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Sunday, April 15, 2012

Geithner: Obama Policies 'Incredibly Effective- Reality: 7 Facts About The Obama Economy

By Susan Duclos

Robert Stacy McCain over at The American Spectator points to Treasury Secretary Timothy Geithner saying that Barack Obama's policies have been "incredibly effective," and in looking at the results of some of those policies, Geithner is correct, they have been effective, in killing jobs and the economy.

Wynton Hall over at Big Government provides seven facts about the Obama economy to show just how devastatingly "effective" Obama's policies have been.

1. Every fifth man in America is out of a job. Indeed, black male unemployment is now at the highest rate it has ever been since the U.S. government began collecting statistics on the subject in 1972. Just 56.9 percent of black men over the age of 20 are now working. Indeed, according to Rep. Maxine Waters (D-CA), one out of every six African Americans, male or female, are now unemployed.

2. Every seventh person you pass on the sidewalk now relies on food stamps.

3. On the last day of President Bush's presidency, gas prices were $1.84 a gallon. Today under Obama, the average price of a gallon of gas costs $3.94. Easter weekend in Catalina Island, California, drivers saw prices topping $7 a gallon.

4. In 2006 and 2007, 90% of all college graduates found a job. Under Obama, just 56% of college graduates are able to find a job.

5. More than one in four U.S. homeowners are "under water" or owe more than their homes are worth. The housing crisis has now destroyed $7 trillion in U.S. household wealth. Another 9.5 million homes are still at risk of default, sparking what analysts believe will be a second wave of foreclosures in the months to come.

6. President Obama has increased the national debt more in three years than President Bush did in eight. Under Bush, the debt rose $4.899 trillion in eight years. In three years, Obama has exploded the debt by $4.939 trillion.

7. A record 87,897,000 Americans are no longer in the labor force. When the number of individuals who have stopped looking for a job and/or who are working part-time but desire full-time employment is included--a figure known as the "underemployment rate"--real unemployment stands at 19.1%.

Barack Obama in October 2008 said "At this defining moment in our history, the question is not are you better off than you were four years ago, we all know the answer to that. The real question is, will our country be better off four years from now?"


Polling done in March of 2012 shows that an overwhelming majority of Americans are not better off today than they were four years ago.

43 percent of Americans say things are about the same, 37 percent say things are worse and only 20 percent say things are better, according to CBS News polling. That is 80 percent of Americans clearly stating they are not "better off" than they were four years ago.

In October 2011, Obama himself admitted "Well, I don't think they're better off than they were four years ago...."

February 2009, Barack Obama said "if I don’t have this done in three years, then there’s going to be a one-term proposition."


He also said he would be held accountable....

By Obama's own standards and assertions, stated in 2008 and 2009, he has failed and should be held accountable.