26 Incredible Facts About The Economy That Every American Should Know Before The Trump-Clinton Debate

Tyler Durden's picture

Submitted by Michael Snyder via The Economic Collapse blog,

Are you ready for the most anticipated presidential debate in decades?  It is being projected that Monday’s debate between Donald Trump and Hillary Clinton could potentially break the all-time record of 80 million viewers that watched Ronald Reagan and Jimmy Carter debate back in 1980.  Many Americans probably hope to see some personal fireworks between the two nominees, but the two candidates have both expressed a desire to focus on substantive issues.  There will likely be quite a few questions about the economy, and without a doubt this is an area where Trump and Clinton have some very sharp differences The mainstream media would have us believe that the U.S. economy is in pretty good shape, and if that was true that would seem to favor Clinton.  But is it actually true?  The following are 26 incredible facts about the economy that every American should know for the Trump-Clinton debate…

#1 When Barack Obama entered the White House, the U.S. government was 10.6 trillion dollars in debt.  Today, the U.S. government is 19.5 trillion dollars in debt, and Obama still has several months to go until the end of his second term.  That means that an average of more than 1.1 trillion dollars will be added to the national debt during his presidency.  We are stealing a tremendous amount of consumption from the future to make the economy look much, much better than it otherwise would be, and we are systematically destroying the future in the process.

#2 As Obama prepares to leave office, the rate at which we are adding to the national debt is actually increasing.  During the fiscal year that is just ending, the U.S. government has added another 1.36 trillion dollars to the national debt.

#3 It isn’t just the federal government that is on a massive debt binge.  Total U.S. corporate debt has nearly doubled since the end of 2007.

#4 Default rates on U.S. corporate debt are the highest that they have been since the last financial crisis.

#5 Corporate profits have fallen for five quarters in a row, and it is being projected that it will be six in a row once the final numbers for the third quarter come in.

#6 During the month of August, commercial bankruptcy filings were up 29 percent compared to the same period a year ago.

#7 The rate of new business formation in the United States dropped dramatically during the last recession and has hovered at that new lower level ever since.

#8 The Wall Street Journal says that this is the weakest “economic recovery” since 1949.

#9 Barack Obama is on track to be the only president in all of U.S. history to never have a single year when the U.S. economy grew by at least 3 percent.

#10 In August, the Cass Freight Index dipped to the lowest level that we have seen for that month since 2010.  What this means is that the total amount of stuff being shipped around the country by air, by rail and by truck is really dropping, and this is a clear sign that real economic activity is slowing down in a major way.

#11 Capital expenditure growth has turned negative, and history has shown that this is almost always followed by a new recession.

#12 The percentage of Americans with a full-time job has been sitting at about 48 percent since 2010.  You have to go back to 1983 to find a time when full-time employment in this country was so low.

#13 The labor force participation rate peaked back in 1997 and has been steadily falling ever since.

#14 The “inactivity rate” for men in their prime working years is actually higher today than it was during the last recession.

#15 The United States has lost more than five million manufacturing jobs since the year 2000 even though our population has become much larger over that time frame.

#16 If you can believe it, the total number of government employees now outnumbers the total number of manufacturing employees in the United States by almost 10 million.

#17 One study found that median incomes have fallen in more than 80 percent of the major metropolitan areas in this country since the year 2000.

#18 According to the Social Security Administration, 51 percent of all American workers make less than $30,000 a year.

#19 The rate of homeownership in the U.S. has fallen every single year while Barack Obama has been in the White House.

#20 Approximately one out of every five young adults are currently living with their parents.

#21 The auto loan debt bubble recently surpassed the one trillion dollar mark for the first time ever.

#22 Auto loan delinquencies are at the highest level that we have seen since the last recession.

#23 In 1971, 61 percent of all Americans were considered to be “middle class”, but now middle class Americans have actually become a minority in this nation.

#24 One recent survey discovered that 62 percent of all Americans have less than $1,000 in savings.

#25 According to the Federal Reserve, 47 percent of all Americans could not even pay an unexpected $400 emergency room bill without borrowing the money from somewhere or selling something.

#26 The number of New Yorkers sleeping in homeless shelters just set a brand new record high, and the number of families permanently living in homeless shelters is up a whopping 60 percent over the past five years.

Despite all of the facts that you just read, the truth is that there is one particular group of people that have been doing quite well during the Obama years.  I really like how Charles Hugh Smith made this point in one of his recent articles

The top 5% of households that dominate government, Corporate America, finance, the Deep State and the media have been doing extraordinarily well during the past eight years of stock market bubble (oops, I mean boom) and “recovery,” and so they report that the economy is doing splendidly because they’ve done splendidly.

By recklessly creating money out of thin air and pumping it into the financial markets, the Federal Reserve has greatly enriched the elite, but they have also dramatically increased the gap between the very wealthy and the rest of us.  Since he has been in the White House during this time, Barack Obama has gotten the credit for this temporary stock market bubble, and most of the elite love Obama anyway.

But in the process the stage has been set for the greatest economic and financial implosion in U.S. history, and the pain that is coming is going to affect every man, woman and child in this country.

During the debate, Trump and Clinton will talk a lot about tinkering with tax rates and regulations, but those measures are essentially going to be meaningless when compared to the massive economic tsunami that is coming.  The next president is going to inherit the biggest economic problems that this nation has ever faced, and it is going to take a miracle of Biblical proportions to turn the U.S. economy in the right direction.

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VinceFostersGhost's picture

 

 

I think Trump here.

 

Yeah.....definitely Trump.

 

Not sure shat chance he has against Diebold......but yeah.....definitely Trump.

MillionDollarBonus_'s picture

Under Obama, we have experienced an unprecedented recovery from the brink of financial destruction in 2008. Since Obama took office, the S&P 500 has risen from 680 in 2009, to an incredible high of 2190 in 2016! This kind of economic success is unparalleled in US history, which is testament to the Obama administration's exceptional economic management. The question is, who is more able to continue Obama's legacy, and take our economy to the next level? The answer is obviously Hillary Clinton, as besides being a democrat, she shares most of the economic policies of Obama. She also supports the TPP and importation of hardworking migrants, which according to top economists will boost the economy by billions of dollars. From an economic perspective, therefore, the choice is pretty obvious - vote Hillary if you want a stronger economy, more jobs and a brighter future for our children.

Millennials – Who Are They And What Do They Want?

VinceFostersGhost's picture

 

 

Under Obama, we have experienced an unprecedented recovery

 

Damn.....you're good!

Took Red Pill's picture

I knew this was a Michael Snyder article before I even clicked on it! Who else gives us so many numbered lists?

MillionDollarBonus_'s picture

The economy aside, I think the key issues tonight are going to be Trump's insensitive comments about minorities and women, his ignorance of our foreign policy objectives, concerns about his collusion with Russia, and his engagement in conspiracy theories. Expect Hillary and the moderators to relentlessly grill Trump about these controversies. I expect Hillary to receive questions about whether being a woman gives her a unique perspective into social, economic and foreign policy issues, and how this might make her different from a male president. I think she'll also get questions about what she has learned during her service as Secretary of State, and how this has prepared her for the presidency.

Millennials – Who Are They And What Do They Want?

TeamDepends's picture

TeamDepends' question: Hillary, how have you managed to stay out of prison all these years? You must have friends in high (low) places!

SheepDog-One's picture

And Hitlery is 'Shit Finger'.....everything she touches to shit and everyone around her drops dead.

pods's picture

Couldn't be the money system now could it?

Maybe in another 8 years Snyder can talk about how debt has quadrupled as the debt curve moves along the exponential growth line?

pods

Handful of Dust's picture

Playing the Devil's advocate, Obama has pushed BLM-related killings to an all-time high.

That's a sort of achievement, right?

Shocker's picture

Taking out the rest of the job market...good work

Layoff List: http://www.dailyjobcuts.com

-

847328_3527's picture

The goods news under Hillbama just does not stop:

 

EnerNOC Is Having a Major Round of Layoffs

 

EnerNOC, the Boston-based provider of energy intelligence software, just announced it will cut 15 percent of its workforce, effective immediately. This amounts to more than 200 jobs from the company's workforce of 1,400, The Boston Globe reported, making it the company's largest round of layoffs yet since it was founded 15 years ago.

 

http://bostinno.streetwise.co/2016/09/23/enernoc-ceo-addresses-large-rou...

Stainless Steel Rat's picture

I watched every debate between Hillary and Sanders.  It doesn't matter.  Sanders kicked Hillary's ass from here to Iowa and CNN/WaPo/Politico/etc. are all wall to wall "Hillary Won" when it's over.

IRC162's picture

#27   The current regime has benefitted from coming on EIGHT YEARS of near ZERO PERCENT Federel Funds Rate, thanks to the politically corrrupt Federal Reserve.  No other president-since the creation of the Fed- has benefitted from such free money policy.

Guess what kids, the parents are back in town.  We increased your allowance ([$20TT in FY2015-2016], highest ever tax revenues/collections), but you chose to wreck the house with your wild 8 year party, and still spent another 50% of that  and charged the credit card up.  Time for your children to suffer for your choices.

We are in the last days of this sham.  Long Bullets/Beans/Bullion/BodyBags

HopefulCynical's picture

538 has Trump and Clinton almost tied, in terms of chance to win the election. Trump landslide: http://projects.fivethirtyeight.com/2016-election-forecast/?ex_cid=rrpromo

PrayingMantis's picture

 

 

 ... FBI law enfarcement handing out above-the-law "immunity" deals to clintonite aides like candy ... >>> FBI: Huma Abedin Granted Immunity Too in Hillary Clinton Email Probe >>> http://truepundit.com/fbi-huma-abedin-granted-immunity-too-in-hillary-clinton-email-probe/ 

Kidbuck's picture

We can put off reckoning at least till our grandchildren, maybe longer. The dollar still buys groceries for most of us. No one is hungry except the same bums that will always spend their lunch money on drugs. Homeless is a leftist word for friendless and/or helpless. Until most Americans are suffering like Washington's Army at Valley Forge we will soldier on.

thesonandheir's picture

Trump winning hands down - WORLDWIDE!!

 

DON'T BELIEVE THE LIBERAL LYIN' MEDIA!!!!!!!!!

 

https://worldwide.vote/hillary-vs-trump/#/

 

WakeUpPeeeeeople's picture

Not sure what that number is but when there is enough people that have lost everything with nothing else left, they will pick up a gun and hold court and that is called a revolution. At least the French had enough balls to take care of business 230 yrs ago.

Vive Le Revolution.

AVmaster's picture

Whats this WE crap in the article for?

 

Nobody here told oblabber to go on a spending spree not even the author....

 

Can't wait for that fool in the whitehouse to go away. That way all this race crap goes away too...

Million Dollar Bonehead's picture

Yes, Dear Leader has left a bloody trail of death and carnage in her wake. Such is the fate of all who dare challenge her divine authority. On January 20th, the purge of her enemies will be unlike anything your weak, emasculated culture has ever seen. Night of Long Knives? Ha! It will be more like the Year of Long Trenches filled with the rotting bodies of Tea-Partiers, Republican operatives, and Trump supporters. Long Live Dear Leader Hillary! Long Live Senior Provost Soros! Long Live Princess Huma! May Dagon smile upon them for all eternity!

Vatican_cameo's picture

 

Let's give credit where it is due, Gun Sales (and ammo) have been through the roof since the Brown Clown came to Town.  Like Penicillin in a Whorehouse, it has served one purpose.

wren's picture

Was MDB promised a cabinet seat?

I love his methods! Talk about stiring emotions! I'm sure his responses on here will assure more than a few of us go to cast our votes!

HowdyDoody's picture

Fact #0

No matter whether Trinton or Clump wins, the winner will be the Preseident for Israel.

http://mondoweiss.net/2016/09/clinton-trump-netanyahu/

OT: The real story behind the alleged corruption of Dilma, the ex President of Brasil, has been revealed by Michael Temer, her succesor. He gave full details in speech at a meeting of the  Council of the Americas (a US business organisation).

"many months ago, when I was still vice President, we released a document named 'A Bridge to the Future', because we knew it would be impossible for the government to continue on that course. We suggested that the government adopt the theses presented in that document called 'A Bridge to the Future'. But, as that didn't work out, the plan wasn't adopted and a process was established which culminated in me being installed as President of the Republic."

https://www.youtube.com/watch?v=WfvUJObeFAo

This regime change was nothing to do with alleged corruption of the incumbent. It was because the government would not adopt US mandated neoliberal austerity programs. So this was yet another US sponsored coup to install a vassal leader who will sell his country out for US corporate interests.

 

 

 

Bryan's picture

Question #2:  Have you stopped beating your husband?

stilletto2's picture

So MDB you're saying the debate will be biased. That Trump will get aggressive questions and Hilary will get softball lollypop questions. You may be right there (a first for everything). So given this bias I guess you're voting for Trump as the honest candidate. You've seen the light at last.

TeamDepends's picture

STOP replying directly to MDB! Look at this thread, hijacked again. We used to find his posts amusing, but now they are merely an annoying and painful reminder that there are still way too many Americans who spout this nonsense. And they are nothing if not predictable.

HopefulCynical's picture

Yep!! Stop replying, stop voting up OR down. Ignore completely.

Trolls crave attention. Withhold it and they go elsewhere.

Million Dollar Bonehead's picture

Watch tonight as The Donald fails miserably. Dear Leader Hillary has been waiting for her opportunity to eviscerate and humiliate The Donald. She will quite literally claw her way through his flabby, bergamot-tinted abdomen, rip out his beating heart, and drink directly from his severed aorta, laughing heartily between gulps of his thin, watery Trump-blood as The Donald begs her to please spare him. Dear Leader will not only show him no mercy, but will also devour his children backstage and burn their wicked bodies upon the Pyre of Baal Shamin. Peace be unto The Dear Leader Hillary and may the Eye of Providence smite her enemies this evening.

IRC162's picture

I thought she preferred live babies?

lost in the cosmos's picture

Also watch tonight as Hillary wears diapers.  Try to guess at what point she has soiled herself.

FrankDrakman's picture

It's a pity MDB is too subtle for most. I love his stuff. 

Tactical Joke's picture

He's good. The pseudo-MDB mostly sucks.

Offthebeach's picture

I agree.

The press Al Capones' baseball bat the Republican.....

And (with a smile) gives Hillary 90 minutes of cunnilingus.

koda's picture

Hillarious is a mercenary for the 1% period “Her so-called foreign policy ‘experience’ has been to support every war demanded by the US deep security state run by the military and the CIA.”

koda's picture

Hillarious is a mercenary for the 1%. “Her so-called foreign policy ‘experience’ has been to support every war demanded by the US deep security state run by the military and the CIA.”

KimAsa's picture

Or, Cankles could launch into a levodopa freeze? Levodopa freezes aside, she is not fit to be potus. Hillary is volatile. Women really need to exit politics. It's a man's job. Women are too emotional for the job.

Bwana's picture

How much crack do you smoke daily?

Duane Norman's picture

For a different perspective, check out my pre-debate odds analysis.  Its coming up Trump so far!

http://fmshooter.com/pre-debate-election-odds-update/

deKevelioc's picture

Yeah, the list and click-bait title.

Rabbi Chaim Cohen's picture

This list is like handing a multiplication table to an engineering student before a math test and winking as if to say: "I've got your back".

Not to mention the list has only 24 major problems? How about 48 milion US citizens on food stamps? How about the 10s of Trillions in SSI, Medicare unfunded liabilities. The Fed's balance sheet, equity PE levels, cowardly stock buybacks financed by layoffs and more debt, the list goes on.

If any of us spent a good 15 minutes we could probably think of at least another 24 major problems that he overlooked. The problems are epic, unprecedented, untenable and quite frankly, evil; especially for anyone who grew up before 1990. The good news is I think we are about to begin witnessing the corrections. Hang on...

Dr. Spin's picture

MDBs a Bot.  It's too consistent.

Just a brain dead left wing progressive BOT.

Never had an original thought in it's life...

;-D   

monk27's picture

It might be that MDB is just some AI which keeps posting the results of its cogent activity automaticaly... in which case there  is still a lot of work to do, since the "I" component is mostly missing...

CuttingEdge's picture

Nah, just a bloke in his mother's basement jerking off to his Hillary pantsuit gallery.

larz's picture

Unprecedented in it's lopsided benefits toward the criminal upper class and unprecedented in it's inflated stature through bald faced BLS lies the stock market is a weak metric for recovery

InflammatoryResponse's picture

don't worry those words don't mean what he thinks they mean.

 

JRobby's picture

It's easy to be good Vince when you are in Uncle Oblivio's basement with 6 computers and 24 screens.

It's what happens when he emerges into the light of day (if he ever does)

He succeeds daily with pushing valuable comments back pages while everyone attacks him. This is MDB's measure of success. He's winning.

Fisherman Blue's picture

Suck his dick, bitch. Clinton is a monster just like him.