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33 Shocking Facts Which Show How Badly The Economy Has Tanked Under Obama


Charlie Echo
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http://www.zerohedge.com/news/2013-08-21/33-shocking-facts-which-show-how-badly-economy-has-tanked-under-obamaSubmitted by Michael Snyder of The Economic Collapse blog,

Barack Obama has been running around the country taking credit for an "economic recovery", but the truth is that things have not gotten better under Obama.  Compared to when he first took office, a smaller percentage of the working age population is employed, the quality of our jobs has declined substantially and the middle class has been absolutely shredded.  If we are really in the middle of an "economic recovery", why is the homeownership rate the lowest that it has been in 18 years?  Why has the number of Americans on food stamps increased by nearly 50 percent while Obama has been in the White House?  Why has the national debt gotten more than 6 trillion dollars larger during the Obama era?  Obama should not be "taking credit" for anything when it comes to the economy.  In fact, he should be deeply apologizing to the American people.

And of course Obama is being delusional if he thinks that he is actually "running the economy".  The Federal Reserve has far more power over the U.S. economy and the U.S. financial system than he does.  But the mainstream media loves to fixate on the presidency, so presidents always get far too much credit or far too much blame for economic conditions.

But if you do want to focus on "the change" that has taken place since Barack Obama entered the White House, there is no way in the world that you can claim that things have actually gotten better during that time frame.  The cold, hard reality of the matter is that the U.S. economy has been steadily declining for over a decade, and this decline has continued while Obama has been living at 1600 Pennsylvania Avenue.

It is getting very tiring listening to Obama supporters try to claim that Obama has improved the economy.  That is a false claim that is not even remotely close to reality.  The following are 33 shocking facts which show how badly the U.S. economy has tanked since Obama became president...

#1 When Barack Obama entered the White House, 60.6 percent of working age Americans had a job.  Today, only 58.7 percent of working age Americans have a job.

#2 Since Obama has been president, seven out of every eight jobs that have been "created" in the U.S. economy have been part-time jobs.

#3 The number of full-time workers in the United States is still nearly 6 million below the old record that was set back in 2007.

#4 It is hard to believe, but an astounding 53 percent of all American workers now make less than $30,000 a year.

#5 40 percent of all workers in the United States actually make less than what a full-time minimum wage worker made back in 1968.

#6 When the Obama era began, the average duration of unemployment in this country was 19.8 weeks.  Today, it is 36.6 weeks.

#7 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.

#8 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.

#9 When Obama was elected, the homeownership rate in the United States was 67.5 percent.  Today, it is 65.0 percent.  That is the lowest that it has been in 18 years.

#10 When Obama entered the White House, the mortgage delinquency rate was 7.85 percent.  Today, it is 9.72 percent.

#11 In 2008, the U.S. trade deficit with China was 268 billion dollars.  Last year, it was 315 billion dollars.

#12 When Obama first became president, 12.5 million Americans had manufacturing jobs.  Today, only 11.9 million Americans have manufacturing jobs.

#13 Median household income in America has fallen for four consecutive years.  Overall, it has declined by over $4000 during that time span.

#14 The poverty rate has shot up to 16.1 percent.  That is actually higher than when the War on Poverty began in 1965.

#15 During Obama's first term, the number of Americans on food stamps increased by an average of about 11,000 per day.

#16 When Barack Obama entered the White House, there were about 32 million Americans on food stamps.  Today, there are more than 47 million Americans on food stamps.

#17 At this point, more than a million public school students in the United States are homeless.  This is the first time that has ever happened in our history.  That number has risen by 57 percent since the 2006-2007 school year.

#18 When Barack Obama took office, the average price of a gallon of regular gasoline was $1.85.  Today, it is $3.53.

#19 Electricity bills in the United States have risen faster than the overall rate of inflation for five years in a row.

#20 Health insurance costs have risen by 29 percent since Barack Obama became president, and Obamacare is going to make things far worse.

#21 The United States has fallen in the global economic competitiveness rankings compiled by the World Economic Forum for four years in a row.

#22 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

#23 In 2008, that total amount of student loan debt in this country was 440 billion dollars.  At this point, it has shot up to about a trillion dollars.

#24 According to one recent survey, 76 percent of all Americans are living paycheck to paycheck.

#25 During Obama's first term, the number of Americans collecting federal disability insurance rose by more than 18 percent.

#26 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.

#27 According to the Survey of Income and Program Participation conducted by the U.S. Census, well over 100 million Americans are enrolled in at least one welfare program run by the federal government.

#28 As I wrote about the other day, American households are now receiving more money directly from the federal government than they are paying to the government in taxes.

#29 Under Barack Obama, the velocity of money (a very important indicator of economic health) has plunged to a post-World War II low.

#30 At the end of 2008, the Federal Reserve held $475.9 billion worth of U.S. Treasury bonds.  Today, Fed holdings of U.S. Treasury bonds have skyrocketed past the 2 trillion dollar mark.

#31 When Barack Obama was first elected, the U.S. debt to GDP ratio was under 70 percent.  Today, it is up to 101 percent.

#32 During Obama's first term, the federal government accumulated more new debt than it did under the first 42 U.S presidents combined.

#33 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 able to pay your share?

 

http://www.zerohedge.com/news/2013-08-21/33-shocking-facts-which-show-how-badly-economy-has-tanked-under-obama

 

Edited by Charlie Echo
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#8 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.

Read more: http://dinarvets.com/forums/index.php?/topic/163653-33-shocking-facts-which-show-how-badly-the-economy-has-tanked-under-obama/#ixzz2i7F0pw00

 

 

Thanks for bringing this over.  I have a couple of comments...Someone in another thread said they were just grateful to be able to meet their monthly obligations, and I thought yeah, me too.  How sad is that?  We should be ANGRY that we as a nation aren't prospering!  There has got to be change!  If your willing to vote your party out of office I'll agree to vote mine out.

 

And please dear God, don't let another rerun of Leave It To Beaver ever air again.  I never want to see Ward come home to a nice house to find June vacuuming in her pearls.   Even though it was exaggerated, it's too painful to see how financially easy life once was.

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#8 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.

Read more: http://dinarvets.com/forums/index.php?/topic/163653-33-shocking-facts-which-show-how-badly-the-economy-has-tanked-under-obama/#ixzz2i7F0pw00

 

 

Thanks for bringing this over.  I have a couple of comments...Someone in another thread said they were just grateful to be able to meet their monthly obligations, and I thought yeah, me too.  How sad is that?  We should be ANGRY that we as a nation aren't prospering!  There has got to be change!  If your willing to vote your party out of office I'll agree to vote mine out.

 

And please dear God, don't let another rerun of Leave It To Beaver ever air again.  I never want to see Ward come home to a nice house to find June vacuuming in her pearls.   Even though it was exaggerated, it's too painful to see how financially easy life once was.

 

Good Post WorkerBee... I liked Your Proposal. :)

 

"There has got to be change!  If your willing to vote your party out of office I'll agree to vote mine out".

 

I don't subscribe to any party... never have... my goal is to vote out every imcumbant I can.

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Good Post WorkerBee... I liked Your Proposal. :)

 

"There has got to be change!  If your willing to vote your party out of office I'll agree to vote mine out".

 

I don't subscribe to any party... never have... my goal is to vote out every imcumbant I can.

 

Agreed! Maybe some or most first start out with good intentions but are soon overwhelmed & over run by crushing weight of Washington once they reach DC, only to become self serving instead of serving WE the people! It's not a one party thing as both sides of the aisle are guilty as h*ll.        Term limits for all in congress, maybe some would grow a spine and look out for OUR Country and the betterment of the Nation as a whole if they knew they only had so much time to accomplish what is on the agenda before their time to serve was up. They would not need to clutter up valuable time thinking about campaigning for the next re-election as there  would not be a next time, giving them the time to actually do what they are being paid to do..........SERVING WE THE PEOPLE!

 

 

WoodChopper

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I register to vote as a republican..............I have contacted my representatives letting them know that my votes will be cast to get the incumbents out.  Democrat, Republican, or Independent........The new man will get my support; no matter what his platform is.

 

http://www.house.state.tx.us/members/find-your-representative/

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"The new man will get my support; no matter what his platform is."

I understand your thinking jonjon, but I really don't think we can change this complicit ideology of statest tyranny without removing all in Washington and replacing them with people that understand the constitution and the reasoning behind the guidelines placed within it .... besides that we are so post constitutional now only the States themselves can save us now.  I don't think we have enough money and organization to pull that off.   I'm not giving up, but our country has started down the slippery slope of socialistic ideology and unfortunately, we have been teathered to this way of thinking by the laws that were implemented by this tyrannical dictator we have in the White House..  Sheep will follow the free money but ignore the right things required to regain the common sense needed to take us back to our true intentions of Federalism and our Constitutional principles. 



 

Edited by Charlie Echo
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