Thursday, April 28, 2016

Under Obama, The Economic Recovery Is A Mirage

Miracles of Socialism, Chapter 1,392. Venezuela runs out of money to print more money...Tweet by David Burge

Well, the GDP numbers for the last quarter are in.  Hold your breath. This is a whopping number. Here we go:  0.5%.  Considering a healthy GDP is about 3%, this number is pathetic.  This quarter is on the heels of the previous quarter that showed a GDP of about 1.4%,

But the Obama administration might just set another record before their term ends next January. This administration may go down as not having one year of 3% growth.  Allow that to sink in. In comparison, Reagan averaged 3.5%.  Even Bill Clinton averaged 3.8% with the help of a Republican Congress. Also, under Clinton, economic inequality skyrocketed (reading this Hillary?) but median wages grew (Washington Post).  G.W. Bush averaged a GDP of 2.15% and that included the beginning of the recession in his final year when the GDP tanked.

This pathetic GDP number follows yet another disturbing report from U.S. Bureau of Labor Statistics (BLS).  That summary reported 1 in 5 families in the United States has no one who works.  To put that number in perspective. That's about 20% of approximately 81M families in America.  Moreover, under Obama, those receiving food stamps has increased 45% as corporate profits increased by about 180% (reading this Hillary and Bernie?). {Fact Check}.

And if those numbers don't impress you perhaps this one will. As of this past March,  just a hair under 94M Americans remained---out of the workforce. No matter how one cuts it, that's a YUGE number.

This and more clearly shows economic recovery under the Obama administration has been nothing but a mirage.