Before the president announces his plans for even more “free” stuff in his 2015 State of the Union address this evening, how about we first examine the fruits of his labors thus far? The Economic Collapse Blog has compiled 27 Facts That Show How The Middle Class Has Fared Under 6 Years Of Barack Obama – that’s a great place to start.
First, understand that from 2009 through 2013, the U.S. government spent a whopping 3.7 trillion dollars on welfare programs (If we add 2014 $$, it’s got to be well over 4 trillion). Let that obscene amount of taxpayer cash sink in for a moment… and then consider – what exactly has all that spending produced?
Here are just 12 items from the Economic Collapse list of 27 ~
1. American families in the middle 20 percent of the income scale now earn less money than they did on the day when Barack Obama first entered the White House.
2. American families in the middle 20 percent of the income scale have a lower net worth than they did on the day when Barack Obama first entered the White House.
3. According to a Washington Post article published just a few days ago, more than 50 percent of the children in U.S. public schools now come from low income homes. This is the first time that this has happened in at least 50 years.
4. According to a Census Bureau report that was recently released, 65 percent of all children in the United States are living in a home that receives some form of aid from the federal government.
5. In 2008, 25 percent of all Americans in the 18 to 29-year-old age bracket considered themselves to be “lower class”. But in 2014, an astounding 49 percent of all Americans in that age range considered themselves to be “lower class.”
6. According to a survey that was conducted last year, 52 percent of all Americans cannot even afford the house that they are living in right now.
7. After accounting for inflation, median household income in the United States is 8 percent lower than it was when the last recession started in 2007.
8. According to one recent survey, 62 percent of all Americans are currently living paycheck to paycheck.
9. While Barack Obama has been in the White House, the number of Americans on food stamps has gone from 32 million to 46 million.
10. When Barack Obama was first elected, the U.S. debt to GDP ratio was under 70 percent. Today, it is over 101 percent.
11. According to a report that was released late last year by the National Center on Family Homelessness, the number of homeless children in the United States has reached a new all-time record high of 2.5 million.
12. The U.S. national debt is on pace to approximately double during the eight years of the Obama administration.
In other words, under Barack Obama the U.S. government will accumulate about as much debt as it did under all of the other presidents in U.S. history combined ~
The Barack Obama Redistribution Scheme sounds just great to the low-information voter. (The have-nots want all the hand-outs; the haves get to feel magnanimous about handing out – no matter how futile and ineffective the redistribution.) Of course they have about as much use for actual facts as the president himself. Unfortunately, we all have to live with the disastrous economic consequences of his fiscally irresponsible actions.
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Related:
The Obama Debt ~ The site stays on top of the emperor’s growing debt leviathan with regular updates.
Middle class decline looms over final years of Obama presidency ~
Barack Obama enters the final two years of his presidency with a blemish on his legacy that looks impossible to erase: the decline of the middle class he has promised to rescue.
America’s disappearing middle class
Food $tamp$ – Enabling Abuse and Dependency
