Aug 5, 2012 1 Comment ›› Pat Dollard
(THE BLAZE) A stunning collection of 70 facts about the U.S. economy just posted on the web is probably not going to make it into the next campaign ad from the folks at Obama for America. However, you might want to read it.
TheBlaze has culled 10 from the list of 70 here:
The price of gas – When Obama took office, a gallon of gas cost you $1.85. Today, it’s up to $3.59 per gallon (July’s rise was 17 cents a gallon).
71% of small business owners believe we’re still in a recession — Despite government claims that the recession actually ended years ago, a majority of small business owners feel very differently.
You have to work 107 days each year just to pay Federal, State, & Local taxes – That means you don’t earn a penny until April 18th.
More than 30% of unemployed Americans have been out of work for more than a year – In 2007, that number was 10%.
Low income America – According to NBC News, virtually half of all Americans are considered to be “low income” or living in poverty.
Propping up the economy by monetizing our massive debt — In 2008, the Federal Reserve bought “negligible” amounts of our debt, last year the Fed purchased 61% of the government debt issued by the Treasury Dept.
Speaking of “no faith in the US Dollar” – The price of gold when Obama was inaugurated, $850 an ounce. Today, gold is over $1500.
The disappearing family farm – In the mid-1930s, America had an estimated 6.8 million farms. Today, the EPA estimates that number to be right around two million (and getting squeezed more and more by constricting regulation).
Another (bad) trade record set with China – In 2011, our trade deficit with China was almost $300 billion dollars. That is the single highest deficit that one country has had with another… ever.
A stunning amount spent on stupid studies like Why do chimps throw their poop?
– Almost $600,000 of your tax dollars was sent to the folks who studied chimpanzee poop tossing, plus $198,195 paid to find out if “tweeting” makes people happy