Originally posted by wright35633:
At least I feel like our financial situation is a lot better.
Where do you buy gas and groceries?
Is that your only measure of an economy ?
I have a somewhat larger picture, so lets look at this:
> During the Bush admin, my 401K steadily decreased in value until it was about 60% of it's former self. Since Obama has been president, it has recovered all it's loss and is about 30% more than it was before the Bush reign of ruin.
> I hold some individual stock, which stopped paying dividends in 2008. They announced in Jan that they have become profitable enough to resume paying dividends starting Q1. (I'm looking forward to my dividend check next week)
>During the Bush reign, in 2007 we started loosing jobs and that loss peaked in 2008. Since Obama has been in, job losses declined, and by the end of 2009 jobs were actually being added to the market. Not enough mind you, but adding jobs is far better than loosing jobs.
>When Obama took office, the American automotive industry was just about to go belly up. The bail-out, opposed by virtually all Republicans, has apparantly been a success, GM has paid back all the borrowed money, and has had an IPO, and will slowly sell stock currently owned by the US and will pay it back as well. I don't know the status of Crysler but their adds say they are back as well. Knowing how much of our economy is based on the automobile , there is little doubt that had GM and Crisler gone belly up, tens of thousands of people would have lost their jobs.
In reality , this has turned out to be a very successful endeavorer.
>GDP - grew at 3.1% Q4 2010
>Inflation - Core up just 1.1% BUT food and energy gaining fast (what you said)
>Retail Sales - 1% gain from prior month
> Job Growth - Strong gains and drop in the UI rate.
>Manufacturing - Highest level since May 2004
> Home Prices - Big drop and could fall more
> Consumer Confidence - Spikes to 3 year high.
: From chart at http://money.cnn.com/news/economy/
While there are some areas that are still hurting, compared to where we were at the end of 2008 , I would be willing to double down on my statement that the financial situation of our country is a LOT better. Seems self evident to me which is probably why I made such a short statement and didn't try to offer any backup for saying that.