Sunday, May 1, 2016

How Is The Economy Doing

The Economy Today

It's The Economy, Stupid”

President Obama patted himself on the back over how well he handled the economy and the unemployment rate in America. He knows he is not telling the truth, but politicians politic toward whatever makes them appear best.

I actually compare our economic performance to how, historically, countries that have wrenching financial crisis perform. By that measure, we probably managed this better than any large economy on Earth in modern history.” - Barack Obama

Are You Better Off Today Than In 2009

So, how is the economy today? There is practically nothing to point to that would back his acclimation. There are more Americans not working than any time in American history – 95 million. This represents an embarrassing 62.4% workforce participation rate – the lowest since the 1970's.

The average middle class American has generally not seen an increase in income since 2008. There are more U.S. citizens holding down two jobs to make ends meet. The cost of health insurance has skyrocketed and no, you cannot keep your doctor or insurance plan.

The median income for American in 2009 was an average of $55,000 per year. That rate has precipitously fallen to $50,000 over the last seven years. In light of this fact, consumer spending and consumer confidence in the economy has fallen.

95 Million Not Working

How is the economy affecting unemployment? America's 44th President vehemently claims that he created 9 million jobs, which is true, sort of. On his watch, 9 million jobs were lost, so this is a net zero jobs created. Of the jobs lost, 75-percent were full-time jobs. Of the jobs gained, however, 75-percent were part-time jobs.

Since his inauguration, there are 7 million less women in the workplace. A war on women, perhaps. This administration has an uncanny knack of excluding non-working Americans from the category of unemployed.

If someone's unemployment benefits have been exhausted, or they have given up looking for work, or collect government benefits, they are not considered unemployed. The rate is counted at 4.9-percent, yet 30-percent of the country is not working.

How Is The Economy Affecting The GDP

The Gross Domestic Product (GDP) has never reached 3-percent under the President Obama regime. His average is 1.5% - the lowest by any president, ever, The first quarter of 2016 showed a 0.5% growth in GDP. The White House was shocked to see that it did not reach the predicted 1%.

The Reagan Administration saw quarters of 7-percent and 8-percent growth in GDP. Forecasters are predicting that the U.S. will slip back into another recession in 2016. This seems hardly possible since America never recovered from the first recession.

38% Corporate Tax

How Is The Economy Affected By Manufacturing And Taxes

Manufacturing has always been the backbone of a strong U.S. economy. The key ISM manufacturing index shows manufacturing has been plummeting it currently stands at 50% of what it once was.

American companies, especially corporations, are making far less profit than just a few years ago. The U.S. now has the highest corporate tax on planet Earth. It is no wonder that companies like Carrier Air Conditioning, Hostess, and Ford Motors have fled to Mexico.

Higher taxes and monumental regulations have handcuffed the country. A President Bernie Sanders wants you to pay for everyone's college and a 90-percent corporate tax is okay with him. Hillary Clinton is another detrimental anti-business candidate. If she is elected, America can expect the economy to get worse for four, or God help us, eight more years.

Photo by Pixabay: Public Domain, Free for commercial use. No attribution required.

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