Ive been reading some pro and con reports on the Obama administration and so I did some digging on my own to find out what is closer to the truth. The reported unemployment rate currently is down to 6.2% from a high of 10% in October 2009. Sounds good doesnt it? The problem is how the Federal government calculates the rate. If you are unemployed and your benefits run out before you find a job then you dont exist any longer. That is you are no longer counted. Now lets look at the number of people no longer in the workforce. According the the Federal government, there are 92 million people no longer in the workforce and Bloomberg states that the number of people actually participating in the workforce is at a 36 year low. Seems like a contradiction doesnt it? The press tells us that unemployment is dropping yet the workforce is shrinking. How many jobs have been created since Obama took office? How much impact a President has on job creation is up to some serious debate but the number of jobs created since Barack took office is up. The country lost 8.4 million jobs in 2007-2009 under Bush and then lost another 4.3 million during the first 13 months on Obamas administration. The problem is a large percentage of those jobs were service industry and government jobs. According the Consumer Price Index, inflation has steadily increased while wages are stagnant. Real average workers pay has declined since Barack took office. The federal debt has risen even more since our initial reports. During the four years of Obama’s first term, the debt owed to the public rose 83.5 percent. And it has continued to rise during the first weeks of his second term. As of April 15, it stood 90 percent higher than it did when Obama took office in 2009. Total federal debt — counting intergovernmental borrowings, such as the Social Security trust funds — rose by nearly 55 percent during the first term, and is now 58 percent higher than it was on Jan. 20, 2009, when Obama was first sworn in. But at least the red ink is accumulating a bit more slowly. CBO estimates the current fiscal year (which ends Sept. 30) will see a deficit of $845 billion — the first time in five years that the yearly shortfall will be below $1 trillion. That assumes that current law remains in place, including the automatic spending cuts that began to take effect March 1. Or, alternatively, that Congress implements different spending cuts of the same amount. Food Stamps - More persons have been added to the food-stamp rolls under Obama than under any single previous president. As of January, the most recent month for which the Department of Agriculture has released figures, nearly 47.8 million persons were receiving aid through the Supplemental Nutrition Assistance Program. That’s a rise of nearly 15.8 million under Obama, more than the 14.7 million that were added during Bush’s eight years in office. The total is now 49 percent higher than when Obama first took office. The average monthly benefit was $274.04 per household as of January, and the program is distributing over $6.3 billion per month in benefits.
Posted on: Sat, 02 Aug 2014 18:42:17 +0000
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