2. 2
WHY YOU SHOULD VOTE DEMOCRAT
SECTION 1
PRESIDENT OBAMA’S ECONOMIC POLICIES ARE
WORKING FINE
SECTION 2
DEMOCRATS ARE BETTER THAN REPUBLICANS
FOR THE ECONOMY
SECTION 3 WHAT YOU NEED TO KNOW ABOUT ECONOMICS
BONUS WHAT ROMNEY SAID…/RED STATE SOCIALISM
4. 4
PRESIDENT OBAMA’S ECONOMIC POLICIES ARE WORKING FINE
When Mr. Romney (and other Republicans) tell you “President
Obama inherited a difficult economy and he has made it worse”,
they are flat out lying
The real question isn’t “Are you better off than you were 4 years
ago?” It’s “Are you better off than you were when President Obama
took office?”
In January 2009, the economy and stock market were in free-fall,
your 401Ks and home values were collapsing, and you had no
parachute. Today your 401Ks have fully recovered, your home value
is growing again, and the economy is stronger than before the
recession
You are better off with President Obama
than you were in January 2009!
5. 5
Real Gross Domestic Product (GDP) Growth Graph
Fourth quarter 2008:
Financial Stabilization (TARP)
First quarter 2009:
American Recovery and
Reinvestment Act of 2009
REPUBLICANS LEFT NEGATIVE GDP. PRES. OBAMA WENT POSITIVE IN JUST 2 QS
6. 6
Real GDP is doing fine
GOOD GDP GROWTH: 1982-1995 BUBBLE: 1996-2008 OBAMA BACK TO GOOD GROWTH - DON’T WANT BUBBLE
PRES. OBAMA’S POLICY WORKING LIKE 1982 TO 1995 - GOOD FASTER WOULD CREATE A BUBBLE - BAD
7. 7
U.S Unemployment Rate
Monthly Back to 1941
Sept ‘12
UNEMPLOYMENT RECOVERY RATE UNDER PRES. OBAMA IS AS GOOD AS IT GETS
FASTER THAN 5 OF LAST 6 RECOVERIES – ECONOMIC POLICY WORKING VERY WELL!
8. 8
U-6 Unemployment
January, 2012 = 15.1% October, 2009
February, 2012 = 14.9% 17.2%
March, 2012 = 14.5%
April, 2012 = 14.5%
May, 2012 = 14.8%
January, 1994 June, 2012 = 14.9% April, 2012
11.8% 14.5%
September, 2003
10.4%
December, 2006
7.9%
October, 2000
6.8%
PRES OBAMA’S U6 UNEMPLOYMENT RECOVERY RATE IS AS GOOD AS LAST TWO!
9. 9
Change in Payroll Jobs per Month (ex-Census)
Bush’s Legacy
JANUARY-INAUGURATED FEBRUARY-RECOVERY ACT MARCH-IDENTIFY JOBS APRIL-FUND AND START JOBS
PRES. OBAMA HAS ADDED 2M NET JOBS IN JUST THREE AND A HALF YEARS IN OFFICE
10. 10
Private sector job creation
Source: http://www.classwarfareexists.com/chart-private-sector-job-creation-bush-v-obama/#axzz265xbmEuC
Excluding each one’s first year in office (treating Bush’s early job losses as a
Clinton legacy, and Obama’s early job losses as a Bush legacy), President
Obama has added more than twice as many private sector jobs in two and
a half years than President Bush did in 7 years.
11. 11
Real Retail Sales Cumulative Growth Since 1959
RETAIL SALES GROWING FASTER THAN THE 60 YEAR TREND - OBAMANOMICS WORKING!
12. 12
Retail Sales (billions $)
Mike Norman Economics
RETAIL SALES ABOVE PRE-RECESSION LEVEL - OBAMA ECONOMY WORKING
13. 13
Real Exports of Goods & Services
EXPORTS ABOVE TREND AND PRE-RECESSION LEVEL - OBAMA ECONOMY WORKING
14. 14
Corporate Profits (billions $)
Mike Norman Economics
CORPORATE PROFITS AT ALL TIME HIGH - OBAMA ECONOMY WORKING
15. 15
Real Nonresidential Investment
REAL BUSINESS INVESTMENT HAS RECOVERED RAPIDLY UNDER PRESIDENT OBAMA.
UNCERTAINTY IS NOT HOLDING BACKRECOVERED RAPIDLY UNDER PRESIDENT OBAMA.
REAL BUSINESS INVESTMENT HAS INVESTMENT. REPUBLICAN CLAIMS ARE WRONG
UNCERTAINTY IS NOT HOLDING BACK INVESTMENT. REPUBLICAN CLAIMS ARE WRONG
16. 16
National Average Retail Gas Prices
Regular Grade, As Surveyed By The AAA Motor Club
GAS PRICES SPIKED ABOVE $4.00/GAL UNDER PRES. BUSH. NOW IN NORMAL RANGE UNDER PRES. OBAMA.
REPUBLICANS’ COMPARISON TO SHORT DOWN-SPIKE IN 2009 IS CHERRY-PICKING
17. 17
SECTION 2
DEMOCRATS ARE BETTER THAN
REPUBLICANS FOR THE ECONOMY
18. 18
DEMOCRATS ARE BETTER THAN REPUBLICANS FOR THE ECONOMY
WHY YOU SHOULD VOTE DEMOCRAT
9 OF THE LAST 10 RECESSIONS TOOK PLACE UNDER REPUBLICAN PRESIDENTS
REPUBLICANS INCREASE THE DEFICIT, DEMOCRATS REDUCE THE DEFICIT
REPUBLICANS LOSE MANUFACTURING JOBS, DEMOCRATS GAIN MANUFACTURING JOBS
REPUBLICANS GIVE YOU BIGGER, LESS PRODUCTIVE GOVERNMENT
REPUBLICAN ADMINISTRATIONS OUTSPEND DEMOCRATS DRAMATICALLY
REPUBLICANS GIVE US MORE POVERTY THAN DEMOCRATS DO
REPUBLICANS REDUCE MALE EMPLOYMENT
DEMOCRATS RESPONSIBLE REPUBLICANS IRRESPONSIBLE
19. 19
U.S. Recessions
Kennedy
Nixon
Ford
Bush
Eisenhower
Bush II
Reagan
60 YEARS - 9 OF LAST 10 RECESSIONS UNDER REPUBLICAN PRESIDENTS !!
20. 20
Federal Deficit/Surplus - Percentage of GDP
Federal Deficit/Surplus - % of GDP
Kenned/
Kennedy/ Carter
Carter
Coolidge/
Coolidge/ Johnson
Johnson
Hoover
Hoover Roosevelt/Truman
Roosevelt/Truman Eisenhower
Eisenhower Nixon/F
Nixon/ Reagan/Bush
Reagan/Bush I Clinton
Clinton BushII
Bush II Obama
Obama
ord
Ford
Source: White House Office of Management and Budget
UP ARROW IS GOOD DOWN ARROW IS BAD
UP ARROW IS GOOD DOWN ARROW IS BAD - REPUBLICANS INCREASE DEFICIT
21. 21
Manufacturing Employment
Trends by Presidential Terms
UP IS GOOD FOR AMERICA DOWN IS BAD FOR AMERICA DEMOCRATS ARE GOOD FOR AMERICA
EVERY REPUBLICAN ADMINISTRATION SINCE WWII DESTROYED MANUFACTURING JOBS!!
22. 22
WHO GAVE US THE FEDERAL DEBT?
1913 through 2008 Average Deficit Spending with a…
Democratic President in Office (48 years): $75.7 billion average per year
Republican President in Office (48 years): $176.4 billion average per year
Or to avoid any back-end weighting effect let’s look at:
1977 through 2000 Average Deficit Spending with a…
Democratic President in Office (12 years): $148.9 billion average per year
Republican President in Office (12 years): $265.7 billion average per year
Why would you elect Republicans?
23. 23
WHO GAVE US THE FEDERAL DEBT?
1977 through 2007 Average Deficit Spending
(omitting Bush II’s disastrous last year to be fair) with a…
Democratic President in Office (12 years): $44.4 billion average per year
Republican President in Office (19 years): $310.6 billion average per year
Democrat House/Senate (14 years): $167.6 billion average per year
Republican House/Senate (10 years): $297.3 billion average per year
Split House/Senate (7 years): $203.7 billion per year
Why would you elect Republicans?
24. 24
Number in Poverty and Poverty Rate: 1959 to 2010
Kennedy/Johnson Nixon/Ford Carter Reagan/Bush Clinton Bush II Obama
POVERTY INCREASED BY 17 MILLION UNDER REPUBLICANS
AND
DECREASED BY 9 MILLION UNDER DEMOCRATS
25. 25
Government Spending
REPUBLICANS
DEMOCRATS
DEMOCRATS ARE THE RESPONSIBLE SPENDERS
26. 26
Percentage OF MALE WORKFORCE EMPLOYED Employed
% of Male Workforce
eeememployedEMPLOYED
Truman Eisenhower Kennedy/John Nixon/Ford Carter
Kennedy/Joh Reagan/Bush Clinton Bush II
Truman Eisenhower nson son Nixon/Ford Carter Reagan/Bush Clinton Bush II
Source: Bureau of Labor Statistics (www.bls.gov)
Source www.flickr.com
60 YEARS % OF MALE WORK FORCE EMPLOYED DECLINES 20 POINTS
60 YEARS - MALE WORKFORCE EMPLOYED–DECLINES 20 POINTS
NET FLAT UNDER DEMOCRATIC PRESIDENTS 25 YEARS
NET FLAT UNDER DEMOCRATIC PRESIDENTS - 25 YEARS
20 CUMULATIVE POINTS DOWN UNDER REPUBLICAN – 36 YEARS
20%AGE POINTS DOWN UNDER REPUBLICAN PRESIDENTS PRESIDENTS - 36 YEARS
27. 27
Change in U.S. Government Employees
CLINTON
CLINTON-OBAMA
OBAMA
NET GOVERNMENT JOBS ADDED UNDER CLINTON/OBAMA NEAR ZERO.
ALMOST 100% OF NEW GOVERNMENT JOBS SINCE 1980 ADDED UNDER REPUBLICANS!!
29. 29
SECTION 3
economics
WHAT YOU NEED TO KNOW ABOUT
ECONOMICS
30. 30
WHAT YOU NEED TO KNOW ABOUT ECONOMICS
ECONOMICS 101:
GDP GROWTH IS LINEAR, NOT EXPONENTIAL
THE CURRENT GDP GROWTH RATE IS NORMAL, NOT TOO SLOW
LOW UNEMPLOYMENT FROM 1995 TO 2008 WAS ANOMALOUS
THE CURRENT HIGH UNEMPLOYMENT IS STRUCTURAL, NOT
OBAMA’S FAILING
31. 31
WHAT YOU NEED TO KNOW ABOUT ECONOMICS
GDP GROWTH IS LINEAR, NOT EXPONENTIAL
FROM 1950 TO 1982 GDP GREW ON A LINEAR TREND OF $125 BILLION PER YEAR (B/YR)
IN 1982 THE “GARN-ST. GERMAIN ACT” DEREGULATED THRIFTS MAKING CREDIT MORE
AVAILABLE
IN 1982 CONSUMERS STARTED INCREASED BORROWING TO FINANCE CONSUMPTION
IN 1982 GDP STARTED GROWING AT A FASTER LINEAR RATE OF $235 B/YR
GDP ACCELERATED AGAIN ABOUT 1996 WITH THE DOT-COM BUBBLE TO $333 B/YR
DEBT AS % OF GDP STARTED GROWING AT A GREATLY ACCELERATED RATE
DEBT AS % OF GDP ACCELERATED FURTHER AS CREDIT BECAME MORE AVAILABLE
IN 1999 THE GRAMM-LEACH-BLILEY ACT WAS PASSED REPEALING GLASS-STEAGALL
IN 2003 THE FED DROPPED INTEREST RATES AND THE HOUSING BUBBLE WENT IN TO
HIGH GEAR
SINCE THE RECESSION BOTTOMED GDP IS AGAIN GROWING AT A LINEAR TREND OF $235
B/YR, EXACTLY IN LINE WITH THE 1982 TO 1996 GROWTH
IN 1950 125 B/YR WAS 6.25% IN 1982 235 B/YR WAS 3.9% IN 2010 235 B/YR WAS 1.8%
GDP DOES NOT GROW EXPONENTIALLY!!
32. 32
REAL GDP GROWS LINEAR NOT EXPONENTIAL
2.4%/YR = BUBBLE
ECONOMY
1.8%/YR
3.9%/YR
6.25%/YR
2 LONG PERIODS SUSTAINED LINEAR GROWTH PLUS ONE BUBBLE - %/YR GROWTH STEADILY DECLINING
33. 33
U.S. DEBT AS A PERCENTAGE OF GDP
Including gross federal debt annual
Reagan/Bush Clinton Bush II Obama
DEBT DROVE THE FASTER GROWTH AFTER 1982
DEMOCRATS - RESPONSIBLE DEBT GROWTH REPUBLICANS - IRRESPONSIBLE DEBT GROWTH
34. 34
GDP GROWTH RATE DECLINING
6.25%/YR
1.8%/YR
BLUE ARROW REFLECTS INFLATION - GROWING THEN DECLINING
REAL % GROWTH RATE STEADILY DECLINING FOR 60+ YEARS
GDP GROWTH IS LINEAR - NOT EXPONENTIAL!
35. 35
WHAT YOU NEED TO KNOW ABOUT ECONOMICS
DEMOGRAPHICS AND UNEMPLOYMENT
HIGH CONSUMER DEMAND GENERATES MORE JOBS
CONSUMERS’ PEAK SPENDING YEARS ARE FROM AGE 44 TO 50
THE “BOOMER” GENERATION (1946-1964) WAS A LARGE COHORT -
ABOUT 80 MILLION BIRTHS
BOOMERS WERE BIG SPENDERS
BOOMERS’ PEAK SPENDING YEARS WERE 1994 TO 2010
THE “GEN-X” GENERATION (1965-1983?) WAS A SMALL COHORT -
ABOUT 50 MILLION BIRTHS
36. 36
WHAT YOU NEED TO KNOW ABOUT ECONOMICS
DEMOGRAPHICS AND UNEMPLOYMENT
GEN-X WERE CREATING A WORKER VALLEY FROM 1986 TO 2007
THE PERIOD FROM 1994 THROUGH 2007 WAS PEAK DEMAND COMBINED
WITH WORKERVALLEY GIVING LOW UNEMPLOYMENT
THE START OF THE DOTCOM BUBBLE TO THE FINAL COLLAPSE OF THE
HOUSING BUBBLE WAS 1995 THROUGH MID 2008
THE TWO BUBBLES COINCIDED WITH THE DEMOGRAPHIC COINCIDENCE
TO GIVE ANOMALOUSLY LOW UNEMPLOYMENT
NOW WE HAVE MILLENIALS, A LARGE COHORT, ENTERING THE WORK
FORCE AS GEN-X, LOW SPENDERS, ENTER THEIR PEAK SPENDING YEARS
WE WILL HAVE LOW DEMAND AND HIGH UNEMPLOYMENT FOR MANY
YEARS TO COME.
37. 37
WHAT YOU NEED TO KNOW ABOUT ECONOMICS
JOBS DESTRUCTION AND UNEMPLOYMENT
POST WWII THE USA WAS THE WORLD’S INDUSTRIAL ENGINE FOR ABOUT
20 YEARS
IN THE LATE 1960s FOREIGN COMPETITION STARTED GROWING
ALSO IN THE LATE 1960s AMERICAN COMPANIES STARTED SETTING UP
OFFSHORE TO SERVE OVERSEAS MARKETS
DURING THE NEXT 20+ YEARS WE HAD INCREASING OUTSOURCING AND
AUTOMATION OF BLUECOLLAR JOBS
BY THE LATE 1980s WE STARTED AUTOMATING CLERICAL JOBS – EG: ATMs
IN THE LATE 1990s THE INTERNET ENABLED MASS JOB OFFSHORING
NOW COMPUTERS PLUS ARTIFICIAL INTELLIGENCE (INTELLIMATION) ARE
ENABLING ADVANCED ROBOTICS
38. 38
WHAT YOU NEED TO KNOW ABOUT ECONOMICS
JOBS DESTRUCTION AND UNEMPLOYMENT
THE ‘90s DECADE WAS ENRICHED BY THE GROWTH OF THE “KNOWLEDGE
ECONOMY”
INTELLIMATION IS NOW STARTING TO REPLACE KNOWLEDGE JOBS
HOUSEHOLD INCOME IS DECLINING AS BETTER AND BETTER PAYING JOBS
ARE BEING DESTROYED
WE HAVE HAVE HAD GROWING UNEMPLOYMENT FOR OVER 40 YEARS
7.5% TO 8% UNEMPLOYMENT IS NOW NORMAL, IE-STRUCTURAL, NOT
HIGH
DON’T BLAME PRESIDENT OBAMA
39. 39
DEMOGRAPHICS/JOB DESTRUCTION/UNEMPLOYMENT
DEMOGRAPHICS / JOB DESTRUCTION / UNEMPLOYMENT
False
False Attempted
Attempted Anomalous
Anomalous
trend line
trend line minimum
minimum unemployment
unemployment
ANOMALOUSLY LOW UNEMPLOYMENT 1995-2008 MISTAKENLY PERCEIVED AS NORMAL
UNEMPLOYMENT IS WITHIN NORMAL RANGE
UNEMPLOYMENT IS WITHIN NORMAL RANGE
NOW, INCREASED DEMAND INCREASES AUTOMATED/IMPORTED PRODUCTION, NOT JOBS
NOW, INTELLIMATION DESTROYING JOBS - REMAINING JOBS LOWER PAID
EXTRAORDINARY GOVERNMENT MEASURES NEEDED TO LOWER UNEMPLOYMENT - OPPOSED BY REPUBLICANS !!
41. 41
WHAT ROMNEY SAID…
“There are 47 percent of the people who will vote for the president no
matter what. All right, there are 47 percent who are with him, who are
dependent upon government, who believe that they are victims, who
believe the government has a responsibility to care for them, who believe
that they are entitled to health care, to food, to housing, to you-name-it --
that that's an entitlement. And the government should give it to them.
And they will vote for this president no matter what... These are people
who pay no income tax...”
WHAT ROMNEY MEANT?
TRUE - 46% OF HOUSEHOLDS PAY NO FEDERAL INCOME TAX
TRUE - 47% OF VOTERS SUPPORT OBAMA
THE PROBLEM
THESE AREN’T THE SAME 47%!
ROMNEY JUST SAYS WHATEVER OCCURS TO HIM WITH NO KNOWLEDGE OF
THE FACTS BEHIND WHAT HE SAYS
IS THIS THE KIND OF PRESIDENT WE WANT?
42. 42
LETS LOOK AT…
THE 47% THAT VOTE FOR OBAMA
62% ARE EMPLOYED
25 % ARE RETIRED
5% ARE TEMPORARILY UNEMPLOYED
56% HAVE INCOME ABOVE THE US MEDIAN
68% EARN BETWEEN $30,000 AND 100,000 PER YEAR
43% HAVE COLLEGE DEGREES
ANOTHER 20% HAVE HIGH SCHOOL DIPLOMAS
THEY ARE ABOVE AVERAGE IN EDUCATION AND EARNINGS
NOT MUCH LIKE VICTIMS WHO FEEL ENTITLED - ARE THEY
ROMNEY LIES!
43. 43
LETS LOOK AT…
THE 46% THAT PAY NO INCOME TAX
(ALMOST ALL PAY PAYROLL, PROPERTY AND/OR SALES TAXES)
50% ARE “WORKING POOR” - INCOME TOO LOW FOR TAXES
• ONLY 40% VOTED
• 30% OF THEM VOTED FOR McCAIN
50% HAVE TAXABLE INCOME WITH EXEMPTIONS
• 44% OF THEM HAVE ELDERLY EXEMPTIONS
- 70% OF THEM VOTED
- OF WHICH 53% VOTED FOR McCAIN
• 30% ARE LOW INCOME WITH CHILD EXEMPTIONS
• 6% ARE WORKING YOUNG WITH EDUCATION CREDITS
• ALMOST 20% ARE UNEMPLOYED - NOT BY CHOICE
NOT MUCH LIKE OBAMA GOVERNMENT DEPENDENTS - ARE THEY
ROMNEY LIES!
44. 44
LETS LOOK AT…
THE TOP 0.2% OF THE 46% THAT PAY NO INCOME TAX
71,000 HAD INCOME $211,000 TO $533,OOO
24,000 HAD INCOME $533,000 TO $2,200,000
3,000 HAD INCOME > $2,200,000
AND ROMNEY CONCEALS SEVERAL YEARS OF HIS TAX RETURNS
IS HE ONE OF THE 46%
45. 45
RED STATE SOCIALISM
RED STATES = TAKERS BLUE STATES = MAKERS GO BLUE - BE MAKERS
President Obama inherited a GDP in free-fall, declining at a 9% annual rate. In his first quarter in office he cut the decline to less than 7%, in the second quarter to less than 1% and by the third quarter had returned the economy to growth, with sustained growth since then.
From about 1983 to late 1996 the economy grew at a rate of close to $250B/yr. Then it went to a steeper and unsustainable slope with the dotcom and housing bubbles. In late 2008 the housing bubble burst and the GDP dropped precipitously. By mid 2009, with full impact of the recovery act, Obama’s policies had stopped the decline and returned the economy to growth. Since near mid 2009 it has been again growing at a rate of about $250B/yr, just like before the bubbles, and on a straight line from the pre-bubble growth, exactly where we would have been without the bubbles, and we don’t want another bubble. Obama’s policies have been a strong economic success.
With the end of August unemployment rate at 8.1%, unemployment has recovered at a faster rate then 5 of the last 6 recoveries, and matches the recovery rate of the 6th. Obama policies are achieving exceptional results. Other recoveries, especially starting mid 2003 have included government hiring. This time state and local governments have been cutting jobs. Private sector recovery under Obama is the fastest in 50 years. If President Obama’s American Jobs Act had not been blocked by the Republican Congress, unemployment would be lower by another 1 million jobs.
U-6 unemployment is also recovering faster than the last 2 recoveries, in spite of the State and local government job cuts. Obama inherited a 16% U-6 and is at 14.6% at the end of August. Note: the high unemployment rate is structural and is a result of 40 years of automation, outsourcing, offshoring and intellimation (replacement of knowledge jobs with the internet and artificial intelligence). See the Economics section for why the last 2 recoveries had abnormally low unemployment. If the Republicans had not blocked President Obama’s American Jobs Act U-6 would now be down to 14%.
In the last 30 months the economy has gained 4 million net jobs. The private sector has added 4.6 million jobs, while the public sector has lost 600,000 jobs. When President Obama took office employment was like a giant oil tanker running full speed toward the rocks. It took 4 months before he could begin slowing down the job losses. President Obama was inaugurated the 20th of January 2009, got the Recovery Act passed in late Feb., funds authorized and projects identified by end April, and was able to impact unemployment seriously starting in May of 2009. Job losses through April 2009 (at the least) are a Bush II legacy. In March 2010 President Obama had succeeded in turning around the ship of state and heading it away from the rocks. Since taking office, and discounting the Bush legacy, President Obama has added 2 million net jobs, and 2.6 million net private sector jobs. The Obama economic policies have been very effective.
Retail sales are growing slightly faster than the 60 year+ trend line. Obama economic policies are working.
Retail sales have reached a new all time high. Obama economic policies are working.
Exports are now above the 30 year trend line and at an all time high. Obama economic policies are working.
Corporate profits are doing extremely well.
When Republicans compare $3.90/gal gasoline prices under President Obama to “less than $2.00/gal” under Bush II, they are being disingenuous. Gasoline peaked at over $4.00/gal under President Bush, higher than the worst case under Obama. The President has zero control over world-wide supply and demand, and therefore zero control over gasoline prices. The price of gasoline fluctuates within a long term increasing price trend, and is within the normal band now. When Republicans blame President Obama and make cherry-picked comparisons they are lying.
In 60 years, from 1950 to 2010, 9 out of the last 10 recessions took place under Republican administrations. Why elect Republicans.
Since 1923 four out of five Republican administration periods have increased the deficit, one was flat, four out of five Democrat administration periods have decreased the deficit, one was flat. Republicans have generated a cumulative increase of 21% while Democrats have generated a cumulative decrease of 13%, for a net increase in deficit from 1% surplus left by Harding to a projected 7% deficit at end 2012 (See blue dot).
Since WWII we have lost manufacturing jobs under every, repeat – every Republican president, and have gained manufacturing jobs under every, repeat – every Democrat president. The black dot and last arrow to the right are where we might have been if the Republicans had not blocked President Obama’s American Jobs Act.
Since 1960 poverty has increased by a cumulative 17 million people under Republican administrations, and decreased by a cumulative 9 million people under Democrat administrations, for a net increase of 8 million people. Republican administrations have provided the net increase.
This chart shows who has increased government the most relative to where it was when he took office. Democrats shine, and Obama has not increased spending
One has to wonder why a majority of white males support the Republican party. It seems likely they are not aware of this trend.
On a net basis, the decline in government jobs under President Obama has now offset the gains under President Clinton. 100% of government job gains in the last 30 years have now taken place under Republican presidents. Which is the party of small government? In spite of the government job losses, President Obama’s policies are reducing unemployment faster than 5 of the last 6 recoveries.
With our health care running from 60% more to almost 3 times the cost in other developed countries, life expectancy in those countries is from 2 to 5 years longer than ours. All other developed countries have lower costs and better outcomes. The Affordable Care Act (Obamacare) will help to close the gap.
Since 1950 the economy has had 2 periods of about 30 years of linear growth. The second steeper period has been driven by increasing consumer debt. From 1996 an even steeper growth developed driven by 2 unsustainable bubbles. As consumers retrench, reducing their debt burden, even the present structural growth rate of about 1.8%/yr may not be sustainable. If we now went back to the 1950-1982 low debt growth of $125b/yr the growth rate would be about 0.9%. The economy is not growing slowly and President Obama should not be blamed for slow growth. An effort to grow 3%/yr would throw us back into a bubble economy.
Total US debt is federal, state, local and private sector. After a long slow sustainable growth for 30 years from 1952 to 1982, debt takes off under Reagan/Bush I, slows under Clinton, then explodes under Bush II. Obama may have us back on the old 30 year trend, but due to Republican profligacy, at a much higher level.
Real GDP % growth rate has been declining for more than 60 years. 6% was about the level of 1952, and under 2% is normal for 2012. Linear growth means a declining %age growth rate. Obama economic policy is achieving 2% growth as we should expect. Obama supporters should be bragging about economic success, not making excuses that growth is too slow.
Economists perceive the anomalously low unemployment from 1996 to 2008 as normal, and therefore expect unemployment now to decline to 5% or less. They are not looking at reality. The level of unemployment that we can associate with full employment has been growing for >60 years, and is now in the order of 7.5 to 8%.
This data is from 2005 and may have changed a little since the 2008 election, but is strongly indicative of the real Republican position on big government. Eight of the top 10 “get more then give”, or to use Ryan’s term “taker” states voted for John McCain for president in 2008 and all 15 whose outflow of tax revenue is funding programs elsewhere in the country voted for Obama. The uninsured for health care are at much higher percentages in red states than in blue states. As Obamacare fully kicks in in 2014, the above situation will become worse. And do any of you remember Sarah Palin saying “we Alaskans collectively own the resources”? They are #3 up there. In effect Obama supporters subsidize Romney supporters. If you want to change your state from a “taker” to a “maker”, elect Democrats
While Republicans oppose Obamacare, do they really want to turn it down? While Romney decries those who need government help, and their convention focused on “I made it”, red states are “takers” not “makers”. They need to recognize that “We make it – together” and talk their walk.