A World Of Our Own Making

As a follow up to the last post concerning America's needed financial responsibility discussed @ Senator Tom Coburn's Town Hall meeting last month below are two recent O'Reilly Factor memos that address additional economic points.  Bill makes some excellent points but misses one very big one – namely, the majority of the electorate has twice elected the country's biggest enemy since King George III & all of the economic hardship & misery is the result of BO's deliberate plan.  It is a world of our own making.

 

The first memo below describes the economic problems we are facing today & includes many facts that have been presented on RTE.  The problem is that Bill never quite connects all the dots & after portraying a miserable state of affairs for the country still asks "why President Obama doesn't understand that I simply don't know."

 

How much evidence do people need to realize the financial hole we are digging for ourselves only gets deeper every day & not only does BO understand this he is the one who is providing & operating the heavy duty excavating equipment that is digging the hole.

 

Bill discussed this with a guest & commented "If the President were a baseball manager he would have been fired; the economy has not improved in five years!"  But BO wasn't fired; he was reelected meaning something else is in play & that something is people have substituted government benefits for jobs & BO is only too willing to accommodate.

 

Below is an analysis of every group of workers that shows the effects of BO's plan of economic destruction & government dependence, now in its fifth year of implementation.

 

BO has reversed the upward income mobility most people experience during their working years.  Economist Steve Moore reports that in the four years since the economic recovery started in June 2009 the incomes of households headed by single women is down 7%, people under 25 down 9.6%, blacks down 10.9%, Hispanics down 4.5%, & workers with high school education or less down 8%.  Ironically these are the voting blocks that carried BO to victory in 2012.

 

See graph below to see the effect of BO's policies on household incomes of all groups.  There certainly is a contribution to the downward mobility curve made by people in the highest income earning group (usually people reach this group starting in their middle to late 30s & accordingly are distinguished from high net worth individuals). 

 

click on graph to enlarge

 

People in their 50s or over who have been out of work for any appreciable period of time will never work again except possibly in some meager part time job.  The graph below indicates that only 10% of the 4.25 million people unemployed six months or longer find work each month.  The percentage of those over 50 finding work each month is even less.

 

 

I know of a case where a person in their late 40s lost a good paying job with benefits several years ago & now receives disability.  They recently moved in with a parent who receives Social Security.  Since this is still not enough to maintain the house & living expenses another family member chips in. 

 

This type of example is quite prevalent across the country as many people over the past several years have moved in with other family members with every able bodied person getting whatever mediocre job they can find & of course topping this off with government benefits & their own wealth spend down.  What a way to make ends meet.

 

This family consolidation trend includes college graduates returning home with no job or job prospects.  If parents are not careful their wealth spend down hurts their own retirement plans.  The WSJ reports 22.6 million adults (36% of the total) between 18 & 34 living with their parents, 26% of the parents have taken on debt because of the kids living with them, 7% of parents have delayed their retirement because of the kids moving back in, & 30% of parents gave up privacy due to their adult children.

 

See graph below – BO did not start this trend but his policies capitalize on it.  The graph represents 9 million young people who have forfeited one quarter of their lifetime earning ability – something they will never make up.

 

click on graph to enlarge

 

 

Recent college graduates have mountains of student loan debt & have moved back with their parents to record high levels as indicated in the above graph.  Fifty three percent of college graduates under 25 are either unemployed or underemployed.  Bill writes in his second memo below "you do that (start @ a fast food restaurant) to get experience & a better job...& if you get educated & work hard you will not be making minimum wage."  BO's policies are designed to make sure the very young get no work experience – the graph below shows that even though teen unemployment rates have declined somewhat they are still way too high to give many young people a chance @ gaining needed experience. 

 

click on graph to enlarge

 

Over five years ago BO clearly told us that he planned to fundamentally transform America & the above information documents that he is well on his way – all the worst for the unsuspecting public the longer it goes on.  As shown above every group is worse off under BO's policies & that is by design.

 

The sooner Bill & others start to call this out the better off everyone will be.  All of this deterioration of America is exactly what BO is working for.  BO didn't create all of this but he sure came along @ the right time to accelerate it & prolong it. 

 

BO's two election victories are a reflection of the majority of the electorate.  Now you can say that the majority did that but not you.  The question then is exactly what did you do to contribute to preserving the republic that is under an onslaught of attack every day?  Only you can answer that in your heart of hearts & make amends as you see fit.

 

The State of our Economy – O'Reilly Memo – August 22, 2013

"In order for more than 300-million Americans to have a chance at prosperity you need a vibrant economy. The USA does not have one and that is now on President Obama. The President's focus is on 'economic justice,' giving help to Americans who don't have much. Providing vast federal entitlements means big spending and taxation. Also, the President doesn't seem to trust the capitalistic system and has instituted regulations that might be inhibiting business expansion. So the 'social justice' plan is failing and the U.S. economy is stagnant, as are wages for working Americans. 7 out of 8 jobs created during the Obama administration have been part-time jobs and 54% of American workers make less than $30,000 a year. When Mr. Obama took office the average duration of unemployment paid to an individual was 20 weeks, now it's 37 weeks. More than 8-million people have stopped looking for work and Americans receiving food stamps increased by 11,000 every single day during the President's first term. Democrats blame income inequality and want even more federal intrusion into the economy; Republicans want the exact opposite, believing that helping private business expand is the key to a more competitive marketplace. Talking Points understands that wages rise when workers are in demand, but today competition for jobs is driving wages down. Only business expansion will turn that dire situation around, and why President Obama doesn't understand that I simply don't know."

 

Fast Food Fight – O'Reilly Memo – August 29, 2013

"Thousands of Americans working in fast food places are demanding that their wages be doubled to $15 an hour. President Obama is sympathetic and the left generally believes our economic system is unjust to working Americans. So let's take a look at that, beginning with my working history. My first job was at a Carvel stand where I was paid minimum wage. I understood that I was a rookie and could get a recommendation, so I didn't complain about the pay. The next summer I got my lifeguard certification and became a water safety instructor, making five times more than at Carvel. The next year I needed more money so I started a painting business and did that for five summers. Then I went to graduate school and drove a taxi in the summer. After graduating with a masters in broadcast journalism, I took a very low-paying job at a TV station in Scranton, Pennsylvania. I had to work for peanuts, but I knew that if I did good work I would rise up. Nobody's forced to work at a fast-food joint, you do that to get experience and a better job. The USA is a capitalist country and if you get educated and work hard you will not be making minimum wage. But many Americans feel they are entitled to high-paying jobs, and if they don't secure them, here come the charges of 'economic injustice' and 'oppression.' If the workplace where I was became unjust or unproductive, I went someplace else. So let's stop the whining, shall we? This country offers huge opportunities. Seize them!"