October 4, 2016

Kaine Absurdly Defends The Poor Obama Economy

Senator Tim Kaine’s tone deaf comments about the supposedly successful Obama economy are not going to help his running mate, Hillary Clinton. Kaine praised President Obama’s economic record, yet the facts show that the national debt is out of control, GDP growth is tepid, and according to analysis by the Wall Street Journal this is the weakest recovery of the post-World War II era. See below for the real details of the Obama economy:

The Los Angeles Times’ Don Lee In December 2015: “The Nation’s Middle Class … Has Shrunk To The Point Where It No Longer Constitutes The Majority Of The Adult Population …” “The nation’s middle class, long a pillar of the U.S. economy and foundation of the American dream, has shrunk to the point where it no longer constitutes the majority of the adult population, according to a new major study. The Pew Research Center report released Wednesdayput in sharp relief the nation’s increasing income divide, which is certain to be a central issue in the 2016 presidential race. It also highlights how various economic and demographic forces have eroded long-held ideals about maintaining a strong, majority middle class.” (Don Lee, “Middle-Class Families, Pillar Of The American Dream, Are No Longer In The Majority, Study Finds,” Los Angeles Times, 12/9/15)

The National Debt As Of September 30, 2016 Was $ 19,573,444,713,936.79. (Almost $19.6 Trillion) (U.S. Treasury Department’s Debt To The Penny, Accessed 8/1/16)

The Wall Street Journal Headline: “Seven Years Later, Recovery Remains The Weakest Of The Post-World War II Era” (Eric Morath, “Seven Years Later, Recovery Remains The Weakest Of The Post-World War II Era,” The Wall Street Journal, 7/29/16)

The Wall Street Journal’s Eric Morath: “Even Seven Years After The Recession Ended, The Current Stretch Of Economic Gains Has Yielded Less Growth Than Much Shorter Business Cycles.” (Eric Morath, “Seven Years Later, Recovery Remains The Weakest Of The Post-World War II Era,” The Wall Street Journal, 7/29/16)

· Morath: “In Terms Of Average Annual Growth, The Pace Of This Expansion Has Been By Far The Weakest Of Any Since 1949.” (Eric Morath, “Seven Years Later, Recovery Remains The Weakest Of The Post-World War II Era,” The Wall Street Journal, 7/29/16)

The Wall Street Journal’s Ben Leubsdorf In August 2015: “Overall Economic Growth Has Been Tepid Since Late Last Year …” “Overall economic growth has been tepid since late last year, with GDP advancing at a modest pace of 0.9% in the fourth quarter of 2015 and 0.8% in the first quarter of 2016. But U.S. growth has been poised to accelerate over the summer; forecasting firm Macroeconomic Advisers on Friday predicted GDP would expand at a 3.2% rate in the third quarter, the best performance in two years.” (Ben Leubsdorf, “U.S. Corporate Profits Climb As GDP Ticks Down To 1.1%,” The Wall Street Journal, 8/26/15)