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red states rule
01-25-2013, 05:15 AM
and yet we are told we are in a "recovery"
As of the end of 2012, the United States has experienced the worst five-year period -- which includes, as the final four years, Obama's first full term -- since 1928-1932 and the start of the Great Depression. From 2009 through 2012 the Obama cabal, and their allegiance to statist policies, has been in charge for four years. The global financial crisis took place in the previous year, 2008, and based on the historical pattern of American economic recovery since the depression years, the United States should have been experiencing broad and significant economic and job growth by year three at the latest.
But thanks to Barack Obama and the Democrats in Congress, not since 1928 through 1932 have the American people been more significantly worse off at the end of a five-year period than they were at the beginning. The telling statistics:
A) Since January 2008 the employment age population has increased by 11.7 million, yet there are 3.0 million fewer American employed. (146.3 million in January 2008 vs. 143.3 million in December 2012) Factoring the population growth and 2008 labor participation rate the unemployment rate for December 2012 would be 11.4% as compared to 4.9% in December of 2007 (http://www.bls.gov/schedule/archives/empsit_nr.htm#2008).
B) At the end of 2007, the median household income was $54,489.00 (inflation adjusted); at the beginning of 2012 it had dropped to $50,020.00 (a decline of nearly 9%). The most precipitous plunge (http://www.davemanuel.com/median-household-income.php)over a similar period since the Census Bureau started issuing that statistic. While American incomes were rapidly eroding, the cost of living continued to rise as the commodity price index (http://www.indexmundi.com/commodities/?commodity=commodity-price-index&months=60)(basket of food, fuel and other essential commodities) rose 20% from December 2007 to September 2012.
C) The average net worth (http://finance.yahoo.com/blogs/daily-ticker/american-dream-shrinks-avg-net-worth-falls-40-160150749.html)of all American households from 2007 through the beginning of 2011 took a nose-drive, dropping by nearly 40%, a drop driven in great part by a devastating collapse in the median value of their homes ($250,000.00 in 2007 vs. $173,000 in 2012; a decline of 30%).
D) In December 2007, 26.5 million Americans were on food stamps at a cost of $30 Billion. As of December 2012, 47.7 million were accessing the food stamp program (http://blogs.wsj.com/economics/2012/04/19/food-stamp-rolls-to-grow-through-2014-cbo-says/?mod=e2TW)(increase of 80%) at a cost in excess of $70 billion. Further the government calculated 38.0 million Americans were living in poverty (http://www.census.gov/prod/2008pubs/acs-09.pdf)at the end of 2007 (poverty rate of 13.0%); however, by the beginning of 2012, 49.7 million were living in poverty and the rate had increased (http://washington.cbslocal.com/2012/11/15/census-u-s-poverty-rate-spikes-nearly-50-million-americans-affected/)to 16.1%.
E) The nation's growth in the Gross Domestic Product (GDP) over the past five years has also been the most anemic since the depression years. The GDP (adjusted for inflation) in 2007 was $15.5 trillion (http://www.usgovernmentspending.c/); in 2012 it is estimated to be $16.0 trillion (http://www.forecasts.org/gdp.htm), a difference of just .5 trillion -- a growth rate of 3 % over five years or an annual rate of a miniscule .6%.
F) While the nation's growth rate has been stagnant, spending by governments at all levels has increased dramatically from $4.9 trillion in 2007 to $6.2 trillion (http://www.usgovernmentspending.com/)in 2012, a jump of 26.5% which is driven entirely by the federal government as it has increased its spending by nearly 41% over this period. This has resulted in the total national debt rising from $9.2 trillion at the beginning of January 2008 to $16.45 trillion (http://www.treasurydirect.gov/NP/BPDLogin?application=np)as of today. (a staggering 79% increase).
G) In keeping with the pattern established by the five-year plans of the Soviet Union, there are three groups that have fared well over the past five years: federal bureaucrats, Deomcratic Party loyalists, and crony capitalists in bed with the Obama regime. Since December of 2007 there has been an increase of nearly 12% in new government jobs created (1.97 million vs. 2.2 million today). Further, the average total compensation for federal government employees increased nearly 9% to $126,200 by the beginning of 2011. Additionally, the number of government workers (http://www.downsizinggovernment.org/overpaid-federal-workers)earning more than $150,000.00 has more than doubled over this same period. By comparison, the average total compensation for those in the private sector was $62,100.00 at the beginning of 2011, 49% of what the average federal employee realizes.


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