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33 Shocking Facts Which Show How Badly The Economy Has Tanked Since Obama Became President

Obama Follow MeBarack Obama has been running around the country taking credit for an "economic recovery", but the truth is that things have not gotten better under Obama.  Compared to when he first took office, a smaller percentage of the working age population is employed, the quality of our jobs has declined substantially and the middle class has been absolutely shredded.  If we are really in the middle of an "economic recovery", why is the homeownership rate the lowest that it has been in 18 years?  Why has the number of Americans on food stamps increased by nearly 50 percent while Obama has been in the White House?  Why has the national debt gotten more than 6 trillion dollars larger during the Obama era?  Obama should not be "taking credit" for anything when it comes to the economy.  In fact, he should be deeply apologizing to the American people.

And of course Obama is being delusional if he thinks that he is actually "running the economy".  The Federal Reserve has far more power over the U.S. economy and the U.S. financial system than he does.  But the mainstream media loves to fixate on the presidency, so presidents always get far too much credit or far too much blame for economic conditions.

But if you do want to focus on "the change" that has taken place since Barack Obama entered the White House, there is no way in the world that you can claim that things have actually gotten better during that time frame.  The cold, hard reality of the matter is that the U.S. economy has been steadily declining for over a decade, and this decline has continued while Obama has been living at 1600 Pennsylvania Avenue.

It is getting very tiring listening to Obama supporters try to claim that Obama has improved the economy.  That is a false claim that is not even remotely close to reality.  The following are 33 shocking facts which show how badly the U.S. economy has tanked since Obama became president...

#1 When Barack Obama entered the White House, 60.6 percent of working age Americans had a job.  Today, only 58.7 percent of working age Americans have a job.

#2 Since Obama has been president, seven out of every eight jobs that have been "created" in the U.S. economy have been part-time jobs.

#3 The number of full-time workers in the United States is still nearly 6 million below the old record that was set back in 2007.

#4 It is hard to believe, but an astounding 53 percent of all American workers now make less than $30,000 a year.

#5 40 percent of all workers in the United States actually make less than what a full-time minimum wage worker made back in 1968.

#6 When the Obama era began, the average duration of unemployment in this country was 19.8 weeks.  Today, it is 36.6 weeks.

#7 During the first four years of Obama, the number of Americans "not in the labor force" soared by an astounding 8,332,000.  That far exceeds any previous four year total.

#8 According to the U.S. Census Bureau, the middle class is taking home a smaller share of the overall income pie than has ever been recorded before.

#9 When Obama was elected, the homeownership rate in the United States was 67.5 percent.  Today, it is 65.0 percent.  That is the lowest that it has been in 18 years.

#10 When Obama entered the White House, the mortgage delinquency rate was 7.85 percent.  Today, it is 9.72 percent.

#11 In 2008, the U.S. trade deficit with China was 268 billion dollars.  Last year, it was 315 billion dollars.

#12 When Obama first became president, 12.5 million Americans had manufacturing jobs.  Today, only 11.9 million Americans have manufacturing jobs.

#13 Median household income in America has fallen for four consecutive years.  Overall, it has declined by over $4000 during that time span.

#14 The poverty rate has shot up to 16.1 percent.  That is actually higher than when the War on Poverty began in 1965.

#15 During Obama's first term, the number of Americans on food stamps increased by an average of about 11,000 per day.

#16 When Barack Obama entered the White House, there were about 32 million Americans on food stamps.  Today, there are more than 47 million Americans on food stamps.

#17 At this point, more than a million public school students in the United States are homeless.  This is the first time that has ever happened in our history.  That number has risen by 57 percent since the 2006-2007 school year.

#18 When Barack Obama took office, the average price of a gallon of regular gasoline was $1.85.  Today, it is $3.53.

#19 Electricity bills in the United States have risen faster than the overall rate of inflation for five years in a row.

#20 Health insurance costs have risen by 29 percent since Barack Obama became president, and Obamacare is going to make things far worse.

#21 The United States has fallen in the global economic competitiveness rankings compiled by the World Economic Forum for four years in a row.

#22 According to economist Tim Kane, the following is how the number of startup jobs per 1000 Americans breaks down by presidential administration...

Bush Sr.: 11.3

Clinton: 11.2

Bush Jr.: 10.8

Obama: 7.8

#23 In 2008, that total amount of student loan debt in this country was 440 billion dollars.  At this point, it has shot up to about a trillion dollars.

#24 According to one recent survey, 76 percent of all Americans are living paycheck to paycheck.

#25 During Obama's first term, the number of Americans collecting federal disability insurance rose by more than 18 percent.

#26 The total amount of money that the federal government gives directly to the American people has grown by 32 percent since Barack Obama became president.

#27 According to the Survey of Income and Program Participation conducted by the U.S. Census, well over 100 million Americans are enrolled in at least one welfare program run by the federal government.

#28 As I wrote about the other day, American households are now receiving more money directly from the federal government than they are paying to the government in taxes.

#29 Under Barack Obama, the velocity of money (a very important indicator of economic health) has plunged to a post-World War II low.

#30 At the end of 2008, the Federal Reserve held $475.9 billion worth of U.S. Treasury bonds.  Today, Fed holdings of U.S. Treasury bonds have skyrocketed past the 2 trillion dollar mark.

#31 When Barack Obama was first elected, the U.S. debt to GDP ratio was under 70 percent.  Today, it is up to 101 percent.

#32 During Obama's first term, the federal government accumulated more new debt than it did under the first 42 U.S presidents combined.

#33 When you break it down, the amount of new debt accumulated by the U.S. government during Obama's first term comes to approximately $50,521 for every single household in the United States.  Are you able to pay your share?

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  • les

    this guy is a BS tea party fear monger.Bush and republicans are totally responsible for this. Obama inherited the planned facist republican mess.And they won,t let him fix it. Beware of wolf,s in sheeps clothing, meaning here the author.

    • John Williams

      Obama said he fixed it in 2009. Remember the summer of recovery that never happened? Remember Obama and Biden traveling around the country to the the solar/wind plants and the 5 million green jobs he promised. You know, that multiple billions of tax payer dollars flushed down the toilet?

      So tell us, what is it that Obama wants to do that “they” won’t let him do? Pay laid off Americans to dig holes and fill them back up? Spend more money? Raise taxes?

    • AddisonDewitt

      tool…march step boy march step

  • sue sue

    My liberal’s friend believed that I am a black president’s haters. Um, I don’t hate the president because he’s black. I hate his ideology and his stupid policies. Um, I’m a minority so, I know how it feels to be a minority. But, this has nothing to do with minority or not. To me, I think my friend is completely brained wash. To my opinion, under Obama’s terms, economy is worst by the minutes.

  • Joshua

    If you add in the unfunded liabilities of the Federal Government, our debt per person is $1.1 million. Quite the steep jump.

  • waterflaws

    Bush II, Obama, Romney, Clinton; they ALL work for the SAME people, and it’s NOT you and me. Your list, pretty much baselessly, blames it all on “Obama”, which is deceptive, and only serves to rile people (the Right Wing) up against Obama. This detracts from the TRUE creators of this mess and tends to neuter effective action against them. The GOP and “The Tea Party” are creatures of the ruling elite, and offer NO SOLUTIONS to our problems (and the Democratic Party isn’t “better” enough to support, either).
    1) Trickle down NEVER worked.
    2)Taxes for most (especially The Rich and Corporate) haven’t been this LOW in DECADES.
    3)The Military has become a juggernaut.
    4)Regulation of the private sector is minimal because of new de-regulation and lack of enforcement of existing laws.
    5)The “banking”/investment sector is also a juggernaut, wreaking havoc in the “lower classes”.
    etc. etc.

    • Lee Roggenburg

      You need to re-read the article above the list. Nowhere does he BLAME Obama for these numbers, he even puts the onus on the Fed, not Obama. His point is that based on these facts the economic progress is not there. And it’s kind of hard to argue otherwise. He just thinks its ridiculous to claim the economy is getting a lot better, and I suspect if a Republican were President now the article would read the same exact way.

  • Jack Collins

    #4 is blatantly false. The American medium income is still around 50k.

    • Lee Roggenburg

      FAMILY median income is around your number, not individual income. Most households have more than one wage earner.

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