August 2016 – WASHINGTON – If there is one thing most Americans should agree on it’s that you can’t trust a presidential candidate running for office in an election year. You have to study their entire record. Just how much they lie is nothing short of alarming. They will simply tell you anything you want to hear just to get elected. Keeping a promise, as a pledge of integrity to their constituent electorate, means very little if anything to most politicians seeking office. We decided to gauge this election by grading how well President Obama kept his word to the American people during the last elections. Here, see for yourself:
Federal Deficit Spending – On February 23, 2009 Barack Obama promises to cut the deficit and curb federal spending before the end of his second term as president. The U.S. federal debt doubled under Obama and it now stands at a staggering $19 trillion dollars. Future American generations will undoubtedly inherit Obama’s legacy of horrific financial mismanagement. Grade F
Middle Class Extinction: The middle class that President Obama identified in his State of the Union speech last week as the foundation of the American economy has been shrinking for almost half a century. In the late 1960s, more than half of the households in the United States were squarely in the middle, earning, in today’s dollars, $35,000 to $100,000 a year. Few people noticed or cared as the size of that group began to fall, because the shift was primarily caused by more Americans climbing the economic ladder into upper-income brackets.
But since 2000, the middle-class share of households has continued to narrow, the main reason being that more people have fallen to the bottom. At the same time, fewer of those in this group fit the traditional image of a married couple with children at home, a gap increasingly filled by the elderly. –NY Times Grade F
Homeownership rate drops to 63.4%, lowest since 1967: The U.S. homeownership rate fell to 63.4 percent in the second quarter of 2015, according to the U.S. Census. That is down from 63.7 percent in the first quarter and from 64.7 percent in the same quarter of 2014. It marks the lowest homeownership rate since 1967. Homeownership peaked at 69.2 percent at the end of 2004, when the housing market was in the midst of an epic boom. The 50-year average is 65.3 percent.
“It is now just five-tenths from the record low seen in 1965 in data going back also to 1965,” noted Peter Boockvar, an analyst with The Lindsey Group. “All the governmental attempts (certainly aided and abetted by many players in the private sector) at boosting homeownership has gotten us to this point in time with all the havoc it wreaked over the past 10 years. It’s just another governmental lesson never learned, of don’t mess with the free market and human nature.” –CNBC Grade F