Why This Obama Recovery Meme is Misleading – Part 2

In Part 1 of this series, we showed why the first claim – Obama taking a victory lap for the rise in stock market – was misleading.

Let’s take a look at five of the other claims in the meme

Claims #2 and #6: “I cut unemployment in half and reduced Bush deficits by 2/3rd”

I have addressed these issues in detail in the video: How they lie to you about the economy – inflation, unemployment, deficit & debt. But let me quickly recap the major points here:

Unemployment: Obama conveniently uses, for comparison, the unemployment numbers from 2010 when it was about 10%. But 2010 was one year after he came to the office. In January 2009, when he became the president, the unemployment was only 7%. So, this claim of reducing unemployment by half is fudging, at the best.

Second, the four tricks that have been used to reduce the unemployment rate under Obama have been:

  • increased number of people on disability
  • increased number of young people going to college, thanks to generous student loans (which is now $1.2 trillion – doubled since 2008 – and is going to be a big problem in the near future)
  • many full-time jobs being converted into part-time, temp and contractor jobs
  • increased number of people dropping out of the labor force altogether. The labor participation rate now is the lowest since the 1970s.

Deficit: This has been covered in the same video mentioned before. But to quickly recap, these days, all politicians and the media talk about “deficit” when they really refer to “primary deficit” which doesn’t account for the interest payments on the existing massive and growing debt. So, if you look at the deficit, it has been almost $1 trillion every year. That’s why Obama came into the office with under $11 trillion of debt and will be leaving in 2017 with $20 trillion of debt.

Claims #3 and #7: “I ended two wars and got Bin Laden”

Ended wars in Iraq and Afghanistan? Sort of. There are still many American soldiers and contractors in Iraq and Afghanistan. Private contractors are not conveniently included in the official number of troops, although many of them are Americans and all of them are getting paid by the American taxpayers. So, this claim is a partial lie.

What is not mentioned in this meme is that even as he wound down two wars, he started two new wars in Syria and Libya. He destroyed those two countries and caused exactly the same problems that Bush II caused – more terrorism, millions of refugees, and hundreds of thousands killed.

Thanks to Obama, Libya is now in utter chaos, taken over by ISIS and other crazy jihadists. Syria is completely destroyed. You can read about the overt and covert wars on Libya and Syria by the U.S. and its allies in these two of my articles:

Chaos in Syria, Part One – 3 Motives and 7 Countries

Chaos in Syria, Part Two – Destruction, ISIS and Beyond

As for Bin Laden, great, Obama just replaced Bin Laden with ISIS. One bogeyman got boring, so we got a new and improved “bogeyman v2.0”.

Claim #5: “I brought down the gas price”

Oil price has dropped from $140 a barrel to $30 a barrel. It’s not because of Obama. It’s because the global economy has been slowing down. All commodities are down – coal, lumber, copper, iron ore etc. And there is nothing to celebrate, since oil companies have laid-off more than 130,000 Americans, 1/3rd of oil companies are at the risk of going bankrupt, and the banks are going to lose hundreds of billions of dollars of loans that were given to the oil companies. You can read more about this topic in my other blog post: 2016 = Stock market Crash and Recession.

Finally, this is not a personal attack in Obama or the Democrats. Americans need to be aware of the scam perpetrated by both parties. The goal is to be informed so we can demand truth and better governance.

 

 

 

 

 

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