What’s up and what’s down since November 2008?
The chance of finding a job is down; 13 million are looking but can’t find one. The odds you are working part time but would like to work full time are up; 9 million Americans can only find part-time work.
The labor force participation rate is down, and is at a 30-year low of 64 percent. The price of a gallon of gas is up, from $1.80 in 2008 to more than $3.50 today. Oil and gas production on federal lands is down by 40 percent. The number of coal-fired power plants is down, with 124 shut down since 2008 and another 175 scheduled to be shut down over the next two years, representing 27 gigawatts, with nothing in the pipeline to replace this cheap energy. This should cause your power bill to skyrocket.
The number of Americans (and non-Americans) on food stamps is up, from 28 million in 2008 to 44.7 million today. The number of Americans on disability is up to 9 million and setting a new record each month.
The rate of economic growth is down to 1.3 percent. The gross domestic product growth rate under President Obama is on course to be the worst economic growth rate since record-keeping began. American household income is down by 7 percent since 2009. Health-insurance premiums for families are up by $3,000, or 24 percent, since 2008.
The number of apologies from America to other countries is up. Federal spending is up from a 40-year average of 20 percent of GDP to more than 24 percent under Obama. The number of federal employees making more than $150,000 per year jumped from 1,800 to more than 10,000 under Obama, along with the size of the federal work force.
The number of Americans living below the poverty line is up to 46.2 million, the highest level since record-keeping began. The number of Americans with an “Obama phone” is up to 12.5 million with a cost that has gone from $772 million in 2008 to $1.6 billion today.
The size of the federal deficit is up – way up.
Hope is down. Many have lost hope. I could go on, but space is limited. We must have a change in November.
North Augusta, S.C.