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‘Real News’: What Can Be Said About the Economy During Obama’s First Term?

Jan. 21, 2013 9:08pm Christopher Santarelli

With the Obama administration tenure at the official halfway point today with the president’s second inauguration, the ‘Real News’ team examined his performance through four years issue by issue; beginning with the economy.

As we’ve been reminded many times, President Obama took office during a time of great economic uncertainty. During his first year in office Obama pushed for the American Recovery and Reinvestment–A.K.A. “Stimulus”–Act of 2009 and authorized the $80 billion government bailout of Chrysler and General Motors.

In 2010, he extended the Bush tax cuts and signed into law the Dodd-Frank Wall Street Reform and Consumer Protection Act, and ObamaCare–officially titled the Patient Protection and Affordable Care Act. Finally before concentrating 2012 on the campaign, 2011 saw the debt ceiling crisis culminate with the Budget Control Act of 2011 that gave birth to the failed debt super committee and recent Fiscal Cliff.

Over four years the unemployment rate has never gone below what it was when the president took office, median household income has decreased by $2,000 per family, the national debt increased by $5 trillion, and average gasoline prices have nearly doubled.

On ‘Real News’ Monday the panel speculated how this era will be remembered, and if Obama’s tenure has potential to serve as an indictment for Keynesian economics.

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Comments (14)

Detroit paperboy
Posted on January 22, 2013 at 11:29am
Welfare , foodstamps and unemployment………….that’s how I sum it up.

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raderby
Posted on January 22, 2013 at 3:00am
The equivalists on “Real News” always do the same thing. They “intellectualize” their way through must be a scathing report about the clown in the suit playing with other people’s money.

king zero and his marxist friends has been a nightmare for the USA.

This ought to be bellowed from the rooftops, and the only people that could or might do this are these guys on Real News – and they seem more worried to be “balanced” in their approach, and nibble at this around the edges.

Like they might lose their day gigs at the liberal sewer pipes they appear within.

Sorry – done and done with Real News. Don’t need more media liars, bending to the will of the schmuck in the narrow shouldered suits, aka obaalo. aka king zero.

I for one am pissed and will not bend to that creep’s will – they will, no doubt, be dragging me away kicking and yelling, or dead. The real news guys? They will still be living in NYC, making their bank, and life will be hunky dory for them.

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possom
Posted on January 21, 2013 at 10:59pm
Thank god I stocked up on everything!

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TH777
Posted on January 21, 2013 at 10:10pm
Well I guess this is why he is still able to do what he does to this Country. No one has an answer. How sad!

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- AxelPhantom
  Posted on January 21, 2013 at 10:24pm
  The problem is we need a quick answer and there is no quick solution.
  
  We didn’t get here overnight and the only way we could possibly get back quickly is the unthinkable.
  
  People are uneducated, a lot of people even on this site have only read a little bit here and there of the founder’s writings. To understand you have to read all of the philosophers,even the Communist ones. If you were never taught the importance of it in school, why pick up such literature?
  
  As long as you have food in your pantry, some money in the bank, a roof over your head why pay attention. Suffering breeds wisdom. I hate to say it but that may be what it takes for the Country as a whole to “get it”.
  
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- TH777
  Posted on January 21, 2013 at 10:47pm
  But tell me how we go about getting this unconstitutional president out of the White House. How? There has to be a way! I’m not the most political savvy person around so I don’t know the answer. I would think someone out there would know how to do it. What steps need to be taken. I can’t believe we can sit by and watch this all happen before our eyes. How can we let this guy destroy this Country? What can we do? Is there nothing legal we can do to get him out of there?
  
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- AxelPhantom
  Posted on January 21, 2013 at 11:02pm
  Sorry, I am not a lawyer. But I do know that the power still (for now) rests with the people/states and therein lies the rub. People don’t know what Communism (socialism) is all about. Tell people and they think you are a kook but when you read their writings, what is happening to us becomes unmistakable.
  
  The key is the people. Legally, sadly, I don’t think there is a darned thing we can do. Texas I think is working on some things that will put some of Obama’s edicts up against State Laws which will probably get us into court….but we are only playing defense and when the score is 1-0 defense won’t win the game.
  
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heavyduty
Posted on January 21, 2013 at 9:32pm
One word comes to mind! FAILURE!!!

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- TH777
  Posted on January 21, 2013 at 9:39pm
  @Heavyduty: Unfortunately he hasn’t failed. He is accomplishing exactly what he wants done to this Country. For the life of me I don’t know how he is able to get away with it. Everyone speaks of all the things he is doing that are unconstitutional but yet he is still able to get away with it. What is up with this??? What steps need to be taken to stop him???
  
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- AxelPhantom
  Posted on January 21, 2013 at 10:08pm
  Gotta go with TH on this
  I believe Obama does not see himself as bourgeoisie because he is not “white”. He thinks that he is a proletarian and he is working to achieve a Dictatorship of the Proletariat like what was outlined in Toward Soviet America by William Z. Foster.
  
  Foster outlines how by making American workers suffer, they will accept socialism, eventually revolting and demanding “change”. He goes so far as to suggest that they must starve.
  Verbatim excerpts from the book…
  
  For the farmers the Party demands immediate emergency cash relief from the government.
  
  The Party fights against the monstrous tax burden being heaped from year to year upon the toiling masses and demands that this be shifted upon the rich.
  
  It opposes the sales tax and fights for higher inheritance taxes, surtaxes, etc.
  
  It gives active support to the masses in Latin-America in their fight against American imperialism.
  
  It fights against the finger-printing, deportation and other methods of discrimination used towards the foreign-born workers.
  
  The Party makes special demands for women workers, including equal pay with men……..
  
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TH777
Posted on January 21, 2013 at 9:30pm
I’m so sick of this c r a p!!!

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Cavallo
Posted on January 21, 2013 at 9:28pm
What is shocking is that they didn’t even follow their own failed economic theories. They used the stimulus like a banana republic or mafia family. They funneled funds to their cronies and friends, bailed out their political connections and left the rest of the economy to rot. Hundreds of billions of dollars wasted. Government Motors is still a failing financial model and given time will bankrupt itself again, they only bought it some time and enriched their Union lackeys. Obamacare will corrupt and destroy the health care industry, and is already doing so in several key areas. Their major victories are raping the public treasury and expanding the role of their fascist state.

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Snowleopard {gallery of cat folks}
Posted on January 21, 2013 at 9:15pm
Hey consider this much, under Obama even Carter looks competent, Nixon looks honest and Benedict Arnold saintly.

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neverending
Posted on January 21, 2013 at 9:12pm
Sucks – plain and simple!

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