Follow Barack Obama prior and during his tenure as the 44th President of the United States. Read about my personal observations along with every day facts as they happen. This blog will only submit factual information about the first black President, now in his 2nd term of office.


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Republicans Are Proven Wrong About the Economy

Friday, July 25, 2014

Today is July 25th, 2014. 

The country is moving forward. 

The NFL teams are going to training camp. 

Folks around the globe are thinking about their fantasy team coming up this fall. Who do you pick? 

When you pick, you want PERFORMANCE. You want NUMBERS. You want some HARD STUFF to go on. 

When it comes to the Economy, it is time to share some numbers that you just can't argue with.

So how about one of the most under covered stories of the year, the Obama economy. The news surrounding the economic recovery in recent months is one of the highest positives of modern time.  To state it basically, the Obama economy is BOOMING. 

Maybe I need to make the case as to why I believe that the economy is really working. 

First, the President just yesterday on CNBC said the following:

"When you think about where we were Steve, when I came into office and where we are now, it's pretty hard to find an economic measure where we are not significantly better off. I don't have to tell you about the stock market and where that's gone, corporate profits, record highs. But unemployment now is lower than it was pre-Leaman. We've seen the housing market recover, not as fast as we would like, the auto industry recovering. We remain the most dynamic, enovative economy in the world."

Now let's go back to 2009, when the Republicans tried to pin all the problems on your back. The conservatives or Republicans always have said this is Obama's economy. Admitting that the economy needs improvement, the President is definitely right on the money. But still, the following are the facts.

First, the stock market now is hitting record highs, with the Dow Jones Industrial Average around 16,400 May 2016 to over 17,000 at this moment in July. 

Second, the most recent job report shows that there has been 288,000 jobs added in June. Oponents of Obama would say that this just cannot be true, because there has been at least that many people now not looking for work, that are not counted in the numbers. Even if that were true, why would that be so. Maybe it is because the Congress, namely the Republicans in the congress does not want people to have jobs. All the way back in December of 2013 and up to now, the Republicans have refused to grant unemployment benefits to people that are struggling to make ends meet, middle class people that seem to be going in the wrong direction. The Republicans will not help. Instead, these people are tired fighting. Many of them are now no longer looking for jobs, but that in itself is not the mainstream idea of the unemployed. Most everyone wants a job, but the Republican base does not make it even bearable for someone to not have a job. Even if every job was filled in America, there still would be many people unemployed. The difference now is that many of these people are not counted in the numbers. But looking at the numbers of people actually registered and looking for jobs, the unemployed in this group has dropped. 

Third, how about 52 straight weeks of uninterrupted job growth. There has been 9.7 million jobs added in this time-frame since the beginning of 2010. Just around the same time, there was a bill called 'Obamacare' that was passed around that time, and the Republicans claimed that it would be a "job killer". The unemployment rate has now dropped to 6.1%. It is the lowest rate since September of 2008. 

Fourth, how about the automobile industry. When Obama provided money to help the auto industry, the Republicans called it a "bailout". In fact, it was a loan that prevented businesses like the car industry from filing bankruptcy. It definitely saved allot of jobs. 

Fifth, the housing market has rebounded. Today, your home is worth more than when President George W. Bush was in office. 

Sixth, Corporate profits are through the roof and they are displaying record highs in many cases. 

Seventh, we can't forget about 'Obamacare'. Where is the march to get rid of it now? This is no march to get rid of it now, because it is working. 

Everything mentioned above are FACTS. This is truly a remarkable turn-around in the midst of all the 'Nay-Sayers'. 

Everything that was accomplished was done in the face of blatant Republican obstruction. The Congress just simply refuses to work with President Obama. The President has made it clear that if the Republicans did their job, the country would be in much better shape. 

The President said....

"There are some things that are holding us back. The main thing that is hold us back is inaction by our Federal Government on things like infrastructure, on raising the minimum wage, and doing some thing that would help middle class families feel a little bit of relief. If we do those things, then we are going to be in pretty good shape." 

Those things stated by the President seem like they are in reach, but with today's 'do-nothing' Congress, they are not. Presently, after doing nothing recently, just today now the Congress is going on summer vacation. Nothing gets done in Congress. Hopefully some of their constituents back home will put a bug in their ears to get something done or don't count on getting elected again this fall. 

The Republicans claim that a wage increase in this country would kill jobs. 

Ted Cruz says....
"I want the American people to realize, that every member of this Senate that votes for the minimum wage, is voting to tell up to 1,000,000 Americans, your jobs don't matter, because I'm voting to take away your job." 

Really?! This is proof that the Republicans have not a clue how to fix the economy. 

Paul Ryan says the raising the minimum wage to $10.10 per hour would hurt the economy, because it raises the price of labor. 

Really?! He doesn't have the slightest idea what would, or at least he is not telling the American people that he has a plan that is better than raising the minimum wage to $10.10 per hour. Yes, the employers would have to dish more out to their workers, but the end result would be good for everyone. Actually the profits would tend to be more, if you encourage good working people that can perform their job successfully to want to do more during their job. 

Marco Rubio says... 

"Liberals up increases in taxes, and the minimum wage, as ways the struggling to earn more. But what they don't tell you is that these policies will result in many people would potentially loose their jobs."

 Really?! Does he think that the employers would fire an employee who wants to work harder and produce more because they just received a wage increase. That is a big incentive for many middle class Americans. 

These Senators are flat out wrong. 

The facts are that states that increase the minimum wage have increased job growth. 

The fact is that Republicans have been wrong on EVERY facet of the economy. How about in 2012 when repealing the Bush tax cuts were supposed to hurt the job creators. 

The bottom like here is that Republicans believe that you cannot be for jobs and against the very people that create them. Everything that the Republicans said was going to happen was wrong. It was all theory, as none of their predictions came through when the issue was centered around the economy. 

When the Bush tax cuts expired, Corporate profits went through the roof. How is that hurting the job makers. It's not. President Obama claimed that the business in America would move forward with the expiration of the Bush tax cuts.America did move forward, and it was not a job killer like the Republicans claimed it would be. There has been 18 straight months in private sector job growth since the tax cuts expired. The Clinton rates are definitely working better than when President Bush was in office. 

Obamacare did not kill jobs. The Republicans claimed that it would kill jobs. Republican Michelle Bachmann wanted to repeal what they call a "failure", as it literally kills women, kills children, kills senior citizens as this was what she claimed would be the case while speaking in front of Congress. 

The numbers prove that Obamacare did not kill jobs.If anything, Obamacare created jobs in this country. Proof of this is that at least 9,000,000 new jobs have been created since Obama signed 'The Affordable Care Act'. 

So the question here is how can the Republicans be so wrong concerning millions of people? 

The Bottom line...

The Republicans have zero credibility when it comes to to the economy. They seem to be wrong on EVERYTHING. They continue to be wrong by only being concerned about their own interests, not those of the American people.


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