Published DateTo the editor,
It is the perfect time to consider what Barack Obama has brought to us all given he will soon be sworn in for his second term. Submitted for review to the residents of the Lakes Region and readers of The Daily Sun.
1. At Obama's 1st inauguration 13,379 million Americans were working and unemployment was 7.3 percent. Four years later 134,021 million Americans are working and unemployment is 7.8 percent.
2. In January 2009, 32.2 million people were on food stamps. There are now 47.5 million people dependent on food stamps to eat.
3. In January 2009, the nation suffered a 13.2 percent poverty rate. As 2012 ended it was 15 percent.
4. When Obama took office the Social Security trustees forecast it would go broke in 2041. The current insolvency date is 2037. Four years earlier.
5. Medicare's hospital trust fund is now predicted to be exhausted in 2024 (more likely sooner).
6. In January 2009, our national debt stood at 10.627 trillion. $34,782 for every man woman and child in America. As of Tuesday 1/15/2013 that number was 16.435 trillion or $52,139 for every American.
7 In January 2009, the public debt was equal to 40.8 percent of gross domestic product (GDP). Currently the public debt is 72.8 percent of GDP and forecast by the congressional budget office to rise to 76.1 percent by year end.
8. When Obama assumed office the median family income in America was $51,190. By 2011 that number had fallen to $50,054. It will be even less when 2012 is reported.
9. American household income has actually declined more since the recession officially ended (June 2009) than it did during the recession itself. This is a first in American history.
10. Last year, 153,000 non farm jobs were created on average per month. It will take 26 months at that rate to get back to the number of jobs we had the month the recession began in 2007. Meanwhile during this extended period 8.6 million NEW PEOPLE will have become part of the workforce for which we have not created ONE new job opening for them.
11. Last year we created 15,000 new manufacturing jobs per month. At that rate it will take 10 YEARS to return to the number of manufacturing jobs we had prior to the start of the recession.
12. Since the recession ended three and a half years ago, the economy has grown at a less than snails pace 0.4 percent. That compares to growth FOUR times that speed in the previous 10 year period. SIX TIMES that fast in the previous 20 year period and EIGHT TIMES faster going back to World War ll.
There are no two words more synonymous with what TOTAL ECONOMIC FAILURE looks like than BARACK OBAMA.
America has elected the same IDIOT TWICE as president. Absolutely amazing!