Bill Clinton says the economic depression is in facto Obama's fault

[Nick M]

Of course, Obama views 40% unemployment, jihadists running wild, rich getting richer and poor getting poorer as good things. So Obama owns this economy. Something he has done since 2009.

It's Obama's economy.

The country is doing better than everybody else in the world, but 80% of the country has not had a pay raise since the crash,” Clinton told reporters in East Hartford, Connecticut.

“Therefore there is great fear that we can’t return to broad-based prosperity and that has lit a lot of the fires that have helped Mr. Trump on the right and Sen. Sanders on the left,” Clinton said before his minder jumped in to say he had to go.

“It is totally predictable,” he said.​

The irony is Bernie thinks Obama hasn't gone far enough.

 

[Bradley D]

Have they quit blaming Pres. Bush.

 

[rexlunae]

Have they quit blaming Pres. Bush.

The Great Recession isn't going to stop being largely his fault. Obama's record has been fairly good on the economy. What hasn't happened is that he hasn't held the bankers to account for their crimes that lead to the problem, we haven't put in place regulations to prevent it from happening again, and we've essentially endorsed a future collapse like the one in 2007-2008. That's on Obama, at least in part.

 

[rexlunae]

Of course, Obama views 40% unemployment,

Yeah, that's not happening.

 

[Nick M]

Yeah, that's not happening.

What isn't happening?

93 million Americans are not in the work force. The lowest percentage of people working since Jimmy Carter. And of those working, many do not get 40 hours, and have had wages slashed.

Don't you love low hanging fruit the left puts up?

 

[rexlunae]

93 million Americans are not in the work force.

1. That's not 40% of the US population.
2. And it doesn't mean they're unemployed. Some of them are retired. Some of them are children. Some of them are disabled. Some of them just don't want a job.

I recognize that unemployment (meaning people who are looking for work and who do not have a job) isn't the whole picture, but just assuming that workforce participation is a better metric is silly.

The lowest percentage of people working since Jimmy Carter.

By coincidence, also the highest rate of retirees.

And of those working, many do not get 40 hours, and have had wages slashed.

I agree that wage stagnation is a problem.

Don't you love low hanging fruit the left puts up?

Not as low as you think, I'm afraid.

 

[Nick M]

The current labor participation rate of working body people is right about 60%. Keep trying you demon possessed perverted pig. And you are right about one thing, a chunk of them have no intention of working, but intend to be welfare.

 

[Nick M]

Getting back to Bubba and his trying to not blame Obama while blaming Obama, since 2009 4,000,000 jobs have been created (Taco Bell) and 14.9,000,000 have been put out of work. Obama came into office reaping what Jimmy Carter and Bill Clinton sowed. And I was wrong. It isn't 93 million, it was up to 94 million by fall of 2015.

And for the record, under 17 and retirees are not counted for the statistics. Nor military.

 

[ClimateSanity]

1. That's not 40% of the US population.
2. And it doesn't mean they're unemployed. Some of them are retired. Some of them are children. Some of them are disabled. Some of them just don't want a job.

I recognize that unemployment (meaning people who are looking for work and who do not have a job) isn't the whole picture, but just assuming that workforce participation is a better metric is silly.



By coincidence, also the highest rate of retirees.



I agree that wage stagnation is a problem.



Not as low as you think, I'm afraid.

A study updated last week by economist Emmanuel Saez documented the enormous growth of social inequality that has taken place since 2009, the official start of the Obama “recovery.” According to the Saez report, the top 1 percent has received 95 percent of all income gains since 2009, while the vast majority of Americans have seen their incomes fall. For the first time in nearly 100 years, the percentage of income taken by the top 10 percent of Americans has topped 50 percent.
The Census report and Forbes list of multi-billionaires appeared the same week that Obama gave a White House speech touting the record of his administration in restoring the “middle class” in the aftermath of the Wall Street crash. (See: “On fifth anniversary of Wall Street crash, Obama tries the Big Lie technique”). They highlight the absurdity of Obama’s pretense of fighting for the interests of ordinary Americans.
One statistic contained in the Census report points to the systematic lowering of working class living standards that is underway. The number of men with full-time year-round jobs increased by only 1 million in 2012, half that predicted by economists and half that recorded in 2011. This reflects the enormous growth of part-time jobs at the expense of full-time work. The vast majority of new jobs that have been created to replace those lost during the official recession of 2007-2009 have been low-wage and part-time jobs in service industries.
“The continued high rate of poverty is no surprise, given ongoing high unemployment, stagnant wages and government spending cuts,” Sheldon Danziger, the president of the Russell Sage Foundation, told the New York Times. “Poverty is higher today than it was in 2000, and household incomes are lower. The ‘lost decade’ is likely to turn into ‘two lost decades.’”

 

[ClimateSanity]

A study updated last week by economist Emmanuel Saez documented the enormous growth of social inequality that has taken place since 2009, the official start of the Obama “recovery.” According to the Saez report, the top 1 percent has received 95 percent of all income gains since 2009, while the vast majority of Americans have seen their incomes fall. For the first time in nearly 100 years, the percentage of income taken by the top 10 percent of Americans has topped 50 percent.
The Census report and Forbes list of multi-billionaires appeared the same week that Obama gave a White House speech touting the record of his administration in restoring the “middle class” in the aftermath of the Wall Street crash. (See: “On fifth anniversary of Wall Street crash, Obama tries the Big Lie technique”). They highlight the absurdity of Obama’s pretense of fighting for the interests of ordinary Americans.
One statistic contained in the Census report points to the systematic lowering of working class living standards that is underway. The number of men with full-time year-round jobs increased by only 1 million in 2012, half that predicted by economists and half that recorded in 2011. This reflects the enormous growth of part-time jobs at the expense of full-time work. The vast majority of new jobs that have been created to replace those lost during the official recession of 2007-2009 have been low-wage and part-time jobs in service industries.
“The continued high rate of poverty is no surprise, given ongoing high unemployment, stagnant wages and government spending cuts,” Sheldon Danziger, the president of the Russell Sage Foundation, told the New York Times. “Poverty is higher today than it was in 2000, and household incomes are lower. The ‘lost decade’ is likely to turn into ‘two lost decades.’”

From the world socialist website
https://www.wsws.org/en/articles/2013/09/18/cens-s18.html?view=article_mobile

By Thomas Gaist