Sunday, April 3, 2016

2016 Economy Worst Since Carter Administration

In the year 2009, student loan debt stood tall at $146 billion. Today that number has grown to a staggering $945 billion. President Obama and his democrat comrades have repeatedly proclaimed that something needs to be done about. To date, they have offered no plan.
When America's 44th president was sworn in, yearly food stamp benefit expenditures hit $55 billion. Last year that number was $70 billion. The number of Food Stamp dependents has grown exponentially from 26 million to 50 million in just seven years.
On inauguration day, the National Debt accumulated by America's first 43 presidents was $11 trillion. Today it is $19 trillion and will be an outlandish $20 trillion when the next president moves into to the White House.
At the end of the Bush Administration, the Federal Reserve began printing money to stop the economic bleeding. Barack Obama came to town and cranked up the printing to $85 billion each month, every month and it continues today. This money is used to prop up the “fat cats” on Wall Street that Mr. Obama hates so much.
The Affordable Care Act was supposed to lower health care costs to the average family by $2,500 per year. Conversely, the cost for premiums had risen by over $2,500 per by 2014. In 2015, health care cost rose at an average of 20% and it will rise another 20% in 2016.
5-million Americans are unemployed today. This equates to a 62.7% job participation rate – the lowest since the Carter Administration. The true unemployment rate is in the vicinity of 17%. However, approximately 30% of the country is not working.
The median income for the average American was $55,000 per year in 2009. That number has dropped precipitously over the last seven years and today it is an abysmal $50,000 per year. 75% of jobs lost in the recession were full time. 75% of all new hires have been part time jobs.
Home ownership was 67% in 2009 and it has dropped to 63% by the end of the first quarter in 2015. The second quarter of 2015 showed the lowest rate in nearly 50 years.
If this is “forward,” backward is the new hope and change.

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