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Title: Obama's Phone-It-In Economy
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URL Source: http://www.americanthinker.com/2011 ... bamas_phone-it-in_economy.html
Published: Jun 11, 2011
Author: Kevin Jackson
Post Date: 2011-06-11 03:14:41 by socalv8
Keywords: obama, economy, double-dip
Views: 171
Comments: 4
According to Standard & Poor's/Case-Shiller, home prices in twenty U.S. cities are at an eight-year low, down an average of 29% across the country. Democrat pundits spin is that "home prices threaten economic recovery." Recovery? Really? Obama's economy has wiped out most people's largest savings plan: their home equity. Around $6.2T has evaporated from the housing marketing during Obama's War on Achievement. That's a lot of "green" that is not spurring economic growth in the economy. This is potentially more devastating than the other economic snafus created by America's Ivy League man-child. Why? In the seven years before its peak in July 2006, the home-price index surged 155 percent. Since then, it's fallen 33 percent. During the Great Depression, prices fell 31 percent, and it took nineteen years for the market to regain those losses. If it takes almost two decades to get back to the status quo this time around, that doesn't bode well for Obama's legacy. To put this in simple terms: If you don't like the home you are in, change your attitude, because you aren't changing your residence. That is, unless you get foreclosed on, which is a distinct possibility these days. Obama vowed to end homelessness within ten years; however, his actions appear to be having the opposite effect. One report said that homelessness is up 6%, and this doesn't include those still living in their foreclosed properties or squatting in others. What does Obama do? Obama has shifted focus to fight homelessness, this time targeting gay teens for homes. According to the Huffington Post, homelessness for gay teens has hit crisis levels. Here comes O to save the day! The poverty rate under Obama has risen 1.8%, and this was from a report back in 2009. This increase is the highest since the days of Jimmy Carter, better known as The Peanut Era. This is no way to treat the 3.5M fraudulent 2008 Obama voters who had no homes. The unions got theirs; so should the poor folks. Obama certainly throws enough money at the problem, upping the ante to the homeless 24% in the latest budget. Whether it's homelessness or the unemployment figures, I'd like to inform Obama: You're going the wrong way! Obama has invested almost $2T in his strategy, and unemployment is going up. If you think Obama has learned anything, think again. Job growth in right-to-work states from 1993 to 2009 was 37.9%; in "forced union" states, it was only 19.6% during the same period. You don't need a Harvard degree to understand that you get twice the job growth in right-to-work states compared to forced union states. Guess where Obama gambled our money. Add to this the staggering statistic that the private-sector growth in the last decade was a paltry 1%, but government grew 15% during the same time period. Even with Obama's Big Government, according to the U.S. Department of Labor, 14.8 million Americans remain unemployed, 6.1 million of them having been out of work for 27 weeks or over. This figure has been challenged by the Union of the Unemployed, who provide statistics that the actual number of unemployed Americans is 31 million. I'm inclined to agree with the Union of the Unemployed. Even teens are finding it difficult -- according to this report, over 24% of teens can't find summer jobs. In the black community, this statistic is easily double. College graduates are moving back home, because they can't find jobs. And the news in the Era of O just keeps getting better. The U. S. Census Bureau shows that the median household income for Americans has fallen to $49,777 -- a decline of 0.7% in the past year. One in seven Americans can no longer feed himself, and according to The Wall Street Journal, 14.3% of the American people live in abject poverty. How much evidence does one need to figure out that Obama doesn't know whether to scratch his watch or wind his butt? Obama won't create jobs because socialism creates victims. And Obama has a list of strategies: 1.Blame Bush. As Herman Cain said, "Obama couldn't run a pizza joint." That's my rant!
2.Sell the concept of "enjoy unemployment; it's really not that bad."
3.Lower expectations of life as an American.
4.Live like a third-world nation, go green, and sacrifice.
5.Help each other out -- just don't blame Obama
6.Our policies need more time.
7.Blame Bush again.
8.Blame the Japanese tsunami.
9.Just get over it.
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#1. To: socalv8 (#0)
(Edited)
Housing prices went into freefall in 2007 and collapsed in 2008.
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." "THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!" Job losses were halted under Obama. Or maybe you forget that Bush's farewell gift was an economy bleeding hundreds of thousands of jobs a month. Job growth in right-to-work states from 1993 to 2009 was 37.9%; in "forced union" states, it was only 19.6% during the same period. While not agreeing to his numbers it would explain why a) middle class wages have stagnated and b) why so many are without healthcare.
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." "THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!" 2005 freefall in my hood, but point taken.
Some areas started sooner; but in 2008, I believe that the aggregate US housing market lost 20% of its value in that one year.
America...My Kind Of Place... "I truly am not that concerned about [bin Laden]..." "THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!"Obama's economy has wiped out most people's largest savings plan: their home equity.
--GW Bush
--Sarah Palin's version of "The Midnight Ride of Paul revere"
#2. To: socalv8 (#0)
Obama has invested almost $2T in his strategy, and unemployment is going up.
--GW Bush
--Sarah Palin's version of "The Midnight Ride of Paul revere"
#3. To: war (#1)
Housing prices went into freefall in 2007 and collapsed in 2008.
#4. To: socalv8 (#3)
--GW Bush
--Sarah Palin's version of "The Midnight Ride of Paul revere"
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