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Obama brags in face of economic failure

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'We could have been lifting wages even faster than we did. And those things keep me up at night sometimes.'

We all know "that guy." You know the one - the guy who is obsessed with conspiracy theories and who swears the government is out to get us.

Well, according to newly released economic data, "that guy" might be (partially) right.

We ask you, humbly: don't scroll away.

Hi readers, it seems you use Catholic Online a lot; that's great! It's a little awkward to ask, but we need your help. If you have already donated, we sincerely thank you. We're not salespeople, but we depend on donations averaging $14.76 and fewer than 1% of readers give. If you donate just $5.00, the price of your coffee, Catholic Online School could keep thriving. Thank you.

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Highlights

By Kenya Sinclair (CALIFORNIA NETWORK)
CALIFORNIA NETWORK (https://www.youtube.com/c/californianetwork)
5/2/2016 (5 years ago)

Published in Business & Economics

Keywords: Economy, work, jobs, Obama, pay

LOS ANGELES, CA (Catholic Online) - U.S. President Barack Obama brags about his role in the rising economy - but is it really doing as well as his administration claims it is?

According to the Economics and Statistics Administration, the Gross Domestic Product grew by an annual rate of 0.5 percent within the first three months of 2016.


Gross Domestic Product is the total value of goods and services created within the span of a single year.

While production slowly increases, the number of Americans working finding work slowly creeps up - with most jobs being part-time.

Wages have also fallen - leaving an even wider gap between the super-rich and the middle and lower classes.

In fact, many of the middle class continue to plunge into the lower class as wages refuse to rise.


Former U.S. President Bill Clinton explained: "Millions and millions and millions of people look at that pretty picture of America," painted by Obama, "and they cannot find themselves in it to save their lives."

Though Clinton's administration was no better, the least that can be said is that Clinton never attempted to convince the American people that he did.

In fact, President Obama took to The New York Times to claim his management of the economy was perhaps the best seen in modern history.

"I actually compare our economic performance to how, historically, countries that have wrenching financial crises perform," he stated. "By that measure, we probably managed this better than any large economy on Earth in modern history."

As previously stated, economic growth has only increased 0.5 percent - the slowest pace seen in the past two years.

In response to the low percentage, Obama replied: "We were moving so fast early on that we couldn't take victory laps. We couldn't explain everything we were doing.

"I mean, the truth of the matter is that if we had been able to more effectively communicate all the steps we had taken to the swing voter, then we might have maintained a majority in the House or the Senate. ... We could have been lifting wages even faster than we did. And those things keep me up at night sometimes."

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