Tags: Barack Obama | Media Bias | gdp

Is Obama the Worst President Ever?

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Monday, 01 Aug 2016 02:17 PM Current | Bio | Archive

Despite eight long years of lies and propaganda from the Obama administration and the mainstream media, it's time to call Obama exactly what he is.

#ObamaWorstPresidentEver

The problem is there are two Americas. Obama's voters have no part in the private sector. Their lives are tied to government checks, or government payrolls. They have their hands perpetually out. Obama’s voters sign the back of checks.

For Obama’s America, the economy is peachy. Nothing has changed. Their government checks just keep on coming. So they don’t notice anything is wrong with the economy. As long as your welfare check or EBT card shows up on the first of the month, life is good.

But for the rest of America — aka middle class American taxpayers and over 20 million small business owners — it’s a very different story. For Americans who sign the front of checks, or spend their lives paying taxes into the system, America is a mess, the economy is a disaster, there are no quality middle class jobs, and there are too many government regulations to open a lemonade stand.

In other words, we are royally screwed.

As if on cue, to prove my point, the Fed released the latest GDP figures. They are a bloody disaster. Second quarter GDP was 1.2 percent, far below expectations of 2.6 percent. A simple way to describe 1.2 percent GDP is "jet engine stall." We're aren't moving, the economy is in quicksand.

If only this were only about one quarter, this would be worrisome, but not a disaster. It's not.

First, the Fed also downgraded the past two quarters. The first quarter of 2016 was actually downgraded to negative. Also keep in mind Obama's own White House economists recently predicted GDP would be around 1.9 percent for 2016. That was based on 2nd quarter GDP being 2.6 percent, not 1.2 percent. So we will finish up this year around 1.5 percent GDP (or lower).

Now add in the fact that the GDP for Obama's entire time as President was just downgraded by the Commerce Department by over $300 billion.

This is now officially a disaster. Still not convinced Obama is the worst president ever?

Here is a powerful list of shocking, damning, specific facts about the Obama economy:

  • GDP (Gross Domestic Product) is the only real determinate of economic growth. Barack Obama is the only president in the history of America to preside over 7 straight years of GDP growth under 3 percent
  • 2016 is off to a pace that virtually guarantees this will be the 8th straight year with GDP under 3 percent. If so, Obama will become the only president in America’s history to never produce a single year of 3 percent or higher GDP. Let me paint the tragic picture. Even pathetic sad-sack Herbert Hoover enjoyed one year with 3 percent plus GDP. Obama is worse than Hoover.
  • The longest previous streak of under 3% GDP in the history of America was four years (1930 to 1933) during the depths of the Great Depression.
  • From 1790 to 2000, America’s economy averaged GDP growth of 3.79%. Obama’s eight years are on pace to average GDP of 1.55%- substantially less than half of our country’s average economic growth for 210 years.
  • For the first time in American history, more businesses are being destroyed each day than are being created.
  • There are 70 percent more Americans collecting entitlement checks than working in the private sector (148 million “takers” versus 86 million “makers”). This is a fact provided by the U.S. Census Bureau.
  • Thirteen of the 23 Obamacare State Co-Op Exchanges have failed (gone bust and broke). The remaining 10 have losses of over $200 million per year. The $1.24 billion of federal start-up money used to start them all is most probably gone forever. It will never be repaid. It's all going bad for Obama.
  • In this Obama economy, 40 percent of American workers now earn less (adjusted for inflation) than a full-time minimum wage worker in 1968.
  • Twenty percent of U.S. families don’t have a single member who is employed.
  • Record numbers of Americans are not in the workforce (over 94 million):

By the way, if you want proof of the death of middle class jobs, here is the most recent breakdown of jobs created in ultra-liberal New York City from pre-recession peak in 2008 to April 2014:

  • Low wage jobs created — 191,000
  • Middle class jobs created — 3,745


More Young Americans now live with their parents than at any time since Great Depression.

Forty-three percent of the 22 million student loan borrowers aren’t making any loan payments.

Two thirds of Americans don’t have $500 for an emergency bill.

Food stamp use under Obama is up by 43 percent. 

So please stop arguing. There is no longer any doubt.

Wayne Allyn Root is a former libertarian vice presidential nominee. He is the best-selling author of "The Power of Relentless." Read more reports from Wayne Allyn Root — Click Here Now.



 

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Despite eight long years of lies and propaganda from the Obama administration and the mainstream media, it's time to call Obama exactly what he is.
gdp
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2016-17-01
Monday, 01 Aug 2016 02:17 PM
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