Barack Obama spoke on the economy today.
He wants you to forget about the Obamacare disaster.
obama cfap
U.S. President Barack Obama speaks about the economy at an event hosted by the Center for American Progress in Washington DC. (Reuters)

He wants you to focus on the disastrous economic record.
big fail
GOP.com put together this summary of Obama’s economic failures.

“For The Second Consecutive Year, Neither The Official Poverty Rate Nor The Number Of People In Poverty At The National Level Were Statistically Different From The Previous Year’s Estimates.” (Carmen DeNavas-Walt, Bernadette D. Proctor, and Jessica C. Smith, “Income, Poverty, And Health Insurance Coverage In The United States: 2012,” U.S. Census Bureau, 9/17/13)

As Of 2012, There Are 46.5 Million Americans Living In Poverty. (Carmen DeNavas-Walt, Bernadette D. Proctor, and Jessica C. Smith, “Income, Poverty, And Health Insurance Coverage In The United States: 2012,” U.S. Census Bureau, 9/17/13)

Under Obama, The Poverty Rate Has Increased From 13.2 Percent To 15 Percent. (Carmen DeNavas-Walt, Bernadette D. Proctor, and Jessica C. Smith, “Income, Poverty, And Health Insurance Coverage In The United States: 2012,” U.S. Census Bureau, 9/17/13; Carmen DeNavas-Walt, Bernadette D. Proctor, and Jessica C. Smith, “Income, Poverty, And Health Insurance Coverage In The United States: 2008,” U.S. Census Bureau, 9/09)

Under Obama, 6.7 Million More Americans Have Fallen Into Poverty. (Carmen DeNavas-Walt, Bernadette D. Proctor, and Jessica C. Smith, “Income, Poverty, And Health Insurance Coverage In The United States: 2012,” U.S. Census Bureau, 9/17/13; Carmen DeNavas-Walt, Bernadette D. Proctor, and Jessica C. Smith, “Income, Poverty, And Health Insurance Coverage In The United States: 2008,” U.S. Census Bureau, 9/09)

Under Obama, The Gini Coefficient – Used To Measure The Degree Of Income Inequality – Has Increased From .466 To .477. (Carmen DeNavas-Walt, Bernadette D. Proctor, and Jessica C. Smith, “Income, Poverty, And Health Insurance Coverage In The United States: 2012,” U.S. Census Bureau, 9/17/13; Carmen DeNavas-Walt, Bernadette D. Proctor, and Jessica C. Smith, “Income, Poverty, And Health Insurance Coverage In The United States: 2008,” U.S. Census Bureau, 9/09)

From 2011 To 2012, Median Income Declined From $51,100 To $51,017. (Carmen DeNavas-Walt, Bernadette D. Proctor, and Jessica C. Smith, “Income, Poverty, And Health Insurance Coverage In The United States: 2012,” U.S. Census Bureau, 9/17/13)

Since Obama Took Office, The Average Duration Of Unemployment Has Nearly Doubled From 19.8 Weeks To 36.1 Weeks. (Bureau Of Labor Statistics, Accessed 12/4/13)

The Unemployment Rate Has Fallen “Almost Entirely” Because Fewer People Are Looking For Jobs, Rather Than Due To People Actually Finding Jobs. “The unemployment rate has dropped almost entirely because of this decline in labor force participation. In other words, it has not fallen because people are finding jobs. It has fallen because fewer people are looking for jobs.” (Binyamin Appelbaum, “Labor Force Participation Is Not Coming Back,” The New York Times‘ Economix Blog, 7/18/13)

21.6 Million Americans Are Unemployed, Underemployed Or Have Given Up Looking For Work. (Bureau Of Labor Statistics, Accessed 12/4/13)

“Nearly Two-Thirds Of Jobs Lost During The Recession Paid Middle-Class Wages, According To The National Employment Law Project. Yet Only 22 Percent Of Jobs Created Under Obama Are Mid-Wage Occupations.” “Nearly two-thirds of jobs lost during the recession paid middle-class wages, according to the National Employment Law Project. Yet only 22 percent of jobs created under Obama are mid-wage occupations. That disparity is what Obama had in mind when he declared in his Inaugural Address, ‘We know that America thrives when every person can find independence and pride in their work, when the wages of honest labor liberate families from the brink of hardship.’” (Ron Fournier, “Middle Class Falls, Wall Street Rises…And Washington Dithers,” National Journal, 5/31/13)

Daniel Alpert, Managing Partner Of New York Investment Bank Westwood Capital, Says “We Have Become A Nation Of Hamburger Flippers, Wal-Mart Sales Associates, Barmaids, Checkout People And Other People Working At Very Low Wages.” “The majority of the jobs that have been created during the recovery have been low-paying jobs, worsening income inequality and keeping the economy sluggish. ‘Really we have become a nation of hamburger flippers, Wal-Mart sales associates, barmaids, checkout people and other people working at very low wages,’ Daniel Alpert, managing partner of New York investment bank Westwood Capital, told Yahoo Finance’s Daily Ticker. That’s why job growth is ‘not increasing consumption or the ability to go out and buy stuff.’” (Mark Gongloff, “July Jobs Report Masks Real Problems In U.S. Labor Market,” The Huffington Post, 8/2/13)

There’s more….

According To A July Chamber Of Commerce Poll, ObamaCare Now “Surpasses Economic Uncertainty As The Top Worry For Small Business Owners.” “Small business owners’ concern about the economy remained steady this quarter; however, their concern about the 2010 health care bill rose significantly in the past quarter and for the third quarter in a row (from 42% in January to 49% in June). Since June 2011, anxiety about the requirements of the law has increased by 10-points since and now surpasses economic uncertainty as the top worry for small business owners.” ( Harris Interactive/U.S. Chamber Of Commerce , 1304 Small Business Executives, MoE 2.5 %, 6/21/13-7/8/13)

A Separate IFA Poll Shows That “Sixty-Four (64) Percent Of Business Decision-Makers In Franchise-Owned Businesses And 53 Percent Of Non-Franchisee-Owned Businesses Believe The ACA Will Have A Negative Impact On Their Businesses.” ( IFA/U.S. Chamber Of Commerce/Public Opinion Strategies , 414 Franchise-Owned And Non-Franchised Owned Businesses With 40 To 500 Employees, 11/13/13)

“Twenty-Nine (29) Percent Of Franchise And 41 Percent Of Non-Franchise Businesses Are Already Seeing Health Care Costs Increase Due To The Law.” ( IFA/U.S. Chamber Of Commerce/Public Opinion Strategies , 414 Franchise-Owned And Non-Franchised Owned Businesses With 40 To 500 Employees, 11/13/13)

The IFA Poll Shows That “The Employer Mandate Will Almost Double The Percentage Of Franchise-Owned Businesses And More Than Triple The Percentage Of Non-Franchise Businesses That Will Not Offer Health Care.” “Twenty-eight (28) percent of franchise and non-franchise businesses surveyed report that the employer mandate will mean they will drop coverage for their employees. In effect, among this segment of businesses, the employer mandate will almost double the percentage of franchise-owned businesses and more than triple the percentage of non-franchise businesses that will not offer health care.” ( IFA/U.S. Chamber Of Commerce/Public Opinion Strategies , 414 Franchise-Owned And Non-Franchised Owned Businesses With 40 To 500 Employees, 11/13/13)

“Employers Around The Country Are Reducing Employee Hours Because They Can’t Afford ObamaCare. “Employers around the country, from fast-food franchises to colleges, have told NBC News that they will be cutting workers’ hours below 30 a week because they can’t afford to offer the health insurance mandated by the Affordable Care Act, also known as ObamaCare.” (Lisa Myers and Carroll Ann Mears, “Businesses Claim ObamaCare Has Forced Them To Cut Employee Hours,” NBC News, 8/13/13)

 

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