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How's That Hope and Change Working Out for Obama Supporters?

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Filed: Citizen (apr) Country: Brazil
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Barack Obama benefited from strong support among a number of demographic groups during his 2008 presidential campaign. In an economic sense, after two-and-a-half years of his presidency, those same groups which showed him the greatest support have suffered disproportionately more than others in the United States.

It begs the question as to whether these groups will be political lemmings for Obama both in their support of his campaign and when they pull the lever in the 2012 presidential election. If their votes are based upon how their financial lives have changed since Obama took office, then they cannot reelect Obama into the White House. In other words, logic should tell them to vote against Obama next year. Consider these groups.

African-Americans

Barack Obama captured a staggering 96% of the African-American vote in the 2008 election, an increase even above their traditional backing of the Democrats' candidate. In addition, there was a slight uptick in voter turnout for Obama, as blacks had a 2% increase in turnout versus the 2004 presidential election. It is hard to fathom that a presidential candidate could possibly garner greater support from a demographic group than did Obama from African-Americans.

However, that support at the polling place has far from translated into a better way of life for the group as a whole.

When Obama took office in January 2009, the nation's unemployment rate stood at 7.6%. For African-Americans, as a group, the unemployment rate was 12.6%.

Fast forward two-and-a-half years and, according to the latest data released for May 2011, the nation's unemployment rate is 9.1%. The present rate of unemployment rate for blacks is 16.2%. So, while the overall unemployment rate has risen by 1.5% since Obama took office, the rate of unemployment for blacks is 3.6% higher. Seen another way, the gap between the African-American unemployment rate versus that of the entire population has widened from 5.0% when Obama took office to 7.1% as of May 2011. That is a rather huge move in a relatively short period of time.

What we've seen then is that African-Americans have had their economic state of life drop at a far greater rate versus other Americans during Obama's time in the White House, despite their overwhelming support of him in the 2008 elections. The numbers show that President Barack Obama has done nothing for the economic well-being of the African-American demographic group.

For him to capture a similar level of this group's votes in 2012 would be indicative of the group simply ignoring how their financial status has declined disproportionately more than the overall population under Obama's fiscal policies.

College/Young Professionals

This group was another strong supporter of Barack Obama to become President back in 2008. His message of hope and change resonated with the college crowd and among those just starting their careers. In fact, turnout among those 18-24 years of age rose slightly to 49% in the 2008 elections versus 47% in 2004. Exit poll data from 2008 show Obama enjoyed a 66% approval rating for the 18-29 year-old demographic group.

Unfortunately for this group, economic opportunities have become more and more scarce during Obama's presidency. According to a recent report from the Economic Policy Institute, for calendar year 2010, the unemployment rate for workers 16-24 years of age averaged 18.4% verses a rate of 9.6% for the overall population.

The same report states, "...the class of 2011 will likely face the highest unemployment rate for young college graduates since the Great Recession began."

The policies of the very man this demographic group supported has caused many of them to be either underemployed or unemployed, while also now burdened with thousands and thousands of dollars in college loans, in many cases.

Low Income Families

Lower income Americans offered strong support for Barack Obama. More than 70% of voters who earned less than $15,000 per year punched their card for Obama, while those whose earnings were $15,000-$30,000 voted for Obama at a clip better than 60%. Better than 50% of those earning $30,000-$50,000 also supported Obama for the Oval Office.

Yet, these same individuals have found life under Obama to be rather difficult. When Barack Obama assumed the position of President of the United States, the average price of gasoline was $1.81/gallon. Going into the past weekend, the average price nationwide was $3.72/gallon. That's a mere 106% price increase under Obama.

Energy prices, as a proportion of income, naturally impact lower income families more than middle class or upper class families. We've also seen a substantial increase in food prices, including corn and wheat, which again impact the lower income group more than the overall population.

In fact, Federal Reserve Chairman, Ben Bernanke recently indicated that lower income Americans were being hit harder by the economy as he showed that lower income Americans continue to suffer disproportionately higher unemployment than middle and upper class Americans.

Three Groups: African-Americans, College/Young Professionals, and Low Income Families. All have seen disproportionately more economic challenges than the general population during Obama's term in office. If the economy is their top issue, then they cannot support the man who has made their lives worse since he took office.

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* ~ * Charles * ~ *
 

I carry a gun because a cop is too heavy.

 

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Filed: Citizen (apr) Country: Brazil
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So far, so good, Charles - no complaints from me.

Apart from the rising debt, of course, but that's not going to change under this President or the next one.

you sure make a lot of noise when someone mentions raising taxes on the 250k crowd :hehe:


* ~ * Charles * ~ *
 

I carry a gun because a cop is too heavy.

 

USE THE REPORT BUTTON INSTEAD OF MESSAGING A MODERATOR!

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Filed: Country: United Kingdom
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you sure make a lot of noise when someone mentions raising taxes on the 250k crowd :hehe:

Well he hasn't done it yet, has he? In fact, he gave me a tax cut of $178/month (2 percent of the FICA cap of $106,800) :P


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Filed: K-1 Visa Country: Isle of Man
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Obama = Bush 3

Here is a prediction of the future:

I think the next few presidents will be

2012: Bush 4

2016: Bush 5

2020: Bush 6

2024: Bush 7

2028: Bush 8

Somewhere a default and financial armageddan (sp?) in between


India, gun buyback and steamroll.

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Filed: Citizen (apr) Country: Brazil
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Well he hasn't done it yet, has he? In fact, he gave me a tax cut of $178/month (2 percent of the FICA cap of $106,800) :P

well we'll just have to do something about that :devil:


* ~ * Charles * ~ *
 

I carry a gun because a cop is too heavy.

 

USE THE REPORT BUTTON INSTEAD OF MESSAGING A MODERATOR!

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Filed: Timeline
Three Groups: African-Americans, College/Young Professionals, and Low Income Families. All have seen disproportionately more economic challenges than the general population during Obama's term in office. If the economy is their top issue, then they cannot support the man who has made their lives worse since he took office.

link

This, of course, is the narrative that the far right wants to push. It's how they want to frame the debate.

One problem with that is that this assumes that anything Obama has done is the cause of the issues these groups are facing. Looking at the economic expansion period that preceeded the Great Recession one can't help but notice that it was the first such expansion period on record where the median income did not rise and in fact, declined. Is that Obama's fault? Of course not.

Next problem is that the hardship for these groups and the country at large would be considerably more severe were it not for the action taken by this administration that kept the economy from continuing it's free fall or just plain slide off the cliff that the previous administration left it on.

The question then is not whether these groups can support a President that has reversed the decline and is looking to put the economy of the tracks for the 21st century but whether they can support a candidate of the other side of the aisle that wants to double down on the very policies that got us to the harsh economic decline that's the cause of their hardships.

These groups also have to consider whether they are ready to pay for additional tax breaks for those that suffered the least, whether they're willing to sacrifice their health care both now and later, whether they're willing to sacrifice the education of their children and the education of the next generation of the workforce, whether they want to give up on the idea for America to lead and innovate and develop in the 21st century - all of that would be a given if the GOP wins majorities in Congress and the White House in 2012.

And you'd get more deficits and more debt on top of all that. If you think trillion dollar deficts are a bad thing, you better think twice before checking the box next to the GOP candidate. Their track record on the debt and the deficit is clear - there's no fiscal responsibility as far as the eye can see.

The Ryan Plan has been celebrated much on the right but it doesn't actually eliminate deficits let alone pay down any debt for the next 40+ years to come - that is if the rosy predictions it's scoring was based on would ever materialize. Which, of course, they will not. There will be no long term 5% growth nor will there be any 2.4% unemployment rate. Those, however, would be the requirements for Ryan's plan to balance the budget in 4 decades or so.

The economy is a real challenge for Obama and it may well end his Presidency in 2012. To anyone that has any illusions that the GOP candidate will have a better way to deal with the painful exercise of restructuring the economy while climbing out of the hole that the economy was pushed into, I have a few bridges to sell.

Edited by Mr. Big Dog

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Filed: Citizen (apr) Country: Brazil
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Is that Obama's fault? Of course not.

:rofl: so when will he finally take ownership of anything? he's been there what, 2/5 years?


* ~ * Charles * ~ *
 

I carry a gun because a cop is too heavy.

 

USE THE REPORT BUTTON INSTEAD OF MESSAGING A MODERATOR!

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:rofl: so when will he finally take ownership of anything? he's been there what, 2/5 years?

The expansion period that wasn't one for most Americans occured between 2001 and 2007. Obama was not President during this time and has, hence, no responsibility for what happened then no matter how long he's been President following that period. Otherwise, we may look into pinning the ####### Clinton received on Bush. I mean, he's been in office for 8 years and it would seem that that's long enough to assume responsibility, right?

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:rofl: so when will he finally take ownership of anything? he's been there what, 2/5 years?

I haven't seen him walking away from it and the current problems are not something you can fix in 2 yrs either. I dont see anyone else having any good answers and it could have been rather worse than better.


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I dont see anyone else having any good answers and it could have been rather worse than better.

They don't have any answers. You could see that right on stage yesterday. Upper tier tax cuts and de-regulation is the prescription they offered. Same as always. Never mind that this prescription has pushed the country onto the brink of ruin - both fiscally and economically. They want to double down because neither reality nor the country matter as much as their blind faith.

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