Posted by Brian
President Obama is now hitting uncharted territory with, possibly, the most delusional statement he's yet made on the economy. He can't possibly believe the crap that falls out of his mouth, so I'm can only conclude that this President, and this administration, believe that the American people are stupid enough to believe this tripe.
Let's see how well Obama's economic plan has worked:
Unemployment (U-3) - steady at 8.2% (up from 8.1 in Apr)
Underemployed (U-6) - rose to 14.9%
Long Term Unemployment (> 27 weeks) 5.4 million or 41.9% of all unemployed
Discouraged workers - no longer looking: 821,000
Labor Force Participation: 63.8%
Americans who have left labor force: 8.6 million
Americans on Food Stamps (Apr2012): 46.2 million (1 in 7 Americans)
US GDP (1st Qtr 2012): 1.9% (Historical 3.25%) - GDP under 3% 6 of last 7 Qtrs (3% - 4th Qtr 2011)
In addition to all of the sunshine shown above, since June 2009 inflation adjusted income has plummeted under Obama by 6.7%. That is, the money you do make buys less.
I wonder what the numbers would look like if Obama's plan didn't work?
Obama on the economy: ‘We tried our plan — and it worked’
July 24, 2012
Discussing his economic policies at a fundraiser in Oakland, California, last night, President Obama, told supporters that “we tried our plan — and it worked.”
“We tried that and it didn’t work,” Obama said of Mitt Romney’s proposed tax cuts and spending cuts, which he dismissed as a Bush-style “top down” economic policy. “Just like we’ve tried their plan, we tried our plan — and it worked,” he added later in the speech. “That’s the difference. That’s the choice in this election. That’s why I’m running for a second term.”
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