The League of American Voters want you to consider the following points as you listen to the rhetorical nonsense that is the Obama/Biden claim that "the recession is over." Understand that industry is doing fairly well while housing related issues and employment are in the tank. Two out of three makes for darker days on the horizon.
- At Obama’s Inauguration, the price at the pump for gas was $1.83. It has more than DOUBLED since and now some say it could even TRIPLE to $5 or $6 a gallon!
- The official U.S. unemployment rate has jumped back up to 9%. But this pathetic number only puts a smiley face on the real misery. Unemployment spikes to a whopping 15.9% when one counts Americans who’ve grown so discouraged they’ve given up even looking for work or those who’ve settled for part-time work (Bureau of Labor Statistics).
- According to Zillow, home prices have plummeted “at their fastest rate since the Lehman collapse.” Now called “zombie homeowners” because they’re financially walking dead, an all-time record “16.3 million families are upside-down on their home loans.”
- A study by the New America Foundation finds “8.5 million people receiving unemployment checks and over 40 million receiving food stamps. At the current pace of job creation, the economy won't return to full employment until 2018.”
- Wal-Mart’s CEO says its customers are “running out of money” with purchases “dropping off by the end of the month even more than last year"
- The Wall Street Journal says “the dollar today is lower than at any time since major currencies began floating in 1973. It is 13% lower than it was 30 years ago and 28% below its 2002 recent peak.”
- Standard & Poor’s, the independent credit rating agency, downgraded the outlook for the United States to negative from stable, saying within two years there's at least a one-in-three chance it could lower its long-term rating.
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