NEW YORK – Are you better off today economically than you were when President Obama took office in January 2009?
That question remains the litmus test for electoral politics as the U.S. prepares to move into the 2014 mid-term election cycle.
The economic scorecard for President Obama continues to provide reasons for alarm, despite Obama’s renewed attempt to emphasize yet again the plight of the U.S. economy and decline of the middle class.
Amid the most massive welfare state ever created in human history, four of five U.S. adults struggle with joblessness, near poverty, or reliance for at least part of their lives, according to a recent Associated Press report.
Even Obama-supporting Nobel Prize-winning economist and New York Times columnist Paul Krugman has acknowledged that terms such as “modest recovery,” “slow recovery” or even “recession” do not describe the economic malaise experienced under Obama’s presidency.
Arguing that the U.S. is in a “low-grade” depression, the liberal economist wrote July 5 that the U.S. economy may have entered “permanent stagnation,” a situation in which “high unemployment could become accepted as the new normal.”
Economist Peter Schiff, CEO of Euro Pacific Capital and author of the 2012 bestseller “The Real Crash: America’s Coming Bankruptcy – How to Save Yourself and Your Country” is even less sanguine.
Read more at http://www.wnd.com/2013/08/american-dream-dying-under-obama/#KxWj5VXbwSL2LBLg.99