Obama’s Economy: Four Years Later

The economy is worse off now than when Barack Obama first took office in 2009

First Inauguration Second Inauguration Change
Long-Term Unemployed1 2.7 Million 4.8 Million +78%
Workforce Dropouts2 50.1 Million 54.6 Million +10%
Food Stamp Recipients3 22.8 Million 46.6 Million +104%
Price of Gas4 $1.85 $3.30 +78%
“High Unemployment” States5 22 39 +77%
Misery Index6 7.83 9.46 +21%
“Typical” Monthly Family Food Cost7 $974 $1,023 +5%
Median Value of Single-Family Home8 $196,600 $186,100 -5%
Rate of Mortgage Delinquencies9 6.65% 10.77% +62%
U.S. National Debt10 $10.6 Trillion $16.4 Trillion +55%

1 “Long-term unemployed” means for over 26 weeks; data for January 2009 and December 2012.
2 “Workforce Dropouts” are working age individuals aged 16-64 not in the labor force, not seasonally adjusted; data for December 2008 and December 2012.
3 “Food Stamp Recipients” means average annual participation in the Supplemental Nutrition Assistance Program (SNAP), formerly called food stamps; data for Fiscal Years 2008 and 2012.
4 Average retail price per gallon, in real dollars, January 2009 week 3 and January 2013 week 2.
5 “High unemployment” means having a 3-month average unemployment rate of 6% or higher.  From the Bureau of Labor Statistics’ “Extended Benefits Trigger Notice” for January 18, 2009 and January 13, 2013.
6 The “Misery Index” equals unemployment plus inflation.
7 According to the U.S. Department of Agriculture, these values represent monthly “moderate” cost per family of four for January 2009 and November 2012, in real dollars.
8 U.S. median sales price of existing single-family homes for metropolitan areas for 2008 and 2012 Q3.
9 Residential mortgage delinquencies (real estate loans) for 2008 Q4 and 2012 Q3.
10 Values for January 21, 2009 and January 16, 2013.

Source: House Committee on Ways & Means

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2 thoughts on “Obama’s Economy: Four Years Later

  1. Take your meds, boy. I loved you and your band when you were in Prague. What in hell has happened to you?

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