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EXAMPLES OF INFLATION IN LAST TWO YEARS SINCE OBAMA BECAME PRESIDENT



Posted: 02/13/11

Examples of Inflation in Last Two Years Since Obama Became President
A little more than two years ago, Barack Obama was inaugurated as president of the  United States .  Are you better off today than you were two years ago? Numbers don't lie, and here are the data on the impact he has had on the lives of Americans:

January 2009
TODAY
% chg
Source
Avg. retail price/gallon gas in  U.S.
$1.83
$3.104
69.6%
1
Crude oil, European Brent (barrel)
$43.48
$99.02
127.7%
2
Crude oil, West TX Inter. (barrel)
$38.74
$91.38
135.9%
2
Gold:  London (per troy oz.)
$853.25
$1,369.50
60.5%
2
Corn, No.2 yellow,  Central IL
$3.56
$6.33
78.1%
2
Soybeans, No. 1 yellow, IL
$9.66
$13.75
42.3%
2
Sugar, cane, raw, world, lb. fob
$13.37
$35.39
164.7%
2
Unemployment rate, non-farm, overall
7.6%
9.4%
23.7%
3
Unemployment rate, blacks
12.6%
15.8%
25.4%
3
Number of unemployed
11,616,000
14,485,000
24.7%
3
Number of fed. employees, ex. military (curr = 12/10 prelim)
2,779,000
2,840,000
2.2%
3
Real median household income (2008 v 2009)
$50,112
$49,777
-0.7%
4
Number of food stamp recipients (curr = 10/10)
31,983,716
43,200,878
35.1%
5
Number of unemployment benefit recipients (curr = 12/10)
7,526,598
9,193,838
22.2%
6
Number of long-term unemployed
2,600,000
6,400,000
146.2%
3
Poverty rate, individuals (2008 v 2009)
13.2%
14.3%
8.3%
4
People in poverty in  U.S. (2008 v 2009)
39,800,000
43,600,000
9.5%
4
U.S. rank in Economic Freedom World Rankings
5
9
n/a
10
Present Situation Index (curr = 12/10)
29.9
23.5
-21.4%
11
Failed banks (curr = 2010 + 2011 to date)
140
164
17.1%
12
U.S. dollar versus Japanese yen exchange rate
89.76
82.03
-8.6%
2
U.S. money supply, M1, in billions (curr = 12/10 prelim)
1,575.1
1,865.7
18.4%
13
U.S. money supply, M2, in billions (curr = 12/10 prelim)
8,310.9
8,852.3
6.5%
13
National debt, in trillions
$10.627
$14.052
32.2%
14
Just take this last item:  In the last two years we have accumulated national debt at a rate more than 27 times as fast as during the rest of our entire nation's history.  Over 27 times as fast!  Metaphorically, speaking, if you are driving in the right lane doing 65 MPH and a car rockets past you in the left lane 27 times faster . . . it would be doing 1,755 MPH!  This is a disaster!
Sources:
(1) U.S. Energy Information Administration; (2) Wall Street Journal; (3) Bureau of Labor Statistics; (4) Census Bureau; (5) USDA; (6) U.S. Dept. of Labor; (7) FHFA; (8) Standard & Poor's/Case-Shiller; (9) RealtyTrac; (10) Heritage Foundation and WSJ; (11) The Conference Board; (12) FDIC; (13) Federal Reserve; (14) U.S. Treasury

posted here: http://giveusliberty1776.blogspot.com/2011/02/hows-that-hopey-changey-doing-for-ya.html
Distributed by www.worldviewweekend.com

Disclaimer: Worldview Weekend, Christian Worldview Network and its columnists do not necessarily endorse or agree with every opinion expressed in every article posted on this site. We do however, encourage a healthy and friendly debate on the issues of our day. Whether you agree or disagree, we encourage you to post your feedback by using the feedback button.

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READER FEEDBACK


We're all worse off...
Posted On: 02/18/11 11:18:08 AM Age 0, MI
No, we're not better off now than we were 2 years ago. Everyone on Social security has seen their inflationary adjustments taken away, in spite of the evidence of the ever increasing inflation rate. So the tens of millions relying on that must vote "no." Inflation itself has robbed everyone of buying power regardless of income level, and it promises to steal away much, much more than it already has. And if I'm not mistaken, every home owner (and anyone who has real estate in their portfolio) has lost up to 50% of the value of that. (And I almost forgot to mention that the cost of our exact same health insurance plan is costing up 32% more than it did last year, thanks to the new health care plan.) Let's face it, even if there was absolutely no change in our financial situation, anyone who thinks he or she is better off with all the changes that have taken place in our nation over the two years, is seriously uninformed. The people in 1st class on the Titanic thought they were all right also, since the only parts of the ship that were flooding (in the early hours after the impact) were the lower decks.



Call it what it is
Posted On: 02/17/11 11:17:36 AM Age 0, MI
It's not "inflation". It's "quantitive easing." It's what happens when you print money and flood the market with nothing to back it up except Hope and Che.

better off
Posted On: 02/16/11 03:26:45 PM Age 0, FL
To the writer from PA who says he/she's better off because he/she paid $4.00 for gas in 2008. The Dow Jones Industrial Avg was at 14000 before the dems took control of house/senate. Do you want to start there? You missed the point: the start time of this assessment was 2 years ago when Messiah obama said he could fix everything. It's been two years. we're watching him make it worse on a daily basis. Be like your groundhog and go back into your hole.



Chart is misleading
Posted On: 02/16/11 10:58:01 AM Age 0, TX
This chart is very misleading. While the individual numbers are true, they are not presented accurately. For example, while the average retail price for gas in Jan 09 was 1.86, what they don't tell you is that the price for gas had just plummeted due to a variety of factors and was at its lowest point in years. The price of gas was about the same in Nov. 08 as it is now, and was higher than that for almost the entire year of 2008. The chart just shows a fluctuating market, not inflation.

Facts, not assessment.
Posted On: 02/16/11 07:52:49 AM Age 0, MI
It's not an assessment, it's just facts with a starting point. Before the arrival of Jesus, there were about 200 million sinners in the world. Since the birth of Christ, that number has gone to over 6 billion. This fact does't mean it's Christ's fault, it's just the facts.



Question.
Posted On: 02/16/11 05:33:04 AM Age 0, TX
The question was "Are you better off today than you were two years ago"? No!!! That is the answer.

Disagree with "Unfair Assessment" Comment
Posted On: 02/16/11 03:26:21 AM Age 0, FL
While it's true inflation began long before Mr. Obama took office, the point is that Mr. Obama has done nothing to oppose runaway inflation since he's been in office. In point of fact, his view of, and approach to, our governing system is doing everything it can to destroy it. The essence of the article is not to show what Obama has done, rather to highlight what he has not done, as a "leader" of the free world!



Yes, I am better off today....
Posted On: 02/16/11 03:13:03 AM Age 0, PA
Yes I am better off financially since President Obama has taken office. All my stocks except Dell have recovered, I'm not wiped out and will be able to retire in my 60's as I had planned. Also, I remember paying over $4.00 a gallon for gasoline in July 2008, five months before President Obama took office. So I must disagree.

Unfair assessment
Posted On: 02/14/11 12:54:54 PM Age 0, MO
I certainly don't think much of the integrity or leadership of President Obama, but economic degradation started long before Obama came to office. It takes Congress to fund and approve ideas from the executive. Inflation is something neither the president or Congress is responsible for. Inflation comes from the creators of money: in this country, the Federal Reserve and other private banks. George Cancilla

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