This is Part 3 in a multi-part blog series devoted to analyzing Obama’s presidency as a whole. Part 1 took a close look at Crime under the Obama administration. Part 2 is a discussion on Immigration. Part 3 is all about the Economy.
- The unemployment rate is at 5%, which is 2.8% less than when he took office.
- The number of long-term unemployed (those who have been looking for work 27 weeks or longer) has dropped by 614,000.
- The labor force participation rate (the portion of the population that is either employed or currently looking for work) is 3.1% lower than when Obama took office; however, that decline is not really Obama’s fault since so many baby boomers reached retirement age during Obama’s presidency.
- The number of non-farm jobs have increased by over 9 million since Obama took office.
…real unemployment, if you include those people who have given up looking for work and the millions of others who are working part-time 20, 25 hours a week when they want to work full-time, when you put all of that together, real unemployment is 10.5 percent (Washington Times).
The uneven recovery has swelled the ranks of long-term unemployed and reduced the number of people working or looking for work, further boosting demand. Even for those with jobs, pay may be lower than in the past: In real dollars, SNAP [Supplemental Nutrition Assistance Program] recipients in 2014 had net incomes of $335 a month, the lowest since at least 1989.
Sadly – and it pains me to say this – over the last decade, black folk, in the era of Obama, have lost ground in every major economic category.
Setting aside the issue of unemployment, let’s look at the economy from a more macro view. Here again, the Obama administration misleads the American public. In it’s article Obama Oversells U.S. Economy, written just 6 months after its article on Obama’s Numbers, Factcheck.org shows how dishonest Obama is with the American public.
Obama is the only U.S. chief executive in history not to preside over even a single year with 3 percent GDP growth, as the Institute for Policy Innovation’s Tom Giovanetti observes: ‘From 1790 to 2000, U.S. real GDP growth averaged 3.79 percent,’ entrepreneur Louis Woodhill explained at RealClearMarkets. He expects final figures to show that ‘2015 will have been the tenth year in a row that real GDP growth came in at under 3.0 percent.’ (National Review)
However, in Obama’s last State of the Union address, he said, “Anyone claiming that America’s economy is declining is peddling fiction.” Perhaps he is spending so much time on the golf course, he has become completely out of touch with reality. Or he knows that a lot of Americans will just take what he spoon feeds them as gospel so he just keeps shoveling crap down their throats. Unless you’ve been living in a Colorado pot dispensary, no one is that out of touch with reality. So that means Obama knowingly lies and spins tales confident that the liberal media and Joe Q. Public won’t do the research and uncover the truth.
Because of the terrible economic policies of the Bush administration, President Obama was left with the worst financial crisis since the Great Depression, and people fell back into poverty because they lost jobs, they lost homes, they lost opportunities, and hope. (Politifact)