Barak Hussein Obama won the 2008 presidential election and took office January 20, 2009. The recession he inherited has gotten worse. By fudging the numbers regarding unemployment, jobs lost, and new jobs created, his administration has avoided calling it a depression, but it IS a depression.
Most of the jobs lost have been in manufacturing, distribution, and services. Most of the new jobs created have been government jobs which add nothing to the GDP, they are expenses in the federal budget. As to the unemployment numbers, they only count those currently receiving unemployment insurance payments. They omit those whose coverage has expired. Those people may have found new jobs or created their own business (as I have), but few are earning what they earned before losing their previous jobs.
Personally, I'm earning about a third of what I was earning in 2005. I've scaled down from a 6 bedroom house to a 1 bedroom motorhome and moved from high cost Reno, Nevada, to much lower cost San Benito, Texas.
Until I get my online business producing sufficient cash flow on a consistent basis to upgrade to my more mobile lifestyle, I'm content with my laid-back, small-carbon-footprint, motionless lifestyle. I do miss my mountains and four seasons though.
Meanwhile our illustrious "leaders" at the federal and state capitols continue to spend, borrow, and spend some more. With bailouts of the banking, mortgage, and auto industries and more easy credit programs with low interest mortgages designed to put foreclosure "victims" back in houses they can't afford.
The federal deficit now stands at $13.4 Trillion mostly owed to the Federal Reserve Banking System.
Joy and abundance,
Cory Layne
San Benito, Texas, America
Joy and abundance,
Cory Layne
San Benito, Texas, America
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