Is Barack Obama the Worst President Ever?
Obamanomics = No Jobs + Government Assistance
Is President Obama the Worst President?
President Obama inherited a bad economy, but his policies actually made it even worse. Currently, the United States is mired in its worst economic recovery since the Great Depression. Our country has endured forty-three straight months of unemployment over 8%. When Barack Obama took office, the unemployment rate was 7.8%. Today, it is 8.1%, but that statistic doesn't truly show how much worse the labor market is. The labor force is shrinking as fewer and fewer people continue to look for work. In August of 2012, the labor force participation rate fell to 63.5%; this was its lowest level since September 1981. For men, the statistic was even worse. The participation rate in the labor force for men was a mere 69.8%; that was the lowest ever on record! If you think education and training is the answer, half of all recent college graduates are underemployed or unemployed. Jobs just don’t exist in great supply under the Obama administration, and many people have been forced into underemployment when they can find a job. Consequently, our tax base is shrinking, more people are unemployed or underemployed, and government subsidies are skyrocketing at unprecedented levels.
If you are fortunate enough to have a job, your median household income has shrunk. In fact, since President Obama took office, the median household income has fallen more than $4,000. We have a record number of people on food stamps, 47 million. That’s a 63% increase in four years! America’s poverty rate is around 15%, the highest since 1993. Gas prices have soared under President Obama; the average retail price of gasoline has more than doubled under President Obama, rising from $1.84 per gallon at the beginning of his term to more than $3.80 per gallon as of September 2012. While people are making less money, expenses are increasing, and the American standard of living is rapidly declining.
In 2008, Barack Obama pledged to reduce America’s deficit by 50%. At the time, he adamantly spoke out against George Bush’s heavy spending and big deficits, but then, once elected, President Obama proposed and supported budgets that had triple the deficits ever seen in American history. He not only failed to slash America’s deficit, he rapidly grew it into the largest it had ever been by borrowing more money than any president before him. With our national debt exceeding an almost insurmountable $16 trillion, President Obama failed to offer any credible plan for the nation's economy. As a candidate, Barack Obama promised a more sophisticated approach to the economy than that of his predecessor, George Bush. What he delivered was a simplistic and unsuccessful three-pronged.economic plan that largely centered on spending more money to stimulate the economy, keeping interest rates low, and providing extended government assistance to people who lost their jobs. This did little to spur job creation and resulted in a net loss of 316,000 jobs as of September 2012. This statistic runs contrary to what President Obama claimed at the 2012 Democratic Convention; he claimed to have created 4.5 million jobs but failed to clarify the fact that millions of jobs were also lost while he was president, primarily within the first few months of his presidency. Statistically speaking, President Obama ranks dead last in job creation since the end of World War II, 1945. With jobs scare and a hemorrhaging deficit, our country continues to spiral into certain bankruptcy, and America recently underwent its first-ever credit downgrade. All of this occurred under President Obama. Statistically speaking, few Americans are better off now than they were four years ago.
Is President Obama the worst president ever? Economically speaking, there is a very solid argument to support this claim. To be fair, many statistics were not accurately kept throughout America’s history, so it is impossible to truly compare all the presidents based on the economy. However, we can accurately compare economic statistics from the past eighty or so years, and an analysis of economic data reveals that Barack Obama’s economic policies have resulted in the greatest failures within that timeframe. Consequently, if you solely look at economics, Barack Obama is the worst American president in at least the last eighty years.