11 Very Depressing Economic Realities Trump Will Inherit From Obama

11 Very Depressing Economic Realities Trump Will Inherit From Obama | Donald-Trump-And-Barack-Obama-Talking-In-The-Oval-Office-Public-Domain | Economy & Business Obama Exposed Trump

It would be a grave mistake to understate the amount of damage that has been done to the U.S. economy over the past eight years.  In this article, I am going to share some economic numbers with you that are extremely sobering.  Anyone that takes a cold, hard, honest look at the numbers should be able to see that our economy is in terrible shape.  Unfortunately, the way that we see things is often clouded by our political views.  Up until the election, Democrats were far more likely then Republicans to believe that the economy was improving, but now that is in the process of completely reversing.  According to Gallup, only 16 percent of Republicans believed that the economy was getting better before the election, but that number has suddenly jumped to 49 percent after Trump’s election victory.  And the percentage of Democrats that believe that the economy is getting better fell from 61 percent to 46 percent after the election.  Here are some additional details from Gallup

After Trump won last week’s election, Republicans and Republican-leaning independents now have a much more optimistic view of the U.S. economy’s outlook than they did before the election. Just 16% of Republicans said the economy was getting better in the week before the election, while 81% said it was getting worse. Since the election, 49% say it is getting better and 44% worse.

Conversely, Democrats and Democratic-leaning independents’ confidence in the economy plummeted after the election. Before the election, 61% of Democrats said the economy was getting better and 35% worse. Now, Democrats are evenly divided, with 46% saying it is getting better and 47% saying it is getting worse.

The truth, of course, is that the result of the election did not somehow magically alter the outlook for the U.S. economy.

We still have a giant mess on our hands, and the following are 11 very depressing economic realities that Donald Trump will inherit from Barack Obama…

#1 Nearly 7 out of every 10 Americans have less than $1,000 in savings.  That means that about two-thirds of the country is essentially living paycheck to paycheck at this moment.

#2 Reuters is reporting that U.S. mall investors are poised to lose “billions” of dollars as the “retail apocalypse” in this nation deepens.

#3 Credit card delinquencies have hit the highest level that we have seen since 2012.

#4 Approximately 35 percent of all Americans have a debt that is at least 180 days past due.

#5 The rate of homeownership has fallen for eight years in a row and is now hovering near a 50 year low.

#6 The total number of government employees now outnumbers the total number of manufacturing employees in this country by almost 10 million.

#7 The number of homeless people in New York City (where Donald Trump is from) has hit a brand new record high.

#8 About 20 percent of all young adults are currently living with their parents.

#9 Total household debt in the United States has now reached a grand total of 12.3 trillion dollars.

#10 The total amount of corporate debt in the U.S. has nearly doubled since the end of 2007.

#11 When Barack Obama entered the White House, the U.S. government was 10.6 trillion dollars in debt.  Today, the U.S. national debt is currently sitting at a staggering total of $19,842,173,949,869.58.

Despite nearly doubling the national debt during his eight years in the White House, Barack Obama is going to be the only president in United States history to never have a single year when U.S. GDP grew by at least three percent.

So will Donald Trump waltz in and suddenly turn everything around?

Just like when George W. Bush was elected, there is a lot of optimism about the future right now among Republicans.

And in 2017, Republicans are going to have control of the Senate and the House in addition to being in control of the White House.

But does that mean that they will actually get anything done?

For a moment, let’s review what didn’t happen the last time the Republicans were in this position.  The following is an extended excerpt from an article by author Devvy Kidd

—–

The Republicans had control of both houses of Congress part of the time during Bush, Jr.’s two terms. Did they lock down our borders? NO.

Did they pass legislation to stop ALL funding for illegals which would self-deport millions of liars, cheats and thieves? NO. (READ, please: How to Self-Deport Millions of Illegals)

Did they stop trillions in unconstitutional spending? NO.

Did they get rid of any of Clinton’s unconstitutional Executive Orders? One or two but otherwise let Comrade Bill Clinton crap in our faces.

Did they get rid of one unconstitutional cabinet like HHS, Department of Education and EPA? NO.

Did they stop the unconstitutional foreign aid? NO.

Did they stop unconstitutional spending for Planned Parenthood? NO. Congress just continues to use borrowed money to spend more debt.

Did they stop unconstitutional spending for the gigantic hoax called global warming or climate change? NO. Trump: The Left Just Lost The War On Climate Change

Did Bush, Jr., get us out of all the destructive trade treaties killing American jobs? NO.

Did they crack down on visas bringing in tens of thousands of foreign workers when American workers who want to work are left in the unemployment line? NO.

Did they stop more and more federal regulations strangling America’s businesses? NO.

Did they impeach one single activist judge destroying our freedom and liberty? NO.

A Republican controlled Congress with a Republican in the White House and they did virtually NOTHING to restore America to a constitutional republic and constitutional spending.

—–

So will things be any different under a Trump administration?

We shall see.

There will be tremendous pressure to maintain the status quo in many instances, because the process of fixing things would undoubtedly make conditions worse in the short-term.

A great example of this is the national debt.  As I discussed yesterday, the only reason why we are able to enjoy such a massively inflated standard of living in this country is because we have been able to borrow trillions upon trillions of dollars from the rest of the world at ultra-low interest rates.

If the federal government started spending only the money that it brought in through taxes, our ridiculous debt-fueled standard of living would begin collapsing immediately.

We consume far more wealth than we produce, and the only way that we are able to do this is by borrowing insane amounts of money.

Either Donald Trump will continue to borrow money recklessly, or we will go into a major league economic downturn.

It really is that simple.

But when our politicians borrow money, they are literally destroying the future of this country.  So the choice is pain in the short-term or greater pain in the long-term.

There is a way out, and that would involve shutting down the Federal Reserve and going to a completely debt-free form of money, but that is a topic for another article.

And unfortunately that is not something that is even on Donald Trump’s radar at this point.

No matter who won the election, the next president was going to be faced with some very harsh economic realities.

There are many out there that have faith that Donald Trump can pull off an unprecedented economic miracle, but there are others that are deeply skeptical.

Let us hope for the best, but let us also keep preparing for the worst.

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About The Author

Michael T. Snyder is a graduate of the McIntire School of Commerce at the University of Virginia and has a law degree and an LLM from the University of Florida Law School. He is an attorney that has worked for some of the largest and most prominent law firms in Washington D.C. and who now spends his time researching and writing and trying to wake the American people up. You can follow his work on The Economic Collapse blog, The Most Important News, End of the American Dream and The Truth Wins. His new novel entitled “The Beginning Of The End” is now available on Amazon.com.

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    • BruceW

      Say what you want, in reality we have not had a “republican” in the white house since Ronald Reagan. Jr. Bush was mostly a “republican in name only”. He believed in open boarders, expanding the national debt, and dumbing down our youth in school.
      I do not believe Donald Trump believes in any of these things.

      • SeanM62

        “… expanding the national debt, and dumbing down our youth in school.” are classic Republican policies.

        • BruceW

          Sir, you have your head so far up your azz you wouldn’t know what sun shine and fresh air is. Dumbing down our kids is an exclusive right to dumazz liberal like yourself, example “Common Core”. As for expanding the Nation Debt wow. under the stupid globalists now in our White House, dickwad obama has double the National Debt in a mere 7 1/2 years. Where do you moron liberals get your “facts”? Is there a dumb$hit liberal blog you are keeping to yourself?

          • SeanM62

            Common Core is no dumbing down of education. It was never a federal program but a cooperative effort of teachers throughout the country.

            When George Bush took office we had over $4 billion dollars in “the bank.” When George Bush left office we had debts of $7 billion because of his tax cuts to the wealthy and an unnecessary war in Iraq.

            We live on planet earth. You must live on Uranus.

            • BruceW

              Common Core is a liberal fantasy of the far left mentality. It is a moronic program that replaces real “learning” with fantasy,
              You forgot the finish the real “budget” story. As a deceitful liberal you probably did so intentionally. When the progress nutjob obama took office we had a 7 Billion dollar deficit. Now obama has increased the nation debt to 12 TRILLION. Not billion TRILLION. You don’t inhabit planet earth you live under a fcuking rock!

    • kajohns55

      As for the corporate debt,the buyback craze has caused that. Not any US president.

    • Alleged Comment

      Yes, whenever the adults take over (as someone said) they have to clean up the mess (Negroes, women, Demoncraps, lieberals) make whenever mommy and daddy are gone.

    • SeanM62

      No – these are largely the result of an obstructionist Republican Congress which ensured economic failure for a Democratic president. Republicans are not the answer. Republicans are the problem. Bush’s Great Recession and the economic failures of Kansas and Louisiana predict disaster as Republicans finish the job of destroying the US and the World economies.

      • BruceW

        your are an incredibly stupid individual! If you like your Doctor you can keep your doctor

        • SeanM62

          “Obamacare” was originally conceived by the conservative Heritage Foundation as an alternative to a Clinton-era health plan that got nowhere. Then it was rewritten by health insurance companies and passed in pretty much that form. What the country really needs is universal Medicare, like every other industrialized country in the world. In 2012 about 44,800 people died in this country for lack of insurance, thus adequate medical care.

          Apparently that’s OK with conservatives who are acting out of selfishness and in direct contradiction to the teachings of Jesus.

          • BruceW

            If I had known you were in discussions with jesus about our national problems I would have given you more credit than I have.
            No where in the world does nation health care work, work to give quality medicine to patients at a reasonable cost in a timely fashion. Why are wealth Canadians seeking medical attention in America. Because their “free” health care doesn’t work. Canada’s it one of the best ‘free” one out there.
            You stupid liberals amaze me in what you think are fact, geez

            • SeanM62

              I’ve read the four Gospels. I know what Jesus said, according to the Gospels. You could learn a lot from reading them, too. While you are at it, read the next book, Acts of the Apostles, which was the first book of the New Testament written; especially chapters 4 and 5 which are the basis of Joseph Smith’s and Brigham Young’s United Order as well as Marx’s inspiration for communism.

              Do you have personal information concerning national health services in other countries? I do.

              My family and I lived in England for 2 years, not consecutively, and participated in the National Health Service both times. When our daughter was extremely ill with Chicken pox a doctor drove to our house on a Sunday afternoon to treat her. Not here! We were more satisfied with the NHS than our system.

              My daughter-in-law is Canadian. Her family back home would NEVER trade the Canadian health system for your guns, as they say in Canada.

              Maternal mortality in the US is behind 43 other countries according to CIA data. Infant mortality is WAY greater than Cuba and dozens of other countries. We are the only industrialized country in which life expectancy at birth is FALLING!! We are number 1 in only one category – cost of medical attention. The whole system is a SCAM. And you love it. Enjoy paying first class money for really second class outcomes. Its the American way. Our exceptionalism showing through.

            • BruceW

              Sir I wish not to discuss these types of issues with you any longer. I feel ashamed taking advantage of a metal cripple such as yourself.
              In order to make it up to I wish to send you a $50 voucher for a 1 way ticket to any county of your choosing.
              Please let me know where to send it and specify how soon you can leave America.

            • SeanM62

              No real answer to my points? Thanks for ceding the argument. Some of my family have been Americans for 15,000+ years, so I’ll just stay. Hang on to your $50 and have a few beers to drown your sorrows the conservative way. I will pray for you.

            • BruceW

              Can’t resist one last comment. I have addressed everyone of your so called “points” you are irrelevant as are your half baked truths. don’t bother praying for me my prayers were answered when Trump was elected President. Your prayers for hillary to be elected were not answered. By the by, liberals only profess to be believers when it suits them/you.
              This is one nation under God. God spoke on November 8, 2016, you were not listening. Stop using God as an excuse for your miserable life and insane beliefs. You are a liberal after all.

    • 3CatLady

      in Peru. He maintained that his policies created 110,000 jobs due to his trade which has made our economy rise. What world is this guy living in? Same as the other Demorats that think all is well. It is very interesting that the stock market has gone sky high since Trump has been named the president elect This is the hope and change Americans have been waiting for.

    • sue lenhart

      A very sobering (and believable) list . . . however, we have to remember, during previous administrations, a professional politician was in office. Our incoming POTUS, Mr. Donald Trump, is not a professional politician, nor does he want to be one. Not only that, but he roundly criticized BOTH parties during his campaign. We also have to remember that we saw the highest participation rate in an election in recent memory by American citizens (more of them registered to vote and/or voted during this election). American citizens have also taken it upon themselves, generally speaking, to become informed about what their elected representatives are doing in Washington DC. If these trends continue (which they must), there will be more transparency and more responsibility to the American citizens than we have had in decades. Note to Americans: continue your vigilance! This fight will not be over for a long time, nor should it be. Praise God for what He has done, and continue the fight!