Obamanomics – 4 out of 5 US Adults Will Be Impoverished at Some Time



Photo via tea party tribune

The globalized US economy, the widening gap between rich and poor, and the loss of manufacturing jobs overseas is causing 4 out of 5 adults to struggle with joblessness, near poverty, and reliance on government handouts for at least part of their lives according to the AP.

Poverty among whites is growing significantly and 63% of white Americans see the economy as poor. The gap between racial and ethnic minorities has narrowed considerably. Whites have a bleak view of economic fairness since Obama took office and the alienation could increase if nothing is done.

Poor whites, “the invisible poor,” are spread out across America is suburbs and small rural towns. More than 19 million whites fall below the poverty line and they account for more than 41% of the nation’s destitute, almost double the number of poor blacks. Almost 76% of whites endure periods of joblessness or a life on welfare though nonwhites are at higher risk at 90%.

Risk of poverty has increased among people between the ages of 35-55 as income inequality broadens.

By 2030, if income inequality continues to widen (destruction of the middle class), close to 85% of all working-age adults in the US will experience periods of economic difficulty.

The number of white-single-mother households living in poverty with children has surpassed or equaled blacks.[How is that much-touted liberal concept of the beauty of single motherhood working out for us?]

Children living in poverty has grown though black children in high-poverty has dropped from 43% to 37% while Latino children have gone from 38% to 39%.

Obama, who has come back at various points in his administration to claim he wants to reverse the trend, only to rack up more debt, offered nothing new in his latest speech. It was the usual generalized cliches and attacks on opponents. He wants more “investments” (spending and taxes) despite the fact that it has not worked in five years.

Obamacare, his signature piece of legislation, has increased the cost of healthcare in this country.

We now spend 40% more money than we take in. We are borrowing from Communist nations.

In this video, Obama mentions the Farm Bill which was actually more than 80% welfare funding. He also lies about having cut the deficit in half when he in fact ran up more than a trillion dollars in deficit spending each year he has been in office.

The man in this video screaming out supportive comments from the audience is undoubtedly a plant. How stupid does he think we are? A handful of college Republicans are denied admittance but this bellicose participant is allowed in.

The findings are from survey data exclusive to the  Associated Press.