OXFAM reported that during Obama’s terms, 95% of the wealth created went to the top 1% of the world’s wealthy.
This economy is definitely not Obama’s recovery
https://nypost.com/2018/09/12/this-economy-definitely-is-not-obamas-
recovery
recovery
Barack Obama is trying to take credit for the booming economy under President Trump. “When you hear how great the economy is doing right now,” Obama said on the campaign trail for Democratic candidates a few days ago, “let’s just remember when this recovery started.”
By this logic, the Kingston Trio laid the groundwork for the Beatles.
But the contrast in economic performance between the two presidents is undeniable. Obama’s multitrillion-dollar spend-and-borrow policies produced 2 percent growth. In his final year, Obama handed off to Trump an economy that was limping at 1.6 percent.
After only 18 months in office, Trump has elevated growth to 3 percent on an annual rate and the latest projections are that the growth rate for the second and third quarter (which ends Sept. 30) will be over 4 percent. One might say all it took to get the economy really crackling was getting Obama out of office.
Obama is right that this has been a long recovery — beginning in June 2009. But the real economic boom started almost the day after the election in 2016 with the surge in small business, investor and consumer confidence.
No one on the left, least of all Obama, thought this was remotely possible.
Two years ago, Obama famously ridiculed Trump’s campaign promise of faster growth and a comeback in manufacturing jobs by saying this could only happen if Trump was waving “a magic wand.” Obama’s first chief economist, Larry Summers, proclaimed to the world that 2 percent was the best we could hope for. Other liberal economists were so disdainful of Trump’s tax cuts, deregulation and energy development that they predicted Trump would crash the world economy and the stock market.
It’s a little early to be declaring Trump’s policies a “miracle,” as Trump has boasted. All we can say is whatever he’s doing, it’s working.
And that Obama’s economic experiment of Keynesian economics on steroids was a profound disappointment. It began with the $830 billion stimulus plan, and then cash-for-clunkers, bailouts, ObamaCare, tax hikes on the rich, minimum-wage hikes and a wave of financial and economic regulations. All told, the national debt nearly doubled in eight years.
Meanwhile, the Obama recovery was remarkably flimsy. In 2015, the Joint Economic Committee of Congress found that compared to the eight previous post-recession events, “the Obama recovery was the weakest on record.”
The recovery was so shallow that had Obama merely achieved a normal pace of recovery, personal income in 2014 would have been $3,200 higher. If the economy had matched the Reagan trajectory, GDP in 2016 would have been almost $3 trillion larger (equivalent to the combined GDP of Michigan, Ohio and Pennsylvania).
Even as measured by the left’s favorite metric, “economic fairness,” the policies failed. The index of income inequality rose nearly every year under Obama.
While Silicon Valley, Hollywood, Washington, DC, Wall Street and the energy states did spectacularly well (thanks to shale oil and gas), in the Rust Belt regions of the country — from upstate New York to Ohio and Wisconsin, West Virginia and Kentucky — family incomes remained flat at best. On the campaign trail, I often asked folks in small towns across the Midwest about the Obama recovery, and their response was: What recovery?
Trump didn’t just run against Hillary Clinton and her closet overflowing with scandals, but the meager Obama economy as well. He ran against the runaway costs of ObamaCare. He ran against the regulatory assault, the tax hikes, unpopular trade deals and climate-change fanaticism. He ran against hopelessness, against opioid addiction, the $10 trillion rise in the national debt and income stagnation.
One time during the campaign, Larry Kudlow, Steve Miller and I held an impromptu discussion with Trump about economic strategy. Miller summarized the game plan to Trump succinctly: “Donald, just look at all the things that Obama has done on the economy over the past eight years, and then do just the opposite.”
Trump has done pretty much just that — which explains why the Trump boom is an everyday reminder of the Obamanomics failure.
Stephen Moore is a senior fellow at the Heritage Foundation and a former senior economic adviser to the Trump campaign. His new book, “Trumponomics,” will be published next month.
GLOBALIST FOR BANKSTERS AND THE SUPER RICH and
OPEN BORDERS TO FINISH OFF THE AMERICAN MIDDLE-CLASS.
http://mexicanoccupation.blogspot.com/2018/09/barack-obama-and-his-muslim-style.html
“Democrats Move
Towards ‘Oligarchical Socialism,’ Says Forecaster Joel Kotkin.”
http://mexicanoccupation.blogspot.com/2018/05/matthew-vadum-spies-like-obama.html
Now the outlines of a Watergate-like conspiracy are
emerging in which a sitting Democrat president apparently used the apparatus of
the state to spy on a Republican presidential candidate. Watergate differed in
that President Nixon didn’t get involved in the plot against the Democratic
National Committee until later as an accomplice after the fact. Here Obama
likely masterminded or oversaw someone like the diabolical Benghazi cover-up
artist Ben Rhodes, masterminding the whole thing.
OBAMA'S
ASSAULT ON AMERICA -WHY WALL STREET, ILLEGALS, CRIMINAL BANKSTERS and the 1%
LOVE HIM, AND THE MIDDLE CLASS GETS THE SHAFT TO PAY FOR HIS CRONY CAPITALISM
CEO
pay is higher than ever, as is the chasm separating the rich and super-rich
from everyone else. The incomes of the top 1 percent grew more than 11 percent
between 2009 and 2011—the first two years of the Obama “recovery”—while the
incomes of the bottom 99 percent actually shrank.
Meanwhile, Obama is pressing forward with his
proposal, outlined in his budget for the next fiscal year, to slash $400
billion from Medicare and $130 billion from Social Security… AS WELL AS WIDER
OPEN BORDERS, NO E-VERIFY, NO LEGAL NEED APPLY TO KEEP WAGES DEPRESSED
THE RISE TO POWER OF BANKSTER-OWNED BARACK
OBAMA
'Incompetent' and 'liar' among most frequently
used words to describe the president: Pew Research Center
The larger fear is that Obama might be just
another corporatist, punking voters much as the Republicans do when they claim
to be all for the common guy.
BARACK OBAMA, LA RAZA FASCISM and the CULTURE
of DEM CORRUPTION
They Destroyed Our Country
“They knew Obama was an unqualified crook; yet
they promoted him. They knew Obama was a train wreck waiting to happen; yet
they made him president, to the great injury of America and the world. They
understood he was only a figurehead, an egomaniac, and a liar; yet they made
him king, doing great harm to our republic (perhaps irreparable.)”
CHICAGO HUCKSTER or simply a PSYCHOPATH?
BARACK OBAMA
GLOBALIST FOR BANKSTERS AND THE SUPER RICH and
OPEN BORDERS TO FINISH OFF THE AMERICAN MIDDLE-CLASS.
http://mexicanoccupation.blogspot.com/2018/09/barack-obama-and-his-muslim-style.html
“Democrats Move
Towards ‘Oligarchical Socialism,’ Says Forecaster Joel Kotkin.”
BY MEXICO – THE FIRST BLACK MAN OR THE
FIRST SPY ELECTED TO THE PRESIDENCY???
http://mexicanoccupation.blogspot.com/2018/05/matthew-vadum-spies-like-obama.html
Now the outlines of a Watergate-like conspiracy are
emerging in which a sitting Democrat president apparently used the apparatus of
the state to spy on a Republican presidential candidate. Watergate differed in
that President Nixon didn’t get involved in the plot against the Democratic
National Committee until later as an accomplice after the fact. Here Obama
likely masterminded or oversaw someone like the diabolical Benghazi cover-up
artist Ben Rhodes, masterminding the whole thing.
"Cold War historian Paul Kengor goes deeply into Obama's communist background in an article in American Spectator, "Our First Red
Diaper Baby President," and in an excellent Mark Levin interview. Another Kengor article describes the Chicago communists whose younger generation include David
Axelrod, Valerie Jarrett, and Barack Hussein Obama. Add the openly
Marxist, pro-communist Ayers, and you have many of the key
players who put Obama into power." Karin McQuillan
OBAMA’S CRONY BANKSTERISM destroyed a 11 TRILLION
DOLLARS in home equity… and they’re still plundering us!
Barack Obama created
more debt for the middle class than any president in US
history, and also had
the only huge QE programs: $4.2 Trillion.
OXFAM reported that during Obama’s
terms, 95% of the wealth created went to the top 1% of the world’s wealthy.
PATHOLOGICAL LIAR BARACK
OBAMA MOCKS TRUMP
Obama orchestrated the
greatest transfer of wealth to the rich in U.S. history!
THE WALL STREET BOUGHT
AND OWNED DEMOCRAT PARTY
SERVING BANKSTERS,
BILLIONAIRES and INVADING ILLEGALS
THE CRONY CLASS:
Income inequality grows FOUR TIMES FASTER under
Obama than Bush.
“By the time of Bill Clinton’s election
in 1992, the Democratic Party had completely repudiated its association with
the reforms of the New Deal and Great Society periods. Clinton gutted welfare
programs to provide an ample supply of cheap labor for the rich (WHICH NOW
MEANS OPEN BORDERS AND NO E-VERIFY!), including a growing layer of black
capitalists, and passed the 1994 Federal Crime Bill, with its notorious “three
strikes” provision that has helped create the largest prison population in the
world.”
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