Barack Obama has set a number of economic records during his Presidency… but none of them are worth being proud of.
The national debt is at an all time high, and will come close to topping $20 trillion by the time he leaves office. He nearly became the first president to ever go throughout his entire presidency without a single quarter where economic growth topped 3%, if it wasn’t for the third quarter of 2016, where the economy grew 3.2%. The percentage of Americans in the workforce is at its lowest level since the 1970s – and we saw the slowest economic recovery since WWII, so clearly Obama’s stimulus didn’t stimulate anything aside from the national debt.
And here’s the most sinister “record” he’s set – destroying the American dream. In America, your children are supposed to have a brighter future than you have… and after eight years of his presidency, that’s no longer the case.
If you look at kids born in the 1940s, in the 1950s and compare their incomes at age 30 to what their parents were earning at age 30, adjusting for inflation, you find that 90 percent of them were earning more than their parents. But when you look at kids born in the 1980s, kids turning 30 today, that number has dropped to 50 percent. It’s basically a coin flip as to whether you will do better than your parents for the current generation.
Over the course of this past year, people on both the political right and left have argued that the American dream is no longer true. And now there’s a growing body of academic research supporting that argument with data. A new paper published this month says that in fact, fewer American children are making more than their parents did.
That’s the result of eight years of “hope and change.” Most of us now have no hope – and only pocket change.
Aren’t you glad we elected Donald Trump to fix this man’s disaster? America could use a turnaround CEO. Share this post on Facebook and Twitter!