Certain groups have suffered more from the "Obama Recovery" than others, starting with younger adults. A recent article found that currently, America is experiencing the highest-ever level of young adults living with older family members:
On Wednesday, the White House released a curious chart, attempting to show that unemployment “is dropping faster than projected.” The chart compared the actual unemployment rate with forecasts made by the Administration in 2010, 2011, 2012, 2013, and 2014:
“Four years ago, President Obama began to pull our country out of the worst economic crisis since the Great Depression, while laying the foundation for an economy built to last. We’ve come a long way – but there’s more to do. Take a look at the goals the President has set to move this country forward.…CREATE 1 MILLION NEW MANUFACTURING JOBS BY 2016.”
Now (October 2014)“Our economy is making incredible progress.” For example, 5.9 percent unemployment is “a number many economists didn’t think we’d see for years.” Sources: White House
Democrat Stimulus Architect Admits “the Economy’s Problems,” not “Economic Greatness” Then: The January 2009 Romer-Bernstein Report predicts 5 ...
Six Out of Ten Say the American Dream Is Out of Reach. After five years of the Obama "recovery," 59 percent believe the American Dream is out of reach and 63 percent believe most children won't be better off than their parents.
Minority Families Have Suffered the Most during the Obama "Recovery." During the heart of the Obama "recovery," the median income of minority families dropped by 9 percent, and their median net worth fell by 17 percent. In contrast, incomes and net worth for white families were essentially stable.
Over Half of Americans Can't Afford Their House. In order to cover their rent or mortgage over the last three years, 52 percent of Americans have had to make at least one major sacrifice, such as getting a second job, deferring saving for retirement, cutting back on health care, or running up credit card debt.
Today, the Census Bureau released information on poverty in 2013, which showed how the overall poverty rate fell from 15 percent in 2012 to 14.5 percent in 2013, as the number of poor individuals fell from 46.5 million in 2012 to 45.3 million in 2013. But buried within this short-run ...
Disability Beneficiaries Outnumber Jobs in Manufacturing. Due to the poor economy and other factors, there are now more Americans collecting disability benefits than there are workers doing production work in manufacturing.