Proof of Obama’s Poor Economic Policies

Obama blames every failure of his administration on Bush, the Tea Parties or the wealth. Yet his policies have been catastrophic for the United States. His administration has established new lows for the nation. Proof comes from the records compiled by the U.S. Bureau of Statistics, U.S. Census, Office of Management and Budget, Joint Committee on Taxation, Commerce Department, Morgan Stanley, and Standard and Poor’s.

1. First debt downgrade in American history.

2. Budget deficit highest since World War II (10% of Gross Domestic Product)

3. Federal spending highest since World War II (25% of Gross Domestic Product)

4. Federal debt highest since World War II (67% of Gross Domestic Product)

5. Long-term unemployment highest since 1930’s (45.9% of total)

6. Lowest employment rate since 1983 (58.1% of population working)

7. Slowest job growth after a recession since World War II for 28 straight months

8. Lowest percentage of taxpayers paying income taxes in modern times (49%)

9. Lowest home ownership rate since 1965 (59.7%)

10. Highest percentage of people receiving one or more federal benefit payments in American History (47%)

11. Lowest residential investment (2.2% of GDP) since 1945

12. Largest deficits in US History for three straight years both in absolute amounts and as a share of GDP according to the Congressional Budget Office (10% – 2009, 8.9% – 2010, 8.6% – 2011)

13. Highest Black Unemployment in 28 years

14. Worst Housing Crisis since the Great Depression

15. Rate of Economic Growth only slightly higher that the 1930’s, the Great Depression Decade

16.  46 million living in poverty, the most on record since the census began tracking poverty in 1959

17.  34 consecutive months of the unemployment rate being above 8%

18. Misery index at 28-year high

19. First time the national debt has exceded Gross Domestic Product since 1945 (Over $15 trillion)

20. Increase in national deficit by $1.3 trillion over last two years set a new record in US History

21. Highest monthly deficit increase (February 2012) in US History – $229 billion.

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About camden41

Retired public school administrator Retired history professor: Taught Western Civilization, American Civil War, United States History, Economic History, Ancient & Medieval Foundations, American History Since 1945
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