Remember, always believe the numbers before you believe our politicians, numbers do not lie but politicians do.
- There are over 45 million Americans receiving food assistance from the Federal government every month which is about 50% higher than the number that were receiving food assistance prior to the recession despite the recession having ended over six years ago.
- The true measure of unemployment, the government’s U6 measure, shows almost 10% of Americans are unemployed, a recession-like level.
- Over 14 million Americans who are unemployed or underemployed would like a full time job but cannot find one.
- Over 60% of Americans when polled said they have less than $1,000 in savings and a large number of them say they have NO savings.
- Wage and income growth has been very small to non-existent depending on how and when you measure it over the Obama administration.
- A great many of the new jobs that have been created during the Obama administration have been in lower paying industries, e.g. retail and food services, partially accounting for the low/no growth in wages.
- The labor participation rate is as low as it has been since the stagflation years of the Carter administration with over 94 million American adults not in the workforce today.
- The Obama administration launched a massive (and failed) $800 billion economic stimulus program.
- Record low energy costs should have spurred growth and spending in both the business and consumer markets.
- The Fed pumped trillions of paper dollars into the economy.
- The top line reality is that Obama has presided over the worst economic recovery numbers in the past 8 decades.
- From 2012 through 2014, the U.S. economy grew at an annual rate of about 2% according to recently revised numbers from Obama’s Commerce Department.
- That estimate is down .3% from previous Commerce Department estimates.
- Since the recovery started in June of 2009, the average annual economic growth has been 2.2%.
- That is more than .5% worse than the next weakest economic recovery since the early 1930s.
- Over the first five years of Obama’s presidency, the U.S. economy expanded slower than during any five-year period since just after the end of World War II, averaging less than 1.3% per year.
- According to work done by Peter Ferrera writing in Forbes, the U.S. economy has not come close to reaching its long term average annual growth rate of 3.3% during the Obama years, with the best one year growth rate getting only up to 2.8%.
- Total GDP growth in the five years after the end of the Great Recession under Obama has been 10.2%, which makes it the worst five year post recession recovery, trialing the second worst showing, George W, Bush’s recovery rate which was 15.1% and the 30% recovery rate when John Kennedy was elected.
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