Obama. What Has He Actually Done for the Economy? Redistribution Underway.

Let's look at Obama's record on the economy.  The following statements come from Obama's website...BARACK OBAMA.COM
First one...

The President is taking aggressive steps to put Americans back to work and create an economy where hard work pays and responsibility is rewarded.

This is the data from Recovery.gov. from October 2011-December 2011 AND there is nothing past this in their system...likely on purpose.

JOBS CREATED BY AWARD TYPE (OCT 1 - DEC 31, 2011)

Award Type	Jobs Created
Contracts	30,490
Grants	163,680
Loans	10,167
Total	204,337

Updated: 03/14/2012

Find more here...RECOVERY.GOV

I'd say that this is likely tainted from the source, AND...why was there an update on this data in March of 2012?...  


I question the "contracts" because they could count about anything in that category.  Also, what were the grants for?  Did they actually create jobs?  Loans?  Did they create jobs?


Let's look at another source...


This is truly interesting!  This is from the Bureau of Labor Statistics.  This chart shoes data that goes from 2002 to 2012.

Labor Force Statistics from the Current Population Survey

Series Id:           LNS11300000
Seasonally Adjusted
Series title:        (Seas) Labor Force Participation Rate
Labor force status:  Civilian labor force participation rate
Type of data:        Percent or rate
Age:                 16 years and over

Let's look at another source...





SOURCE: DIGGING


Here is another resource...





SOURCE: GALLUP


Why is this statement part of  "The President's Record on Jobs and the Economy"?

For years before the economic crisis, middle-class security had been slipping away. Wages stagnated while health care costs soared.

The Labor Force Statistics chart shows that this above statement is false.


Also, how can he claim the following?

We’ve added back more than 4.1 million private sector jobsand seen 25 straight months of job growth—but there’s more work to do.

The following statement really baffles my mind.  Have we ever seen an actual plan?

When President Obama took office, he both addressed the immediate economic crisis and laid the foundation for a U.S. economy that’s built to last.

What has Obama actually done for the economy?  


Redistribution is under way.  If Obama has his way, you may be looking at the Atlas Shrugged effect on the United States.

Stimulus Not Actually Stimulating. Big Surprise?

June 5, 2009


Dear Mrs. XXXXXX,


President Obama's $1.1 trillion stimulus package is not delivering the expected economic benefits, even according to the President's own benchmarks. The President projected that his stimulus package would prevent the unemployment rate from exceeding 8%. Today, the Bureau of Labor Statistics announced that May's unemployment reached 9.4%, and economists project that the rate will go even higher in the next several months.


Not only does the unemployment rate exceed the President's stimulus projection, it also exceeds the unemployment rate that the President projected if Congress had NOT approved the stimulus package. According to the President's own numbers, the unemployment rate would not have exceeded 9% if Congress had rejected the President's stimulus package.


Stimulus proponents may argue that more time is needed for the stimulus package to work. However, the following graph shows that the President was claiming that the impact of the stimulus package would be immediate. Not only is the recovery taking longer than promised, the job losses are higher than projected.


The Democrats' fiscally irresponsible stimulus plan has not delivered the promised benefits and has driven us further into debt, which already exceeds $11 trillion.


Click here for the report and please keep in mind the following:


(1) The only change to the President's graph is the insertion of the actual unemployment rate (in red) for the months since the President's signing of the "stimulus" law.


(2) As the graphic displays, the May 2009 unemployment rate of 9.4 percent is HIGHER than the worst unemployment rate the President predicted WITHOUT passage of the "stimulus" law.



Sincerely,
Jason Chaffetz Member of Congress