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The State of the Economy Since Obama Took Office

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  • Description

    FBN’s Gerri Willis on the financial challenges facing many Americans.

  • Duration 2:20
  • Date

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Remember President Obama said he wanted to be a transformational president not a caretaker but a change agent.

And unfortunately the changes IC for -- not so good.

-- country which we assumed our paycheck we'll get bigger over time the opposite is happen.

Median household income is a lower when then when the president took office it was 51001.

After nine now it's 50000 fit.

54 that's most recent number available.

And strangely household income declined even more after the recession -- enduring the recession.

A -- that's beginning to feel like the new normal.

The unemployment rate is up nearly half percentage point -- seven point 8% since Obama took office but.

The numbers of us who are long term unemployed that is jobless for 27 weeks or more.

Have skyrocketed.

From two and a half million in January 2009 to nearly five million in December.

What's more the labour participation rate that's the proportion of us working has fallen to 63 point 6% from 65 point seven.

Doesn't sound like a lot right with the levels are very nearly back to their early 1980s back when women were just barely getting into the workforce.

As a result more of -- -- on the -- the American number of Americans getting food stamps or snap benefits 47 and a half million from 33 million.

Gas prices are up.

The average price of a gallon of unleaded regular was a dollar 84 when he took office today.

It's three dollars and thirty cents -- nearly 80% rise.

Our entitlement programs or another step closer to being broke.

One ray of sunshine stocks are up the S&P 500 is move dramatically up 85% of of the president's tenure.

Not that he can claim responsibility or credit the rebound comes from a very low base at a time the very viability of the nation's banks was in question.

That's a legacy our children and grandchildren don't need and that's a problem Barack Obama has been a transformational president.

A president who is transformed our country but -- the way I like.

Today the president -- the case for big government he called it collective action.

As a way to bolster entitlement programs blue screen spending keep things fair for everybody.

I believe we need more personal freedom to grow our economy lift people out of unemployment and poverty and bring a renewed energy to our country.

A different vision.

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