Unemployment hit 5 percent in October and the economy added 270,000 jobs in an unexpectedly strong showing that is good news for the White House. But wages are stagnant, more than 95 million Americans are not working, and the federal debt is soaring.
President Barack Obama recently boasted he and his Democrat allies have “pulled the United States and the world out of an economic crisis” and “stabilized the financial system” since he took office, when unemployment was in double digits and the economy was tanking.
That may be true, but these nine charts inspired by a recent Zero Hedge post show some other key happenings in the economy since Obama took office. The charts are produced by the Federal Reserve Bank of St. Louis, and the vertical bars represent times of recession.
1. Federal debt is soaring.
2. The Feds are printing an unprecedented amount of money.
3. Wages are stagnant.
4. Nearly 40 percent of Americans are not working.
5. The business workforce’s share of income is declining.
6. Spending on food stamps is soaring.
7. Student debt is soaring.
8. Home-ownership is still falling.
9. Real median family income is down.
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