Below is an excellent, current (about 2/15/11) snapshot of our national economy since the inauguration of President Obama (with Democrat control of both federal legislative bodies until this year). It seems that the goal of the table of figures is to disparage Barack — and well he’s earned it.
It appears that Dick Morris first publicized this table of comparisons. It was prepared by one Ruth S. King, but a quick Google search didn’t discover her source site.
BTW, I wish this snapshot table included the actual URL websites of the sources. That would be helpful both to verify the figures and to update them as time passes. From what I see of the numbers, they are indeed accurate.
To be fair, it should be pointed out that a fair amount of the decline since Obama took office (the undefined portion due to federal government policies) sits on the shoulders of Bush II — and both parties in Congress during the Bush tenure. There is a lag time from the point where policies (good or bad) are put in place and when we feel/see the consequences — intended or unintended.
But clearly the the current run-up of the money supply and the mushrooming increase in deficit spending is Obama’s baby. And so are the adverse future consequences still to come.
Obama et al justify their runaway stimulus spending with a lame rationale — “it would have been worse without our policies.” Of course, such an assertion is unprovable either way.
But what IS apparent is that Obama’s claimed improvements at the time of the stimulus package implementation did not come to pass — things got worse, not better (except perhaps for government employees — the primary beneficiaries of stimulus spending).
Obama is the poster child for the “Peter Principle” — rising to his level of incompetence. Oddly enough, I STILL predict he will be re-elected in 2012.
I hope I’m wrong.
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Inflation and Unemployment.
Two years ago, Barack Obama was inaugurated as president of the United States.
The mainstream media does not cover the full extent of the damage the Obama Administration has inflicted on this country. Even FoxNews often doesn’t have the time to go into sufficient depth to explain what is happening.
From our friend Ruth S. King comes a chart which all of us should read and absorb, sobering though it may be:
NOTE: To see this fuzzy image in crystal clear format, just click on the chart for a sharp picture. It usually works.
Just take this last item: In the last two years we have accumulated national debt at a rate more than 27 times as fast as during the rest of our entire nation’s history. Over 27 times as fast! Metaphorically, speaking, if you are driving in the right lane doing 65 MPH and a car rockets past you in the left lane 27 times faster . . . it would be doing 1,755 MPH!
(1) U.S. Energy Information Administration; (2) Wall Street Journal; (3) Bureau of Labor Statistics; (4) Census Bureau; (5) USDA; (6) U.S. Dept. of Labor; (7) FHFA; (8) Standard & Poor’s/Case-Shiller; (9) RealtyTrac; (10) Heritage Foundation and WSJ; (11) The Conference Board; (12) FDIC; (13) Federal Reserve; (14) U.S. Treasury