Obama Can’t Escape the Reality of This Economy, All-Time High Record Number of Elderly Working Past Retirement Age


By

FrugalCafe

Vapid-rabid  hyena alert

Democrats are no longer laughing… but Obama is still clinging onto his presidency with distractions and smears since his record is getting worse

 How long ago did Democrats crow that we had turned the corner, that the recession was over, that America was back on track? I forget…

So, why is the American economy still at the precipice of disaster, why are so many Americans still unemployed or underemployed, so many families in despair? Last week, nearly a quarter of a million people lost their unemployment benefits. Elderly people are having to work much longer past their retirement age to survive — another record for Obama. Young voters’ diminishing support of POTUS is alarming many in the Democrat party.

And what, besides smear-tactic speeches and lame campaign distractions and getting buddy-buddy with millionaire movie stars, is Pres. Obama doing about it?

Republican National Committee chairman Reince Priebus discussed Obama’scampaign distractions with Candy Crowley on “State of the Union.”

Since Obama can’t stand on his record, it’s all he’s got.

Here’s another economic reality the president would prefer to ignore or to blame on Bush, or on the tea party movement, or on Republicans, or on ATMs, or on Japanese tsunamis, or whatever else his spinmeisters can dream up.

This week, New York Times reported this new record — more people are having to work past age 65 to survive:

The retirement dream seems further away for a lot of baby boomers, and they appear to be responding to that by holding on to their jobs if they can. But that may have worsened the employment prospects for younger workers.

Labor Department figures indicate that the percentage of workers over the traditional retirement age of 65 is at a record high. But, the figures show, job totals fell sharply for men under 55 during the recession and have only started to recover, while the proportion of women ages 25 to 54 with jobs also slid and is close to the lowest level of the last two decades.

“The fact of the matter is that this aging-but-not-yet-aged segment of the baby boomer class can’t afford to retire,” said David A. Rosenberg, the chief economist of Gluskin Sheff, a Canadian firm, noting that overall household net worth was 15 percent lower than at the prerecession peak. “Dreams of the 5,000-square-foot McMansion being a viable retirement asset have morphed into nightmares of a deflationary ball and chain.”

The accompanying charts show the percentage of various age groups with jobs since the end of 2006, when the overall percentage of people with jobs hit its cyclical peak. Each of the charts has a different range, but the same spread between the top and the bottom, so that a move of a given size represents the same gain or loss in percentage points.

For the first time since the government began keeping track of the numbers in 1981 — and probably the first time ever — one in nine American men over the age of 75 was working in April. About one in 20 women over that age have jobs.

This video shows that Shultz is in need of a CT scan of her brain.  Had she swapped the name Obama for Romney the interview would could have made sense.  ( Oh yea baby still blaming Bush who did not have failed economic policies.)

By any stretch of the imagination, like her hyphenated name is a lying-douche bag, and that is a serious insult to douche bags where ever they still may be.

These frightening labor participation charts were released last month. These and other economic graphs below expose the lies of the DNC Chairwoman — what say you now, Debs?

Chart of labor force participation rate, through April 2012 (click image to enlarge)

Chart showing people no longer in the labor force, through April 2012 (click image to enlarge)

Federal Budget Surplus/Deficit: Pres. Obama tripled the deficit his first year in office with the failed Obama-Pelosi stimulus plan. In Obama’s second year the deficit topped a trillion dollars again. It was unprecedented in all of American history.

Comparison of US unemployment rates in 2011, broken down by president: Obama is now at 9.375 percent

More Americans are on food stamps than ever before in US history:

Supplemental Nutrition Assistance Program, Food Stamp Participation, February 2011

Food Stamp Presidency, 2011 | Chart from SNAP Summary – http//www.fns.usda.gov/pd/SNAPsummary.htm

Remember: the Democrat party proudly owns this economy, as DNC chair Debbie Wasserman-Schultz declared some months back, and likely now wishes she hadn’t. DWS also conveniently forgets (or hopes America has forgotten) that it was the Democrats who forced banks to lend the risky mortgages that destroyed the housing market.

Pres. George W. Bush tried to reform Fannie Mae and Freddie Mac years ago, but Obama and other Senate Democrats stopped him. The 2008 meltdown in the mortgage industry was a direct result of giving mortgages to people who could not pay them back, a practice that was zealously protected by Democrats in Congress.

Also, during his activist pre-Senate days, Community Organizer Obama sued banks to ease their lending practices.

This interview aired 11 months ago — so little has changed for the better since then.

More dodging, lies, and cluelessness from Wasserman Schultz, aka Nancy Pelosi Jr., this interview aired in December:

According to the DNC Chairwoman, “Unemployment is nearing where it was when President Obama took office” as she reacts to questions from FOX News Gretchen Carlson regarding Mitt Romney’s One-On-One interview.

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3 responses to “Obama Can’t Escape the Reality of This Economy, All-Time High Record Number of Elderly Working Past Retirement Age

  1. It seems not one group of people can escape the lies and spending of Obama. We will work until we die. Give to social security and never see that money which is the gov. fault again. So many things need fixing – having elderly working at 70 is extreme but necessary to live in the Obama era of everything costing double of what it did 4 years ago. The only thing to do is go line by line on every bill and what ever else. First the government needs to downsized asap and then all congressment and senators etc need a steep pay cut. Only then can we begin to fix the problems.

  2. Love this report JC, pretty thorough! And Romulus Rohm Romney refuses to hit Obama on this…could it be that his own record shadows Obama?

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