Economic Growth

88 Months of Job Growth, All Time Record, So Future Is Economic Recession, Just A Question Of When And How Severe

America has experienced 88 months of job growth and an improving economy, an all time record, so the future is economic recession, with the only question being when and how severe it will be.

It is like gravity, in that what goes up must come down, and Donald Trump has been bragging as if he created the economic growth, when it was the contribution of Barack Obama, who was overseer over the greatest economic recovery in American history, and without war.

Franklin D. Roosevelt is credited with helping to solve the Great Depression in the 1930s, but it took until war spending for World War II for the recovery to be totally successful, while Obama avoided a major war, and created the economic conditions that now Trump is making it as if he did it all by himself in the past year.

Trump came into office with a great economy, while Obama came in at the worst time since Herbert Hoover, and had to deal with what we call the Great Recession.

As I write this, the stock market has had its two worst days in two years, losing 666 points on Friday, and 1175 on Monday, making for the greatest two day loss in stock market history. The market actually went down 1579 before it revived to 1175 by the close of trading. So it went down in the past two days by 1840, a total of seven percent of the stock market.

It will be interesting to see how Donald Trump reacts to this, since he loves to give himself credit for the improvement in the stock market, even though it was steadily rising under Barack Obama, who he will never give credit to on anything.

if the economy falters, Trump will lose a lot of his supporters, and his public opinion polls will collapse into the 20s instead of the low to mid 30s where it is right now.

Barack Obama Produced An Economic Miracle Without War, Better Than FDR, But Not Acknowledged By Donald Trump

This blogger saw a headline on MSNBC yesterday, stating that the stock market was on an upward spiral for the 8th year in a row in 2017.

That is correct, and Donald Trump keeps on reminding us of that fact.

But what he and the cable station did not make clear with that headline, is that the stock market has been going up steadily since 2010, the second year of the Barack Obama Presidency.

Obama had SEVEN years of economic growth, and the stock market up went up more than 250 percent in those eight years, unmatched in American history.

Additionally, unemployment went from 10 percent when Obama came into office to under 5 percent when Obama left office, a truly magnificent accomplishment.

Obama had to deal with the Great Recession that occurred under George W. Bush, and he brought about a tremendous revival, greater than Franklin D. Roosevelt during the Great Depression, which he inherited from Herbert Hoover. FDR needed the war spending on World War II in 1939-1940, before we entered that war in 1941, to fully revive the economy.

So Obama had a greater success than FDR, and without America going into or about to enter into a major war.

That is no mean feat, and yet, Donald Trump acts as if the great economy he inherited was all due to him, and refuses to give any credit to Barack Obama. Trump is extremely lucky to have had a good economy when he entered office, unlike FDR and Obama, but that makes what they accomplished, even more impressive.

So the facts are that Barack Obama produced an economic miracle, which will help him to rise in rankings of Presidents in the future, from the present Number 12 in the C Span Survey of Presidential Scholars in January 2017.

Democratic Presidents Create Twice As Many Jobs As Republican Presidents!

Statistics prove that Democratic Presidents have presided over the creation of twice the number of new jobs, as compared to Republican Presidents since 1940.

Under Franklin D. Roosevelt, Harry Truman, John F. Kennedy, Lyndon B. Johnson, Jimmy Carter, Bill Clinton and Barack Obama, from 1940-2015, 74 million jobs have been created.

Under Dwight D. Eisenhower, Richard Nixon, Gerald Ford, Ronald Reagan, George H. W. Bush, and George W. Bush, 35 million jobs have been created over the same 75 year period.

Also, all of the major economic downturns since 1940 occurred under Republican Presidents as follows:

1958 recession–Eisenhower

1974-1975 recession—Nixon and Ford

1981-1982 recession—Reagan

1992 recession—H W Bush

2007-2009 Great Recession–W Bush

These are facts, whether Republicans want to accept them or not as the truth!

Meanwhile, the greatest periods of economic growth since 1940 were under  Franklin D. Roosevelt, John F. Kennedy, Lyndon B. Johnson, Bill Clinton, and Barack Obama!

 

Obama’s State Of The Union: A Liberated President Making The Democratic Values Case!

Barack Obama is finally liberated as he began his seventh year in the Presidency on the sixth anniversary of his inauguration as the 44th President of the United States.

Obama made an appeal to the opposition Republicans to cooperate and work together, but he also made clear he was going to charge ahead on a list of goals that are a marker for the next Democratic Presidential nominee and the Presidential Election of 2016.

He called for infrastructure spending; free community college tuition; child care tax credits; paid leave for workers; immigration reform; effective regulation of gun purchases; tax cuts for the middle class; tax increases on the wealthy and large financial institutions; pointed out the greatest economic success and growth since 1999; threatened use of the veto when necessary; called for authorization of force against ISIL (ISIS); called for action on climate change; used the term transgender in his call for fair treatment of gays and lesbians; called for more support in dealing with improved relations with Cuba; emphasized the need to fight against anti semitism, but also try to come up with a nuclear agreement with Iran; and work to avoid more troops on the ground overseas.

Much of this agenda will not be accomplished, but sets a goal line for the future.

Meanwhile, Senator Joni Ernst of Iowa surprised many observers by NOT totally falling on her face in her Republican response to the State of the Union address, but her speech was mainly platitudes and folksiness, not substantial alternatives to what Obama proposed, but rather a condemnation of what Obama has done, particularly ObamaCare. She also did not speak on such important issues as climate change, immigration, foreign policy, and helping working families, but then, the Republicans always stand in the way of progress on so many issues, so it is not surprising that her speech was lacking.

Alternate Universe Of The Right Wing On Barack Obama And The Economy

The Right Wing on talk radio and Fox News Channel, and the Republican Party nationally and locally, demonize Barack Obama on every subject imaginable, including the economy.

At the same time, the following is reality:

The stock market is at its all time high, about 150 percent above what it was when Barack Obama became President six years ago.

The unemployment rate is the lowest since the beginning of the Great Recession under George W. Bush in 2008, and millions of jobs have been created, with the number of jobs lost all regained, and new additional jobs created, and starting to be better paid jobs.

The increase in the deficit on the annual budget is the lowest it has been since the Bill Clinton Administration.

Ten million more people have health care now, due to the expansion of Medicaid and the adoption of ObamaCare, and health care costs have decreased for many.

The price of gasoline is the lowest in five years.

We have seen record corporate earnings in the pasty year.

Economic Growth, at five percent in the third quarter, is the highest since 2003.

The Obama public opinion rating shot up four points last month, the highest in nearly two years.

America has a positive view of the economy for the first time since 2007, when the economic decline began, and accelerated rapidly.

Considering that the Republican Party controlled the House of Representatives for 16 of the past 20 years, and the Senate for 13 of the previous 20 years, it is clear that Barack Obama has presided over a growing economic boom, as occurred under Bill Clinton, but did not under George W. Bush!

Economic Revival And Success Of Health Care Law Should Favor Democrats In Midterm Elections Of 2014!

More than ever, many public opinion polls seem to indicate that the Republican Party is to have a major success, gaining seats in the House of Representatives, and winning control of the US Senate!

But polls have been wrong before, and it is very hard to believe with economic revival reaching the recovery of the number of jobs lost in 2008-2009, plus the clear success of the Affordable Care Act (ObamaCare) after a difficult start, that most of the eight million and more people who have signed up are going, either to sit home, or to vote against their own economic interests!

If the polls are correct, then the people are at fault, either for failing to exercise their right to vote, or can simply be told that they have, out of lack of knowledge and understanding, voted against what makes common sense, support for the Democratic Party!

The old saying is that people get the government they deserve, so if millions of people choose to support a party that has undermined the middle class and the poor, nothing else can be said except maybe, some day, they will learn their lesson, and realize the mistake they have made, that has only enriched the very wealthy at their expense!

The Dangers Of An Impeachment Move Against President Obama

With reckless discussion and growing threats of an impeachment move against President Barack Obama, the country lurches toward a situation which creates great dangers for the nation, as well as the 44th President of the United States.

The irony of it all is that, under no circumstances, would an impeachment move lead to the removal of the President from his position before the time his term of office ends on January 20, 2017!

Were it otherwise, Vice President Joe Biden would succeed Obama, and be likely to get an edge on the 2016 nomination, and to keep the office for the full term, similar to what happened after Lyndon B. Johnson became President upon the assassination of President John F. Kennedy in 1963, and almost happened to Gerald Ford after he succeeded the resigned Richard Nixon in 1974, only losing the Presidency by two percentage points to Democrat Jimmy Carter in 1976, and even would have won that election if a few thousand votes had switched in the states of Ohio and Hawaii.

But although Obama would survive any impeachment threat, the idea is very bad for the stability of the American nation and political system in the following ways:

It would bring up the ugly element of racism, which is very prevalent in our society as it is, but would be elevated by an attack of the right wing on Obama, a lot of it based on suspicion of the “black man” in the White House, who doesn’t seem to be a “true” American to the hate mongers, who have been unwilling to accept the fact that he was born in Hawaii, and is a legitimate President, elected twice by the American people in a clear cut electoral vote and popular vote margin!

The racial tensions already evident in our society are not just of blacks and whites, but also between Latinos and white Anglos, and even between Asian Americans and whites, who resent that they are in a losing battle demographically in a nation rapidly becoming a majority minority within the next three decades. Nothing will change that reality, and the future will include the likelihood of other African American Presidents, or more likely a Latino President, or even possibly an Asian American President, and even the possibility of a non Christian President, whether Jewish or Muslim! Additionally, we are going to have a future woman President, even if it is not Hillary Clinton!

Beyond the racial divide, an Obama impeachment would undermine the ability of the nation to continue its economic recovery, and that is something this country cannot afford, as it harms not just the Obama economic record, but real life situations of millions of Americans, and harms women and children, even more than men in the long run, as it inflates the poverty level of single women and their children, scarring the future for millions of American children, whose childhood experiences can harm them for life!

An Obama impeachment would endanger the international scene, and the ability to fight terrorism, and face the challenges of Iran, North Korea, Russia, China, and other nations that would love a wounded America in foreign policy and national security.

An Obama impeachment would also poison ever further the political divide between Republicans and Democrats, between “red” and “blue” states, and could lead to the long range danger of a civil war, not just of racial and ethnic groups, but between those who dream of secession from America, and unfortunately, have paranoid elements who have been building up large caches of firearms, that they would be ready to use against other Americans, law enforcement authorities, and even the US military, which could cost tens of thousands of lives! There is already a powder keg situation, in which crime against people based on their ethnicity, race, or sexual orientation has been growing!

Finally, and the greatest fear for anyone who cares about the long term American future, there is the massive danger of a successful attempt against the life of President Obama, with the realization, as this author has discovered in research for his upcoming book on Presidential Assassinations and the American Presidency, due out in 2015, that Obama has been subjected to an average of up to 30 stated or revealed threats per day, or about 10,000 per year, since he has become President, more than any President except maybe Abraham Lincoln, but probably more than Lincoln in reality!

Reported and published threats in the news media number at least 36 at this writing, much more than any other modern President for sure, and the number keeps on growing, and this is just what we know publicly, not the true story of Secret Service records, which remain secret!

So the publicity of an Obama impeachment effort would bring out ever more whackos and wing nuts who would like nothing better than to use the excuse of the impeachment controversy to try to gain permanent fame by assassinating Barack Obama, and that would further poison the American populace, and would likely be the beginning of a widespread civil insurrection, that might be hard to stop!

This author has hinted at these fears before, and it can be hoped that Speaker John Boehner and other Republican leaders will understand the dangers of an impeachment move, stop the rhetoric that Obama is a dictator breaking the Constitution, and allow our 44th President to finish his time in office, without further endangering his personal security and safety, and realize that they have made a dangerous error in allowing themselves to cater to an extreme right that endangers not only Obama, but really themselves, and also the civil order of the American nation!

It is time to stop the divisiveness, and to work with President Obama for the benefit and progress of the American people, or else the names and reputations of these Republican leaders will be condemned in the long run of American history!

The Economy Improving Greatly, But Obama Gets Little Credit For It!

The American economy is rapidly growing and improving, and the future is bright, except for the problem of unemployment. The auto industry is booming, as Obama saved the industry by giving them assistance in 2009-2010, and the expansion of the economy has also been benefited by three to four percent growth in the past two economic quarters. But one would get the impression that Barack Obama deserves no credit, when he deserves most of the credit for the improvements!

There is still the issue of refusal of the GOP House of Representatives to promote infrastructure spending, to raise the minimum wage to the level of inflation over the years, to continue the assistance to long term unemployed to avoid starvation and homelessness, and the need to push for education, as the future for the young, with proof that the more educated one is, the much lower the unemployment rate really is, and will continue to be. Also, lowering the debt for college students and graduates, as much as there are subsidies for corporations, would be a massive move in the right direction.

That is why it is essential for an end to the deadlock in the nation’s capital, and for action to be taken, but if not, the urgency of a Democratic Congress majority in both houses in November’s midterm elections is apparent!

Desperate Need For Infrastructure Obvious After Train Tragedy In NYC

It has been stated for the past five years by the Obama Administration, that there is a dire need for infrastructure spending, not only to create jobs as part of the economic recovery, but also to upgrade our deteriorating transportation system, whether highways, bridges, tunnels, airports, seaports, or train systems all across America.

Now with the train tragedy in New York City yesterday, the emphasis on the need to do something to upgrade our entire infrastructure shouts out at us more than ever, but the Republican Party has its head in the sand, and will not promote funding for what is essential for the American future.

We are now 14th in infrastructure statistics worldwide, and this is simply not sustainable for the long run, and the nation will suffer dramatically unless a drastic change in attitude, and willingness to fund growth, is accomplished!

The Effect Of Immigrants And Their Children In The Future American Workforce

With the Baby Boomer generation retiring over the next two decades, we will need millions of new workers to enter the workforce to replace them, and to provide economic growth, and provide for the sustaining of Social Security and Medicare.

Much of that new workforce will be immigrants and their children, which are estimated to be 85 percent of the growth of the workforce over the next two decades, and are the group where most of the younger generation is evolving.

About 83 million people will enter the workforce over the next two decades, with about 59 million replacing retirees, and 24 million being the growth in the workforce.

About 31.5 million of the 83 million workforce entrants will be immigrants and their children, with, again, 85 percent of the 24 million workforce growth being immigrants and their children.

So we need to accept that those immigrants that are here illegally, will need to be integrated into the workforce, need to be educated, and their children given opportunity, that will not only benefit them, but the entire society!

So as in past generations, it is immigrants and their children that will sustain the growth and greatness of the American nation!