Obama Depression – Poverty Rate at Highest Since 1993
September 13th, 2011
By Andrew Zarowny
More bad economic news for the Obama administration as the United States Census Bureau reports that the poverty rate is now at 15.1%, the highest since 1993. The actual number of American people in poverty is at a 52-year high.
On top of that, the median household income has dropped to the lowest level since 1996. The unemployment rate is chronically high with long term average now at 40 weeks, something not seen since the Great Depression. Meanwhile, all we get from Barack Obama is another watered down stimulus spending program disguised as a jobs bill. All of its provisions are short-termed, usually ending on January 1, 2013, when, conveniently, taxes are raised to pay for the darn thing.
More than 14 million Americans are without a job. Around 35 million either have no job or are working part-time jobs to make ends meet. The Census Bureau now reports that around 46 million live in poverty, about one in six. Despite the glories of ObamaCare, the number of uninsured Americans has increased to 49.9 million, up nearly a million just since 2009. That would make for 16.1% of Americans being without any health insurance.
To call the Obama administration a failure is too kind at this point. Now, it is a total disaster! A man-made disaster, caused by Barack Obama and his Democrat allies. We are now long past the textbook definitions of recession. The number of American people at or below the poverty rate is now at its highest since 1993. The median household income is at its lowest since 1996. If we were a parliamentary form of government, Obama would have already been sent packing from a vote of no confidence. The new report by the United States Census Bureau, coupled with the never-ending sags of chronically high unemployment rates, spells the word Depression. The Obama Depression lies on the shoulder of Barack Obama, as his policies have not only failed, but have made things far worse.
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