Some people will point out that Obama is leaving with a 50% favorability rating ... but does his record warrant it? I will just focus on the economy and ignore the other issues such as foreign policy and allowing the massive flood of third world immigration into our country and all the negatives associated with those two points.
THE ECONOMY
The past 8 years we have seen a massive hollowing out of the economy.
1. Real incomes have fallen by 7 percent.
2. Home ownership at ALL time low
3. Lowest labor participation rate in 40 years
4. The greatest surge in Public and Private debt in the history of the US. However, the debt was solely used for financial engineering and not productive Investments
5. Government debt exceeding 100% of GDP for the first time since WW2
6. Weakest recovery in modern history. If the US deficit spending was removed: the economy has actually been decreasing at an annual rate of 2.4% over the past 8 years.
9. US total credit market debt of the GDP has risen to 365% from 260% from 8 years ago ... the highest recorded in US History ( This means the consumer, govt and corporate world are living well beyond their means ) The borrowing from future consumption has reached a level that is no longer sustainable.
The legacy of Obama has been the creation of a financial bubble FAR greater than the 2008/2009 Mortgage bubble.
THE ECONOMY
The past 8 years we have seen a massive hollowing out of the economy.
1. Real incomes have fallen by 7 percent.
2. Home ownership at ALL time low
3. Lowest labor participation rate in 40 years
4. The greatest surge in Public and Private debt in the history of the US. However, the debt was solely used for financial engineering and not productive Investments
5. Government debt exceeding 100% of GDP for the first time since WW2
6. Weakest recovery in modern history. If the US deficit spending was removed: the economy has actually been decreasing at an annual rate of 2.4% over the past 8 years.
9. US total credit market debt of the GDP has risen to 365% from 260% from 8 years ago ... the highest recorded in US History ( This means the consumer, govt and corporate world are living well beyond their means ) The borrowing from future consumption has reached a level that is no longer sustainable.
The legacy of Obama has been the creation of a financial bubble FAR greater than the 2008/2009 Mortgage bubble.
