The Great Recession Has Officially Been Over for 5 Years, But Americans Are Still Suffering Thanks to Obama’s Economic Policies
June 1 marked the fifth anniversary of the Great Recession’s official end, according to the economists who track such things.
This month also marks the fourth anniversary of the Obama administration’s “Recovery Summer” public relations campaign to promote the effects of the feds’ $878 billion stimulus plan.
But for most Americans, the Great Recession is still a present day reality, regardless of what the experts say.
“The majority of Americans still rate economic conditions as ‘poor’ and for good reason: This jobs recovery is the slowest on record, wages are barely rising, home prices are still below their peak and more Americans are using food stamps than ever before.
“Main Street America still doesn’t feel recovered, because, quite frankly, it’s not.
“ … Each American – including children – is about $4,700 a year worse off than they would have been if the economy had not gone into recession, calculates Lawrence Yun, chief economist for the National Association of Realtors. Of course, some are better and some are worse off than that, but that’s the average loss.”
This dour report comes on the heels of news that the U.S. economy actually shrank by 1 percent in the first three months of this year, and that the labor force participation rate is the lowest it’s been since 1979.
The inescapable conclusion is that the Left’s Big Government economic policies – ramped up federal spending, tax hikes on “the rich” and an enlarged safety net (i.e. Obamacare) – have utterly failed to improve the average American’s lot in life.
Even Democrats seem to understand this, which is why when they are forced to talk about the economy, they focus on the topics of income inequality, gender pay inequality (part of the “war on women”), and raising the minimum wage.
The Democrats are trying to fool voters into believing the dismal job and wage numbers are the result of America’s inherently flawed economic system that treats women and minorities unfairly. If it weren’t for those systemic flaws, President Obama would have the economy rocking and rolling by now.
It’s unclear if this generation of American voters will buy that malarkey, but the next generation certainly might.
A number of public school teachers and many university professors are indoctrinating their students into believing they’ll never experience economic success because the United States is designed to only benefit white people – and primarily white men.
They call this “white privilege,” and it’s no coincidence the Left has become obsessed with the topic at the very same time their economic policies are crashing and burning for all to see. They’re trying to make capitalism into the scapegoat for the failures of collectivism.
It’s a laughable argument, and a majority of Americans will probably reject it on Election Day. But in the long run – when today’s propaganda-trained students are tomorrow’s voters – it just might be a winning issue.