O

B
A
MA
C
L
I
N
T
O
N
E
C
O
N
O
MI
C
S
:
FAI
LI
NG AMERI
CA

REPUBLI
CAN NATI
ONALCOMMI
TTEE
OBAMACLI
NTON ECONOMI
CS:FAI
LI
NG AMERI
CA
11.
04.
16

Briefing Book: The Obama Economy

By Any Number Of Measures, Obamas Economic Policies
Have Failed, Yet Hillary Clinton Still Gives Him An A
THE RESULT OF THE OBAMA ECONOMY: A DISAPPEARING MIDDLE CLASS
A December 2015 Pew Study Found That For The First Time In Four Decades, The Middle Class Is
No Longer The Majority. After more than four decades of serving as the nations economic majority, the
American middle class is now matched in number by those in the economic tiers above and below it. In
early 2015, 120.8 million adults were in middle-income households, compared with 121.3 million in
lower- and upper-income households combined, a demographic shift that could signal a tipping point,
according to a new Pew Research Center analysis of government data. (The American Middle Class Is Losing Ground,
Pew Research Center, 12/9/15)

The Jobs That Pay Enough To Support A Middle-Class Lifestyle Are Disappearing. Economists
have debated the reasons why the American middle class is shrinking for years now, and a new study
highlights one key reason: The jobs that pay enough to support a middle-class lifestyle are disappearing.
Although the total number of American jobs is projected to increase by around 7.2 million over the next
five years, this growth largely leaves behind the middle of the income spectrum. (Martha C. White, So Long, Middle
Class: Middle-Income Jobs Are Disappearing the Fastest, NBC News, 8/5/16)

The U.S. Middle-Class Has Shrunk To The Point Where It No Longer Constitutes The Majority Of
The Adult Population. The nation's middle class, long a pillar of the U.S. economy and foundation of
the American dream, has shrunk to the point where it no longer constitutes the majority of the adult
population, according to a new major study. (Don Lee, Middle-Class Families, Pillar Of The American Dream, Are No Longer In The
Majority, Study Finds, Los Angeles Times, 12/9/15)

The Middle Class Is Shrinking Just About Everywhere In America

The Great Shrinking Of The Middle Class Is Not Only Happening In Troubled Regions, But Is
Taking Place In Just About Every Metropolitan Area In America. The great shrinking of the middle
class that has captured the attention of the nation is not only playing out in troubled regions like the Rust
Belt, Appalachia and the Deep South, but in just about every metropolitan area in America, according to a
major new analysis by the Pew Research Center. (Emily Badger and Christopher Ingraham, The Middle Class Is Shrinking Just About
Everywhere In America, The Washington Post, 5/11/16)

The Washington Post Headline: The Middle Class Is Shrinking Just About Everywhere In
America (Emily Badger and Christopher Ingraham, The Middle Class Is Shrinking Just About Everywhere In America, The Washington Post,
5/11/16)

The Number Of Americans That Identify Themselves As Middle-Class Continues To Shrink

A 2015 Gallup Survey Found That Only 51 Percent Of U.S. Adults Identify As Middle-Class, Down
From 63 Percent Of Those Polled In 2008. A Gallup survey this spring showed that just 51% of U.S.
adults considered themselves middle or upper middle class, with 48% saying they are part of the lower
or working class. As recently as 2008, 63% of those polled by Gallup said they were middle class. (Don Lee,
Middle-Class Families, Pillar Of The American Dream, Are No Longer In The Majority, Study Finds, Los Angeles Times, 12/9/15)

The Slow Recovery Of The Clinton-Obama Economy Has Shaken The Tradition That Americans
Have Of Self-Identifying As Middle-Class. Most Americans have traditionally identified themselves as
1

middle class, even those at the top and bottom, reflecting a kind of cultural heritage tied to the American
dream of self-reliance. But the Great Recession and subsequent slow recovery have shaken that image.
(Don Lee, Middle-Class Families, Pillar Of The American Dream, Are No Longer In The Majority, Study Finds, Los Angeles Times, 12/9/15)

Americans Believe Their Children Will Have Less Economic Opportunity Than Their
Generation Did
Americans Remain Deeply Uneasy About The Economy And Only One-Third Of Adults Believe
Children Today Will Have More Opportunity To Get Ahead As Adults Than Workers Do Now.
More importantly, the survey found, Americans remain deeply uneasy about the economys long-term
trends. A solid majority of adults say they face greater risks than their parents did, and fewer than half
believe they enjoy more opportunities than earlier generations. Only one-third say they believe children
today will have more opportunity to get ahead as adults than workers do now, with whites especially
downbeat. (Ronald Brownstein, Americas Persistent Economic Gloom, The Atlantic, 1/27/16)

A Pew Metropolitan Economics Study Shows How The Middle Class Has Shrank Since 2000
The Share Of American Adults In Middle-Income Households Decreased From 55 Percent In 2000
To 51 Percent In 2014. Notwithstanding the lowering of the threshold to be defined as middle income,
the share of American adults in middle-income households also decreased, from 55% in 2000 to 51% in
2014. (Americas Shrinking Middle Class: A Close Look At Changes Within Metropolitan Areas, Pew Research Center, 5/11/16)

The Share Of American Adults Living In Middle-Income Households Decreased In 203 Of

229 Metropolitan Areas. The decline nationally in the share of adults who are middle class
proved to be a pervasive local phenomenon in the period from 2000 to 2014. Among the 229
metropolitan areas examined, the share of adults living in middle-income households decreased in
203 areas. (Americas Shrinking Middle Class: A Close Look At Changes Within Metropolitan Areas, Pew Research Center, 5/11/16)

The National Median Income Of Middle-Income Households Decreased From $77,898 In

1999 To $72,919 In 2014, A Loss Of 6 Percent. American households in all income tiers
experienced a decline in their incomes from 1999 to 2014. Nationally, the median income of
middle-income households decreased from $77,898 in 1999 to $72,919 in 2014, a loss of 6%. The
median incomes of lower-income and upper-income households fell by 10% and 7%, respectively,
over this period. (Americas Shrinking Middle Class: A Close Look At Changes Within Metropolitan Areas, Pew Research Center,
5/11/16)

Middle-Income Households Incomes Declined In 222 Of 229 Metropolitan Areas From 1999
To 2014. The decline in household incomes at the national level reflected nearly universal losses
across U.S. metropolitan areas. Middle-income households lost ground financially in 222 of 229
metropolitan areas from 1999 to 2014. (Americas Shrinking Middle Class: A Close Look At Changes Within Metropolitan
Areas, Pew Research Center, 5/11/16)

Lower-Income Households Incomes Declined In 221 Of 229 Metropolitan Areas From 1999 To
2014. Meanwhile, the median income of lower-income households slipped in 221 metropolitan areas
and the median for upper-income households fell in 215 areas. (Americas Shrinking Middle Class: A Close Look At Changes
Within Metropolitan Areas, Pew Research Center, 5/11/16)

The National Median Income Of Lower-Income Households Decreased From $26,373 In

1999 To $23,811 In 2014, A Loss Of 10 Percent. The median incomes of lower-income and
upper-income households fell by 10% and 7%, respectively, over this period. (Americas Shrinking Middle
Class: A Close Look At Changes Within Metropolitan Areas, Pew Research Center, 5/11/16)
2

There Are 82 Metropolitan Areas Out Of 229 Where Over A Quarter Of Residents Are LowerIncome Households. There are 82 metropolitan areas in which 25% up to 30% of adults were lower
income in 2014. These areas are distributed across the country and include the Chicago and Detroit areas
in the Midwest, the Dallas, Houston and Phoenix areas to the southwest, the Atlanta and Charlotte areas
in the old South, the Philadelphia area to the east and the Portland, OR, area to the west. (Americas Shrinking
Middle Class: A Close Look At Changes Within Metropolitan Areas, Pew Research Center, 5/11/16)
The Financial Security Of Middle-Class Households Has Deteriorated Since 1999. Also, middleincome households in areas such as Janesville-Beloit and Eau Claire in Wisconsin and Elkhart-Goshen in
Indiana experienced at least a 10% decrease in median incomes. Thus, while these communities are still
largely middle class, the financial security of middle-class households in them has deteriorated since
1999. (Americas Shrinking Middle Class: A Close Look At Changes Within Metropolitan Areas, Pew Research Center, 5/11/16)
Hispanics Accounted For More Than Half Of The Population In Each Of The Metropolitan 10 Areas
With The Largest Lower-Income Tiers. The 10 metropolitan areas with the biggest lower-income tiers
are toward the Southwest, several on the southern borderWith the exception of Lake Havasu CityKingman, AZ, Hispanics accounted for more than half of the population in each of these lower-income
metropolitan areas in 2014, compared with 17% nationally. (Americas Shrinking Middle Class: A Close Look At Changes
Within Metropolitan Areas, Pew Research Center, 5/11/16)

95 Of 229 Metropolitan Areas Saw Median Incomes Drop By 10 Percent Or More From 1999 To
2014. What transpired in Springfield was not an isolated development. Seven other communities
sustained losses of at least 20%. Four of these areas were in North Carolina: Goldsboro, Rocky Mount,
Burlington and Hickory-Lenoir-Morganton. More generally, double-digit losses in median incomes (10%
or more from 1999 to 2014) prevailed in 95 metropolitan areas. As seen in the following map, these
metropolitan areas are to be found around the country, with the exception of the northeastern coast.
(Americas Shrinking Middle Class: A Close Look At Changes Within Metropolitan Areas, Pew Research Center, 5/11/16)
Only 39 Or 299 Metropolitan Areas Saw Median Incomes Increase At All From 1999 To 2014. A
small group of metropolitan areas, 39 in all, experienced an increase in median household income from
1999 to 2014. (Americas Shrinking Middle Class: A Close Look At Changes Within Metropolitan Areas, Pew Research Center, 5/11/16)

AMERICANS ARE STILL STRUGGLING TO FIND JOBS IN OBAMAS ECONOMY

The Unemployment Rate Has Barely Budged Since August 2015
According To The Bureau Of Labor Statistics, The Unemployment Rate And Number Of
Unemployed Americans Have Shown Little Movement Since August 2015. The unemployment
rate ticked up slightly, from 4.9 to 5 percent, and the number of unemployed people was reported at 7.9
million, also reflecting little change. As the Labor Department said Friday, Both measures have shown
little movement, on net, since August of last year. (Bill Chappell, U.S. Reports 156,000 New Jobs In September, Lower Than
Predicted, NPR, 10/7/16)

Jobs Growth Has Been Subpar All Year

In September, Job Growth Slowed For The Third Straight Month. U.S. employment growth
unexpectedly slowed for the third straight month in September, which could make the Federal Reserve
more cautious about raising interest rates. (Jason Lange, U.S. Job Growth Slows, Clouds Case For Fed Rate Hike, Reuters, 10/7/16)
August 2016 MarketWatch Headline: U.S. Jobs Growth Slows In August (Jeffry Bartash, U.S. Jobs Growth Slows In
August, MarketWatch, 9/2/16)

Mays Jobs Report Was The Weakest Performance In More Than Five Years. Nonfarm payrolls
rose by a seasonally adjusted 38,000 in May, the weakest performance since September 2010, the Labor
Department said Friday. (Harriet Tory and Jeffrey Sparshott, U.S. Added Only 38,000 Jobs in May, The Wall Street Journal, 6/3/16)
April 2016 CBS Headline: U.S. Created Fewest Number Of Jobs In Seven Months In April (Kate Gibson,
U.S. Created Fewest Number Of Jobs In Seven Months In April, CBS, 5/6/16)

In March, The Economy Added Just 186,000 Jobs. In addition to the weak May, the economy created
just 123,000 positions in April and 186,000 in March. (Jeff Cox, Yellen: Im Very Hopeful That Economic Growth Will Pick Up,
CNBC, 6/22/16)
Januarys Jobs Report Suggested That The U.S. Economy Has Encountered A Hill That Slowed It
Sharply. But the January jobs report, released Friday, suggests that the ever-dependable locomotive for
the U.S. economy has encountered a hill that slowed it sharply. (Don Lee, Sluggish Jobs Report Raises Questions About The
Direction Of The U.S. Economy, Los Angeles Times, 10/7/16)

The Topline Numbers From Octobers Jobs Report Were Disappointing

In October, Only 161,000 Nonfarm Payroll Jobs Were Added. (Bureau Of Labor Statistics, Accessed 11/4/16)
Octobers Labor Force Participation Rate Of 62.8 Percent Is At A Level Last Seen In March 1978.
(Bureau Of Labor Statistics, Accessed 11/4/16)

The Real Unemployment Rate, Including Those That Are Working Part-Time Due To Economic
Reasons, Was 9.7 Percent In October. (Bureau Of Labor Statistics, Accessed 11/4/16)
In October, There Were 15.38 Million Americans Who Were Unemployed, Underemployed Or
Have Given Up Looking For Work. (Bureau Of Labor Statistics, Accessed 10/7/16)

In October, There Were 7.79 Million Unemployed American Workers. (Bureau Of Labor Statistics,

In October, There Were 5.89 Million Workers Working Part-Time For Economic Reasons.

In October, There Were 1.70 Million American Workers That Were Marginally Attached To
The Labor Force. (Bureau Of Labor Statistics, Accessed 11/4/16)

Accessed 11/4/16)

(Bureau Of Labor Statistics, Accessed 11/4/16)

The Unemployment Rate For 16-24 Year Olds Increased From 10.3 To 10.4 Percent In October.
(Bureau Of Labor Statistics, Accessed 11/4/16)

The Unemployment Rate For 20-24 Year Olds Increased From 8.1 To 8.4 Percent In October. (Bureau
Of Labor Statistics, Accessed 11/4/16)

The Unemployment Rate For 25-34 Year Olds Was 5.1 Percent In October. (Bureau Of Labor Statistics, 11/4/16)
The African-American Unemployment Rate Increased From 8.3 To 8.6 Percent In October. (Bureau Of
Labor Statistics, Accessed 11/4/16)

The Hispanic Unemployment Rate Was 5.7 Percent In October. (Bureau Of Labor Statistics, Accessed 11/4/16)

The Jobs Report Reiterated That Obamas Economy Is Not Creating Enough Good-Paying,
Blue Collar Jobs
Since Obama Took Office, The Nation Has Lost 303,000 Manufacturing Jobs. (Bureau Of Labor Statistics,
Accessed 11/4/16)

In October, The Nation Lost 9,000 Manufacturing Jobs. (Bureau Of Labor Statistics, Accessed 11/4/16)
4

Since January 2009, The Nation Has Only Gained 112,000 Construction Jobs, An Average Of Only
1,200 For Each Month Obama Has Been In Office. (Bureau Of Labor Statistics, Accessed 11/4/16)

The Average Time Americans Are Unemployed Has Increased Under Obama
Since Obama Took Office, The Average Duration Of Unemployment Has Increased From 19.8 To
27.2 Weeks. (Bureau Of Labor Statistics, Accessed 11/4/16)

THE ECONOMY BARELY GREW IN THE FIRST HALF OF THIS YEAR

The U.S. Economy Grew By Just 1.2 Percent In The Second Quarter And Only 0.8 Percent In
The First Quarter
The U.S. Economy Only Grew At An Annual Rate Of 1.2 Percent In The Second Quarter Of this Year,
Well Below The Expectations Of Economists. Gross domestic product, the broadest measure of
goods and services produced across the U.S., grew at a seasonally adjusted annual rate of 1.2% in the
second quarter, the Commerce Department said Friday. The figure was well below the 2.6% growth
economists surveyed by The Wall Street Journal had forecast. (Eric Morath and Jeffrey Sparshott, U.S. Economy Grew At A
Disappointing 1.2% In 2nd Quarter, The Wall Street Journal, 7/29/16)

The U.S. Economy Grew A Mere 1.2% Between April And June. The U.S. economy grew a
mere 1.2% between April and June compared to the same period last year, according to the
Commerce Department. (Patrick Gillespie, Spring Slump: U.S. Economy Only Grows 1.2%, CNN Money, 7/29/16)

Investors Business Daily Headline: U.S. GDP Grew Just 1.2% In Q2, Far Worse Than
Expected (Ed Carson, U.S. GDP Grew Just 1.2% In Q2, Far Worse Than Expected, Investors Business Daily, 7/29/16)

USA Today Headline: The Economy Grew A Feeble 1.1% In Second Quarter (Paul Davidson, The
Economy Grew A Feeble 1.1% In Second Quarter, USA Today, 8/26/16)

Revised Numbers Show That The U.S. Economy Only Grew By 0.8 Percent In The First Quarter.
The gain marks only a slight acceleration from the first quarter, when GDP advanced at a downwardly
revised 0.8% pace. The first quarter was previously seen as increasing 1.1% from the prior period. (Eric
Morath and Jeffrey Sparshott, U.S. Economy Grew At A Disappointing 1.2% In 2nd Quarter, The Wall Street Journal, 7/29/16)

America's Economy Didn't Bounce Back In The Spring After A Sluggish Winter. (Patrick Gillespie,
Spring Slump: U.S. Economy Only Grows 1.2%, CNN Money, 7/29/16)

The First Quarters GDP Number Showed Growth Was Extremely Sluggish. It's just a notch
better than the winter, when the economy was extremely sluggish, growing by only 0.8%. (Patrick
Gillespie, Spring Slump: U.S. Economy Only Grows 1.2%, CNN Money, 7/29/16)

The Economy Has Grown At Less Than A 2% Pace For Three Straight Quarters. (Eric Morath and Jeffrey
Sparshott, U.S. Economy Grew At A Disappointing 1.2% In 2nd Quarter, The Wall Street Journal, 7/29/16)

In Obamas Eighth Year In Office, Lackluster Growth Has Become The Norm In The Slowest
Economic Recovery Since World War II
Annual Growth Has Averaged 2.1 Percent In The Slowest Economic Recovery Since World War II.
The U.S. economic expansion will celebrate its seventh birthday next month, making it the fourth longest
recovery since World War II. But it has also been the slowest, averaging modest annual growth of 2.1
percent. (Martin Crutsinger, US Economy Showing Signs Of Life After Slow Start To Year, The Associated Press, 5/27/16)

The Average Annual Growth Rate During The Current Business Cycle Remains The
Weakest Of Any Expansion Since At Least 1949. (Eric Morath and Jeffrey Sparshott, U.S. Economy Grew At A
Disappointing 1.2% In 2 Quarter, The Wall Street Journal, 7/29/16)
nd

The Weak Growth Shown By The Economy Is Falling Short Of Workers Would Expect To See In The
Seventh Year Of A Recovery. But the overall gains are still likely to fall short of what many experts
not to mention ordinary workers would hope to see as the recovery nears the end of its seventh year.
(Nelson, D. Schwartz, U.S. Economy Better Than Thought, But Still Weak, The New York Times, 5/27/16)

Obama Is On Track To Be One Of The Worst Presidents Ever For U.S. Economic Growth
Obama Is On Track To Be The Only U.S. President In History That Did Not Deliver A Single Year Of
3.0% + Economic Growth. Right now, the nation is probably already in a recession. The BEA's first
estimate of 4Q2015 RGDP growth was only 0.69%, and there is mounting evidence that this will later be
revised downward. However, making the wildly optimistic assumption that 2016 RGDP growth will come
in at the CBO's current forecast (2.67%), Obama will be the only U.S. president in history that did not
deliver a single year of 3.0%+ economic growth. (Louis Woodhill, Barack Obamas Sad Record On Economic Growth, RealClear
Markets, 2/1/16)

Obama Could Leave Office With An Average Economic Growth In The Bottom Four Of All
Presidents. This would place his presidency fourth from the bottom of the list of 39*, above only those
of Herbert Hoover (-5.65%), Andrew Johnson (-0.70%) and Theodore Roosevelt (1.41%). (Louis Woodhill,
Barack Obamas Sad Record On Economic Growth, RealClear Markets, 2/1/16)

Obama May Leave Office Having Only Produced An Average Of 1.55% Economic Growth.
Again, assuming 2.67% RGDP growth for 2016, Obama will leave office having produced an
average of 1.55% growth. This would place his presidency fourth from the bottom of the list of
39*, above only those of Herbert Hoover (-5.65%), Andrew Johnson (-0.70%) and Theodore
Roosevelt (1.41%). (Louis Woodhill, Barack Obamas Sad Record On Economic Growth, RealClear Markets, 2/1/16)

Because Of Obamas Failure To Generate Economic Growth, 93 Percent Of U.S. Counties Have
Failed To Recover From The Recession
The National Association Of Counties Found That Under The Clinton-Obama Economy, 93 Percent
Of Counties In The United States Have Failed To Fully Recover From The Recession. More than
six years after the economic expansion began, 93% of counties in the U.S. have failed to fully recover from
the blow they suffered during the recession. Nationwide, 214 counties, or 7% of 3,069, had recovered last
year to prerecession levels on four indicators: total employment, the unemployment rate, size of the
economy and home values, a study from the National Association of Counties released Tuesday found.
(Eric Morath, Six Years Later, 93% Of U.S. Counties Havent Recovered From Recession, Study Finds, The Wall Street Journal, 1/12/16)

THE PERCENTAGE OF AMERICANS BARELY ATTACHED OR LEAVING THE

WORKFORCE REMAIN AT HISTORIC LEVELS
Obamas Labor Force Participation Rate Has Been At Low Levels Not Seen Since The Carter
Administration
The U.S. Labor Force Participation Rate Is Currently At 1970s Era Levels. Labor force participation
was unchanged at 62.8 percent, close to its lowest level since the 1970s. (Timothy Noah, Economy Added 151,000 Jobs
In August, Politico, 9/2/16)

Octobers Labor Force Participation Rate Of 62.8 Percent Is At A Level Last Seen In March
1978. (Bureau Of Labor Statistics, Accessed 11/4/16)

Since Obama Took Office, 14 Million More Americans Are Out Of The Workforce
As Of October 2016, Since Obama Took Office 14,080,000 Americans Have Left The Labor Force.
(Bureau Of Labor Statistics, Accessed 11/4/16)

In October 2016, There Were 94,609,000 Americans Not In The Labor Force, Up From
80,529,000 In January 2009. (Bureau Of Labor Statistics, Accessed 11/4/16)

Americans Are Working Part-Time Jobs Because They Cant Find Full-Time Employment
In October, There Were 5.89 Million Workers Working Part-Time For Economic Reasons. (Bureau Of
Labor Statistics, Accessed 11/4/16)

Americans Are Giving Up Looking For Work

According To A June 2016 Harris Poll, 43 Percent Of Jobless Americans Have Given Up Looking For
Work, A Figure That Paints A Grim Picture Of The Labor Market. Nearly half of unemployed
Americans have quit looking for work, and the numbers are even worse for the long-term jobless,
according to a poll released Wednesday that paints a grim picture of the labor market. Some 59 percent
of those who have been out of work for two years or more say they have stopped looking, the Harris Poll
of unemployed Americans showed. Overall, 43 percent of the jobless said they have given up, according
to the poll released in conjunction with Express Employment Professionals, a job placement service. (Jeff
Cox, US Unemployed Have Quit Looking For Jobs At A Frightening Level: Survey, CNBC, 6/8/16)

The Underemployment Rate For Recent College Graduates Is At An All Time High
An Analysis By The Economic Policy Institute Found That The Underemployment Rate For Recent
College Graduates Is 12.6 Percent, The Highest Its Ever Been. Currently, while the unemployment
rate of this group is 5.6 percent, the underemployment rate is more than twice that, at 12.6 percent. In
other words, in addition to the substantial share who are officially unemployed, a large number of these
young, highly educated workers either have a job but cannot attain the hours they need, or want a job but
have recently given up looking for work. The underemployment-to-unemployment ratio for recent
college graduates is the highest its ever been, at 2.3. (Teresa Kroeger, Tanyell Cooke, and Elise Gould, The Class Of 2016,
Economic Policy Institute, 4/21/16)

WAGES HAVE STAGNATED FOR AMERICAN WORKERS AND INCOMES HAVE NOT
RECOVERED TO PRE-RECESSION LEVELS
Income Levels Are Still Not Back At Pre-Recession Levels
PBS NewsHour Headline: Income Is Up, Poverty Is Down, But Neither Are Back At Pre-Recession
Levels (Kristen Doerer, Income Is Up, Poverty Is Down, But Neither Are Back At Pre-Recession Levels, PBS NewsHour, 9/13/16)
Middle-Income American Families Make Substantially Less Money In Inflation Adjusted Terms
Than Years Ago And There Is No Evidence That Is Reversing. A middle-income American family, in
other words, makes substantially less money in inflation-adjusted terms than it did 15 years ago. And
there is no evidence that is reversing. (Neil Irwin, Why Americans Still Think The Economy Is Terrible, The New York Times, 9/16/15)
Wage Growth Has Still Not Gotten Back To Pre-Recession Levels. Hourly wages for private sector
workers rose 2.6 percent in September from the same month a year earlier, in line with economists'
expectations. The annual growth rate has shown signs of accelerating over the last year although it
remains slower than before the 2007-2009 recession. (Jason Lange, U.S. Job Growth Slows, Clouds Case For Fed Rate Hike,
Reuters, 10/7/16)

Under Obama, Wages And Salaries Have Stagnated

Last Year, Workers Salaries And Benefits Rose Just 2 Percent. The Labor Department says the
employment cost index, which tracks wages and benefits, rose 0.6 percent in the October-December
quarter. That's the same as the previous three months. In the past year, salaries and benefits have risen
just 2 percent, again marking the same annual pace as the previous two quarters. That's below the
roughly 3.5 percent rate consistent with a healthy economy. (Americans Wage Gains Remain Muted In 2015, The Associated
Press, 1/29/16)

The Employment Cost Index For Wages And Salaries Rose 2.1 Percent In 2015. (Bureau Of Labor
Statistics, Accessed 9/6/16)

Since Obama Took Office, Wage-Growth Has Hovered Around 2 Percent Annually.
Through most of the economic recovery, wage-growth has hovered around 2 percent annually.
(Mitchell Hartman, Are Wages Growing Fast Enough?. Marketplace, 1/8/16)

In A Strong Economy Wage Inflation Would Be Around 3 To 4 Percent. Thats below the 3
percent to 4 percent that would be expected in a strong economy, according to Glassdoor
economist Andrew Chamberlain. Wage growth usually has reached at least 3 percent after
previous recessions. (Aimee Picchi, Looking For Wage Growth? Then Consider These Jobs, MarketWatch, 1/8/16)

Wages Have Continued A Long Stagnation, Which Shows Why So Many Americans Feel That
They Have Not Experienced A Major Improvement In Their Economic Prospects.
Meanwhile, wages continued a long stagnation, with the median household income remaining at
$53,657, effectively the same, after adjusting for inflation, as the year before, showing why so many
Americans feel that they have not experienced a major improvement in their economic prospects. (Amy
Goldstein, Jeff Guo and Lazaro Gamio, Number Of Americans Without Health Insurance Falls As Income And Poverty Rate Stay Level, The Washington Post,
9/16/15)

Workers Havent Seen Wages Climb, As Promised During The Recovery Under Obama. Many
voters say they greet public discussions about a robust U.S. economy with skepticism because they and
their communities continue to feel the effects of losses during the Great Recession. They know that
workers havent seen wages climb, as promised, even as companies resumed hiring, experienced
productivity gains, and pocketed new profits. (Alexis Simendinger, Stagnant Pay Says It All, RealClearPolitics, 6/2/16)
8

The Current Economic Cycle Seems To Have Broken With The Theory That A Lower
Unemployment Rate Results In Higher Wages. Unemployment peaked at 10% in October 2010, its
worst level in a quarter century. Now it's 5.1%. Many experts said once unemployment fell to 5.5% -- as it
did in February -- wages would pick up within months. But the current economic cycle seems to have
broken with that theory, even though some economists and the Fed don't want to acknowledge it. (Heather
Long, Will We Ever Get Higher Wages? CNN, 9/21/15)

AFTER EIGHT YEARS IN OFFICE, POVERTY IS STILL UP FROM PRE-RECESSION

LEVELS
Under Obama, The Poverty Rate Is Up, With Over 3 Million More Americans In Poverty On His
Watch
The Poverty Rate Has Increased By 0.3 Percentage Points Under Obama, From 13.2 Percent In
2008 To 13.5 Percent In 2015. (U.S. Census Bureau, Accessed 9/22/16)
Under Obama, The Number Of Americans In Poverty Has Increased By 3.3 Million To 43.1 Million,
Up From 39.8 Million In 2008. (U.S. Census Bureau, Accessed 9/22/16)

About 43.1 Million Americans Were Living In Poverty In 2015. That means that in 2015, 43.1
million people 3.5 million less than in 2014 were living in poverty. (Susan Campbell, Poverty Decreased,
But Its Not Time To Celebrate, The Hill, 9/17/16)

32.9 Percent, Or Nearly One Third, Of African-American Children Were Living In Poverty In 2015.
(U.S. Census Bureau, Accessed 9/22/16)

The Number Of Americans On Food Stamps Has Increased By Over 35 Percent

The Number Of Americans On Food Stamps During Obamas Time In Office Has Increased By 11.4
Million, From 31.98 Million In January 2009 To 43.37 Million Americans In July 2016, The Most
Recently Available Data. (Supplemental Nutrition Assistance Program, U.S. Department Of Agriculture Food And Nutrition Service, Accessed
10/26/16)

During President Obamas Tenure, The Poverty Rate Stood At 15 Percent For Three
Consecutive Years, The First Time Since The Mid-1960s
In January 2014, The Poverty Rate Has Stood At 15 Percent For Three Consecutive Years, The
First Time That Has Happened Since The Mid-1960s. The poverty rate has stood at 15 percent for
three consecutive years, the first time that has happened since the mid-1960s. The poverty rate in 1965
was 17.3 percent; it was 12.5 percent in 2007, before the Great Recession. (Dave Boyer, Thats Rich: Poverty Level
Under Obama Breaks 50-Year Record, The Washington Times, 1/7/14)

From 2010 To 2012, The U.S. Poverty Rate Stood At 15 Percent Or Higher. (U.S. Census Bureau, Accessed
9/22/16)

THE AMERICAN DREAM OF OWNING A HOME IS IN DECLINE, WITH THE

HOMEOWNERSHIP RATE HITTING A 50-YEAR LOW EARLIER THIS YEAR
In The Third Quarter Of 2016, The U.S. Homeownership Rate Stood At 63.5 Percent, Down From
67.3 Percent In The First Quarter Of 2009, A 3.8 Percent Drop Under Obama. (U.S. Census Bureau, Accessed
10/28/16)

In July, The Census Bureau Said The U.S. Homeownership Rate Hit 62.9 Percent, The Lowest
Figure Since 1965. The homeownership rate, the proportion of households that are owner-occupied,
fell to 62.9%, half a percentage point lower than the second quarter of 2015 and 0.6 percentage point
9

lower than the first quarter 2016, the Census Bureau said on Thursday. That was the lowest figure since
1965. (Jeffrey Sparshott, U.S. Homeownership Rate Falls to Five-Decade Low, The Wall Street Journal, 7/28/16)

The Wall Street Journal Headline: U.S. Homeownership Rate Falls To Five-Decade Low
(Jeffrey Sparshott, U.S. Homeownership Rate Falls to Five-Decade Low, The Wall Street Journal, 7/28/16)

African-American And Hispanic Homeownership Has Sharply Fallen

Since Obama Took Office, The U.S. Homeownership Rate For African-Americans Has Dropped
Nearly Five Percent, From 46.1 Percent In The First Quarter Of 2009 To 41.3 Percent In The Third
Quarter Of 2016. (U.S. Census Bureau, Accessed 10/28/16)
The Hispanic Homeownership Rate Is Down Under Obama, From 48.6 Percent In The First
Quarter Of 2009 To 47 Percent In The Third Quarter Of 2016. (U.S. Census Bureau, Accessed 10/28/16)

Underemployed Americans Are Forced To Dedicate More Of Their Incomes To Rent, Making
Middle-Class Home Ownership Increasingly Out Of Reach
As U.S. Renters Dedicate More Of Their Incomes To Rent, The Housing Sector Is Struggling To
Produce Profitable Housing That Is Affordable To Lower- And Moderate-Income Families. The
situation could have significant policy implications. Renters who are severely cost-burdenedmeaning
they pay more than 50% of their incomes in rentoften require federal subsidies to find an affordable
place to live. The private sector is struggling to produce profitable housing that is affordable to lower-
and moderate-income families, while many federal housing subsidies have been cut in recent years. (Laura
Kusisto, Renters Will Continue To Struggle For The Next Decade, Harvard Study Sayas, The Wall Street Journal, 9/21/15)

The Dream Of Homeownership Is Slipping Out Of Reach For Young People, With The Plurality
Of Young People Now Living In Their Parents Homes
Many Young People Have Given Up On The Dream Of Owning A Home, As Homeownership Rates
Among People Under 35 Are On The Decline. Many young people have given up at least for now.
Homeownership rates among people under 35 are on the decline, and it's not clear when that trend will
reverse. (Hadley Malcolm, To Buy Or Not To Buy A Home? For Many Millennials, Thats The Question, USA Today, 5/17/16)

Since Obama Took Office, The U.S. Homeownership Rate For Americans Under The Age Of
35 Has Dropped More Than Five Percent, From 39.8 Percent In The First Quarter Of 2009
To 34.1 Percent In The Second Quarter Of 2016. (U.S. Census Bureau, Accessed 9/16/16)

Millennials Are Expected To Grow And Continue To Rent In Larger Numbers Than Prior
Generations Since Many Were Unemployed Or Underemployed During The Early Years Of Their
Careers. Millennialsthe population currently in their mid-20s and early 30sare also expected to
grow and continue to rent in larger numbers than prior generations. Many of those young adults entered
the job market during and after the recession, meaning many were unemployed or underemployed for
crucial early years of their careers, and are more likely to struggle to afford housing, the report says. (Laura
Kusisto, Renters Will Continue To Struggle For The Next Decade, Harvard Study Says, The Wall Street Journal, 9/21/15)

For The First Time In More Than 130 Years, 18 To 34 Year Olds Are More Likely To Be Living In
Their Parents Home Than They Were To Be Living With A Spouse Or Partner In Their Own
Household. In 2014, for the first time in more than 130 years, adults ages 18 to 34 were slightly more
likely to be living in their parents home than they were to be living with a spouse or partner in their own
household. (Richard Fry, For First Time In Modern Era, Living With Parents Edges Out Other Living Arrangements For 18-To 34-Year-Olds, Pew
Research, 5/24/16)

10

By 2014, 31.6% Of Young Adults Were Living With A Spouse Or Partner In Their Own
Household, Below The Share Living In The Home Of Their Parent(S) (32.1%). (Richard Fry, For
First Time In Modern Era, Living With Parents Edges Out Other Living Arrangements For 18-To 34-Year-Olds, Pew Research, 5/24/16)

35 Percent Of Young Men Ages 18 To 34 Are Living At Home With Their Parents, Making It The
Dominant Living Arrangement Since Obama Entered Office. Among young adults, living
arrangements differ significantly by gender. For men ages 18 to 34, living at home with mom and/or dad
has been the dominant living arrangement since 2009. In 2014, 28% of young men were living with a
spouse or partner in their own home, while 35% were living in the home of their parent(s). (Richard Fry, For
First Time In Modern Era, Living With Parents Edges Out Other Living Arrangements For 18-To 34-Year-Olds, Pew Research, 5/24/16)

Employed Young Men Are Much Less Likely To Live At Home Than Young Men Without A
Job, And Employment Among Young Men Has Fallen Significantly In Recent Decades. In
addition, trends in both employment status and wages have likely contributed to the growing
share of young adults who are living in the home of their parent(s), and this is especially true of
young men. Employed young men are much less likely to live at home than young men without a
job, and employment among young men has fallen significantly in recent decades. (Richard Fry, For
First Time In Modern Era, Living With Parents Edges Out Other Living Arrangements For 18-To 34-Year-Olds, Pew Research, 5/24/16)
A Record High 36 Percent Of Young African-Americans And Hispanics Aged 18 To 34 Are Living
In Their Parents Homes. Among racial and ethnic groups, record-high shares of black and Hispanic
young adults (36% for each group) lived in the home of their parent(s) in 2014. (Richard Fry, For First Time In
Modern Era, Living With Parents Edges Out Other Living Arrangements For 18-To 34-Year-Olds, Pew Research, 5/24/16)

OBAMA RAISED TAXES ON THE MIDDLE CLASS BY HUNDREDS OF BILLIONS OF

DOLLARS
Obama Broke His Promise Not To Raise Taxes On The Middle Class Just One Month Into Office
Obama Broke His Promise Not To Raise Taxes On The Middle Class By Increasing Tobacco Taxes,
An Increase That Disproportionately Affects The Poor. The largest increase in tobacco taxes took
effect despite Obama's promise not to raise taxes of any kind on families earning under $250,000 or
individuals under $200,000. This is one tax that disproportionately affects the poor, who are more likely
to smoke than the rich. (Bill Meyer, Obamas Tax Pledge Goes Up In Tobacco Smoke, The [Cleveland, Ohio] Plain Dealer, 4/1/09)
Obama Signed The Tobacco Tax Increase Into Law In February 2009, Breaking His Promise Just
One Month Into Office. Although President Obama signed the new cigarette tax increase into law in
February, many Americans are probably becoming aware of it only this week, just as the tax goes into
effect. (Lydia Saad, Cigarette Tax Will Affect Low-Income Americans Most, Gallup, 4/1/09)

ObamaCare Contains Over $1 Trillion In New Taxes, And Hiked Taxes On The Middle Class By
As Much As $377 Billion
According To The House Of Representatives Ways And Means Committee, The Affordable Care
Act Contained 21 Tax Increases Totaling More Than $1 Trillion Over A Decade. The JCT today
released Present Law and Background Relating to the Tax-Related Provisions in the Affordable Care
Act, which contains 100 pages of details on the laws new taxes. The chart below illustrates the 21 tax
increases contained within ObamaCare, a dozen of which marked with an asterisk (*) below target
Americans earning less than $200,000 per year for singles and $250,000 per year for married couples, in
clear violation of the Presidents pledge to avoid tax hikes on low- and middle-income taxpayers.
(ObamaCare: Trillion Dollar Tax Hike That Hurts Small Businesses, U.S. House Of Representatives Committee On Ways And Means, 3/31/16)

11

The U.S. Congress Joint Committee On Taxation Estimated That The Tax Increases In ObamaCare
Could Amount To As Much As A $377 Billion Tax Hike On The Middle Class. As it happens, the Joint
Committee on Taxation, in response to a question from a Republican senator, last year identified the
middle-class taxes in the health care law. In this 10-year period, it identified about $130 billion in taxes
with direct impact on the middle class, and another $247 billion in taxes with possible indirect effects.
That gets us to $377 billion. (Glenn Kessler, Does Obamacare Have $1 Trillion In Tax Hikes, Aimed At The Middle Class, The Washington Post,
3/12/13)

OBAMA HAS NEARLY DOUBLED THE NATIONAL DEBT

On Obamas Watch, The National Debt Has Increased By 80 Percent
Under The Obama Administration, The National Debt Has Increased By 84 Percent, A Total Of $9.1
Trillion, From $10.627 Trillion In 2009 To $ 19.760 Trillion As Of November 1, 2016. (Daily History Of
The Debt, U.S. Department Of Treasury, Accessed 11/3/16)

The Washington Times Headline: $20 Trillion Man: National Debt Nearly Doubles During
Obama Presidency (Dave Boyer, $20 Trillion Man: National Debt Nearly Doubles During Obama Presidency, The Washington Times,
11/1/15)

The Washington Examiner Headline: National Debt Hits $19.5 Trillion (Pete Kasperowicz, National
Debt Hits $19.5 Trillion, The Washington Examiner, 9/1/16)

When Obama Took Office, He Pledged To Cut The Deficit In Half By The End Of His First Term,
A Promise He Failed To Keep
In February 2009, Obama Pledged To Cut The Deficit In Half By The End Of Our First Term In
Office. PRESIDENT BARACK OBAMA: That is why today I am pledging to cut the deficit we inherited by
half by the end of my first term in office. (President Barack Obama, Remarks At The Opening Of The Fiscal Responsibility Summit,
Washington, DC, 2/23/09)

Click To Watch
Politifact: Obama Vowed To Cut The Annual Deficit In Half By The End Of His First Term But
Failed To Do So. Obama vowed to cut the annual deficit in half by the end of his first term and, nearly
four years later, he hasnt done so. The federal deficit represents how much the government's spending
12

exceeds its revenues in a given fiscal year. (Bill Wichert, Barack Obama Broke Promise To Cut Annual Deficit In Half By End Of His First
Term, Rep. Leonard Lance Says, PolitiFact, 10/21/12)

In 2012, At The End Of Obamas First Term, The Annual Federal Budget Deficit Totaled
$1.09 Trillion. (Budget Of The U.S. Government Fiscal Year 2017 Historical Tables, Office Of Management And Budget, 2/16)

When Asked About His Failure To Bring Down Deficits In 2012, Obama Made Excuses For His
Trillion Dollar Deficits, Blaming The State Of The Economy. QUESTION: Youre getting pelted in the
media. Theyre showing this video over and over again of you in February 09 saying by the end of your
first term, youre going to reduce the deficit by half. PRESIDENT BARACK OBAMA: Right. QUESTION:
Were not there. OBAMA: Well, were not there because this recession turned out to be a lot deeper
than any of us realized. (President Barack Obama, Remarks In An Interview With WAGA, Washington, DC, 2/14/12)

Click To Watch

The Congressional Budget Office Projects The Debt Will Skyrocket Under Obamas Current
Policies
CBO Projects That Under Current Obama Policies, The National Debt Will Reach 141 Percent Of
GDP In Two Decades, The Highest Level Ever Recorded. And if current laws generally remain
unchanged, budget deficits as a share of the nations outputits gross domestic product (GDP)will
grow over the next decade. As a result, federal debt held by the public would rise from its already high
level from 75 percent of GDP today to 86 percent by 2026, CBO projects. Beyond the next 10 years, the
long-term budget outlook is projected to worsen further, with debt reaching 141 percent of GDP in
2046the highest ever recorded. (The 2016 Long-Term Budget Outlook, Congressional Budget Office, 7/12/16)

If Current Laws Governing Taxes And Spending Remained Generally The Same, CBO
Estimates, Debt Would Nearly Double As A Percentage Of GDP Over The Next 30 Years. (The
2016 Long-Term Budget Outlook, Congressional Budget Office, 7/12/16)

CBO: The Prospect Of Such Large Debt Poses Substantial Risks For The Nation And Presents
Policymakers With Significant Challenges. (The 2016 Long-Term Budget Outlook, Congressional Budget Office, 7/12/16)
CBO Says That A Large And Growing Federal Debt Will Hurt The Economy, Reduce National
Saving And Income In The Long Term, And Increase The Likelihood Of A Financial Crisis. Large
and growing federal debt over the coming decades would hurt the economy and constrain future budget
13

policy. The amount of debt that is projected in the extended baseline would reduce national saving and
income in the long term; increase the governments interest costs, putting more pressure on the rest of
the budget; limit lawmakers ability to respond to unforeseen events; and increase the likelihood of a
fiscal crisis, an occurrence in which investors become unwilling to finance a governments borrowing
needs unless they are compensated with very high interest rates. (The 2016 Long-Term Budget Outlook, Congressional
Budget Office, 7/12/16)
CBO Has Said Rising Federal Deficits Will Be A Result Of Growing Federal Spending, Specifically
Citing Increasing Health Care Spending And Higher Interest On The Debt. In CBOs projections,
deficits rise during the next three decades because the governments spending grows more quickly than
its revenues do (see Summary Figure 1). In particular, spending grows for Social Security, the major
health care programs (primarily Medicare), and interest on the governments debt. (The 2016 Long-Term Budget
Outlook, Congressional Budget Office, 7/12/16)

CBO Projects The National Debt Will Increase Because Of Increases In Spending, Not A Lack Of
Revenues. In CBOs extended baseline, debt held by the public rises because growth in total spending
outpaces growth in total revenues, resulting in larger budget deficits. (The 2016 Long-Term Budget Outlook,
Congressional Budget Office, 7/12/16)

(The 2016 Long-Term Budget Outlook, Congressional Budget Office, 7/12/16)

CBO Found That Federal Debt Has Ballooned In The Past Decade, More Than Doubl[ing]
Between 2007 And 2015. Federal debt held by the public ballooned in the past decade. Debt at the end
of 2007 stood at 35 percent of GDP. But large deficits stemming from the 20072009 recession and the
ensuing policy responses caused that debt to grow sharply over the next five years; by the end of 2015,
federal debt had more than doubled, measuring 74 percent of GDP. That amount of debt is very high by
historical standards. For comparison, debt held by the public has averaged 39 percent of GDP over the
past 50 years. And debt has exceeded 70 percent of GDP during only one other period in U.S. history
14

from 1944 through 1950, because of the surge in federal spending during World War II. (The 2016 Long-Term
Budget Outlook, Congressional Budget Office, 7/12/16)

COLLEGE HAS BECOME LESS AFFORDABLE UNDER OBAMA, LEADING TO MASSIVE

GROWTH IN STUDENT DEBT
At The 2008 Democrat National Convention, Obama Said He Would Make College Affordable.
OBAMA: And we will keep our promise to every young American: If you commit to serving your
community or our country, we will make sure you can afford a college education. (Sen. Barack Obama, Remarks At
The Democrat National Convention, Denver, CO, 8/28/08)

But The Cost Of College Tuition Has Increased Under Obama

According To The College Board, The Cost Of Tuition, Fees, And Room And Board At A Four Year
Public College Has Gone Up By 25 Percent, Or $3,955, Under Obama, From $15,593 In The 20082009 School Year To $19,548 In The 2015-2016 School Year. (Trends In College Pricing 2015, The College Board,
11/04/15)

According To The College Board, The Cost Of Tuition, Fees, And Room And Board At A Four Year
Private College Has Gone Up By 20 Percent, Or $7,249, Under Obama, From $36,672 In The 20082009 School Year To $43,921 In The 2015-2016 School Year. (Trends In College Pricing 2015, The College Board,
11/04/15)

As A Result Of The Rising Cost Of College, The Amount Of Student Debt Americans Owe Has
Nearly Doubled Since January 2009
But Under Obamas Presidency Student Debt Has Nearly Doubled, Increasing By 93 Percent Or
$657 Billion. (Student Loans Owned And Securitized, Outstanding, Federal Reserve Bank Of St. Louis, Accessed 9/22/16)

In The First Quarter Of 2009, U.S. Student Debt Was $706 Billion, And In The Second
Quarter Of 2016 That Number Had Climbed To $1.363 Trillion. (Student Loans Owned And Securitized,
Outstanding, Federal Reserve Bank Of St. Louis, Accessed 9/22/16)

An Alternative Measure Of Student Debt By The Federal Reserve Says There Has Been A
$600 Billion Increase In Student Debt Under Obama, With $660 Billion Of U.S. Student Debt
In The First Quarter Of 2009 and $1.260 Trillion In The Second Quarter Of 2016. (Household
Debt And Credit Report, Federal Reserve Bank Of New Yorks Center For Microeconomic Data, Accessed 9/22/16)

The Average Student Loan Balance Has Increased By $9,626 Under Obama, From $20,467 In 2009
To $30,093 In The Second Quarter Of 2016. (Federal Student Loan Portfolio, U.S. Department Of Education, Accessed 8/4/16)
The Graduating Class Of 2016 Left School With An Average Debt Of Over $37,000, Breaking The
Record Set By The 2015 Class. About seven in 10 seniors set to graduate this spring borrowed for
their educations. Along with their diplomas, theyll carry an average $37,172 of student debt as they enter
the workforce, according to a new analysis by higher-education expert Mark Kantrowitz. That breaks the
record set by the 2015 class, which owed just over $35,000, on average. (Jeffrey Sparshott, Student Debt Is About to Set
Another Record, But the Picture Isnt All Bad, The Wall Street Journal, 5/2/16)

Marketwatch Headline: Congrats, Class Of 2016: Youre The Most Indebted Yet (Aimee Picchi,
Congrats, Class Of 2016: Youre The Most Indebted Yet, Marketwatch, 5/4/16)

A Pew Research Study Found That Student Debt Burdens Are Weighing On The Economic
Fortunes Of Younger Americans, As 37 Percent Of Households Under 40 Have Student Debt, The
Highest Share On Record. Student debt burdens are weighing on the economic fortunes of younger
Americans, as households headed by young adults owing student debt lag far behind their peers in terms
15

of wealth accumulation, according to a new Pew Research Center analysis of government data. About
four-in-ten U.S. households (37%) headed by an adult younger than 40 currently have some student
debtthe highest share on record, with the median outstanding student debt load standing at about
$13,000. (Richard Fry, Young Adults, Student Debt and Economic Well-Being, Pew Research, 5/14/16)
Student Debt Has Grown So Much It Is Now Second Only To Mortgage Debt On Family Balance
Sheets. Student loans are gobbling up a growing share of household debt. Borrowing for education
accounted for 10.2 percent of that debt at the end of 2015, about three times as much as in 2005. That
makes student loans second only to mortgage debt on family balance sheets, according to data from the
Federal Reserve Bank of New York. (Suzanne Woolley, Student Debt Is Eating Into The Household Budget, Bloomberg, 5/13/16)
College Tuition And Fees Rose 3 Percent For The 2015-2016 School Year, Despite The Lack Of
Inflation In The Wider Economy. College got more expensive again this fall, the College Board reported
today. Published tuition and fees rose about 3% from last year even though the government reports there
has been basically no inflation in the rest of the economy over the past 12 months. (Kim Clark, College Board Says
Tuition Rose Faster Than Inflation Again This Year, Time, 11/4/15)

SMALL BUSINESSES ARE STRUGGLING IN THE OBAMA ECONOMY

Business Creation Is Still Below Its Pre-Great Recession Levels
Business Formation Has Still Not Returned To Its Pre-Recession Peak, With The Level Of New
Businesses Created Annually Stagnating Around 400,000. To provide some context, consider that, by
one measure (the Business Dynamics St.atistics database compiled at the U.S. Census Bureau), new
formation of business firms finally rebounded slightly in 2011, after four years of decline from its peak of
more than 560,000 new businesses created in 2006 to a low point of fewer than 390,000 new firms
started in 2010.New business formation continued to inch upward for several more years (401,000 in
2011, 411,000 in 2012), before dropping slightly in 2013 to 406,000. (Tom Miller, Entrepreneurship & Economic
Dynamism: Marginal Return From Health Policy Thus Far, Ewing Marion Kauffman Foundation, 2016)

ObamaCare Raised Taxes On Small Businesses And Has Led To Higher Premiums For Small
Business Owners
ObamaCares Small Business Exchanges Have Failed To Provide Affordable Health Care To Small
Businesses And Their Employees. Obamacare's Small Business Health Options Program, or SHOP
exchanges, also failed to provide a broader range of affordable and attractive choices of insurance for
small businesses. The Congressional Budget Office originally projected that 2 million employees would
enroll in such coverage starting in 2014, with the number eventually leveling off at 4 million in 2017.
Although actual enrollment data has been hard to find, the best estimates are by GAO about 76,000
individuals in state-based SHOPs as of June 2014 and by the Centers for Medicare and Medicaid
Services approximately 85,000 Americans covered through all SHOP marketplaces as of May 2015. (Tom
Miller, Obamacares Small Business Bust, U.S. News & World Report, 3/3/16)

A November 2015 National Federation Of Independent Businesses Survey Found That 63 Percent
Of Small Businesses Providing Health Insurance Had Seen Premiums Increase In The Prior Year.
The survey found that Obamacare hasnt provided any relief for most small businesses in terms of health
insurance premium costs. In fact, 63 percent of offering small employers experienced an increase in their
employee premium cost between mid-2014 and mid-2015. (Press Release, NFIB Survey Finds Health Insurance Costs On The
Rise For Small Businesses, NFIB, 11/13/15)
ObamaCares Employer Mandate Fines Small Businesses With More Than 30 Employees $2,000 Or
$3,000 Per Worker That They Cannot Provide Coverage For. The employer mandate went into effect
16

in 2015, forcing employers with 100 or more full-time employees to provide health insurance to most of
their workers, and expanding to those with more than 50 employees beginning this year. Those that
cannot afford the costswhich average $12,591 per employee for family coverageface a tax penalty of
either $2,000 or $3,000 per employee after the first 30 employees. So as an example, an employer with
100 full-time employees who cant afford rising health-care costs could face over $100,000 in tax
penalties. (Nathan Nascimento, How Obamacare Just Made Filing Your Taxes Worse, Time, 4/5/16)
ObamaCare Created A New 0.9 Percent Medicare Surtax On Some Individuals, And Those Who Are
Self-Employed Such As Small Business Owners May Now Be Paying Up To 3.8 Percent Tax On
Income. A 0.9% surtax on Medicare taxes for those making $200,000 or more ($250,000 joint). You
already pay Medicare tax of 1.45%, and your employer pays another 1.45% for you (unless you're selfemployed, in which case you pay the whole 2.9% yourself). Next year, your Medicare bill will be 2.35%.
(Henry Blodget, Here Are The New Taxes You're Going To Pay To Pay For Obamacare..., Business Insider, 7/2/12)

A Number Of Small Businesses In The United States Pay Their Taxes At The Individual Level
Because Of Their Structure As Pass-Through Businesses. The United States currently has a
large number of pass-through businesses, or businesses that pay their taxes through the
individual income tax code rather than through the corporate code. These sole proprietorships, S
corporations, and partnerships make up the vast majority of businesses and more than 60 percent
of net business income in America. In addition, pass-through businesses account for more than
half of the private sector workforce and 37 percent of total private sector payroll. Pass-through
businesses are represented in all industries in the United States. (Kyle Pomerlau, An Overview Of Pass-Through
Businesses In The United States, Tax Foundation, 1/21/15)

ObamaCare Created A 3.8 Percent Medicare Surtax On Investment Income, Which Small
Businesses Owners Can Be Subject To. Before Obamacare, investment income was not subject to any
sort of Medicare tax. After Obamacare, all or part of your net investment income, including long-term
capital gains and dividends, can get socked with a 3.8% Medicare surtax (the so-called net investment
income tax). Therefore, the maximum federal rate on long-term gains and qualified dividends is actually
23.8% (20% for the regular capital gains tax plus 3.8% for the net investment income tax) versus the
advertised 20% maximum rate. (Bill Bischoff, Obamacare Tax Increases Are Now Locked In At Least Through 2016, Marketwatch,
6/25/16)

A Spokesman For The National Federation Of Independent Businesses Said That Since The
Passage Of The ACA, Small Businesses Have Seen Their Costs Rise, Their Compliance Burdens
Increase, And Their Flexibility Decrease. Since the passage of the ACA, small businesses have seen
their costs rise, their compliance burdens increase, and their flexibility decrease, says [NFIB Director of
legislative affairs Kevin] Kuhlman. The law itself has no single definition of the size of a small business.
For small business owners, the law has made purchasing insurance even more confusing and expensive.
(Press Release, Small Business Owner To Senators: Obamacare Has Hurt My Employees, NFIB, 5/18/16)

NFIB Press Release: Small Business Owner To Senators: Obamacare Has Hurt My
Employees (Press Release, Small Business Owner To Senators: Obamacare Has Hurt My Employees, NFIB, 5/18/16)

Kaiser Health News Phil Galewitz: Obamacares Promise That The Small Business Exchange
Would Make It Easier And Cheaper For Businesses To Provide Coverage Has Been Broken. The
Obama administration hoped SHOP would make it easier and cheaper for small employers to offer
coverage to employees and for their workers to have a choice of plans. Unlike the federal- and state-run
health insurance exchanges for individuals that limit sign-up to a certain period during the year, the
SHOP exchanges allow companies to enroll at any time. But several factors account for the paltry
enrollment in SHOP, say insurance brokers, insurers and state officials. (Phil Galewitz, Op-Ed, Small Businesses Snub
Obamacares SHOP Exchange, USA Today, 11/2/15)
17

Galewitz: Brokers Say SHOP Has Fewer Health Plans And More Expensive Coverage
Policies Than Can Be Purchased Outside The Exchange. Brokers say SHOP has fewer health
plans and more expensive coverage policies than can be purchased outside the exchange. Several
states only have one insurer on their SHOP exchange, including Alabama, Tennessee, North
Carolina and Nebraska, according to consulting firm Leavitt Partners. (Phil Galewitz, Op-Ed, Small Businesses
Snub Obamacares SHOP Exchange, USA Today, 11/2/15)

OBAMA HAS FAILED AMERICAN WORKERS ON TRADE

Last Year, The U.S. Had A $750 Billion Global Trade Deficit
According To The Census Bureau, In 2015 The U.S. Ran A $745.66 Billion Deficit In Trade In Goods
Globally. (U.S. Census Bureau, Accessed 6/27/16)

Under Obama, The Trade Deficit With China Has Increased By More Than 40 Percent
Between 2008 And 2015, The Annual U.S. Trade Deficit With China Increased By By $99 Billion Or
44 Percent. (Trade In Goods With China, U.S. Census Bureau, Accessed 8/5/16)

In 2015, The Annual U.S. Trade Deficit With China Was $367 Billion, Up From $268 Billion
In 2008. (Trade In Goods With China, U.S. Census Bureau, Accessed 8/5/16)

In The First Quarter Of 2016, The U.S. Trade Deficit Reached Its Highest Level In Seven Years
The U.S. Trade Deficit Jumped Nearly 10 Percent In The First Quarter Of 2016 To $124 Billion, Its
Highest Level In More Than Seven Years. The deficit in the nation's broadest measure of trade
increased in the January-March quarter to the highest level in more than seven years. The current
account trade deficit jumped 9.9 percent in the first quarter to $124.7 billion, the Commerce Department
reported Thursday. It was the biggest gap since a deficit of $152.5 billion in the fourth quarter of 2008,
the height of the financial crisis. (Martin Crutsinger, U.S. Current Account Trade Deficit At Highest Level In 7 Years, The Associated Press,
6/16/16)

The Trade Deficit Was 2.7 Percent Of GDP In The First Quarter Of 2016. The first quarter
deficit represented 2.7 percent of overall economic output, as measured by the gross domestic
product, up from 2.5 percent in the fourth quarter when the deficit totaled $113.4 billion. (Martin
Crutsinger, U.S. Current Account Trade Deficit At Highest Level In 7 Years, The Associated Press, 6/16/16)

OBAMA HAS ISSUED A FLOOD OF NEW REGULATIONS THAT ARE COSTING THE
ECONOMY HUNDREDS OF BILLIONS OF DOLLARS
Obama Has Issued 600 Major Regulations At A Cost Of $743 Billion
An August 2016 Analysis By The American Action Forum (AAF) Shows That The Obama
Administration Has Issued 600 Major Regulations, 20 Percent More Than The Previous President
Did In Eight Years. Now, the administration has once again reached another record-breaking figure:
600 major regulations in roughly 7.5 years, which is 20 percent more than the previous president did in
eight years. (Sam Batkins, 600 Major Regulations, American Action Forum, 8/6/16)
During President Obamas Tenure, The Nation Has Averaged Roughly 81 Major Rules Annually,
Or Roughly One Regulation Every Three Days The Federal Government Is Open. During President
Obamas tenure, the nation has averaged roughly 81 major rules annually. The federal government is
open approximately 250 days annually, so this equates to a major regulation every three days or nearly
two per week. (Sam Batkins, 600 Major Regulations, American Action Forum, 8/6/16)
18

Obamas 600 Major Regulations Come At A Cost of At Least $743 Billion. What is the economic
burden from these 600 major regulations? According to American Action Forum (AAF) research, based
on data provided by agencies, its at least $743 billion (including deregulatory measures) and 194 million
paperwork burden hours (President Bush issued roughly $2 billion in major rules in 2009). To put those
figures in perspective, $743 billion is larger than the Gross Domestic Product (GDP) of Norway and Israel
combined. (Sam Batkins, 600 Major Regulations, American Action Forum, 8/6/16)

To Date, The Administrations Major Rules Have Cost, On Average, $1.4 Billion. (Sam Batkins,
600 Major Regulations, American Action Forum, 8/6/16)

Obamas 600 Major Regulations Are A $2,294 Regulatory Imposition On Every Person In The
United States. It is a $2,294 regulatory imposition on every person in the United States. In the
equivalent amount of time to complete 194 million additional hours of paperwork, it would take 97,429
employees working full-time (2,000 hours a year) to comply with these new federal requirements. Thats
roughly the population of Albany, NY working full-time filling out government forms. (Sam Batkins, 600 Major
Regulations, American Action Forum, 8/6/16)
AAF Estimates That Obama Is On Pace To Issue 641 Major Regulations, But Could Easily Top
650 Major Rules By The Time The Next President Takes The Oath Of Office. Thus, conservatively,
President Obama is on pace to issue 641 major regulations (assuming 81 major rules in 2016). This figure
also discounts the generally active midnight period between Election Day and the following
Inauguration Day. President Clinton issued 19 notable regulations during his lame duck January and
President Bush issued 10 major rules. President Obama could easily top 650 major rules by the time the
next president takes the oath of office (31 percent more than his predecessor). (Sam Batkins, 600 Major
Regulations, American Action Forum, 8/6/16)

AAF Estimates The Final Cost Of Obamas Regulations Will Be $813 Billion. What will the
final tally be for major regulations? To date, the administrations major rules have cost, on
average, $1.4 billion. With the possibility of 50 more rules, the lame duck tally could push this
regulatory cost figure to $813 billion ($743 billion base plus $70 billion in future rules). Thats
more than the GDP of the Philippines, a country with 100 million people. (Sam Batkins, 600 Major
Regulations, American Action Forum, 8/6/16)

Obamas EPA Has Issues Hundreds Of Billions Of Dollars Worth Of Regulations

According To The American Action Forum, The Obama Administrations EPA Has Issued 170 EPA
Regulations At A Cost Of $313 Billion From 2009 To 2016. (Regulations Rodeo, American Action Forum, Accessed
9/26/16)

Obamas Anti-Coal EPA Regulations, Finalized In 2015, Will Raise Energy Costs And Kill Jobs
Based On EPA Data, The American Action Forum Estimated The Obama Administrations Finalized
Regulations On Carbon Emissions Would Close 66 Power Plants, Eliminate 125,800 Coal Jobs, And
Cut The Coal Industry In Half. The final rule for the Clean Power Plan (CPP) was released by the
Obama Administration this past August and is a direct attack on the coal industry. According to American
Action Forum (AAF) research, the final plan, supported by Sec. Clinton, will shutter 66 power plants and
eliminate 125,800 jobs in the coal industry. All of these figures are based on EPA data. The same study
shows that using the 2012 baseline for coal generation and projections for 2030 output, the industry
could shrink by 48 percent. (Kimberly VanWhye, Revitalizing Coal Communities: A $30 Billion Consolation Prize, American Action Forum,
11/13/15)

An Analysis By NERA Economic Consulting Projected That Obamas Carbon Regulations Will Cost
As Much As $292 Billion. NERA Economic Consulting has produced an analysis of the Clean Power Plan
19

(CPP) recently finalized by the Obama Administration, aimed at reducing carbon dioxide emissions from
new and existing power plants by 32 percent nationwide. NERAs calculates the CPP could add $29 billion
to $39 billion in costs to utilities or as much as $292 billion in added costs between 2022 and 2033,
exclusive of added transmission, distribution and natural gas infrastructure costs. (H. Sterling Burnett, Economic
Analysis of Clean Power Plan Shows High Cost, Minimal Benefits, The Heartland Institute, 12/2/15)

As A Result Of These Added Costs, Consumers In 40 States Could See Double-Digit

Electricity Price Increases, And 28 States Could Face Electricity Price Spikes Greater Than
20 Percent. (H. Sterling Burnett, Economic Analysis of Clean Power Plan Shows High Cost, Minimal Benefits, The Heartland Institute,
12/2/15)

Across The Nation, Electric Power Consumers Will Likely See Their Average Annual U.S.
Retail Electricity Rate Increase Rise Between 11% Per Year To 14% Per Year Between 2022
And 2033, Above What It Would Have Been Absent The CPP. (H. Sterling Burnett, Economic Analysis of Clean
Power Plan Shows High Cost, Minimal Benefits, The Heartland Institute, 12/2/15)

The U.S. Chamber Of Commerce Estimates That The New Carbon Regulations Will Cause Annual
Real Disposable Income To Decline More Than $200 Per Year, Totaling A Loss Of $3,400 By 2030.
Slower economic growth, job losses, and higher energy costs mean that annual real disposable
household income will decline on an average of more than $200, with a peak loss of $367 in 2025. In fact,
the typical household could lose a total of $3,400 in real disposable income during the modeled 2014-30
timeframe. (Assessing The Impact Of Potential New Carbon Regulations In The United States, Institute For 21st Century Energy, 5/28/14)
As A Result Of These Regulations, The U.S. Chamber Of Commerce Estimates That From 2014 To
2030, On Average, The U.S. Economy Will Have 224,000 Fewer Jobs With A Peak Decline In
Employment Of 442,000 Jobs. On average, from 2014 to 2030, the U.S. economy will have 224,000
fewer jobs (Table ES-3), with a peak decline in employment of 442,000 jobs in 2022 (Figure ES-1). These
job losses represent lost opportunities and income for hundreds of thousands of people that can never be
recovered. (Assessing The Impact Of Potential New Carbon Regulations In The United States, Institute For 21st Century Energy, 5/28/14)

The Obama EPAs New Ozone Rules Will Cost Over $1 Billion Annually
Using The EPAs Own Estimates, Obamas 2015 Ozone Rules Will Cost The U.S. Economy $1.4
Billion Annually. After years of acrimonious fights between industry, states, environmentalists, and the
administration, EPA has issued final ozone standards. The revised measure lowers the current threshold
from 75 parts per billion (ppb) to 70 ppb. Environmentalists had called for a figure as low as 60, which
would have cost up to $39 billion. Todays final rule will impose just $1.4 billion in annual costs,
exclusive of California. (Final Ozone Rule, American Action Forum, 10/2/15)

The Obama EPAs Waters Of The United States Rule Will Cost Nearly $500 Million Annually
An Analysis From The American Action Forum Estimates The 2015 Waters Of The United States
Rule Will Cost The Economy $462.9 Million Every Year. (Final WOTUS Rule, American Action Forum, 5/28/16)

POLLS SHOW THAT AMERICANS DO NOT FEEL CONFIDENT IN THE OBAMA

ECONOMY
Under Obamas Economic Policies, Americans Attitudes About The Economy Continue To
Worsen
According To An October 2016 Rasmussen Poll, 63 Percent Of Americans Think The Country Is On
The Wrong Track. (Rasmussen, 2500 LV, 2.0% MoE, 10/23-27/16)
20

According To An October 2016 Gallup Poll, 57 Percent Of Americans Believe The U.S. Economy Is
Getting Worse. (Gallup, 3,540 A, 2.0% MoE, 10/17-23/16)

The Gallup Survey U.S. Economic Confidence Rating Is Currently -11. (Gallup Daily: U.S. Economic
Confidence Index, Gallup, Accessed 11/3/16)

October 2016 Gallup Headline: Americans Continue To Cite The Economy As Top Problem (Zac
Auter, Americans Continue To Cite The Economy As Top Problem, Gallup, 10/14/16)
A July 2016 AP-GfK Poll Found That 51 Percent Of Americans Disapprove Of The Way Obama Is
Handling The Economy. (AP-GfK, 1,009 A, 3.3% MoE, 7/7-11/16)

In July, 59 Percent Of Americans Rated The Economy As Being Poor. (AP-GfK, 1,009 A, 3.3% MoE, 7/711/16)

A May Marketplace-Edison Research Poll Found That 71 Percent Of Americans Think The U.S.
Economic System Is Rigged In Favor Of Certain Groups. Seventy-one percent think the U.S.
economic system is rigged in favor of certain groups, according to a new poll by Marketplace and Edison
Research. (Heather Long, 71% Of Americans Believe Economy Is Rigged, CNN, 6/28/16)
The Hill Headline: Poll: Economy Is Most Serious Problem Facing America (Mark Hensch, Poll: Economy Is
Most Serious Problem Facing America, The Hill, 3/10/16)
A Majority Of Americans Still Feel The U.S. Economy Remains In Recession. Other polls have found
that a majority of Americans even think the economy remains in recession, even though the Great
Recession officially ended in June 2009. (Christopher S. Rugaber, AP Survey: Voter Anexity At Odds With Economists Optimism, The
Associated Press, 3/1/16)

DESPITE THE FACTS, CLINTON HAS REPEATEDLY PRAISED OBAMA ON THE

ECONOMY, CLAIMING HE DESERVES AN A FOR HIS ECONOMIC POLICIES
In October 2015, Clinton Gave The Obama Administration An A For Its Overall Performance,
Including The Clinton-Obama Economy. CLINTON: Id give him an A. I dont think he gets the credit
he deserves for saving our economy from falling into a great depression, for saving the auto industry
which represents millions of jobs up and down the supply chain, for beginning the crackdown on Wall
Street abuses with Dodd-Frank, for getting the Affordable Care Act passed, for really being as responsive
as he could possibly be given the obstructionism that he faced with the Republicans in Congress. (Hillary
Clinton, Remarks In An Interview With The Boston Globe, Keene, NH, 10/17/15)

21

Click To Watch
At The Democrat National Convention, Hillary Clinton Said That Obama Does Not Get The Credit
He Deserves For His Economic Policies, Saying Our Economy Is So Much Stronger Than When He
Took Office. But, even more important than the history we make tonight, is the history we will write
together in the years ahead. Lets begin with what we're going to do to help working people in our
country get ahead and stay ahead. Now, I dont think President Obama and Vice President Biden get the
credit they deserve for saving us from the worst economic crisis of our lifetimes. Our economy is so much
stronger than when they took office. (Hillary Clinton, Remarks At The Democrat National Convention, Philadelphia, PA, 7/28/16)

Click To Watch
In May 2015, Clinton Said The U.S. Economy Was Now Out Of The Ditch. CLINTON: People have
really stepped up and worked hard. American families have made a lot of sacrifices. Theyve postponed
making decisions. Some of them have lost jobs and houses that theyve had to rebound from. So we are
now, in my view, out of the ditch that we were thrown into with the great recession. We are standing up,
and now weve got to start running again. (Hillary Clinton, Remarks At A Campaign Event, Hampton, NH, 5/22/15)
22

In May 2015, Clinton Said The Economy Is In Much Better Shape Today. CLINTON: But I want to
begin by just saying a few words about whats happening more broadly with the American economy and
with American families. Because Ive always believed fundamentally that when our families are strong,
our country is strong. And weve come back from very tough economic times. I dont need to tell
anybody here that. Our economy and our country are in much better shape today, and in large measure
because families worked so hard. (Hillary Clinton, Remarks At A Campaign Round Table, Cedar Falls, IA, 5/19/15)
In September 2014, Clinton Said President Obama Has Put Our Country On The Road To
Recovery. CLINTON: One of the reasons this election is so important is because in Washington, there is
too little cooperation and too much conflict and when it comes to moving America forward, we know
what it takes. Weve seen it. Weve seen it in Tom Harkin. Weve seen it in Bill Clinton and weve seen it in
Barack Obama. Under President Obamas leadership, our country is on the road to recovery. (Hillary Clinton,
Remarks At Harkin Steak Fry , Indianola, IA, 7/14/14)

In October 2010, Clinton Praised The Extraordinary Leadership By The President And The
Economic Team CLINTON: Now since then, weve demonstrated through what I think is
extraordinary leadership by the President and the economic team how we can navigate through such a
difficult crisis. (Secretary Hillary Clinton, Remarks At The 12th Annual Fortune Most Powerful Women Summit, Washington, DC, 10/6/10)

But Sometimes The Clintons Tell The Truth: The Obama Economy Is A Sorry One
In June 2016, Clinton Outlined The Failures Of The Obama Economy, Talking About Americans
Working Longer Hours, Rising Costs, Higher Inequality, And Fewer Jobs. CLINTON: So we know
people are working harder and longer, just to keep their heads above water. And to deal with the costs,
the everyday costs, the costs of basics like child care and prescription drugs that are too high. College is
getting more expensive every day, and wages are still too low. And inequality is too great. Good jobs in
many parts of our country are still too hard to come by. (Hillary Clinton, Remarks At A Campaign Event, Columbus, OH, 6/21/16)

Click To Watch
In June 2015, Clinton Cited The Fact That The Unemployment Rate Now Among Black Americans
Is Twice As High As Among Whites Under Obama CLINTON: We need to reverse the long term
neglect that has dried up jobs and opportunity in communities of color and in poor communities. It's not
23

by accident that the unemployment rate now among black Americans is twice as high as among whites.
(Hillary Clinton, Remarks At A Campaign Event, Raleigh, NC, 06/22/16)

Click To Watch
At A March 2016 Campaign Rally, Bill Clinton Slammed Obamas Time In Office, Saying Weve
Finally Come To The Point Where We Can Put The Awful Legacy Of The Last Eight Years Behind
Us. BILL CLINTON: I literally from the time I met her 45 years ago until we talked yesterday, she is the
best change maker I have ever known. She always finds a way to make something good happen, to make
people feel empowered, to buy people into the process, to make democracy work the way the framers
intended for it to work. Now if you dont believe we can all grow together again, if you dont believe were
ever going to grow again, if you believe its more important to re-litigate the past, there may be many
reasons that you dont want to support her. But if you believe we can all rise together, if you believe weve
finally come to the point where we can put the awful legacy of the last eight years behind us and the
seven years before that where we were practicing trickle-down economics with no regulation in
Washington, which is what caused the crash, then you should vote for her. Because shes the only person
who basically has good ideas, will tell you how shes going to pay for them, can be commander-in-chief,
and is a proven change maker with republicans and democrats and independents alike. (Bill Clinton, Remarks,
Spokane, WA, 3/21/16)

Click To Watch
24

In March, Bill Clinton Trashed Obamas Beautiful Picture Of Economy, Saying Millions Of
Americans Cant Look At That Picture And Find Themselves And Their Families In it To Save Their
Lives. BILL CLINTON: Why is there so much intensity and anger and confusion and anxiety? Because
that beautiful picture of the future the President painted? Millions of Americans cant look at that picture
and find themselves and their families in it to saves their lives. (Former President Bill Clinton, Remarks At A Campaign Event,
St. Louis, MO, 3/8/16)

Click To Watch
Bill Clinton: Most Cant Find Themselves In Obamas Pretty Picture Of The Economy. BILL
CLINTON: So, you got a lot of people that say, oh thats a really pretty picture Mr. President and I know
youre telling the truth, and he is, but right now I cant find myself in it. Hillary is running for president so
that every single person in this country can find themselves in that picture for the future. (Former President Bill
Clinton, Remarks At A Campaign Event, St. Louis, MO, 3/8/16)

Click To Watch
In 2015, Clinton Said It Turns Out That We Are Not Producing As Many Small Businesses As We
Used To. CLINTON: My perspective. I want to be sure that we get small businesses started and growing
in America again. We have stalled out. I was very surprised to see that when I began to dig into it. As
people were telling me this as I traveled around the country the last two years, but I didnt know what
25

they were saying and it turns out that we are not producing as many small businesses as we use to. And a
recent world study said that we are forty-sixth in the world in the difficulty to start a small business.
There are lots of issues and we will get into those I hope Dave and the rest of you as well. (Hillary Clinton,
Remarks At A Roundtable, Keene, NH, 4/20/15)

Click To Watch
In 2015, Clinton Said Many Workers Were Being Forced Into Part-Time Work Because Of
Obamacare. QUESTIONER: Hi, I just want to know why there is discrimination against the part-time
workers when so many companies are going to part-time when it comes to FMLA? CLINTON: Well,
thats why they are going to part-time. That, and also, the Affordable Care Act. You know, we got to
change that because we have built in some unfortunate incentives that discourage full-time employment.
A lot of employers believe if you dont work 40-hours a week you dont get benefits and that includes; you
dont get health care benefits; that might include youre not eligible for the family medical leave; youre
not eligible for paid sick days. So, there is a disincentive in our system that we need to deal with and I
really worry about it because there is trend to try and move more and more people into part-time work;
and how many of you are part-time workers? And sometimes you want to work part-time, it fits into your
family, it fits into your life obligations but sometimes you want to work full-time but you cant get a fulltime job. So, I want to look at all the employment rules. (Hillary Clinton, Remarks At A Campaign Event, Iowa City, IA, 12/16/15)

26


Click To Watch

27