Since February of 2009, the first full month of Obama’s presidency, 9.5 million Americans have dropped out of the labor force. Nearly 90 million Americans are not working today!
That means that 1.3 Americans have dropped out of the labor force for every one job the administration claims to have created.
There are 15 million more Americans on food stamps today than when Obama assumed office.
At the end of January 2009, 32,204,859 Americans received aid from the Supplemental Nutrition Assistance Program. As of April 2013, there were 47,548,694 Americans on food stamps.
That means that more than two Americans have been added to the food stamp rolls for every one job the administration says it has created.
There is no recovery.
There will be no recovery any time soon.
Despite the rhetoric out of Washington, the Fed and mainline financial pundits, this economy is on the brink of complete disaster.
It didn’t take a Nobel Prize winning Keynesian economist like Paul Krugmann to see this one coming. It only takes a working knowledge of basic arithmetic.
If your mortgage payment is $1500 monthly, and you just lost your job and are collecting $800 in unemployment insurance monthly, then it is impossible for you to make good on your loan. Even if the government helps to reduce your mortgage payment to $850 monthly and provides you with emergency funds to cover all of your other expenses like food, health insurance and utilities, you still can’t service your debt.
It’s that simple.
The situation for America is dire.
According to the June 2013 jobs report, less than half of able-bodied Americans have a full time job.
The following report further illustrates the problem(s) we face.
Two food stamp recipients have been added for every job ‘created’ under President Obama’s watch:
Unemployment is a ticking time bomb, and no mortgage modification is going to help if the home owner lost his or her income stream. Real estate will continue to collapse because of continued job destruction despite what we are being told about recovery. Couple this with rising costs for essential goods, a collapse in retail consumer lending and increased taxes, and I’d say hopes of recovery are just that… hopes.
For those who live in reality, it’s obvious that the American people are living in the Greatest Depression.
Via SHTFplan (October 21, 2009)
More of Death to America by way of liberalism: