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President Obama's Economic Programs Have Failed

Wehrwolfen

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The recovery has not yielded job vacancies, but here are five ways to cure our labor woes​


By Mortimer B. Zuckerman
April 20, 2012

America has long been a country where almost everyone, including the poor and unskilled, could get a job. Given the will to do a reasonable day's work, a job was a passport to economic and social well-being; it was the fount of self-esteem and the foundation of family life. Indeed, work was Life.

More than 15 million Americans no longer have that passport to Life. Think of it as roughly the entire population of the states of Connecticut, Delaware, Arkansas, Iowa, and Oklahoma, all standing idle—every man, woman, and child. The traditional breadwinners, namely men between the ages of 25 and 54, are among those hardest hit. According to an Investor's Business Daily/TIPP poll, some 25 percent of households include someone who is unemployed and looking for work. As well as laying waste to work, to the equivalent of losing every job created in the last decade, the Great Recession has visited us with reduced incomes, declining home equity, and a growing contraction in credit.


[Excerpt]

Read more:
Mort Zuckerman: President Obama's Economic Programs Have Failed - US News and World Report

The success that Obama has had in handling the American economy is simply to destroy it. If one can call it success.
 

Wehrwolfen

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Obama Wins The Gold For Worst Economic Recovery Ever​
- Forbes

By Louis Woodhill

www.forbes.com/.../01/obama-wins-the-gold-for...economic-recovery-ever

Aug 01, 2012 · If mismanaging an economic recovery were an Olympic event, President Obama would be standing on the middle platform right now, accepting the …

"Deep recessions are supposed to be followed by strong recoveries, but, under Obama, the worst recession since the 1930s has been followed by the slowest economic recovery in the history of the republic. In a very real sense, there has been no recovery at all—things are still getting worse."
 

head of joaquin

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Bush trashes the economy, the teabaggers in Congress stonewall the recovery, and it's all Obama's fault.

BWHHAHAHAAHAH!

Only in teapartybizarroworld.
 

fmw

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No government economic policy has ever succeeded. Why pick on Obama? The only appropriate government economic policy is one that has them managing themselves competently.
 

head of joaquin

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No government economic policy has ever succeeded. Why pick on Obama? The only appropriate government economic policy is one that has them managing themselves competently.

And the talking points continue.
 

Wehrwolfen

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Bush trashes the economy, the teabaggers in Congress stonewall the recovery, and it's all Obama's fault.

BWHHAHAHAAHAH!

Only in teapartybizarroworld.


Failed Obama Policies Put More Americans In Poverty​



04/03/2013

Obamanomics: As the president began the first year of his second term, the U.S. poverty rate rose to a level not seen since the 1960s. What we have here is a colossal failure of government policy.

The Census Bureau says that 50 million Americans, roughly one in six — almost 17% — are living below the poverty line, which is defined as earnings of less than $23,021 a year for a family of four. Apparently 20% of the nation's children are living in poverty.

We learn this not from a screaming New York Times or Washington Post headline. Nor have we learned it from any of the networks or major dailies that are relentless cheerleaders for Barack Obama. This news is found in an Associated Press story carried by the British Daily Mail that is more focused on alleged shrinking aid for the poor than it is on the grim data.

Of course this is what we'd expect, given that the mainstream press is so busy praising Obama that it misses — probably willfully — the disastrous economy over which he's presided.
The 50 million Americans living below the poverty line aren't lone markers of Obama's failure.

Since the economy began its tentative recovery just a few months into his first term, the unemployment rate has been nothing but ugly. It sits now at 7.7%, down from its peak of 10% in October 2009.

While that might seem an improvement, it's not.

As we noted a month ago, "just 58.6% of Americans work today, down from 60.6% when Obama took office." If the labor force participation rate were the same as it was when Obama was inaugurated, the unemployment rate would be higher than 12%.

Another sorry marker is annual GDP growth.

Obama's average has been less than 2% per quarter, annualized. In the last quarter of 2012, it was an almost invisible 0.4%.

For all of 2011, GDP growth was 1.8%, in 2012 it was 2.2%, well below the 2.5% to 3% pace that most economists believe is the norm. And, by the way, the White House had forecast 4% growth in each of these years.

Again, bear in mind that the recession lifted in June 2009, before Obama's policies could have had a positive impact on the economy. The economic stagnation and our jobless recovery have occurred after the implementation of his policies — the nearly $1 trillion stimulus, tax hikes, ObamaCare, hyper-regulation — and during the heat of his class-division rhetoric that has obsessed on government-enforced fairness.




Read More:
Obama's Failed Economic Policies Plunge More Americans In Poverty - Investors.com
 
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