So, are things really better now than they were in 2007 when the Republicans lost the House and Senate? According to NYT Columnist Paul Krugman they are. The ” Summer of Recovery” has turned into, according to crazy Uncle Biden the “Buck up or Buck You!” Fall. Ahhhhh yes, the Hope and Change is over flowing. The only thing tingling on this guys leg is the Natty Light I just knocked over!
Lets go to the stat sheet to see the score:
- In January 2007 before the Democrats took over Congress, unemployment was 4.6 percent; now it’s 9.6 percent.
- In January 2007 there were 7.1 million unemployed people in America; now there are 14.9 million.
- In January 2007 the median home price was $210,600; today it’s $179,300.
- In January 2007 the Dow Jones Industrial Average was at 12,500; today it’s at 10,840.
- In January 2007 the gross federal debt was $9 trillion; today it’s $13.5 trillion.
- The poverty rate in 2006 was 12.3 percent; now it’s 14.3 percent
- In the final budget created by a GOP-controlled Congress, the deficit was $160 billion; now it’s $1.6 trillion.
Add it all up and: there were half as many people out of work then; houses were worth 17 percent more; stocks were 16 percent higher; the federal debt was 33 percent lower; poverty was 14 percent lower, and; the deficit was 90 percent lower!
The Obama Administration is so bummed out they couldn’t roll out their new mascot for the “Summer of Recovery” but he was recently spotted on the Metro by McMartin looking, well… Sad, you be the judge.