Obama’s legacy 

Where Did The $10 Trillion Go?

“I did not run for office to be helping out a bunch of fat cat bankers on Wall Street”
– President Barack Obama, 2009

“It’s not what you are, but what they think you are”
–Joseph P. Kennedy

During Barack Obama’s presidency the U.S. debt increased by nearly 100% – over $9 trillion! So where has all the money gone?

While Barack Obama positioned himself as the champion of the working class, the fact is that during his presidency, the numbers of people living below the poverty line and receiving food stamps increased, the average worker’s wages after inflation only increased by about 0.5% per year, and the national debt exploded.

But the rich did extremely well – stock prices for America’s biggest companies increased by about 13% per year, and CEO compensation rose sharply.

 

 

Not only did Obama help the rich get richer, he did his part to encourage wildly outrageous spending in his taxpayer-funded lifestyle as president.

SOURCES:
Barack Obama “fat cat bankers” quote:
http://thecaucus.blogs.nytimes.com/2009/12/14/obama-decries-fat-cat-bankers/

Americans In Poverty: “Latest year” 2009, 2016:
https://www.census.gov/cps/data/cpstablecreator.html

Food Stamps (SNAP): 2009, 2016 (last month surveyed, 11/2016) data: https://www.fns.usda.gov/sites/default/files/pd/SNAPZip69throughCurrent.zip

Average Hourly Wage, Jan. 2009, Jan. 2017 (preliminary)
https://data.bls.gov/timeseries/CES0500000003?data_tool=XGtable

Inflation, 2009-2017
https://www.bls.gov/data/inflation_calculator.htm

U.S Federal Debt, 1/2009 and 1/2017:
https://www.treasurydirect.gov/govt/reports/pd/pd_debtposactrpt_0901.pdf
https://www.treasurydirect.gov/govt/reports/pd/pd_debtposactrpt_0117.pdf

CEO Pay/Average Worker Pay, 2009 and 2015
http://www.epi.org/publication/ceo-and-worker-pay-in-2015/

S&P 500 History
http://fedprimerate.com/s-and-p-500-history.htm

 

 

 

 

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