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FBN’s Lou Dobbs on the state of the U.S. economy and markets after the President’s first term in office.
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The president begins his second term us being sworn in and private us our money Sunday.
But with the troubling development consumer confidence now the lowest level in more than a year.
Americans are worried and it may be because of a lack of real progress on the economy and on so many fronts.
When the president took office.
The unemployment rate was seven point 8% want to show you.
-- some of the rather static there conditions that we face in the economy seven point 8% unemployment.
Back in 2009.
Now it's.
Seven point 8%.
In January 2009 the poverty rate this country was 15%.
15% today you guessed -- 15%.
32 million people -- -- food stamps back in 200932.
Million.
The day an astonishing 4747.
And a half.
Million.
People 47 I have met ice I still am stunned -- that number.
Back in 2009 the median household income in this country was 51000.
190.
Dollars a year.
Today it's drop to 50000.
54 dollars.
A year.
In January 2000 -- we -- a national debt.
And again it's in -- we're talking about four years ago ten point six trillion dollars.
Which was obscene.
Absolutely.
Obscene.
Today.
It is sixteen.
Point four.
Trillion.
Dollars.
Sixteen point four trillion.
It has worsened by almost 60%.
That's not all bad news for us -- for this president who is entering his second term.
Over the past four years in the face of Obama's anti business attitudes and policies.
The market has responded with a -- of excitement.
The Dow Jones industrials.
Has gone from 7007949.
-- for this.
To thirteen 1649.
Pretty good by any standard.
5700 points -- S&P this is a guy who doesn't like Wall Street -- does this.
The S&P has gone from 805.
In your number is -- while the 1418514100.
And eighteen excused if -- 1485.
And that's a pretty substantial gain as well 680 points during pretty -- -- the NASDAQ has gone from 1440.
Important 1540.
The 313431.
34.
A -- 17100 points but despite that improvement in the market.
A new poll from the hill finds 60%.
Of us.
Don't expect any significant economic progress.
Over the next four years -- this president's.
Only 38% of us say that we expect to be better off.
Now that outlook.
And change.
If the president does offer strong and positive leadership.
On the issues that matter the most to Americans.
But the issues that matter most are not gun control they're not immigration.
They're not even if not -- education.
According to the most recent Gallup poll 21% of Americans say the number one issue is this economy.
20% say it is the deficit.
18% say it's dissatisfaction.
With this government.
16%.
Acknowledge.
That unemployment is still a major problem of this country.
Gun control immigration don't even come close to the top five problems that Americans believe -- the greatest greatest issues to resolve.
And guess what the president's priorities are as we begin.
A new term for this president.
Or could make for more -- us.
Mr.
President we -- -- -- a successful second term but we hope your address the priorities of the American citizens.
And not.
Those priorities that you set forward so far.
-- and our duration do you sir and to office.
