November 5th, 2008
Quote:
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Originally Posted by CNN
Obama rides economy to White House
3 out of 5 voters say it's their top concern, as the country faces the worst crisis since the Great Depression.
Bounce from economy
The faltering economy is thought to have given a boost to the Democratic contender Obama.
Just a few weeks ago the race was nearly even. But as the economic outlook worsened, the polls began shifting in Obama's favor.
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So the economy tanked right before the election handing the presidency to Obama. He promoted himself as the guy to fix the economy.
Now almost 4 years later here's where we are:
* Economic growth is 1.9%
* Worker productivity?the amount of goods andservices produced in an hour of work in the nonfarm business economy is down .9%
* Unemployment remains at 8.2% (when those who have stopped looking for work are factored in it's more like 15%)
* African American unemployment remains well above average: 14.4%
* Household income continues to drop.
* Income inequality is on the rise
* Poverty continues to rise: at 15.1% it's the highest since 1993
* Employer sponsored benefits dissapear
* Total family wealth is down $10.9 trillion
* 1 in 8 home mortgages are still delinquent or in foreclosure
So how has Obama done? And more importantly,
have we done anything to prevent another financial meltdown like in 2008?