Potentially Devastating News on the Obama Economy~

DO YOU REMEMBER JANUARY 3, 2007? This can be a real eye opener.



This tells the storyof why Bush looked so bad at the end of his term.
Don’t just skim over this. It’s not very long. Read it slowly and let it sink in. If in doubt, check it out!

The day the Democrats took over was not January 22, 2009. It was actually January 3,2007. The Democrats took over the House of Representatives and the Senate at the very start of the 110th Congress. The Democrat Party controlled a majority in both chambers for the first time since the end of the 103rd Congress in 1995.


For those who are listening to the liberals propagating the fallacy that everything is “Bush's fault,” think about this:
January 3rd, 2007, was the day the Democrats took over the Senate and the Congress.
At the time:
The DOW Jones closed at 12,621.77
The GDP for the previous quarter was 3.5%
The unemployment rate was 4.6%
George Bush's economic policies SET A RECORD of 52 CONSECUTIVE MONTHS of JOB GROWTH
Remember the day...

January 3rd, 2007, was the day that Barney Frank took over the House Financial Services Committee and Chris Dodd took over the Senate Banking Committee.
The economic meltdown that happened 15 months later was in what part of the economy?
BANKING AND FINANCIAL SERVICES!

Congress added to this CRISIS by (among MANY other things) dumping 5-6 TRILLION dollars of toxic loans on the economy from YOUR Fannie Mae and Freddie Mac FIASCOES!
Bush asked Congress 17 TIMES to stop Fannie & Freddie - starting in 2001 –because it was financially risky for the US economy.

And who took the THIRD highest pay-off from Fannie Mae AND Freddie Mac? OBAMA!
And who fought against reform of Fannie and Freddie? OBAMA and the Democrat Congress.

So when someone tries to blame Bush,
REMEMBER JANUARY 3rd, 2007.... THE DAY THE DEMOCRATS TOOK OVER!

Budgets do not come from the White House. They come from Congress, and the party that controlled Congress since January 2007 is the Democrat Party.Furthermore, the Democrats controlled the budget process for 2008 & 2009 as well as 2010 & 2011.
In that first year, they had to contend with George Bush, which caused them to compromise on spending, when Bush somewhat belatedly got tough on spending increases.
For 2009 though, Nancy Pelosi & Harry Reid bypassed George Bush entirely, passing continuing resolutions to keep government running until Barack Obama could take office. At that time, they passed a massive omnibus spending bill to complete the 2009 budgets.
And where was Barack Obama during this time? He was a member of that very Congress that passed all of these massive spending bills, and he signed the omnibus bill as President to complete 2009.

If the Democrats inherited any deficit, it was the 2007 deficit, the last of the Republican budgets. That deficit was the lowest in five years, and the fourth straight decline in deficit spending. After that, Democrats in Congress took control of spending, and that includes Barack Obama, who voted for the budgets.
If Obama inherited anything, he inherited it from himself.

In a nutshell, what Obama is saying is I inherited a deficit that I voted for and then I approved expanding that deficit four-fold since January 20, 2009.

January 3, 2007 was the day that Democrats took control of both houses of Congress. Let's take a factual look at what they inherited.

The DOW Jones closed at 12,621.77

The unemployment rate was 4.6%

The GDP for the previous quarter was 3.5%

The economy had just set a record of 52 straight months of job creation

26 million Americans were on food stamps

47 banks were on the FDIC problem list

The Social Security program took in the neighborhood of 100 billion more than it paid out

The national debt was approaching 9 trillion dollars

Barney Frank took over the House Financial Services Committee and Chris Dodd took over the Senate Banking Committee

Obama became a Senator from Illinois

Bush was on record requesting restraint on Freddie Mac and Fannie Mae 17 times

Since then, it was Freddie Mac and Fannie Mae that dumped trillions of dollars of toxic assets on taxpayers. It was Obama who got the third highest pay-out from Fannie Mae and Freddie Mac. It was the Democratic Congress that defended them along the way.

So since it was the Democrats that were really driving the car, I think they get the DUI even though they insisted Bush was driving. I think the evidence speaks for itself.

WE ALL KNOW THE REST OF THE STORY!


What Obama Gve us
The following are 18 statistics that prove that the economy has not
improved since Barack Obama became the president of the United
States....
#1 Today there are 88
million working age Americans that are not employed and that are
not looking for employment. That is an all-time record high.

#2 When Barack Obama was elected, the percentage of
unemployed Americans that had been out of work for more than 52 weeks
was less than 15%. Today, it is above
30%.

#3 There are 1.2
million fewer jobs in America today than there were when Barack
Obama was inaugurated.

#4 When Barack Obama first took office, the number
of "long-term unemployed workers" in the United States was approximately
2.6 million. Today, that number is sitting at 5.6 million.

#5 The average duration of unemployment in the
United States is hovering close to an all-time record high.

#6 During the Obama administration, worker health
insurance costs have risen by
23 percent.

#7 Since Barack Obama has been president, the
average price of a gallon of gasoline in the United States has increased
by 90
percent.

#8 Since Barack Obama has been president, home
values in the United States have declined by another 13
percent.

#9 Under Barack Obama, new home sales in the U.S.
set a brand new all-time record low in 2009, they set a brand new
all-time record low again in 2010, and they set a brand new all-time record low once again during
2011.

#10 Since Barack Obama took office, the number of
Americans living in poverty has risen by more
than 6 million.

#11 Since Barack Obama entered the White House, the
number of Americans on food stamps has increased from 32 million to46 million.

#12 The amount of money that the federal government
gives directly to Americans has increased by 32 percent since Barack Obama entered the
White House.

#13 According to the U.S. Census Bureau, the
percentage of Americans living in "extreme poverty" is now sitting at an all-time high.

#14 When Barack Obama first took office, an ounce of
gold was going for about $850. Today an ounce of gold costs more than
$1700 an ounce.

#15 Since Barack Obama became president, the size of
the U.S. national debt has increased by
44 percent.

#16 During Barack Obama's first two years in office,
the U.S. government added more to the U.S. national debt than the first 100
U.S. Congresses combined.

#17 During the Obama administration, the U.S.
government has accumulated more debt than it did from the time that
George Washington took office to the time that Bill
Clinton took office.

#18 The U.S. national debt has been increasing by an
average ofmore than 4 billion dollars
per day since the beginning of the Obama administration.

Oh, but Barack Obama is promising that things will be much better
very soon. Barack Obama is pledging that 2
million more jobs will be added to the economy in 2012.

Do you believe him?

Congress certainly seems to think that things will be getting
better. Congress has reduced the maximum amount of time that the
unemployed can receive unemployment benefits to 73
weeks. That change will go into effect later this year.

But there are still millions of very talented Americans that cannot
find work after years of looking.

So what are they supposed to do?

A recent Business
Insider article featured the story of Helen Hatat, a woman from
southern California that has been unemployed since 2009....


She lost her job in public relationships in 2009 after more than
20 years of working in the entertainment industry, the Southern
California resident said.

"When you don't have a job, you don't find a job, and
when you don't have a job, you don't find a home," she said.

At first she tried moving into a homeless shelter, but left
because they treated her "like garbage." Eventually she found a friend
she could stay with, but this arrangement won't last forever.

"I've found you lose most of your friends, you know. If
you have money people love you. If you don't have any money people hate
you. They treat you like you are contagious."


As government finances get tight, things are going to get really
tough for women like her.

When evaluating the health of the American economy, the key is not to
focus on the short-term economic numbers. Sometimes they go up and
sometimes they do down.

Instead, the key is to look at the long-term balance sheet numbers.
When you do that, it quickly becomes apparent how
appalling our economic decline has been.

The size of federal government debt is
exploding, state and local governments all over the country are
drowning in debt, our collective national wealth is decreasing and our
ability to produce new wealth is also being reduced as our economic
infrastructure is systematically gutted.

Of course all of the blame should not go to Obama. The truth is
that the
Federal Reserve has much more power over the economy than Obama
does. But the American people are constantly told that the Federal
Reserve is "not political" and that we should not criticize the Fed.

So it is kind of ridiculous that presidents are judged by the
performance of the economy. Yes, Bush, Clinton, Bush and Obama have all
greatly contributed to the mess that we are in, but they are not solely
responsible for it.

In the end, however, the outcome of the next presidential election
will probably be very heavily influenced by how the U.S. economy
performs during the rest of 2012.

Sadly, as our economy declines it is bringing out the worst in many
Americans. For example, "sugar daddy" websites are absolutely exploding
in popularity. Young women that are hungry for cash are selling their
"services" to sick older men who are willing to finance the lifestyles
of these desperate young women in exchange for "companionship".

The following comes from a recent article in
The Independent....


In America's booming online dating
market, few sectors are hotter than so-called "sugar daddy" sites, which
help rich men to make "arrangements" with attractive and financially
needy younger women. Between them, these specialist sites now account
for 10 percent of the entire industry. That's no small beans, given that
in the US the online dating business now generates profits estimated at
$700m ($442m) per year and, according to the polling firm GlobeSpan,
has helped just over one in five Americans to find their life partner.


As the economy gets even worse, millions upon millions of Americans
are going to become extremely desperate and will do things for money
that they never dreamed that they would do.

That is a very frightening thing.

America is changing, and not for the better.





Environmentalist

Back in November, at the time of the original Keystone XL pipeline decision, environmental groups threatened to pull their backing for Obama if he approved the pipeline. Michael Brune, executive director of America’s largest environmental group, the Sierra Club, is on record as saying that the President’s decision on Keystone would have “a very big impact” on how they funnel their resources—with the obvious implication being that they would not support the President if he didn’t do their bidding.
Other environmental groups such as the Natural Resources Defense Council (NRDC) and the Environmental Defense Fund took a different tack but with the same goal. A press release from the Rainforest Action Network promised the President that if he denied Keystone, he would see a “surge of enthusiasm from the green base that supported you so strongly in the last election.”
Environmental groups clearly understand they have the ability to influence the President’s decisions based on their claims to support—or not support—his bid for a second term. So far, they must be pleased with his administration’s efforts. On Wednesday, April 18, leading environmental groups came out with their official endorsement of President Obama—“the earliest” the groups “have ever endorsed in a presidential election cycle.” According to The Hill, “The groups are planning a mix of advertising and on-the-ground work on Obama’s behalf.” However, Glenn Hurowitz, a senior fellow at the Center for International Policy, thinks the groups should have waited longer before endorsing the President. He believes the early endorsement removes the “greens’ leverage.”

Most pundits agree that the 2012 presidential election will be a hard fought, close race. In order to win, President Obama needs the four million votes from “greens” the groups represent—and they do not want increased domestic resource extraction. According to BusinessWeek, funding from environmental groups is currently less than 50% of what it was through the same period in the 2008 campaign—one of the reasons cited: “renewing offshore drilling in the Gulf of Mexico.”
Though receiving little press, the Obama administration is working hard to convince the “greens” that he is one of them.
very large part of the U.S. population still believes the drivel of Obama and
they want to believe the economy is getting better so they are buying the crap the
mainstream media is feeding them. But IS the U.S. economy really improving as
Obama wants us to believe? The truth is NO it is not. The rate of employment
among working Americans is exactly where it was when Bush left office three
years ago and in reality household incomes, at least not those in Unions, have
actually gone down while Obama has been president. Home ownership levels and
home prices still are falling. Meanwhile, food, gasoline, and utilities
continue to become even more expensive. The percentage of Americans that have
become totally dependent on the government is at an all-time high and the U.S.
national debt has risen by more than 5 trillion dollars under Obama and STILL
he wants to raise the national debt again. We simply have not seen this type of
economic recovery since World War II.

Now
I don’t know the first thing about economics but I know when something is wrong
when I see it. The things about the U.S. economy you are about to read are not
talked about much by the mainstream media. They want you to believe that things
are going in a direction Obama says things are headed.

Lying
to the American people the way Obama has been doing is not going to help them. It’s
like you’re speeding in a car heading for cliff, you don’t need anyone telling
you that you will be fine, instead you want someone to HIT THOSES BRAKES.

The
cold, hard fact of the matter is, the U.S. economy is worse now than 4 or 5
years ago. We never came close to recovering from the last recession and are
looking at still another very soon. Now, below are 25 facts about the U.S.
economy Obama does not want you to know….

(1)
The number of Americans owning homes is dropping
rapidly. According to Gallup, the current level of ownership in America is the
lowest Gallup has ever measured. www.gallup.com/poll/154124/U....
(2)
Prices of homes have fallen like a rock. They have fallen
for 6 months straight and are down a total of 35% from the peak of the housing
bubble. The last time home prices were this low was back the Bush years http://finance.yahoo.com/news...
or http://money.cnn.com/2012/04/...
(3)
Last year, 53% of all college grads under 25 were
either unemployed or underemployed. http://theeconomiccollapseblo...
or http://theeconomiccollapseblo...

(4)
In 2007, 10% of all unemployed Americans had been
out of work for 52 weeks or longer. Today, that number is more than 30% http://www.financialarmageddo...

(5)
When Obama became president, the number of in America
was 2.6 million. As of the date of this blog, it’s at 5.3 million. http://www.bls.gov/news.relea...

(6)
The average unemployment in America is 3 times as
long as it was back in the year 2000 after the Clinton years. http://research.stlouisfed.or...

(7)
Although the mainstream media wants us to believe,
the truth being is the percentage of working age Americans employed is not
increasing. In March 2010, 58.5% of all working Americans were employed. In
March 2011, 58.5% of all working Americans were employed. In March 2012, 58.5%
of all working Americans were employed. So, can someone please tell me how Obama
can EVEN claim the employment situation in America is getting better? The
employment rate is still standing exactly where it was when the last recession
was supposed to have ended. http://data.bls.gov/timeserie...

(8)
In 1950, more than 80% of all men in the U. S. had
jobs. Today, fewer than 65% of all men in America have jobs. http://research.stlouisfed.or...

(9)
In 1962, 28% of all jobs in America were
manufacturing jobs. Last year, 2011, only 9% of all jobs in America were
manufacturing jobs, all others have been outsourced or have moved to avoid
paying the higher taxes. http://finance.yahoo.com/news...

(10)
Now why am I not surprised to know that in some
areas of Detroit, Michigan it is possible to buy a 3 bedroom home for less than
a $1,000 but the problem is it will cost you thousands of dollars to make them
habitable. http://www.dailymail.co.uk/ne...

(11)
According to a recent survey, about 1/3 of all
Americans aren’t paying their bills on time at this point. http://heraldnews.suntimes.co...

(12)
Since Obama came to the White House, the price of
gas has risen over 100%. I have a receipt from BP dated 10/15/2008 where I paid
$1.96 a gallon and as of this past Sunday I paid $3.71 a gallon. You do the
math. http://www.republican.senate....

(13)
The student loan debt continues to rise at an
extremely fast pace. I just found student loans in America have passed the $1trillon
mark. http://www.consumerfinance.go...

(14)
Did you know that 1 out of every 4 jobs in America
pays $10 an hour or less. http://www.mybudget360.com/lo...

(15)
Household incomes all over America continue to
fall. After adjusting for inflation, median household income in America declined
7.8% since December 2007. http://economy.money.cnn.com/...

(16)
Over the past 40 plus years, the people dependency on
the government has soared in America. The following is described to how the growth
of social welfare benefits in one recent article… In 1960, social welfare
benefits made up about 10% of all salaries and wages. In 2000, welfare benefits
made up about 21% of all salaries and wages. As of 2012 the welfare benefits
make up about 35% of all salaries and wages. http://www.cnbc.com/id/41969508 or
(17)
In November 2008, 30.8 million Americans were on
food stamps. Today, over 46 million Americans are on food stamps. http://www.fns.usda.gov/pd/34...

(18)
Right now, over 25% of American children are on
food stamps. http://endoftheamericandream....

(19)
According to the 2010 U.S. Census Bureau, today 49 percent of all Americans live in a
home that receives some form of benefits from the federal government. http://news.investors.com/art...

(20)
Over the next 75 years, it is said that Obamacare’s
Medicare is facing unfunded liabilities of more than $38 trillion dollars. That
comes to $328,404 for each and every household in America. http://cnsnews.com/news/artic...

(21)
During the first quarter of 2012, America’s debt
rose by $359.1 billion dollars. U.S. GDP only rose by $142.4 billion dollars. http://www.zerohedge.com/news...

(22)
At this point, the national debt is rising by more
than $2 million dollars every single minute. http://endoftheamericandream....

(23)
The national debt has risen by more than $5
trillion dollars since Obama first took office. In just a little over 3 years
Obama has added more to the national debt than the first 41 presidents
combined. I have often said that Obama spent in 3 years what took Bush 8 years
but I guess according to Obamanomics More is less if you are a Liberal and Less
is non-existent if you are a Conservative. http://www.treasurydirect.gov...

(24)
The Federal Reserve bought up approximately 61% of
all government debt issued by the U.S. Treasury Department during 2011. http://www.moneynews.com/Head...

(25)
The Federal Reserve steadily destroys the value of
the U.S. dollar. Since 1970, the U.S. dollar has lost more than 83% of its
value. http://theeconomiccollapseblo...

Communities
all over America are feeling that something has changed. Businesses around for
generations are shutting their doors and there’s more fear in the air. I read
an article from a guy named Yamarone who says …”You have to listen to what
the small businesses are telling you and right now they are telling you, ‘Hey,
I’m the head of a 3rd or 4th generation, 75 or 100 year old business, and I’ve
got to shut the doors’ or ‘I’ve got to let people go. And if I’m hiring anybody
back, it’s only on a temporary basis.’ Sometimes they do this through a hiring
firm so that they can sidestep paying unemployment benefit insurance. So that’s
what’s really going on at the grassroots level of the economy. Very, very,
grossly different from what you’re seeing in some of these numbers coming out
in earnings releases.”

All
over the place, millions of Americans are desperately looking for work. They
have been told by Obama and his crew “the recession is over”, but they are finding
it incredibly difficult to find anyone that will hire them. Oh, there is work
out there flipping burgers or waiting on tables in restaurants that are
frequented by those already employed but the tips are usually non-existent or
are like 1% of the check.

In
the mean time Obama and his family continue to live the high on the hog at the
expense of the U.S. taxpayer. Even some Democrats are starting to get upset
about this.

Bottom
line it is not right that Obama and his family be spending millions and millions
of taxpayer dollars on luxury vacations when so many Americans are deeply
suffering. What was his quote “We all need to pull our belts in during this
economic crisis” or something like that. But, you see Obama doesn’t want you to
know any of this stuff. He just wants you to buy into his propaganda once more
time so that he can continue to occupy the White House for another four years.
This time I have a feeling that should he succeed he will to something to
change that part of the Constitution that limits the term of a president.