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Why the U.S. Economy Deserves a D Grade

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Stephen Moore in the Washington Times gives the real report card on the economy under President Obama:

  • Economic growth: AnemicThis recovery is a bust. The growth rate of 2 percent under Mr. Obama’s recovery means we have $2 trillion less GDP today than we would if Obama’s performance had been average — i.e. a C grade.
  • College and Health Costs: SkyrocketingMr. Obama promised to lower health costs by $2,500 per family. But many states are reporting insurance premium increases of 10%, 20%, and even 30%. And medical costs are up significantly.University tuition costs are also surging. Tuition and fees at 4-year private nonprofit universities increased by about 26 percent to $31,000 a year.
  • Real Unemployment Rate in America: 10%Mr. Obama boasts that the unemployment rate is 5.1%, but this is a statistical trick. The real rate of unemployment is almost twice as high, and the number of Americans over the age of 16 that are not working is at an all-time record high.
  • Take Home Pay: FallingReal household income has declined by 3.1 percent since President Obama took office. Americans have not had a pay raise in almost 10 years.
  • Income Gaps RisingUnder the Obama administration, women, Hispanics, blacks, and young workers have recorded the biggest income declines.
  • National Debt: Tops $220,000 Per Household.
  • Taxes: UpPresident Obama has raised taxes on investment income, dead people, medical device manufacturers, health insurance policies, and Obamacare’s “individual mandate” amounts to a massive tax hike on the middle class. Furthermore, he U.S. now has the highest business tax in the world.
  • Cost of Government Regulations: UpNew regulations on power plants, fuel standards, finance, and healthcare raise costs on consumers while stifling industry. Regulations cost American consumers an all-time high $2 trillion a year.

To read Mr. Moore’s full assessment of why the bad news far outweighs the good news, go here.

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Debbie Young

Debbie, editor-in-chief of Richardcyoung.com, has been associate editor of Dick Young’s investment strategy reports for over three decades. When not in Key West, Debbie spends her free time researching and writing in and about Paris and Burgundy, France, cooking on her AGA Cooker, and practicing yoga.