Sunday, July 8, 2012

The Obama Administration's Economic Scorecard

All of us can look around & see the lack of growth in the American economy. We finally can quantify what we observe daily from US Gov't sourced data. Zero Hedge has compiled two charts to show just how bad the employment trends are & the obscene debt that the Obama administration has created to achieve nothing. Never in the recorded history of the planet has so much been spent to go nowhere effecting the biggest transfer of wealth in the history of the world. Everyone should be outraged once they understand what has befallen upon us.

Here are the facts:
  • Total Nonfarm Payrolls have decreased by -1.3 million from December 2008 (134,379K) to June 2012 (133,088); Source: St. Louis Fed
  • Full-time jobs based on the Household Survey, have decreased by 2.5 million from 117,039K to 114,573K; Source: Table A.9, BLS
  • Parti-time jobs based on the Household Survey, have increased by 1.6 million from 26,3187 to 27,894K; Source: Table A.9, BLS
  • Foodstamps recipients have increased by 14.6 million from 31.567 million to 46,187 (as of April 2012); Source: USDA
  • Disability recipients have increased by 1.3 million from 7.427 million to 8.733 million; Source: Social Security Administration
Here is the performance under the Obama administration for the past 42 months.
...that in addition to millions on foodstamps and disability, and just over a million part-time workers added, the US has little to show for the last three and a half years: as the chart below shows, over the same time period Total Public Debt to GDP has risen from 76.7% to 101.7%, a 25% increase in absolute terms. [emphasis in original]

Here's a solution based on time tested economics: sound money combined with sound economic & financial policies, lower tax rates on individuals, a simplified tax code with consumption taxes to replace the income tax. reducing the bureaucracy in Washington, and finally and foremost, free markets that are truly free from any Gov't interventions. The product of these will encourage & grow wealth for all Americans. Barack Obama must GO!

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6 comments:

BOSMAN said...

Well done LH.

If only people would educate themselves to the data that's out there, they would realize that only those who are insane or have the desire to be taken care of by the Government could ever support Obama's re-election.

leighrow said...

Great posts LIonhead. It is a shame that we do not have a media who reports this data. I guess if it has nothing to do with the kartrashians ,George clooney or glorifying Obama then it is not news worthy.

Right Wingnut said...

Great posts, LH. I've always thought you had a lot of potential with your writing. I hope you keep posting.

Lionhead said...

Thanks RW, leighrow & Bosman! I hope everyone can send these along to reach their family, friends, neighbors & liberals. If folks can just see the situation we're in now & somehow relate it to their own situation, even their own self interest. We have to educate folks with the truth, inoculate them from the spin of the MSM, motivate them to register to vote & get to the polls. I see the gravity of our situation. We may never have a second chance; there will be no substitute for Victory. On we go ;)

Machtyn said...

This past weekend has been a treasure trove of economic education on this site. I have linked to several of these articles on facebook.

Lionhead said...

Thanks Machtyn, I hope all will spread the word of these economic facts to counter the false information & narrative of the MSM.