RT @KLSouth The Utterly Failed Record of a Presidency. UpdatedFacts in one place on Obama’s Recession -> http://bit.ly/MokXfC#tcot
WordPress.com Twitter: Obama’s Recession
JUNE 19, 2012
tags: 2012, bing, Bullet points, Economy, Election 2012, false recovery, Fiscal Policy, Google, Its not Bush's fault, Jobs, labor participation, Obama, Obama to blame, Obama's economy, Obama's Recession, Obama's Record, Recession, State of the economy, summer of recovery, U.S. Economy under Obama, Unemployment,workforce, yahoo
Twitter responses for “Obama’s Recession.”
The Talking Points from the liberal left flows like this:
“But, corporate profits as a percentage of GDP are higher than ever. They’re 11%. How can Obama be destroying capitalism?
This is the highest corporate profits since World War II. A fifty year high!
If corporate profits are highest ever, how can you say the private sector is not doing well?”
Response: Part of the reason is the expansion of overseas sales, but the profit recovery is primarily coming off the backs of American workers. There is two ways to make a profit. You can either reduce costs or raise revenues. Profit equals revenue minus costs. Right? Companies have been cutting costs aggressively to the bone, amongst them labor costs, and amongst them higher unemployment.
And, record-high profits do not necessarily translate into improvements in the economy. Over 70% of the increase in profit margins directly correlates with the reduction in workers’ wages and benefits. So, of course their profits are higher — they’re workforce is below skeleton crew levels. And, companies are making record profits because they have globalized to an extent never before.
You see, capitalism is a gentleman. The miracle of the market is that it goes where it’s wanted. And, if there is one thing Washington is good at, it’s creating uncertainty. The fear of higher taxes, rogue regulations and ObamaCare are a prime example of that uncertainty. And, higher taxes and federal mandates destroy economies. When that happens, corporations flee to more benevolent economies.
Regardless, like most liberals, Mr Obama is suspicious of the profit motive. But, we are here today to talk about ’60 problems’ Obama has with his failed Keynesian economic policies. But before we do, lets watch DNC Chair Poodle Debbie Wasserman Schultz claim ownership on the economy:“We clearly are responsible.” For a longer version (2 min 40 seconds) of DWS describing the Dems “own the economy” and “the economy has turned around” click here.
The Scorecard
- Obama’s economic record in ‘one chart.’
- Obama’s job creation problem in ‘one chart.’
- Obama’s entire reelection problem in one chart.
- Obama’s ’recovery’ is the weakest of any in the world since 1970.
- Obama: Twenty-two (22) alarming facts about Obama’s economy.
- Obama: Seventy (70) facts that Obama does not want you to see.
- Obama: A list of “Accomplishments.”
Unemployment & Jobs
- Obama’s horrifying employment in two charts.
- Obama’s ”U3″ unemployment is 8.3% for July. Per BLS.
- Obama’s ”U6″ unemployment is 15% for July. Per BLS.
- Obama’s July: Unemployment rate rises in 44 states. 90% of states. Per BLS.
- Obama’s long-term unemployment, since inauguration day, has spiked 92%.
- Obama’s Ratio of civilians in the workforce vs. total population of eligible workers. Chart.
- Obama: Full-time jobs drop by 228k in July; underemployment rate rises to 15%.
- Obama generated twice as many campaign contributors as new jobs thru 2011.
- Obama has authored longest streak; 42 months of 8%+ unemployment since GreatDepression.
- Obama: If labor force participation rate equaled Jan ’09, unemployment would be 11.0%.
- Obama’s Labor Force Participation. Lowest level in 30 years… since 1981.
- Obama: People not in the labor force trend. Another chart that does not lie…
- Obama does not differentiate between F/T and P/T into ‘jobs created’ calculations. Chart.
- Obama: The chart shows the private sector is not ‘doing fine.’
- Obama: The chart shows if anyone is ‘doing fine’ its government employees.
- Obama has produced the 33 worst months (as of June) of employment in the past 25 years.
- Obama’s policies have led to 100 million working age Americans that do not have jobs.
- Obama’s %-age of unemployed for more than 52 weeks is 30%. At his inaugural; less than 15%.
- Obama: Let’s do the math. May netted 69K new jobs; June, 64K. July, 163K. We need 300K+.
- Obama’s job numbers have been revised 62 out of 63 weeks. As of July 31, make that 72 of 73.
- Obama’s past two years, 5.4 million workers have left the job market entirely.
- Obama’s College Graduates: Only 56% can find work. In 2006-07, under Bush, 90% found work.
- Obama: 95% of the jobs lost during the Obama recession were middle class jobs.
- Obama’s economic failures with “Women and the Economy” in one chart.
- Obama’s sluggish economy has disproportionately affected black workers.Unemployment 16.5%.
- Obama’s Recession has delivered a sky-high 11% unemployment to Hispanics & Latino’s.
- Obama’s June unemployment rate for ‘under 30′ adults 12.1%. 1 of 2 are un-or-under employed.
Debt & Deficit
- Obama’s National Debt exceeds Bush.
- Obama owns the ‘largest four deficits’ in history.
- Obama has increased our federal debt 49% since inauguration.
- Obama’s unprecedented budget deficits in one picture.
- Obama is the biggest government spender in world history, according to Forbes.
- Obama: US ‘indebtedness’ to foreign interest has grown 72.3% since inauguration: US Treasury.
- Obama’s US Federal Reserve: the top owners of U.S. debt in the world; $1.667 Trillion.
- Obama has increased debt more than all Presidents from Washington thru Bush I combined.
- Obama’s argument he produced ‘slowest spending in decades’ is shot down. Chart.
- Obama’s bogus claim “federal spending has risen at lowest pace in 60 years” eviscerated.Chart.
- Obama’s runaway spending, not inadequate tax revenue, is source for future deficits.
- Obama’s total federal spending by presidential term. Historical charts. Reagan to Obama.
- Obama: 17 National Debt statistics showing our debt is exploding at exponential rate.
- Obama’s national debt depicted in a road trip in this creative video. Our nat’l debt is$15.95T.
- Obama’s real federal deficit in 2011 dwarfs official tally. Surprise! Its $5 Trillion not $1 Trillion.
- Obama pledges to cut the deficit in half by end of first term. This doesn’t even pass the giggle test.
- Obama’s five biggest failures from his Stimulus Law.
Overall Economy
- Obama: An astounding 70% of retailers missed their June sales targets, worst since Nov. 2009.
- Obama’s Recession has lost 129,000 Millionaires in 2011. Per CNBC.
- Obama’s fuel prices have skyrocketed. A gallon of gasoline has spiked 96%. Inauguration = $1.83.
- Obama Green Jobs Cost $5 Million Each. Obama promised 5M “green” jobs. He’s 4,996,455 short.
- Obama’s policies are oppressing small business. Its not sales, its taxes and regulation. The chart.
- Obama: Consumer Confidence in U.S. declines to a six-month low in July.
- ObamaCare feared by CEO’s & Business Leaders; CNBC’s Jim Cramer, no Republican, explains.
- Obama supporter Cramer on CNBC: “Business Leaders disdain for Obama is off the charts.” Video.
- Obama: An amazing 23 manufacturing facilities permanently shut down every single day in 2010.
- Obama’s Foreclosure tide has destroyed $7 Trillion in Household wealth.
- Obama policies has decreased real household medium income $4300. Per Bloomberg.
- Obama’s tax the rich: CBO report confirms rich already pay their “Fair Share.” The chart.
- Obama’s FY 2013 budget includes about $1.5 trillion in tax hikes. The chart.
- Obama’s stealth taxes are hurting business. USA has highest Corporate tax rates in the world.
- Obama: the poverty rate for children living in the US is a whopping 22%.
- Obama the Food Stamp President; 32M to 46M. One out of every 7 people you pass on a street.
- Obama’s recession: 48% of all Americans considered either “low income” or living in poverty.
- Obama’s economic policies has produced a 46 year-high poverty rate; 15.7%; highest since 1960s.
- Obama: workers on Disability sets record in July; 8,753,935: exceeds population of 39 states.
- Obamacare taxes now estimated to cost $1 trillion over 10 years. Per CBO.
- Obamacare will leave 30 million uninsured. Per CBO.
- Obama’s Broken Record, Broken Promises; “Don’t read too much into”…lead to very badpolling.
Despite all this, DNC Chair Rep. Debbie Wasserman Schultz on “Face the Nation” (CBS): Says that the economy is turning around despite the terrible Q2 GDP number of 1.5%. (July 29, 2012).
To read more about Obama’s Great Recession in further detail and explanation, go here.
