Photo caption is an actual quote by President Obama: ‘I’m driving now, if those Republicans want to come along for the ride they’ll have to sit in the back.” If he’s driving, why won’t he take credit for it after more than 4 and 1/2 years?
Usually when plans fail, the person-in-charge doesn’t double down and make it worse, but not so with Mr. Obama. He believes the reasons for the problems in the United States are not the result of his policies but the result of not enough of them, when he admits he has policies that is.
Take his latest record-breaking firsts and decide if you would like more.
1. The median income has dropped every year Mr. Obama has been in office. Since 2008, it has dropped $2,627. The total number of people living in poverty are 46,496,000, twice the population of Syria, reports CNS News
2. SNAP – food stamps – has a record number of American households enrolled according to CNS News reports. There are more people are on food stamps than all households in the Northeastern United States.
3. A record number $90,473,000 are now out of the work force in our country of a little over 300,000 million people. It is up 10 million under Obama.
4. Seven times as many part-time jobs for every full-time job were created under Obama, in no small part due to Obamacare which penalizes employers for giving more than 30 hours per week to employees by making employers pay for their healthcare.
5. The number of weeks on unemployment has gone from 19.8 weeks to 36.6 weeks thanks to the increase in the number of weeks people are allowed to collect. That was Mr. Obama’s solution to unemployment.
6. Black unemployment continues to go up. It rose to 13% last month.
7. The immigration bill pushed through the Senate claims that illegal aliens who are legalized will all have to get jobs but it leaves out the fact that the dependents of illegal persons, who will also be legalized by the bill, will not.
8. Under Obama, the increase in job employment was 52% greater for foreign-born workers than for native-born citizens in this country, reports CNS News.
9. McDonald’s is pleading for an exemption from the 30-hour work week, according to The Hill. Warren Buffet, a leading supporter and fundraiser for Barack Obama says we need to dump Obamacare and start over. Union leaders are demanding changes in the work week requirement under Obamacare. They are very concerned about the taxes of 40% to be levied on their Cadillac health insurance plans.
10. For the 1,000 straight day, gas has averaged over $3 a gallon. The AAA CEO said gas will never be below $3 a gallon again. The rapid increase in the Chinese economy, which we are helping to fuel, is partly responsible – law of supply and demand. It was $1.85 when Mr. Obama came into office.
11. Another record under Obama is the gap in employment rates with those earning less than $20,000 topping 21% almost matching that of workers during the Great Depression. The rich are getting richer under Obama. According to Business Insider, the net worth of the 7% richest American households rose in wealth by 28%, in no small part due to the $85 billion in QE bailouts Bernanke has pumped into the system, enabling Wall Street to capitalize on it, increasing their wealth. The middle class is eroding its wealth – 93% of American households lost under Obama.
12. Twenty-four years ago, the median income was more than $600 higher than it is now at $51,017.
13. Housing policies under Obama are not solving the problem. His interference in the housing market includes his Troubled Asset Relief Program. So far, since 2009, nearly half of the homeowners who re-negotiated their mortgages are now in default again, reports cnbc.
Bloomberg informs us that for blacks, 18 years of economic progress has vanished and the dream purchasing their own homes has slipped out of their reach. Their unemployment rate is twice that of whites. Homeownership for blacks has fallen from 50% to 43% last quarter. The rates for whites has stopped falling.
Blacks were hit harder by the housing bubble. The reason is somewhat complicated. Almost 40% of borrowers took out loans they couldn’t afford with minority home purchasing helped along with reduced eligibility requirements for credit scores and down payments. They received lower interest rates than non-minorities.
The Fair Housing Act of 1968 and the Equal Credit Opportunity Act of 1974 banned discrimination in lending and home sales based on race and national origin. In 1977, the Community Reinvestment Act bolstered that by guaranteeing banks would actively loan money to ‘credit-worthy borrowers’ in low-income areas.
Obama’s first programs to help homeowners was to spin off with loan modifications, refinancing into lower-cost loans and billions in funding with 60% used in minority areas. The plan was to rebuild uninhabitable homes for first-time buyers in poor neighborhood and high crime areas like the south side of Chicago and Baltimore. The trouble is they are still poor, high-crime areas which are the reasons they are still defaulting.
The Obama administration is blaming banks for their ‘predatory’ lending practices because the homes are going into default and the banks loaned money to people who couldn’t keep up the payments even with all the modifications and assistance. On the other hand, if they don’t do it, they are accused of discrimination and are subjected to a negative PR blitz aimed at destroying non-compliant banks.
The people in these communities need jobs, the children need to stay in school, the gangs need to be broken up, and they need functioning parents.
Mr. Obama has yet another plan to solve the problem of minority home ownership. He will accelerate his social engineering plans even though they haven’t worked so far. He is now mapping every neighborhood in the country and will redistribute the assets of the areas that are not poor to the poor by giving the poor access to schools, homes, and whatever else he can come up with in the more fortunate areas.
14. Our nation, according to the recently released report by the CBO is on an unsustainable path. Mr. Obama will not address the real problem – entitlements. In fact, he’s added more, including Obamacare. We now have to pay for everyone’s every medical need. Instead of devising a plan to help Americans with catastrophic care, Mr. Obama destroyed our entire medical system.
15. Enrollment in Social Security Disability now outpaces job growth. The SSA has lowered the standards to collect. They now include back problems, stress-related illnesses, and people who are bipolar.
16. Fifty-three percent of all Americans now make less than $30,000 per year.
17. Manufacturing jobs have gone from 12.5 million jobs to 11.9 million. Many jobs are going to China. In 2008, the U.S. trade deficit with China was 268 billion dollars. Last year, it was 315 billion dollars. Check out more on the economic collapse blog.
18.Under Mr. Obama, the federal government has accumulated more debt than under the first 42 presidents combined.
19. In August 2011, Mr. Obama saw the first downgrade of the US credit rating in our history for failing to cut spending or raise revenue. He certainly does do his best to raise revenue through taxation, I will give him that.
20. Mr. Obama is arming terrorists in Syria. You want to know how I know? He had to lift the ban on supplying arms to terrorists to supply our ‘allies’ in Syria. The Washington Examiner has that story.
21. In three years, Mr. Obama played over 100 rounds of golf. That has to be some kind of first for a president. He is going to surpass his own golfing record of 2011 this year. He particularly likes to play during times of crisis and that might be why his number of golfing excursions is picking up.
Mr. Obama’s take is quite different: