Under President Obama, America has endured its worst economic recovery in the past six decades. In the past five years, while the employment-age population has increased by nearly 12 million people, there are now three million fewer Americans working (down to 143.3 million last December from 146.3 million in January 2008).
Over the past five years, real median household income has declined nearly 9 percent, from $54,489 at the end of 2007 to $50,020 at the beginning of 2012. It’s been 62 months since the recession began, and there has been almost no recovery. Typically, deep recessions are followed by robust recoveries — but not with Mr. Obama as president.
Obamacare is having a massive negative impact on hiring. More than 40 percent of small-business owners say it has caused them to freeze hiring, according to a June Gallup poll. Family health care costs, which Mr. Obama promised would decline by $2,500 per year, have instead risen by $3,000. Mr. Obama is working around Congress to impose new regulations on coal and emissions that could raise the cost of our energy bills by as much as 60 percent. He has imposed $70 billion in new regulations on American businesses.
Mr. Obama and his anti-growth Democrats are destroying America one business and one job at a time and harassing the White House’s political foes with IRS audits. Mr. Obama apparently thinks working people are his enemies.