President Obama took well deserved criticism for saying the "private sector is doing fine". No President should say such a thing when the country is several millions jobs down from where it was in 2007 before the recession hit and the unemployment rate is 8.2%. But the President is correct that there have been 27 months of consecutive job growth, and maybe Obama will get back to a net jobs created total of zero by election time if things go well. That's hardly a ringing endorsement to re-elect him (We didn't lose any more jobs !!!), but I suppose Obama has to look for any straw to grab onto, because so many economic indicators are worse off than when he took office.
I was perusing the National Black Republican Association's website today, and I found this list of 18 economic indicators regarding Obama's time in office. Be warned that the data below is from February 2012, and some of it is outdated, but the thrust of all of it is correct:
#1 Today there are 88 million working age Americans that are not employed and that are not looking for employment. That is an all-time record high.
#2 When Barack Obama was elected, the percentage of unemployed Americans that had been out of work for more than 52 weeks was less than 15%. Today, it is above 30%.
#3 There are 1.2 million fewer jobs in America today than there were when Barack Obama was inaugurated.
#4 When Barack Obama first took office, the number of "long-term unemployed workers" in the United States was approximately 2.6 million. Today, that number is sitting at 5.6 million.
#5 The average duration of unemployment in the United States is hovering close to an all-time record high.
#6 During the Obama administration, worker health insurance costs have risen by 23 percent.
#7 Since Barack Obama has been president, the average price of a gallon of gasoline in the United States has increased by 90 percent.
#8 Since Barack Obama has been president, home values in the United States have declined by another 13 percent.
#9 Under Barack Obama, new home sales in the U.S. set a brand new all-time record low in 2009, they set a brand new all-time record low again in 2010, and they set a brand new all-time record low once again during 2011.
#10 Since Barack Obama took office, the number of Americans living in poverty has risen by more than 6 million.
#11 Since Barack Obama entered the White House, the number of Americans on food stamps has increased from 32 million to 46 million.
#12 The amount of money that the federal government gives directly to Americans has increased by 32 percent since Barack Obama entered the White House.
#13 According to the U.S. Census Bureau, the percentage of Americans living in "extreme poverty" is now sitting at an all-time high.
#14 When Barack Obama first took office, an ounce of gold was going for about $850. Today an ounce of gold costs more than $1700 an ounce.
#15 Since Barack Obama became president, the size of the U.S. national debt has increased by 44 percent.
#16 During Barack Obama's first two years in office, the U.S. government added more to the U.S. national debt than the first 100 U.S. Congresses combined.
#17 During the Obama administration, the U.S. government has accumulated more debt than it did from the time that George Washington took office to the time that Bill Clinton took office.
#18 The U.S. national debt has been increasing by an average of more than 4 billion dollars per day since the beginning of the Obama administration.
When somebody asks that important question, "Are you better off than you were four years ago ?", under Obama's leadership the answer is a resounding "NO".
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