The mainstream media covered the inauguration of Barack Obama with breathless anticipation on Monday, but should we really be celebrating another four years of Obama? The truth is that the first four years of Obama were an absolute train wreck for the U.S. economy. Over the past four years, the percentage of working age Americans with a job has fallen, median household income has declined by more than $4000, poverty in the U.S. has absolutely exploded and our national debt has ballooned to ridiculous proportions. Of course all of the blame for the nightmarish performance of the economy should not go to Obama alone. Certainly much of what we are experiencing today is the direct result of decades of very foolish decisions by Congress and previous presidential administrations. And of course the Federal Reserve has more influence over the economy than anyone else does. But Barack Obama steadfastly refuses to criticize anything that the Federal Reserve has done and he even nominated Ben Bernanke for another term as Fed Chairman despite his horrific track record of failure, so at a minimum Barack Obama must be considered to be complicit in the Fed’s very foolish policies. Despite what the Obama administration tells us, the U.S. economy has been in decline for a very long time, and that decline has accelerated in many ways over the past four years. Just consider the statistics that I have compiled below. The following are 37 statistics which show how four years of Obama have wrecked the U.S. economy…
1. During Obama’s first term, the number of Americans on food stamps increased by an average of about 11,000 per day.
3. According to one calculation, the number of Americans on food stamps now exceeds the combined populations of “Alaska, Arkansas, Connecticut, Delaware, District of Columbia, Hawaii, Idaho, Iowa, Kansas, Maine, Mississippi, Montana, Nebraska, Nevada, New Hampshire, New Mexico, North Dakota, Oklahoma, Oregon, Rhode Island, South Dakota, Utah, Vermont, West Virginia, and Wyoming.”
4. The number of Americans receiving money directly from the federal government each month has grown from 94 million in the year 2000 tomore than 128 million today.
5. According to the U.S. Census Bureau, more than 146 million Americans are either “poor” or “low income” at this point.
6. The unemployment rate in the United States is exactly where it was (7.8 percent) when Barack Obama first entered the White House in January 2009.
8. 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.
9. During Obama’s first term, the number of Americans collecting federal disability insurance rose by more than 18 percent.