When the President tells the American people that the nation has made "extraordinary progress" in recovering from the economic downturn, it is all too obvious that someone should ask the follow-up question, "Compared to what?"
Obama offered his "extraordinary" description at a fundraiser for his re-election in Washington a few weeks ago, so in that crowd of regular Obama Kool-Aid drinkers nobody was willing to call him on the outlandishness of the statement.
In reality, this supposed recovery is the "worst on record since World War II" as the Wall Street Journal and Investor's Business Daily were quick to document following last Friday's horrible jobs report. There have now been eleven recessions since the Great War ended.
The following set of graphics courtesy of IBD, tells much of the disappointing truth of the economic facts. It is particularly revealing in that it compares the dismal performance of the Obama recovery to the average of the other ten recessions in the post-WW II era. The only thing "extraordinary" is the extent of the failure of Obama's economic policies and his attempt to deceive the American people.
Source: Investor's Business Daily
NEW TIME Today, at 9:30 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for November 19th, 2014 | John Ransom
NEW TIME Today, at 9:30 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for November 17th, 2014 | John Ransom