labor-participation rate of 62.8% and an employment-to-population rate of 58% are historic lows indicative of the anemic jobs recovery.Big Business Swings Behind a Mantra of Growth - The New York Sun
10. Tavis Smiley: 'Black People Will Have Lost Ground in Every Single Economic Indicator' Under Obama
Tavis Smiley Black People Will Have Lost Ground in Every Single Economic Indicator Under Obama
11. . ".... the... [dollar] has today a value of barely a 1,250th of an ounce of gold, a staggering plunge from an 853rd of an ounce on the day Mr. Obama took office...."
Fiat Wages - The New York Sun
12. "CBO says deficits slated to shrink in coming years, but will soar again if spending or tax changes are not made
Federal deficits have soared between 2009 and 2012, bring the total long-term debt to a level equal to 73 percent of the nation’s GDP. “Between 2009 and 2012, the federal government recorded the largest budget deficits relative to the size of the economy since 1946, causing federal debt to soar.”
CBO says deficits slated to shrink in coming years but will soar again if spending or tax changes are not made Dallas Morning News
13. "
Incomes Have Dropped Twice as Much During the 'Recovery' as During the Recession
. ...the Census Bureau's Current Population Survey ....indicate that the real (inflation-adjusted)
median annual household income in America has fallen by 4.4 percent during the "recovery," after having fallen by 1.8 during the recession.
Incomes Have Dropped Twice as Much During the Recovery as During the Recession The Weekly Standard
14. "(CNSNews.com) - The real median income of American women dropped a little more than four percent in the first three full years after the end of the last recession,..... Census Bureau income data, the median income of American women was $21,520 in constant 2012 dollars. That was down $914 dollars—or about 4.1 percent—from 2009."
Median Income of Women Dropped 4 --In First 3 Years of Recovery CNS News
15. "
US economy slowed to 0.1 percent growth rate in Q1
WASHINGTON (AP) — The U.S. economy slowed drastically in the first three months of the year...to a barely discernible 0.1 percent annual rate in the January-March quarter, the Commerce Department said Wednesday. That was the weakest pace since the end of 2012 and was down from a 2.6 percent rate in the previous quarter.... the anemic growth last quarter is surely a topic for discussion at the Federal Reserve's latest policy meeting,..."
My Way News - US economy slowed to 0.1 percent growth rate in Q1
16. "More Than 92 Million Americans Remain Out Of Labor Force
The unemployment rate dropped to 6.3 percent in April from 6.7 percent in March, the lowest it has been since September 2008 when it was 6.1 percent. The sharp drop, though, occurred because the number of people working or seeking work fell. The Bureau of Labor Statistics does not count people not looking for a job as unemployed.
The bureau noted that the civilian labor force dropped by 806,000 last month, following an increase of 503,000 in March."
Report More Than 92 Million Americans Remain Out Of Labor Force CBS DC
The amount (not seasonally adjusted) of Americans not in the
labor force in April rose to 92,594,000, almost 1 million more than the previous month.
17. "The U.S. economy contractedat a much steeper pace than previously estimated in the firstquarter, but there are indications that growth has sincerebounded strongly.
The Commerce Department said on Wednesday gross domesticproduct fell at a 2.9 percent annual rate, the economy's worstperformance in five years, instead of the 1.0 percent pace ithad reported last month."
Final US first quarter GDP contracts
18. (CNSNews.com) - The number of Americans 16 and older who did not participate in the labor force climbed to a record high of 92,120,000 in June, according to data from the Bureau of Labor Statistics (BLS)..... the labor force participation rate for Americans was 62.8 percent, matching a 36-year low.
Record Number of Americans Not in Labor Force in June CNS News
19.
(CNSNews.com)– The unemployment rate for black Americans is more than double that of white Americans, according to the latest data from the Bureau of Labor Statistics (BLS).... In the numbers released today, covering the month of June, the seasonally adjusted unemployment rate for black Americans age 16 and over was 10.7%, reported the BLS. The unemployment rate for white Americans in the same age group and time-frame was 5.3%, said the BLS.
Black Unemployment 10.7 More Than Double White Unemployment 5.3 CNS News
20. (CNSNews.com) - 11.4 million Americans age 16 and over have left the workforce since President Obama took office in January 2009, according to data released today from the Bureau of Labor Statistics (BLS).
In July 2014, there were 92,001,000 Americans, 16 and over, who were classified as “not in the labor force,” meaning they not only did not have a job, but they didn’t actively seek one in the last four weeks
11 472 000 Americans Have Left Workforce Since Obama Took Office CNS News
21. "The 35.4 Percent: 109,631,000 on Welfare
109,631,000 Americans lived in households that received benefits from one or more federally funded "means-tested programs" — also known as welfare — as of the fourth quarter of 2012,
according to data released Tuesdayby the Census Bureau. When those receiving benefits from non-means-tested federal programs — such as Social Security, Medicare, unemployment and veterans benefits — were added to those taking welfare benefits, it turned out that 153,323,000 people were getting federal benefits of some type at the end of 2012.
Subtract the 3,297,000 who were receiving veterans' benefits from the total, and that leaves 150,026,000 people receiving non-veterans' benefits."
The 35.4 Percent 109 631 000 on Welfare CNS News
Excellent link showing the economy
US Household Income Department of Numbers