Obama would love for you to believe the economy has recovered since the collapse of 2008. He cites job creation on the rise while national unemployment is down. Digging at Donald Trump’s Make America Great Again slogan, President Obama said during his Rutgers University commencement speech, “The “good old days” weren’t that great. In fact, by almost every measure, America is better, and the world is better, than it was 50 years ago, or 30 years ago, or even eight years ago.”
So how come 78% of voters say the American economy has not recovered from the recession? How has Bernie Sanders, a self proclaimed socialist, come out of nowhere to win 19 Democratic primaries, trumpeting national economic overhaul? How has Donald Trump won the nomination of the Republican party whose establishment tried to destroy him, also promising to fundamentally revitalize our economy?
It’s because the numbers that the Obama administration touts regarding our economy are misleading, and the American public knows that. Although Trump and Sanders have fundamental differences in how to overhaul our economy, Americans on both sides of the aisle know the economic picture isn’t nearly as rosy as President Obama would have us believe.
50 million Americans are living under the poverty line; including three million more kids in poverty since Obama took office. 47 million Americans depend on food stamps, a 13 million increase since his first day. Workforce participation is at an all time low; 7 million people have stopped looking for work since 2008. The Federal interest rate is still nowhere near where it was in 2008, which has fueled our stalling GDP growth. Our economy is still in dire straights, and it is appalling that the current administration continues to ignore that.
Bernie Sanders and Donald Trump have built campaigns fueled by working-class frustration, albeit in very different ways. Trump has promised freedom of opportunity for all through renegotiating trade deals, cutting taxes, and overhauling immigration. In contrast, Sanders insists on ‘leveling the playing field’ by increasing taxes and increasing entitlement programs. In an effort to remove herself from Obama’s misguided rhetoric Hillary Clinton is even admitting there were ‘good old days’. She believes former president Clinton is to thank, saying of her husband, “I will put [former President Clinton] in charge of revitalizing the economy ’cause he knows what he’s doing.”
President Obama continues to hurt and divide America by pretending he fixed the economy. The statistics clearly say otherwise, as do voters. More people than ever are suffering under the current administration. In 1 in 5 households no one works. Real wages are down 8% pre-recession, while Obama’s directives have increased costs-per-worker, making it harder for businesses to hire new employees. Our economy is in need of an entirely new direction; one that Obama hasn’t been able to offer during his eight years. Obama’s inability to admit that America is suffering has led to the unlikely rise of two candidates: a socialist and a real estate mogul. President Obama has no one but himself to blame for both.