Monday, January 19, 2015

27 Facts That Prove Just How Badly Barack Obama's Presidency Has Devastated the Middle Class

By Michael Snyder

During his State of the Union speech on Tuesday evening, Barack Obama is going to promise to make life better for middle class families. Of course he has also promised to do this during all of his other State of the Union addresses, but apparently he still believes that there are people out there that are buying what he is selling. Each January, he gets up there and tells us how the economy is “turning around” and to believe that much brighter days are right around the corner. And yet things just continue to get even worse for the middle class. The numbers that you are about to see will not be included in Obama’s State of the Union speech. They don’t fit the “narrative” that Obama is trying to sell to the American people. But all of these statistics are accurate. They paint a picture of a middle class that is dying. Yes, the decline of the U.S. middle class is a phenomenon that has been playing out for decades. But without a doubt, our troubles have accelerated during the Obama years. When it comes to economics, he is completely and utterly clueless, and the policies that he has implemented are eating away at the foundations of our economy like a cancer. The following are 27 facts that show how the middle class has fared under 6 years of Barack Obama…

#1 American families in the middle 20 percent of the income scale now earn less money than they did on the day when Barack Obama first entered the White House.

#2 American families in the middle 20 percent of the income scale have a lower net worth than they did on the day when Barack Obama first entered the White House.

#3 According to a Washington Post article published just a few days ago, more than 50 percent of the children in U.S. public schools now come from low income homes. This is the first time that this has happened in at least 50 years.

#4 According to a Census Bureau report that was recently released, 65 percent of all children in the United States are living in a home that receives some form of aid from the federal government.

#5 In 2008, the total number of business closures exceeded the total number of businesses being created for the first time ever, and that has continued to happen every single year since then.

#6 In 2008, 53 percent of all Americans considered themselves to be “middle class”. But by 2014, only 44 percent of all Americans still considered themselves to be “middle class”.

#7 In 2008, 25 percent of all Americans in the 18 to 29-year-old age bracket considered themselves to be “lower class”. But in 2014, an astounding 49 percent of all Americans in that age range considered themselves to be “lower class”.

#8 Traditionally, owning a home has been one of the key indicators that you belong to the middle class. So what does the fact that the rate of homeownership in America has been falling for seven years in a row say about the Obama years?

#9 According to a survey that was conducted last year, 52 percent of all Americans cannot even afford the house that they are living in right now.

#10 After accounting for inflation, median household income in the United States is 8 percent lower than it was when the last recession started in 2007.

#11 According to one recent survey, 62 percent of all Americans are currently living paycheck to paycheck.

#12 At this point, one out of every three adults in the United States has an unpaid debt that is “in collections“.

#13 When Barack Obama first set foot in the Oval Office, 60.6 percent of all working age Americans had a job. Today, that number is sitting at only 59.2 percent…

#14 While Barack Obama has been in the White House, the average duration of unemployment in the United States has risen from 19.8 weeks to 32.8 weeks.

#15 It is hard to believe, but an astounding 53 percent of all American workers make less than $30,000 a year.

#16 At the end of Barack Obama’s first year in office, our yearly trade deficit with China was 226 billion dollars. Last year, it was more than 314 billion dollars.

#17 When Barack Obama was first elected, the U.S. debt to GDP ratio was under 70 percent. Today, it is over 101 percent.

#18 The U.S. national debt is on pace to approximately double during the eight years of the Obama administration. In other words, under Barack Obama the U.S. government will accumulate about as much debt as it did under all of the other presidents in U.S. history combined.

#19 According to the New York Times, the “typical American household” is now worth 36 percent less than it was worth a decade ago.

#20 The poverty rate in the United States has been at 15 percent or above for 3 consecutive years. This is the first time that has happened since 1965.

#21 From 2009 through 2013, the U.S. government spent a whopping 3.7 trillion dollars on welfare programs.

#22 While Barack Obama has been in the White House, the number of Americans on food stamps has gone from 32 million to 46 million.

#23 Ten years ago, the number of women in the U.S. that had full-time jobs outnumbered the number of women in the U.S. on food stamps by more than a 2 to 1 margin. But now the number of women in the U.S. on food stamps actually exceeds the number of women that have full-time jobs.

#24 One recent survey discovered that about 22 percent of all Americans have had to turn to a church food panty for assistance.

#25 An astounding 45 percent of all African-American children in the United States live in areas of “concentrated poverty”.

#26 40.9 percent of all children in the United States that are living with only one parent are living in poverty.

#27 According to a report that was released late last year by the National Center on Family Homelessness, the number of homeless children in the United States has reached a new all-time record high of 2.5 million.

Unfortunately, this is just the beginning.

The incredibly foolish decisions that have been made by Obama, Congress and the Federal Reserve have brought us right to the precipice of another major financial crisis and another crippling economic downturn.

So as bad as the numbers that I just shared with you above are, the truth is that they are nothing compared to what is coming.

We are heading into the greatest economic crisis that any of us have ever seen, and it is going to shock the world.

I hope that you are getting ready.

Read more Michael Snyder


Anonymous said...

I'm gonna' throw a monkey wrench into this Michael Snyder's mechanism right away.

First off, who the hell is this Michael Snyder? What are his credentials? Why is he such an expert? and where is he getting these statistics? He certainly didn't give credit to their origin.

As much as I want to believe, and secretly probably believe, that these, so called, statistics are true, I'd sure like to know what study produced them - Or did he simply pull them out of the air?

Dan said...

Hey....."anonymous" moron. Virtually EVERY item in this list has an embedded link showing support for that statement. Most of these numbers are created and published by government agencies.

directorblue said...

Dan, thanks, you beat me to it.

Hey, anon - try rolling your mouse over the bolded areas of each stat. They're these things we call "hyperlinks" - a new invention, I'll admit - that reference the source.

Lib troll.

Anonymous said...

Tonight at the SOTU, Preezy Obama will yet again promise us about what The People's Cube calls "The wonderful world of next Tuesday. Same sh*t, different year.

BTW, those "hyperlinks" are awesome.....

Dale Day said...

As usual, Libs who don't have the guts to identify themselves - hiding behind anon - attack the messenger instead of trying to refute the FACTS!

I'm sharing this and thank you for posting this. Good to compare with the lies we'll hear tonight at the State of the Union - if anybody bothers to watch it.

I won't.

Anonymous said...

Thanks for this post another incredible post of facts.
Obama 's Resume of Destruction
for the Middle Class

Angel Artiste said...

Great article, I've linked to it from my blog. However, I must ask, in #24 what flavor was that panty?

Anonymous said...

First off, I am the original "anonymous" who started this comment thread.

To "Dale Day" I'm sorry, ya' see I'm not a professional shill for any comment that strikes my fancy. I have no "Google Account", no "open ID" so I have no other choice given. If I was a serial-professional like yourself I could then have such accounts. Instead I'll just have to be an equal-ooportunity bitcher who deals in FACTS before sending a dubious post along.

And to "Dan" and "directorblue" I didn't say that I couldn find the links, I didn't find them all credible.

For example: The site (his?) still didn't tell this guy's credentials and 4 of the links are back to his site only which isn't very credible. Also, There were 8 more duplicate links. remove his own links and the duplicates and suddenly the "27" figure looks inflated don't it?

Naw! This sounds like a guy with and ax to grind. A "doomsday prepper" with military surplus, gold, silver, books and herbal medicines to sell. He has no "About" link or bio to explain his qualifications. and even though many of the linked stories look legitimate, the guy has lost all credibility in my eyes.

Of course, that's just my opinion, I could be wrong but not as wrong as any of you "doomsday preppers" or "conspiracy theorists".

And no, I too can't stand the Obungler in the White House but, let's be more honest and objective when criticizing one who is so easy to criticize. We don't need to fabricate crap and add more fuel to his dwindling Lib-O/Dim-O followers.

Anonymous said...

Further - Today's "THE REAL STATE OF THE UNION: By the Numbers" posting is a real example of well-researched, incontrovertible facts with valid links to everything posted. Well done RNC! and thanks to "directorblue" for posting it.