Saturday, October 11, 2014

Obama on Economy: Oblivious? Delusional? Lying?


On Oct. 2, President Obama told an audience at Northwestern University, "It is indisputable that our economy is stronger today than when I took office. ... By every economic measure, we are better off now than when I took office."

Sadly, that statement is demonstrably false. And unless the president is oblivious to inconvenient economic facts or delusional, it is a demonstrable lie.

In the movie, "Truman," President Truman utters the line, "I'm just the man holding this office. If I dirty it, the dirt doesn't leave with me when I go, it stays here to rub off on whoever comes after me from now on." The line may be pure Hollywood, but that doesn't make it any less true.

It is not "indisputable" that the American economy is "stronger today than when he took office." Below are facts from non-partisan sources which clearly indicate that what the president told the American people is far less than the whole truth.

1. In January 2008, according to the Bureau of Labor Statistics, the labor force participation rate was 66.2 percent. In 2014, rather than improving, that rate declined to 62.8 percent.

2. In 2008, 28 million individuals receiving food stamps (annually); in 2014 the number has increased to 47 million.

3. In 2007, according to the Census Bureau publication "Income and Poverty in the U.S: 2013," the median income in the U.S. (50th percentile) was $51,939. This is a decline from 2007, when the median income was $56,436.

4. The Real Median Household income for Asians dropped from $72,000 in 2008 to $67,000 in 2013. For whites, it dropped from $61,000 in 2008 to $58,000 in 2013. For Hispanics, from $42,000 in 2008 to $41,000 in 2013. For blacks it dropped from $38,000 in 2008 to $34.5 in 2013, according to the Census Bureau publication "Income and Poverty in the U.S: 2013."

5. According to the same report, the "number in poverty" rose form 35 million in 2008, to 45.3 million in 2013.

6. According to the same report, the Annual Average Consumer Price Index for 2008 was 316.2. It increased to 342.1 in 2013. That represents a 7.6 percent decline in household purchasing power.

7. In 2008, 11.8 percent of families had total income under $15,000; in 2013, 12.7 percent. In 2008, 12.6 percent of families had incomes between $50K and $75K; in 2013, 11.9 percent of families. In 2008, 12.6 percent of families had income between $75K and $100K; in 2013, 11.9 percent. In 2008, $13.3 percent of families had income between $100K and $150K; in 2013, 12.4 percent.

8. The Department of Labor publishes statistics showing full-time vs. part-time employment, for persons aged 16 and over; 35 hours or more is considered "full time." The focus is on "total hours worked." Full-time status may result from multiple part-time jobs.

a. Of those employed age 16 and over, 83 percent had full-time employment in 2008; 81.3 percent in 2014. In 2008, 17 percent of workers had part-time employment; in 2014, the number has risen to 18.6 percent.

b. The Employment Cumulative Changes since 2007 shows full-time employment (ages 25-54) has decreased by 5 percent. Part-time employment has increased 0.4 percent (advisorperspectives.com/dshort/commentaries/Full-Time-vs-Part-Time-Employment.php).
Unless Mr. Obama is oblivious to inconvenient economic facts or delusional, there is only one reason why a president would say, "It is indisputable that our economy is stronger today than when I took office."

He wants to keep his party in power and he is willing to lie to achieve his goal. The Watergate plumbers did what they did to insure President Nixon's re-election. We impeached President Nixon because he lied to cover-up what had been done. I consider President Truman the greatest president of my lifetime (I was too young to know FDR) precisely because he refused to lie. Here's something President Truman actually did say:

"The fundamental basis of this nation's laws was given to Moses on the Mount. ... If we don't have a proper fundamental moral background, we will finally end up with a totalitarian government which does not believe in rights for anybody except the State."

It is one thing for the government to mislead our enemies. It is another thing for the government to mislead the American people for partisan advantage. If we can't believe the president when he talks about how the economy has improved during his tenure in office, how can we believe him when he tells us what we need to do to destroy the Islamic State (ISIS), to protect the homeland from terrorism and Ebola?


Posted Online:  Oct. 10, 2014, 11:00 pm - Quad-Cities Online
by John Donald O'Shea

Copyright 2014
John Donald O'Shea

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