Daily Archives: July 6, 2011

Obama’s economic record

From a Human Events article by Merrill Matthews

Obama’s Record Energy:

Gasoline was $1.67 a gallon then. It’s now $3.79.

Food: Average cost of a gallon of milk was about $2.65. It’s about $3.50 today.

Housing: The median cost of a home was $229,600. Today it’s $217,900.

Budget deficit: We fell $438 billion short of balancing the federal budget in 2008. We missed it by $1.4 trillion this year—nearly four times higher.

U.S. debt: Total federal debt was $10.7 trillion then. It’s $14.5 trillion now—nearly 50% higher.

Unemployment: Then, 7.3% of Americans were unemployed and 9.1% are unemployed today.

To be fair, not everyone has done poorly under Obama. Federal government employees have made out like bandits. Mercatus Center (George Mason University) economist Veronique de Rugy noted last January that “federal employment has grown by 98,000 employees since the start of the recession.” And USA Today reported last year: “Federal civil servants earned average pay and benefits of $123,049 in 2009 while private workers made $61,051 in total compensation, according to the Bureau of Economic Analysis.”

[Get rid of the fucking hope and change…]