To hear it from President Obama, and his shills (both administration and media), the economy is humming along beautifully.
He took us from the “great recession” (a term Mr. Obama tossed out and media eagerly glommed onto, despite the fact that it was no “greater” than other recessions) to the boom times we are now in.
But are we?
Well, the excellent columnist, Deroy Murdock, doesn’t think so. And here, via Mr. Murdock’s latest column, is his evidence.
Take a look and see what you think:
Last month saw the creation of 160,000 jobs, a widely panned number, and much below the 200,000-plus jobs generated in five of the last six months. Nothing about the latest employment report spells “boom.”
Meanwhile, annualized GDP growth nearly stalled in the first quarter at a meager 0.5 percent. This is down from already tepid 1.4 percent growth in the fourth quarter of 2015.
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.’
During the Obama years, the number of Americans below the poverty line is up 3.5 percent.
Real median household income: down 2.3 percent.
Americans on Food Stamps — 33 million then, 46 million now: up 39.5 percent.
Americans who own homes: down 5.6 percent.
National debt — $10.63 trillion then vs. $19.19 trillion last Wednesday: up 80.5 percent.
Meanwhile, millions of college-educated Millennials are languishing in their parents’ basements and wallowing in student debt, with limited prospects. Many of those who have found work lag their predecessors.
Does that look like a boom economy to you?
And, believe me, there’s more. Please use the link I’ve provided above and read it all.
Now the big question: Will Hillary Clinton be running on the Obama economy?
I can’t wait to find out. And, if the answer is yes, I can’t wait to find out how.
