We've all witnessed our resident libs exclaiming how things are great and getting better these days but it's important, every now and then, to actually look at the facts. Here are six clear and indisputable economic indicators that we are headed into the toilet these days:
#1 For 192 straight months, the number of American workers collecting federal disability payments has increased. (8,830,026 as of January) In January of 1997, the last time that figure decreased, there were 24 Americans working full-time for each person collecting disability. Today, there are only 13 Americans working full-time for each person collecting disability.
#2 If converted into cash payments, total welfare spending in the US equals approximately $168 per day for every household in poverty. That’s higher than the $137 median income per day.
#3 “If you like your health care plan, you can keep your health care plan.” – President Barack Obama on Tuesday, August 11th, 2009. The CBO also estimates that President Obama’s health care law will push 7 million people out of their job-based insurance coverage. That’s more than twice the previous estimate and it confirms another lie.
#4 Supplemental Nutrition Assistance Program (SNAP – or food stamps) participation increased 74.9% from October of 2007 to October 2012.
October 2007 – 27,177,788
October 2012 – 47,525,329
That’s over 20 million people added.
#5 January of 2013 saw an addition of 157,000 jobs, but the labor force participation rate remained at 63.6%. Prior to Obama taking office, the last time the labor force participation rate was that low was in December of 1981.
#6 The CBO projects that the 10-year cumulative deficit is forecast at $6.958 trillion.