Thank you Obama, it’s all your fault
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30-11-2016, 10:15 AM
RE: Thank you Obama, it’s all your fault
(30-11-2016 08:42 AM)BryanS Wrote:  
(30-11-2016 07:06 AM)Full Circle Wrote:  What has changed since 2008? Is it really as bad as the talking heads say it is? What calamities has the Obama administration presided over? Inquiring minds want to know.
The link has an easier layout to read

By the numbers:

The Obama Economy
Third-quarter 2008 - Third-quarter 2016 = Verdict

Gross domestic product (2009 dollars) $14.892 trillion $16.713 trillion Up 12%

30-year mortgage loan rate 6.46% 3.54% Nearly halved

Nonfarm payrolls 136.3 million 145.0 million Up 8.7 million

Uninsured (health) 45 million 27 million Down 18 million

Exports (2009 dollars) $1.766 trillion $2.163 trillion Up 22%

Un- and under-employed rate (U6) 11.8% 9.5% Down 20%

Median household income $50,303 $57,929 Up 15%

Manufacturing output per worker (2009 dollars) $382,977 $436,776 Up 14%

Dow Jones Industrial Average 9,319 18,332 Nearly doubled

"Of course, this isn’t all about the president (or Congress, for that matter). Growth mainly comes from the private sector — from entrepreneurs and workers. But presidents and governments play a role. They can foster an environment in which growth occurs. Or they can screw things up. If people blame President Obama for bad economic news, then they do really need to give him some credit for the good.”

With this being said, here’s to you Mr. President. Nice work.

You have to take into account inflation, and that you are measuring from the point of the very bottom of the recession from the real estate bust.

Here is a graph of inflation adjusted median houshold income (from wiki, so presumable not a partisan source of date)

[Image: US_GDP_per_capita_vs_median_household_income.png]

Imagine you are someone who has seen their household income decrease while the economy continues to grow as most Americans have experienced since about 1999, and you will better understand the frustration of voters. Neither party has had an answer to this problem--globalization and free trade eroding working class incomes--and so it is not at all surprising that voters who heard a protectionist message this election cycle gravitated towards the candidates (Bernie and Trump) who offered it.

Point taken. As the article says administrations play a role in setting up the environment for business to thrive.

“I am quite sure now that often, very often, in matters concerning religion and politics a man’s reasoning powers are not above the monkey’s.”~Mark Twain
“Ocean: A body of water occupying about two-thirds of a world made for man - who has no gills.”~ Ambrose Bierce
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30-11-2016, 10:18 AM
RE: Thank you Obama, it’s all your fault
I was excited about the social gains that were made. Gay marriage legalization, improved global perception of America/Americans, women's rights back in discussion...

I felt like real progress was being made, like Americans were ready to move beyond 1950s white, middle-class nostalgia. How freaking wrong I was!

"If you don't have a seat at the table, you're probably on the menu."

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30-11-2016, 10:44 AM
RE: Thank you Obama, it’s all your fault
(30-11-2016 09:38 AM)BryanS Wrote:  
(30-11-2016 08:48 AM)Gawdzilla Wrote:  I notice the decline in real income started in the previous misadministration.

Yes, the problem is much bigger than any one administration. As I say, neither party has offered a solution to the problem. That was why the mood of the electorate was "pox on both your houses", and the one perceived as an outsider won the election. In hindsight, the Democratic tilting of the nomination process in favor of Clinton, the epitome of the establishment, was a big mistake.
It's actually bigger than one country, but ...
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