Democrats and their chief executive deceiver kept a dark secret hidden from the American public throughout the election cycle.
Leftists wouldn’t reveal the truth, and President Obama looked the American people in the eye and lied to them.
Despite all his talk of how great everything is, the country has been decaying under his leadership.
A new report on the economy reveals productivity growth is at a 50-year low. Positive talk about the nation’s financial situation in the last election, much of it coming from the administration, was a lie.
The report, entitled No Recovery — An Analysis of Long-Term U.S. Productivity Decline, is from the US Council on Competitiveness and Gallup. It finds that for many the economy is in reverse despite claims there is an ongoing economic recovery, complete with new jobs.
“Conventional wisdom – as reported in many major newspapers and media – tells us the US economy is ‘recovering.’ The study finds there is no recovery. Since 2007, US GDP per capita growth has been 1,” according to Gallup chairman Jim Clifton.
Council President Deborah Wince-Smith stated possible dire consequences.
As this report makes clear, productivity growth is in a serious multi-decade-long slump that is dangerously close to stalling completely.
Just one example: Wages peaked 17 years ago, in 1999.
Other highlights from the report:
— The problem is severe. Since 1980, US GDP per capita growth has been far below its long run average, and since 2007 it has been almost negligible.
— Deterioration in the quality-to-cost ratio for healthcare, housing and education is dragging down economic growth. After spiraling price increases, these sectors accounted for 36 percent of total national spending in 2015, up from 25 percent in 1980.
— The US population’s health has stagnated or even declined on several measures since 1980, especially for the working-age population.
— Housing costs have swallowed up a larger share of income without a corresponding increase in quality.
— Educational quality is weak and stagnant at all levels. The US education system has failed to instill any measurable gains in the cognitive performance of children and young adults for decades, as US students and adults struggle with poor rates of literacy and numeracy despite high spending growth.
The underlying truth is the country is in failing shape while Obama and Democrats sang a song of prosperity and improvement. It was a lie.
This is Obama’s legacy, a walking, talking lie. With a new president in place that has no problem telling the truth, the legacy of fabrication will be replaced as America becomes great again.
h/t: Washington Examiner