The recent Obama administration scandals shift the spotlight from the
economy. Yet the recovery remains depressingly sluggish, with the labor
force participation rate at a 34-year low as millions of able-bodied,
able-minded Americans simply stopped looking for work.
With President Obama in the fifth year of his presidency, let us examine the effect of the stimulus program, tax hikes, Obamacare and additional regulation on the economy. It isn't pretty.
For the richest Americans, their net worth has fully recovered. For the non-rich, the recovery tells a very different story. At the start of "recovery" in 2009, the mean net worth of the lower 93 percent of households was $139,896. By the close of 2011 -- the latest year available -- it had fallen 4 percent, to $133,817. Food stamp usage sets new records. So far this fiscal year, over 22 million households have received food stamps, up from less than 15 million in 2009. While the stock market has recovered, most Americans have not. The biggest investment for most Americans is their home and the equity in average home remains 28 percent below its 2006 peak.
http://townhall.com/columnists/larryelder/2013/06/20/oh-yeah-the-economy-n1622896/page/full
With President Obama in the fifth year of his presidency, let us examine the effect of the stimulus program, tax hikes, Obamacare and additional regulation on the economy. It isn't pretty.
For the richest Americans, their net worth has fully recovered. For the non-rich, the recovery tells a very different story. At the start of "recovery" in 2009, the mean net worth of the lower 93 percent of households was $139,896. By the close of 2011 -- the latest year available -- it had fallen 4 percent, to $133,817. Food stamp usage sets new records. So far this fiscal year, over 22 million households have received food stamps, up from less than 15 million in 2009. While the stock market has recovered, most Americans have not. The biggest investment for most Americans is their home and the equity in average home remains 28 percent below its 2006 peak.
http://townhall.com/columnists/larryelder/2013/06/20/oh-yeah-the-economy-n1622896/page/full
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