{"id":20438,"date":"2013-09-16T13:13:38","date_gmt":"2013-09-16T17:13:38","guid":{"rendered":"http:\/\/www.rightwinggranny.com\/?p=20438"},"modified":"2013-09-16T13:13:38","modified_gmt":"2013-09-16T17:13:38","slug":"is-there-really-an-economic-recovery","status":"publish","type":"post","link":"https:\/\/www.rightwinggranny.com\/?p=20438","title":{"rendered":"Is There Really An Economic Recovery?"},"content":{"rendered":"

Yesterday the Daily Caller<\/a> posted an article on our current financial recovery from the financial crisis of 2008<\/a>.<\/p>\n

The article reports:<\/p>\n

Less than half of Americans<\/a>\u2019 per-capita wealth that was lost in the government-boosted property bubble<\/a> has been recovered by mid-2013, says a new White House<\/a> report that is intended to help President Barack Obama<\/a> trumpet his economic accomplishments.<\/strong><\/p>\n

\u201cAdjusted for inflation<\/a> and population growth, only 45 percent of wealth lost during the recession has been recovered, and many of the hardest hit households did not benefit as much from the rebound<\/a> in [Wall Street<\/a>] financial<\/a> assets prices,\u201d the report admits.<\/strong><\/p>\n

I suspect that part of the fact that the lost wealth has not been recovered is due to the fact that a good deal of that wealth was in the housing bubble. You can easily make the case that it was not real wealth–it was part of a bubble. However, the jobs numbers are real, and they are pathetic.<\/p>\n

The article reports:<\/p>\n

But Obama\u2019s economic report has so many gaps that it fails to mention today\u2019s unemployment rate<\/a>, or even the 20 million Americans who are unemployed or underemployed.<\/strong><\/p>\n

The report does declare that \u201cover the past three and a half years, our businesses<\/a> have created seven and a half million new jobs.\u201d But the population also has grown 7 million, from 306.8 million in 2009, to 314 million in 2012, partly through the arrival<\/a> of roughly 5 million immigrants.<\/strong><\/p>\n

…The report doesn\u2019t mention the Supplemental Nutrition Assistance Program<\/a>, or food stamps, even though enrollment<\/a>\u00a0in the program has dramatically increased over Obama\u2019s tenure, from 28 million recipients in 2008 to 47.7 million recipients in June 2013.<\/strong><\/p>\n

The labor force participation rate currently stands at 63.2 percent according to Bureau of Labor Statistics data<\/a>. In a very odd twist of fate, the people who voted for President Obama are also the ones hit hardest by the recession and so-called recovery. In view of their own economic survival, I strongly suggest that the low-information voters become informed voters before they vote again.<\/p>\n

<\/div>\n
\"Enhanced<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Yesterday the Daily Caller posted an article on our current financial recovery from the financial crisis of 2008. The article reports: Less than half of Americans\u2019 per-capita wealth that was lost in the government-boosted property bubble has been recovered by … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[97,174,562,3239,127,285,737,211],"class_list":["post-20438","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-barack-obama","tag-daily-caller","tag-obama","tag-real-estate-bubble","tag-supplemental-nutrition-assistance-program","tag-united-states","tag-wall-street","tag-white-house"],"_links":{"self":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/20438","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=20438"}],"version-history":[{"count":1,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/20438\/revisions"}],"predecessor-version":[{"id":20439,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/20438\/revisions\/20439"}],"wp:attachment":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20438"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20438"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20438"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}