The Great Financial Meltdown of '08

[TracyCoxx]

November 5th, 2008

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.

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?