- This Presidential administration spent a whopping $800 billion in a so-called economic stimulus package.
- This Presidential administration had the benefit of an energy revolution that significantly reduced the energy costs of businesses and households, freeing up money to be spent throughout the economy.
- This Presidential administration had the benefit of the Federal Reserve Board printing trillions and trillions of dollars and putting them in play to jump start the economy.
- The percentage of American men in the labor force hit a record low in September.
- 71.3% of men aged 20 or older held a job or actively sought one in September while only 68.7% of men over 16 had a job or were looking for one.
- When Obama took office in 2009, the respective men labor participation rates were 75.3% for male adults over 20 years of age and 72.4% for males over 16 years of age.
- In other words, despite six and a half years of the Obama Presidency and its economic policies, American men are NOT working at record rates, over five years after the last recession.
- And American female workers have not done any better under Obama's economic policies with the latest labor participation rate for women over 16 years of age hitting 56.4% in September, a 27 year low, vs. 59.4% when Obama took office.
- For American women aged over 20 years of age, the labor participation rate was a little better last month at 57.9%, a 24 year low, and down from 60.9% when Obama took office.
- Student loan debt, and the economic fiasco potential it represents, has skyrocketed.
- The number of Americans on food stamps/assistance is up about 50% since AFTER the recession ended.
- Federal debt has skyrocketed after four years of Obama’s trillion dollars annual deficits.
- The nation’s money supply has exploded in the past seven years with no underlying economic wealth to justify it.
- Health insurance costs continue to escalate despite Obama’s promise it would go down upwards of $2,500 a year for American families.
- As we have hammered over the past two days, the labor participation rate is dropped significantly over the past six years AFTER the recession ended.
- Median family income has continued to crater years AFTER the recession ended.
- Home ownership has dropped substantially years AFTER the recession ended.
Einstein once said that the definition of insanity is doing the same thing over and over and expecting different results. This is so applicable to this Presidential administration and the others in the Washington political class: despite the incredible economic tail winds of a massive economic stimulus, dropping energy costs, and trillions in Federal Reserve money, they still could not come up with a strategy for a robust economy.
- How about we fix our public education system so that the trillions of dollars we spend on it over the years actually produces productive and intelligent graduates?
- How about we severely reduce the huge amount of unnecessary regulations and rules that American businesses have to follow which takes away from time and energy that could be used to productively expand the economy and job opportunities?
- How about we overhaul the entire tax code so that businesses and consumers have more money to spend in the real economy rather than giving it to the black hole that is Washington D.C. where nothing productive is ever done with taxpayer wealth?
- How about we revise the tax code so that the trillions of dollars in corporate profits that are kept overseas are encouraged to be brought back for investment in this country?
- How about we dump Obama Care so that the taxes and regulations that are strangling businesses from that legislation go away?
One last set of general political class insanity tomorrow.
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