Hello. I’m Wayne Allyn Root for Personal Liberty. Barack Obama’s Inauguration Day is coming up next week. Despite what the Obama-adoring, Kool-Aid drinking liberal mainstream media tell you, Obama’s inauguration is not a celebration. If the media were honest, we’d declare it a “national day of mourning.” Our economy under Obama is in shambles. Things are not getting better; they are getting worse by the day. Now we have four more years of more of the same. Will we survive?
We are already in an Obama Great Depression, and I have the facts to prove it — facts the mainstream media refuse to disclose. I’m about to give them to you. The key to understanding all this is to study the real facts and statistics. You know, the kind not manufactured out of thin air or manipulated by Obama, the government or the media. Facts are facts.
The facts below clearly indicate that the economic collapse is far worse than most Americans understand yet.
Judge for yourselves:
Obama is the biggest spender of any politician in world history.
Not to be outdone, Tim Geithner is the biggest-spending Treasury Secretary in history ($13.6 trillion).
Under Obama, the national debt has increased by 50 percent. Obama is on track to add $12 trillion to the national debt: a staggering three times more than George W. Bush added in his eight years as President:
In only the past 16 months, the Obama Administration added $2.1 trillion to the national debt, which is why we need the debt ceiling raised again.
Under Obama, the national debt now exceeds the entire output of the U.S. economy.
Obama is not only the first President in history to produce four consecutive years of deficits above $1 trillion, but those four years’ worth of deficits are more than produced by all other Presidents in history combined.
The national debt is increasing by a mind-boggling $3 million dollars per minute.
What did we get for all that spending and massive debt?
The U.S. credit rating has been downgraded for the first time in our history. With Obama’s re-election, get ready for more credit downgrades to come.
The net worth of the average American is down a whopping 40 percent.
According to the U.S. Census Bureau, household income has fallen for all four years under Obama. It’s down a startling $4,000 per family since Obama became President.
The housing collapse is now deeper than at the peak of the Great Depression.
Unemployment was more than 8 percent for an unimaginable 43 consecutive months. That’s more months of unemployment above the 8 percent level than during all the Presidencies from Harry Truman’s to the younger Bush’s combined.
According to economist John Williams of shadowstats.com, if you factored in all of the short-term discouraged workers, all of the long-term discouraged workers and all of those working part-time because they cannot find full-time employment, the real unemployment rate would be more than 20 percent, which is higher than it was for a majority of the years during the Great Depression.
The employment rate under Obama has been less than 59 percent for 39 months in a row. That means less than 59 percent of those capable of working are actually employed. So how can the jobless rate reported by the government (and mainstream media) be improving?
Since Obama has been President, more than 8.5 million Americans have dropped out of the workforce.
The Labor Force Participation Rate among men is the lowest since 1948 (just after World War II). In 1950, 80 percent of all working-age men had a job versus today with only 65 percent working.
The average unemployed worker has been unemployed for 40 weeks. At the peak of the deep recession of the early 1980s, with unemployment close to 11 percent, the average length of unemployment at its highest was only 21 weeks.
If you gathered together all of the unemployed people in America in one place, they would constitute the 68th largest country in the world.
The United States has roughly the same number of jobs today as it had in 2000, but the population is well more than 30 million people larger. To get to a civilian employment-to-population ratio equal to that in 2000, we would have to gain some 18 million jobs.
Back in 1980, fewer than 30 percent of all jobs in the United States were low-income jobs. Today, more than 40 percent of all jobs in the United States are low-income jobs.
Fifty-three percent of all college graduates in America under age 25 are either unemployed or under-employed.
Black unemployment is at 14 percent. When did you hear that trumpeted in the media during the Presidential election? Obama received more than 99 percent of the black female vote, yet his first term produced horrendous damage to African-Americans.
A record 47.7 million Americans are now on food stamps.
Under Obama, we have added more than 16 million Americans to the food stamp rolls. That’s an increase of a stunning 50 percent in just four years.
Under Obama, the growth of Americans on food stamps is 75 times greater than job growth.
Forty years ago, one out of 50 Americans received food stamps. Today, it is one out of 6.5.
Forty-three percent of all immigrants who have been in the United States for 20 years or longer are on welfare.
In 1965, one out of every 50 Americans was on Medicaid. Today, about one out of every six Americans is on Medicaid.
Medicare alone faces an unfunded liability of almost $40 trillion dollars. That’s more than $328,000 per U.S. household.
The number of Americans now on disability (a record 11 million) is larger than the population of New York City, as well as the population of 39 of the 50 States. Since Obama became President, 5.5 million have joined the ranks — most of them after their unemployment benefits ran out. Now they get an income and free healthcare for life.
More than 100 million Americans (almost one out of every three Americans) are getting some form of welfare. That does not include Social Security or Medicare.
About 57 percent of all children in the United States are living in poverty or are defined as low-income.
It is being projected that about 50 percent of all U.S. children will be on food stamps at some point in their lives before they reach the age of 18.
For the first time in history, more than 1 million public school students are homeless.
Total student loan debt is now more than $1 trillion, with defaults at record levels.
According to the Mortgage Bankers Association, in the third quarter of 1980 under the failed Presidency of Jimmy Carter, there were 76,885 delinquent mortgages. Shockingly, in the second quarter of 2012 under Obama, there were 3,107,247 delinquent mortgages.
Obama says real estate is in “recovery.” Yet in one city, in one month, $120 million of commercial real estate went into default. This isn’t an isolated instance; it’s happening across America. The commercial real estate collapse is just starting. Does this sound like a “recovery” to you?
New business start-ups are at the lowest level in 30 years.
In the World Economic Forum’s rank of global competitiveness, the United States has fallen four years in a row under Obama.
The United States also joins Ireland as the only advanced economies in the world to have lost economic freedom the past five years in a row.
The government reports that banks are doing better. Yet Bank of America just reported more than $64 billion worth of delinquent mortgages (more than six months late). None of these have even entered foreclosure yet. That’s more than half of the market cap of BofA.
Obama denies he’s a socialist. He says he merely wants to move America towards the European model of social capitalism. Then you realize Europe is a bankrupt welfare state, with an all-time record 11.8 percent unemployment and 24.4 percent youth unemployment across the Eurozone.
Twenty-six million Europeans are unemployed. Greece and Spain both have more than 26 percent unemployment and more than 50 percent youth unemployment. Something is very wrong.
Well, if the bankruptcy of America is the goal, don’t look now, but it’s happening. Apple, Inc. (the iPhone company) has more cash in the bank than the U.S. government. Maybe the U.S. government should start selling something that people actually want.
But Apple isn’t alone. Twenty-nine different companies have more cash in the bank than the U.S. government.
One of three residents in Obama’s home State of Illinois lives in poverty. Soon that will be you.
We are experiencing unimaginable economic wreckage, crisis and collapse from coast to coast. None of this is a coincidence. This is a cold, calculated plan to collapse the U.S. economy, damage or bankrupt business owners (particularly small business) and destroy capitalism.
And it’s working.
So don’t get out the party hats and balloons too quickly for Obama’s inauguration. Instead, we should all be wearing black… to represent a national day of mourning for America.
I’m Wayne Allyn Root for PersonalLiberty.com. See you next week. Same time, same place. God Bless America.