Quantcast

Are you feeling the effect of the Obama recovery? Really? Seriously???

TruBluTopaz 2012/06/01 03:45:43
I know my family hasn't. And I suspect numerous other families have not either. But the Obama Administration will continue wiht the drumbeat that they saved America. Nothing could be further from the truth.....

The indispensable John Merline at Investors Business Daily plots the details of "The Recovery That Wasn't" in the graphic to the right:

Employment: By this point, the average job growth in the past 10 recoveries was 6.9%. Under Obama, jobs have grown by just 1.9%, according to data from the Minneapolis Federal Reserve....



GDP growth: The Obama recovery has also performed far worse than average when it comes to GDP growth. After 11 quarters, the economy is still only 6.8% bigger than it was when the recession ended. In contrast, GDP was 16% bigger, on average, by this point in the previous 10 recoveries, the Minneapolis Fed data show...


Had the Obama recovery tracked the average GDP growth in the 10 previous recoveries, the economy would be almost $1.2 trillion bigger today.


Incomes: By the third year of the past five recoveries, real median household incomes climbed an average 2.8%, according to the Census Bureau, which only has household income data back to 1967.


Whole piece here.


You know what comes next, right?


Protestations from the Obama side that this is all just proof that recession/depression was so much worse than any of us knew that it's a goddamn great and good thing that Obama is helming the ship of state because if it had been one of those idiot Republicans like George W. Bush we wouldn't have had bailouts and a stimulus that was too small to really effect the economy - even smaller than the $150 billion tax thingamajig that Bush tried in early 2008 that was really pathetic because we now know that even Obama's $800 billion attempt was obviously too small christ it should have been two or three or even four times bigger and for god's sake can't we just prepare for the alien invasion that Paul Krugman - he won a Nobel Prize so just shut up already! - says will create enough of a multiplier effect to finally restart the economy and screw the debt because we'll have thousands of years to pay that down, especially now that thank Zardoz we've got universal health care that will be awesome if the d-bags on the SCOTUS don't FUBAR it and Dodd-Frank means there won't be any fraud or dumb lending!


And of course the Republicans will counter with: See, none of this would have happened if we'd only followed George W. Bush's disastrous big-government spending ways and expansion of major entitlements and a defense buildup because sharia law is taking over whole hamlets in Oklahoma and our plan to increase annual spending over the next decade by just $1 trillion is so much better than the Prez's to spend $2 trillion more, especially after increasing federal outlays by 60 percent or more over the previous decade when we controlled things is exactly the tonic the economy needs right now! But seriously folks, what do you expect when you let gay marriage happen? No economy can recover from that!


Exit questions: Do you think the weak recovery primarily stems from the severity of the recession that ended in 2009 or the government's attempts to ameliorate the recession? Does it worry you more that Obama might be re-elected alongside a GOP Congress (both House and Senate) or that Romney (who supported TARP, auto bailouts, and stimulus) will be elected with a GOP Congress?

Read More: http://reason.com/blog/2012/05/30/is-the-obama-rec...

You!
Add Photos & Videos

Top Opinion

  • Mrs. V 2012/06/01 04:03:51 (edited)
    Mrs. V
    +3
    No, not better off. I wake up every day feeling like I am at war within my own country. Evil on every side. The spiritual forces of wickedness in high places. The Obama admin with all his Socialist and Communist CZARS is really creepy.

Sort By
  • Most Raves
  • Least Raves
  • Oldest
  • Newest
Opinions

  • klausd11 2012/06/04 03:55:00
    klausd11
    +1
    What recovery? Only smoke and mirrors - still moving in the wrong direction, but faster!
  • Adam 2012/06/03 11:16:07
    Adam
    I'm not voting for either, so don't blame me.
  • mach 2012/06/01 17:19:21 (edited)
    mach
    Yes I am! For one, I'm still working. Being closer to retirement, I'm certain my SS and Medicare will be there. If for some reason I lose my job before retirement, the time tested safety nets like unemployment insurance will tide me over. And should I fall ill, the new AHCA will insure medical care. Nice feeling to know that as the economy recovers at a more stable pace, politicians like Paul Ryan are being restrained from taking all that away.



    Because we can get through this without adopting an "instant gratification" RAPE of benefits we've worked hard for all of our lives, it instills confidence and security in my perception of America. THAT!!... is the positive effect I'm getting from the Obama recovery!
  • TruBluT... mach 2012/06/02 00:58:37
    TruBluTopaz
    +1
    Here's the stark reality. When social security was implemented eight workers paid in for every retiree. Now that is down to barely two worker for every retiree. In addition, the young people aren't getting the kind of benefits that many older workers enjoyed in their early years. Higher college loans, higher costs of living are causing many twenty somethings to defer things like marriage, home purchases and families which further reduces the number of workers paying it. While AARP likes to make the reduction of SS like some sort of rape, the reality is that many of those who retired with lucrative pensions do not need the additional few hundred a month. What you are advocating is a situation where the poorest recipients will continue to barely get by while you use what you get for surplus. That will bankrupt the system. And I am not young, I'm 56. I don't think Social Security will be there for me when I retire because of seniors who are gouging the system right now. And if you want to find someone to blame, look no further than LBJ who wrote IOU's to Social Security to fund his Great Society programs.
  • klausd11 TruBluT... 2012/06/04 03:54:17
    klausd11
    +1
    Right on! And I'm about in the same boat too....
  • DrDelos 2012/06/01 12:30:14
  • DrDelos DrDelos 2012/06/01 13:03:16
    DrDelos
    +1
    Commerce Department data show that four years after the recession began, real gross domestic product per person is down $1,112, while 5.8 million fewer Americans are working than when the recession started.

    Never before in postwar America has either real per capita GDP or employment still been lower four years after a recession began. If in this "recovery" our economy had grown and generated jobs at the average rate achieved following the 10 previous postwar recessions, GDP per person would be $4,528 higher and 13.7 million more Americans would be working today.
  • luvguins 2012/06/01 05:39:33
    luvguins
    Romney with a GOP Congress would be a disaster and have us in a depression. The GOP has become extreme right Fascist corporatists wanting to rob the middle class more to give to the rich.

    The stock market has come back up, gas and oil prices are going down, and consumer confidence is up since April.
  • TruBluT... luvguins 2012/06/01 16:11:00
    TruBluTopaz
    +1
    News to you-we will be in a Depression if the president and Democrats don't make spending cuts. They are stonewalling until they are lame ducks and intend to stick President Romney with a poison pill budget. Remember-these are the same liberal clowns who haven't passed a budget in over three years.
  • luvguins TruBluT... 2012/06/01 16:39:47 (edited)
    luvguins
    The budget control act doesn't require a budget untill next year. Romney won't be stuck with anything as he won't be president strictly because of Ryans budget which he thinks is "marvelous". Nothing good will happen until the teacons of NO are kicked out of Congress. The lame duck will be no duck. Eisenhower said it best.
    Dwight Eisenhour
  • Simmering Frog 2012/06/01 04:16:48
    Simmering Frog
    +2
    What recovery? Fill me in. Perhaps I missed the news.
  • luvguins Simmeri... 2012/06/01 16:45:56
    luvguins
    Consumers create jobs, not presidents. Marginalize the middle class more the Romney way, and more jobs will be lost.
  • Simmeri... luvguins 2012/06/02 00:11:40
    Simmering Frog
    Romney knows how to run a successful business. Obama knows how to gather people together to cut the grass.
  • luvguins Simmeri... 2012/06/02 00:16:44
    luvguins
    Romney knows nothing. Another flawed GOP candidate like McCain, and just as lame. Romney face
  • Simmeri... luvguins 2012/06/02 02:04:08
    Simmering Frog
    You had me until the last line. Lol!
  • luvguins Simmeri... 2012/06/02 02:27:07
    luvguins
    Definitely of, by, and for the 1%, froggy.
  • Simmeri... luvguins 2012/06/02 04:18:21
    Simmering Frog
    +1
    Sorry, but I'm not voting for Obama because of the 49% that are mooching off the government in one form or another.
  • luvguins Simmeri... 2012/06/02 04:34:17
    luvguins
    Perhaps the animated robot, Mitt, would increase the minimum wage and make them taxpayers? Nah, it is more important for billionaires to get a tax break.
  • TruBluT... luvguins 2012/06/02 16:33:07
    TruBluTopaz
    +2
    So how come you are so for Obama? Have you looked at who is supporting him? All those Hollywood types are hardly down and out? And what about the more than half of hiscontributions listed as "large individual" which includes thos $38K a plate dinners? Do you really think regular folks are buying those? Obama's campaign isn't about the 1%-It is about the consolidation of power in the hands of a few rich guys who run Obama.
    http://www.opensecrets.org/pr...
  • luvguins TruBluT... 2012/06/02 16:36:19
    luvguins
    Romney is doing the same, doofus. He is having another big fundraiser today. More corporations support him than Obama, and some Hollywood types too.
  • Chokmah luvguins 2012/06/04 15:51:49
    Chokmah
    +1
    But still ten times smarter and more honest than Ovomit.
  • luvguins Chokmah 2012/06/04 16:17:14
    luvguins
    Honest? Romney hasn't said an honest thing yet. He is a pathological liar.
  • Chokmah luvguins 2012/06/04 20:28:36
    Chokmah
    +1
    LOL... and Obama isn't?

    Obama lies
  • luvguins Chokmah 2012/06/04 20:42:28
    luvguins
    All make promises they can't keep. Romney thinks he can stop things on his first day, without Congress. Too funny.
    Romney liar
    Romney liar
  • Chokmah luvguins 2012/06/05 01:34:36
  • luvguins Chokmah 2012/06/05 02:33:01
  • Chokmah luvguins 2012/06/05 04:06:48
  • luvguins Chokmah 2012/06/05 04:14:46
  • Chokmah luvguins 2012/06/05 04:26:25
  • luvguins Chokmah 2012/06/05 04:41:33
  • Chokmah luvguins 2012/06/06 13:24:13 (edited)
  • luvguins Chokmah 2012/06/06 14:03:19
  • Chokmah luvguins 2012/06/06 19:44:47
  • luvguins Chokmah 2012/06/06 20:34:34
  • Chokmah luvguins 2012/06/06 21:13:30
  • luvguins Chokmah 2012/06/06 21:20:00
  • Chokmah luvguins 2012/06/07 14:54:44
  • luvguins Chokmah 2012/06/07 15:23:19
  • Mrs. V 2012/06/01 04:03:51 (edited)
    Mrs. V
    +3
    No, not better off. I wake up every day feeling like I am at war within my own country. Evil on every side. The spiritual forces of wickedness in high places. The Obama admin with all his Socialist and Communist CZARS is really creepy.
  • BigFig#9 2012/06/01 03:54:40
    BigFig#9
    I'd also note (in addition to my other remarks) that the value of my portfolio (according to my handy little tools) has increased by $425,000 (over 80%) since it's 2009 low-point...

News & Politics

2013/05/25 15:18:25

Hot Questions on SodaHead
More Hot Questions

More Community More Originals