We know Obama loves the poor, because he has created so many of them. Poverty has soared under Obama, with the number of Americans in poverty increasing to the highest level in the more than 50 years that the Census Bureau has been tracking poverty. Over the last 5 years, the number in poverty has increased by nearly 31%, to 49.7 million, with the poverty rate climbing by over 30% to 16.1%. Obama has also been the food stamp President, with the number on food stamps increasing during his Administration to an all time record high of 47.7 million, up 80% over the past 5 years.
This is all because there has been no real economic growth under President Obama, even though America was coming out of the recession in his first year, and so economic growth should have been higher than normal. Economic growth is the foundation for job creation, and is far more beneficial than redistribution for the middle class and the poor, who will never gain when there is a shrinking pie. Over the last 5 years, the economy has grown at an average annual rate of 0.6%, less than one fifth the long term American growth rate.
Sure there was a recession in 2008-2009. But the economy is supposed to come booming out of the downturns, averaging back out to the long-term American growth rate. But that hasn’t happened under Obamanomics. That is the core failure of President Obama.
Instead, in the fourth quarter of 2012, 5 years after the recession started, the economy was contracting again, with negative growth. One more quarter of that, and we will be back in recession, with the Fed already laying the groundwork for worse after that. The supposedly progressive Obama is leading us back into an historical reenactment of the 1930s.
read more....... http://www.forbes.com/sites/pe...he-great-depression/
