Twitter: Obama’s Recession

Twitter responses for “Obama’s Recession.” 

The Talking Points from the liberal left flows like this:

“But, corporate profits as a percentage of GDP are higher than ever. They’re 11%. How can Obama be destroying capitalism?

This is the highest corporate profits since World War II. A fifty year high!

 If corporate profits are highest ever, how can you say the private sector is not doing well?”

Response: Part of the reason is the expansion of overseas sales, but the profit recovery is primarily coming off the backs of American workers. There is two ways to make a profit. You can either reduce costs or raise revenues. Profit equals revenue minus costs. Right? Companies have been cutting costs aggressively to the bone, amongst them labor costs, and amongst them higher unemployment.

And, record-high profits do not necessarily translate into improvements in the economy. Over 70% of the increase in profit margins directly correlates with the reduction in workers’ wages and benefits. So, of course their profits are higher — they’re workforce is below skeleton crew levels. And, companies are making record profits because they have globalized to an extent never before.

You see, capitalism is a gentleman. The miracle of the market is that it goes where it’s wanted. And, if there is one thing Washington is good at, it’s creating uncertainty. The fear of higher taxes, rogue regulations and ObamaCare are a prime example of that uncertainty. And, higher taxes and federal mandates destroy economies. When that happens, corporations flee to more benevolent economies.

Regardless, like most liberals, Mr Obama is suspicious of the profit motive. But, we are here today to talk about ’60 problems’ Obama has with his failed Keynesian economic policies. But before we do, lets watch DNC Chair Poodle Debbie Wasserman Schultz claim ownership on the economy: “We clearly are responsible.”  For a longer version (2 min 40 seconds) of DWS describing the Dems “own the economy” and “the economy has turned around” click here.

The Overall Scorecard

• Obama’s economic record in ‘one chart.’
• Obama’s job creation problem in ‘one chart.’
• Obama’s comprehensive list of tax increases.
• Obama: Who is the 47% not paying taxes?
• Obama’s entire reelection problem in one chart.
• Obama’s ‘recovery’ is the weakest of any in the world since 1970.
• Obama:  Twenty-two (22) alarming facts about Obama’s economy.
• Obama:  Seventy (70) facts that Obama does not want you to see.
• Obama: Why America is much ‘worse off’ than it was 4 years ago.
• Obama’s bogus claim shot down: Bush polices did NOT cause the Great Obama Recession.
• Obama: Using Democrats’ job-counting methodology, a comparison of economic recoveries.
• Obama’s bogus claim diffused: “Bush and conservative theory” caused our economic problems.
• Obama: Six archived years of Bush warnings to Democrat’s about Fannie & Freddie. And, video.

Unemployment & Jobs

• Obama’s horrifying employment in two charts.
• Obama’s “U3” unemployment is 8.1% for August. Per BLS.
• Obama’s “U6” unemployment is 14.7% for August. Per BLS.
• Obama’s July: Unemployment rate rises in 44 states. 90% of states. Per BLS.
• Obama’s long-term unemployment, since inauguration day, has spiked 87%.
• Obama: There were 119,000 fewer Americans employed in August than in July.
• Obama: A record high 88,921,000 Americans are no longer in the civilian labor force.
• Obama’s policies have led to 100 million working age Americans that do not have jobs.
• Obama’s Labor Force Participation Rate is 63.5%. Lowest level in 31 years… since 1981.
• Obama: Do the math. June, netted 64K new jobs; July, 143K. August, 96K. We need 325K+.
• Obama: From 2009-11, 6.1 million workers displaced from they jobs held for at least 3 years.
• Obama generated twice as many campaign contributors as new jobs thru all of 2011.
• Obama: If labor force participation rate equaled Jan ’09, unemployment would be 11.2%.
• Obama has authored longest streak; 43 months of 8%+ unemployment since Great Depression.
• Obama has produced the 33 worst months (as of June) of employment in the past 25 years.
• Obama’s %-age of unemployed for more than 52 weeks is 30%. At his inaugural; less than 15%.
• Obama: The August civilian labor force; 368,000 quit looking for work. U6 to 14.7%.
• Obama’s past two years, 5.4 million workers have left the job market entirely.
• Obama’s College Graduates: Only 56% can find work. In 2006-07, under Bush, 90% found work.
• Obama: 95% of the jobs lost during the Obama recession were middle class jobs.
• Obama’s ratio of civilians in the workforce vs. total population of eligible workers. Chart.
• Obama: People not in the labor force trend. Another chart that does not lie…
• Obama does not differentiate between F/T and P/T into ‘jobs created’ calculations. Chart.
• Obama:  The chart shows the private sector is not ‘doing fine.’
• Obama:  The chart shows if anyone is ‘doing fine’ its government employees.
• Obama’s job numbers have been revised 62 out of 63 weeks. As of July 31, make that 72 of 73.
• Obama’s sluggish economy has disproportionately affected black workers.Unemployment 14.1%.
• Obama’s Recession has delivered a sky-high 10.2% unemployment to Hispanics & Latino’s.
• Obama’s June unemployment rate for ‘under 30’ adults 12.1%. 1 of 2 are un-or-under employed.
• Obama: 175,000 fewer women held jobs in July than June.

Debt & Deficit

• Obama’s National Debt exceeds Bush.
• Obama owns the ‘largest four deficits’ in history.
• Obama’s unprecedented budget deficits in one picture.
• Obama has increased our federal debt 51% since inauguration.
• Obama is the biggest government spender in world history, according to Forbes.
• Obama: For every $1 added to the economy, Obama added more than $3 in debt.
• Obama: US ‘indebtedness’ to foreign interest has grown 72.3% since inauguration: US Treasury.
• Obama’s US Federal Reserve: the top owners of U.S. debt in the world; $1.667 Trillion.
• Obama has increased debt more than all Presidents from Washington thru Bush I combined.
• Obama’s argument he produced ‘slowest spending in decades’ is shot down. Chart.
• Obama’s bogus claim “federal spending has risen at lowest pace in 60 years” eviscerated. Chart.
• Obama’s bogus claim ‘90%’ of the current deficit is due to Bush policies shot down by WaPo.
• Obama’s runaway spending, not inadequate tax revenue, is source for future deficits.
• Obama’s total federal spending by presidential term. Historical charts. Reagan to Obama.
• Obama: 17 National Debt statistics showing our debt is exploding at exponential rate.
• Obama’s national debt depicted in a road trip in this creative video. Our nat’l debt is $16T.
• Obama’s real federal deficit in 2011 dwarfs official tally. Surprise! Its $5 Trillion not $1 Trillion.
• Obama pledges to cut the deficit in half by end of first term. This doesn’t even pass the giggle test.
• Obama’s five biggest failures from his Stimulus Law.
• Obama: Unemployment rate if Congress didn’t pass the stimulus.

Overall Economy

• Obama: US economy grew at a very sluggish 1.3% annual clip in Q2. Pathetic. Darkness looms.
  Obama: An astounding 70% of retailers missed their June sales targets, worst since Nov. 2009.
• Obama’s Recession has lost 129,000 Millionaires in 2011. Per CNBC.
• Obama’s fuel prices have skyrocketed; gallon of gasoline has spiked 107%. Inauguration = $1.84.
• Obama Green Jobs Cost $5 Million Each. Obama promised 5M “green” jobs. He’s 4,996,455 short.
• Obama’s policies are oppressing small business. Its not sales, its taxes and regulation. The chart.
• Obama: Consumer Confidence in U.S. declines to a six-month low in July.
• ObamaCare feared by CEO’s & Business Leaders; CNBC’s Jim Cramer, no Republican, explains.
• Obama supporter Cramer on CNBC: “Business Leaders disdain for Obama is off the charts.” Video.
• Obama: An amazing 23 manufacturing facilities permanently shut down every single day in 2010.
• Obama’s Foreclosure tide has destroyed $7 Trillion in Household wealth.
• Obama policies decreased real household medium income $4,019 since inauguration.
• Obama: median household income worsens; 4.8% from June ’09 to June ’12. The chart.
• Obama’s tax the rich: CBO report confirms rich already pay their “Fair Share.”  The chart.
• Obama’s FY 2013 budget includes about $1.5 trillion in tax hikes. The chart.
• Obama’s stealth taxes are hurting business. USA has highest Corporate tax rates in the world.
• Obama: the poverty rate for children living in the US is a whopping 22%.
• Obama the Food Stamp President; 32M to 46M. One out of every 7 people you pass on a street.
• Obama’s recession: 48% of all Americans considered either “low income” or living in poverty.
• Obama’s economic policies has produced a 46 year-high poverty rate; 15.7%; highest since 1960s.
• Obama: workers on Disability sets record in August; 8,767,941: exceeds population of 39 states.
• Obamacare estimated cost over 10 yrs in new taxes = $1 trillion. Per CBO. Total Cost = $2.6T
• Obamacare will leave 30 million uninsured. Per CBO.
• Obama’s Broken Record, Broken Promises; “Don’t read too much into”…lead to very bad polling.
• Obama:  The dollar has sunk to a near 7-month low against major currencies in August.

Despite all this, DNC Chair Rep. Debbie Wasserman Schultz on “Face the Nation” (CBS): Says that the economy is turning around despite the terrible Q2 GDP number of 1.7%. (July 29, 2012). Update: Revised to 1.3%.

To read more about Obama’s Great Recession in further detail and explanation, go here.  For Obama’s “list of Accomplishments”, click here.”