Barack In Time

While Obama is “in Charge,” Barry admits that jobs are “being shipped overseas” Barack In Time…

Loading Barack: What did Hu Say

The trend of American jobs shifting to low-wage countries has continued during Obama’s presidency. From 2008 to 2010, U.S. trade with China alone cost about 450,000 American jobs.

And there’s some well-meaning people out there who are understandably scared of debt and deficits, and they see what’s going on. They see jobs being shipped overseas, and they’re not sure what’s happening. And we are in charge.

-President Barack Obama, Remarks At A DNC Rally, Madison, WI, Sep 28, 2010

American jobs have been shifting to low-wage countries for years, and the trend has continued during Obama’s presidency. From 2008 to 2010, U.S. trade with China alone cost about 450,000 American jobs because of the growth of Chinese exports.

-Robert E. Scott, a pro-labor advocate at the liberal Economic Policy Institute

Obama’s critics say the most important step the president could take — but hasn’t — is to declare China a “currency manipulator,” which could ultimately allow the U.S. government to erect tariffs to protect American industries.
“I’m perplexed by this decision because it runs counter to the goal of re-shoring jobs from China.”

-Scott Paul, head of the labor-backed Alliance for American Manufacturing

China is a competitor, but they don’t have an enemy, as long as we understand that they are going to be negotiating aggressively for their advantage, and we’ve got to have a president in the White House who’s negotiating to make sure that we’re looking after American workers. That means enforcing our trade agreements; it means that if they’re manipulating their currency, that we take them to the mat on the that issue; it means that we are also not running up deficits and asking China to bail us out and finance them, because it’s pretty hard to have a tough negotiation when the Chinese are our bankers. (Cheers, applause). And that’s something that we’re going to have to change.

-Senator Barack Obama, Remarks AFL-CIO Democratic Presidential Candidates Forum at Soldier Field in Chicago, Illinois
August 7, 2007

Obama’s critics, primarily on the political left, say he has repeatedly failed in other ways to protect American jobs from being moved overseas. They point to a range of actions they say he should have taken: confronting China, reining in unfettered trade and reworking a U.S. visa program that critics say ends up sending high-tech jobs abroad.

-Obama’s record on outsourcing draws criticism from the left

President Obama has had the Most Rapid Increase In The National Debt under any U.S. president: $5.4 Trillion increase

16,015,131,024,562.54 (09/27/2012) – 10,626,877,048,913.08 01/20/2009 -Treasury Direct.gov

“As the American economy stalled and Europe’s sovereign-debt crisis deepened, China has increased its holdings this year… A senior People’s Daily editor wrote in an August 2011 editorial that “now is the time for China to use its ‘financial weapon’ to teach the U.S. a lesson if it moves forward” with additional arms sales to the island democracy, according to the Pentagon report.” – -Tony Capaccio and Daniel Kruger

China is the largest foreign holder of U.S. debt. According to the U.S. Treasury, China held 1.15 trillion dollars of Treasury Securities as of June, 2012. Japan comes in a close second with 1.11 trillion dollars.
Barack In Time…
Obama Says China’s Infrastructure is vastly Superior to U.S.

“A Corporation deciding whether to do business… you’re starting to think that Bejing looks like a pretty good option” – Senator Obama on the Campaign Trail in Chester, VA – August, 2008

Barack Now…
Obama Borrowed Money from China and Wasted it

“President Obama says He’s creating Jobs but He’s really creating debt… Over thirty cents of every dollar is borrowed— much of it from countries like China. He’s not just wasting money. He’s borrowing it and then wasting it.”

1. Median Household Income has declined by 7.3% percent from January 2009 ($54,983) to June 2012 ($50,964)

2. According to the Federal Reserve, the median net worth of families plunged by 39 percent in three years, from $126,400 in 2007 to $77,300 in 2010

3. According to the Federal Reserve, the percentage of families with no or negative wealth increased to 32.5 percent in 2010 – up from 19.2 percent in 2007.

4. According to the Pew Research Center, the middle income class has shrunk to 51 percent in 2011 from 61 percent in 1971.

5. According to the Pew Research Center, the median Net Worth of the Middle Class plummeted 39% from $152,950 in 2007 to $93,150 in 2010.

6. According to the Pew Research Center, middle income class share of U.S. income shrunk to 45 percent in 2010 from 62 percent in 1970.

7. The unemployment rate in the United States has been above 8 percent for 43 straight months from Feb 2009 to Aug 2012.

8. Long-term Unemployed Americans (jobless for 27 weeks or more) has risen by 92 percent from 2.6 million (Jan 20, 2009) to 5 million (Aug 2012)

9. The average duration of unemployment is 39.2 weeks (Aug 2012), a 96 percent increase from strong>20 weeks when Obama took office.

10. The percentage of working age Americans with a job has been below 59 percent for 36 straight months

11. According to the National Employment Law Project, 58 percent of the new jobs created have been low paying jobs.

12. According to the Center for Economic and Policy Research, only 24.6 percent of all of the jobs are “good jobs.”

13. In 2011, 53 percent of college graduates under the age of 25 were either unemployed or underemployed last year.

14. The number of jobs created by new businesses decreased by approximately 1 million from 2008 to 2010.

15. One out of every four workers earn less than $10 per hour in the ‘Recovery’ from the Great Recession.

16. Due to the Great Recession, the average pay for self-employed people has fallen 8 percent from $46724 in 2006 to $43,003 in 2010.

17. In the past decade, insurance premiums have increased three times as fast as wages.

18. Worker Health insurance contributions have risen by 17.5 percent from 3,515 family coveragein 2009 to $4,129 family coverage in 2011.

19. From 2001 to 2010, America has lost 15 manufacturing facilities every day on average. In 2010, an average of 23 manufacturing facilities every day closed every day.

20. According to Harvard Univesity’s State of the Nation’s Housing 2012 Study, 20.2 million American households spent more than half of their incomes on housing in 2010, a 12.8 percent increase from 2007 (17.9 million American households)

21. Since 2009, the cost of Household electricity skyrocketed by $300 in one year to $1419 in 2010. Electric rates have increased above the inflation rate for five consecutive years.

22. Home Values have fallen 18 percent. See Obama’s Economic Record Chart below for links…

Obamageddon: Obama’s Economic Record…
Jan 20, 2009 Sep 11, 2012 Change
Unemployed 12 million 12.8 million (Jul) +6.66%
Unemployment Rate 7.8% 8.3% (Jul) +6.4%
Federal Debt $10.6 trillion $16.048 trillion +51.4%
Debt per person $34,694 $50,967 +46.9%
Debt Burden on the Economy 75.2% 101.5% +35%
Consumer Price Index 211.1 229.5 +8.7%
Misery Index 7.8 9.7 (Jul) +24%
Americans in Poverty 43.6 million 49.1 million (2010) +12.6%
Food Stamp Recepients 32 million 46.5 million (May) +45.3%
Worker Health Insurance Costs $4,192 $8,008 (2011) +91%
College Tuition $5,976 $6,941 est. +16%
Home Values $185,000 $151,600 (Jul) -18%
Gas Prices $1.84 $3.86 +209.8%
Oil Prices $46.47 $96.42 +207.5%
U.S. Global Competiveness 2nd 7th -5 places
Romney’s Record as Governor of Massachusetts…

1. State Mandated Healthcare (RombamaCare)
2. First Governor to unconstitutionally institute Gay Marriage
3. Romney supported homosexual and transgendered education in public schools
4. Romney supported abortion with taxpayer funding
5. Fee Fee Romney increased Fees to support Big Government Spending
6. Romney Increased State spending 20.7% ($22.848 billion to $27.588 billion)
7. Government employment grew 7.2% during Romney’s tenure.
8. Romney’s net job growth of 1.4 percent was far below the growth of the national average at 5.3 percent.
9. Romney supports amnesty for illegal immigrants

Romney’s Economic Record…
Jan, 2003 Jan, 2007 Change
Unemployed 192,914 159,101 -17.5%
Unemployment Rate 5.6% 4.6% -17.9% (1)
State Debt $16 billion (Jan. 1, 2003 – A22) $18.7 billion (Oct. 1, 2006 – A24) +16.9%
Debt per person $7,551 $10,612 +40.5%

(1) Massachusetts ranked 47th in job growth during Romney’s entire term. Romney took office during an economic upswing yet, Massachusetts’ net job growth of 1.4 percent was far below the growth of the national average at 5.3 percent.

In his first year as Governor, Romney increased the Gas Tax by 400% to raise taxes by $60 million per year.

Fee Fee Romney increased fees and taxes to the taxed tune of $740.5 million.

The father of RombamaCare has increased private insurance costs by $4.3 billion, increased federal spending by $2.4 billion on Medicaid, and Romneycare is estimated to cost $2 billion more than was budgeted over 10 years.

“I Want Your Money”

Throw the Bums Out by Ray Stevens

*For your reading and laughing pleasure, you may also like these related posts…

Footnotes:

(1) My Photoshop satire was created from YouTube outtakes of President Obama and President Hu Jintao’s joint press conference in the East Room of the White House on January 19, 2011.

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Miss Moneypenny

twitpic.com/20rrlh Apparently, Obozo doesn’t realize Hawaii is the 57th state of his union. > tinyurl.com/7xkbnle

35:18-22 “When I meet with world leaders, what’s striking — whether it’s in Europe or here in Asia –”

Barack In Time is Political News and Vote Smart Political Satire by Miss Moneypenny aka Debbie Dolphin

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Miss Moneypenny reporting for the Undercover Times

About Miss Moneypenny

Contrarian Comedienne who creates Photoshop Political Satire and comedy.

Posted on October 3, 2012, in Political News, Political Satire, Vote Smart and tagged , , , , , , , . Bookmark the permalink. Leave a comment.

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