Since he entered office, Obama managed to create an economy that hulk smashed the life force out of Americans’ finances (Bill Clinton: Wow, the Obama Economy Sure Has Been Terrible…). Still, loads of liberals claim the economy has improved. So Harvard’s Business School decided to do a study to see how the Obama admin affected the economy. They gathered the numbers and… Surprise! Turns out the economy is worse.
Fundamentally weak U.S. economic performance continues and is leaving many Americans behind. The federal government has made no meaningful progress on the critical policy steps to restore U.S. competitiveness in the last decade or more.
Productivity growth, a critical indicator of competitiveness and major driver of both economic growth and wage growth, is well below long-term levels.
Notice how productivity in 2016 is the second lowest we’ve seen in the past 65 years? That’s a tad significant, wouldn’t you say?
America’s economic performance peaked in the late 1990s… Workforce participation, the proportion of Americans in the productive workforce, peaked in 1997. With fewer working-age men and women in the workforce, per-capita income for the U.S. is reduced.
See something wrong here?
If you take a look at the chart, workforce participation was growing continuously. Then it dropped faster than Amy Schumer dropped her dress to get on the cover of Vanity Fair. We’ve talked about this issue before. Less and less working-age men and women are joining the workforce. Thus less money-making… And more Bernie-voting.
This research is especially relevant during the election. Show this to anyone who’s going to vote… Democrats use financial growth as one of their main selling points. If only people would get them elected, they could help the poor people not be so poor. Except we’ve had a Democrat President since 2009, and those poor people? Still poor. Yep, even with Obamacare and welfare. (see New Report: Welfare Programs Grow. Needy Families? Poorer Than Ever…)
For most, this is hardly surprising. We knew that the economy was suffering, but this study shows us just how bad. And those numbers? Pretty crappy. This must be how Tess Holliday feels when she steps on a scale. The good news? There’s room for growth. After all, we did survive the Great Depression… And Jimmy Carter.
Need a crash course in the “fair share” economics? Here’s a time-coded video from our latest show on just that. Boom!