People forget recent History so easily
AAA credit rating Dropped because Congressional Republicans refused to raise the debt ceiling, shaking confidence of investors. (source)
The unemployment rate is 6.1%, which is 1.7% lower than when Obama became President, which is 2.2% less than what this meme claims. (source)
There is a LOT to explain about how many and what factors contribute to the price of Gasoline. The short of it is that $1.81 low gas price Obama inherited was an outlier; it’s not representative of the true average rise in price over the past decade.
In fact, it looks like the rate of price increase was greater under Bush than Obama.
About the debt; If you will observe…
The dept started it’s rise when Reagan cut taxes and created the VA without reigning in spending to cover the cost under the assumption the tax cuts would increase tax revenue through increased private investment, but that ended up tripling the deficit and raising the debt.
The debt continued through Bush 1 until Bill Clinton balanced the budgets and we did great until…Bush 2. Under him, the 2 wars were kept ”off the books.” That is why you don’t see much of an impact of the cost of war until Obama came into office and such expenses were made public. (source)
Of course there were also the Bush Tax cuts that , like in the Reagan Era, were not offset by cuts in the budget.
There was also the cost of Medicare Prescription Drug Benefit that they did not pay for in budget cuts.
There was also the cost of the Obama Stimulus package, and it’s fair to say both parties contributed to the debt through our Congress.
Obama proposed his budget recommendations but Congress is where the budgets are crafted and because of the power of filibuster, Budgets have been delayed over and over by the Republicans.
This meme is factually correct:
The Dow – numbers slightly off from different reporting dates, but still basically correct.
http://www.fedprimerate.com/dow-jones-industrial-average-history-djia.htm
Unemployment
http://data.bls.gov/pdq/SurveyOutputServlet
GDP Growth
http://www.multpl.com/us-gdp-growth-rate/table/by-year
Defecit 2009
http://www.cbo.gov/publication/24992
Deficit 2014
http://www.cbo.gov/publication/45010
Consumer confidence 2009
http://money.cnn.com/2009/01/27/news/economy/consumer_confidence/?postversion=2009012711
Consumer Confidence 2014- actually higher than the meme. 85.2 in confidence.
https://www.conference-board.org/data/consumerconfidence.cfm
Interestingly enough, Contrary to claims that the economy would collapse and new claims that we would have done better and faster under Romney, our Country has recovered faster than MOST industrialized nations:
http://www.politifact.com/truth-o-meter/statements/2014/jul/23/barack-obama/obama-us-has-recovered-recession-better-almost-eve/
And that was with Republican opposition that has had the power of filibuster that has prevented Obama from enacting all of his ideas. Even when the ACA was drafted, the public option HAD to be cut in order to win Republican votes.
For any explanation of why wage growth is slow is because through both Dem and Rep leadership, the US has followed conservative logic with ” trickle down theory.
Lets not forget that Reagan cut taxes which ended up tripling the deficit, then we deregulated such as getting rid of Glass Steagle which held the bankers at bay, then we deregulated the FDA and the EPA under Clinton, then Bush 2 cut taxes, Then the Obama stimulus package was 1/3 tax cuts, then Obama extended the Bush tax cuts.
The top 5% have seen their incomes double and top .1% quadruple while median incomes have been stagnant and lower incomes losing. Following conservative ideals is what has made this recovery so slow.
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