An "Economic Quality" Scorecard Of The Obama Administration

Tyler Durden's picture




 

With the US presidential election just 4 months away, focus on tier 1 economic data will become acute, as will headlines blasting top-line data without much, if any, underlying "between the lines" analysis. Which is why we have decided to put together a template of key data series that in our opinion best capture the dramatic shift in the labor composition of the US welfare state under the Obama administration, starting with January 2009. Here are the facts:

  • Total Nonfarm Payrolls have decreased by -1.3 million from December 2008 (134,379K) to June 2012 (133,088); Source: St. Louis Fed
  • Full-time jobs based on the Household Survey, have decreased by 2.5 million from 117,039K to 114,573K; Source: Table A.9, BLS
  • Parti-time jobs based on the Household Survey, have increased by 1.6 million from 26,3187 to 27,894K; Source: Table A.9, BLS
  • Foodstamps recipients have increased by 14.6 million from 31.567 million to 46,187 (as of April 2012); Source: USDA
  • Disability recipients have increased by 1.3 million from 7.427 million to 8.733 million; Source: Social Security Administration

And that, in a nutshell, is how the economy has performed over the past 42 months.

Visually:

Which, however, is not to say that in addition to millions on foodstamps and disability, and just over a million part-time workers added, the US has little to show for the last three and a half years: as the chart below shows, over the same time period Total Public Debt to GDP has risen from 76.7% to 101.7%, a 25% increase in absolute terms.

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Sat, 07/07/2012 - 15:09 | 2595149 bob_dabolina
bob_dabolina's picture

Use of drones is under the "bombing countries" category, in which I designated him an A...should have been A+

Sat, 07/07/2012 - 15:14 | 2595161 I am Jobe
I am Jobe's picture

is there such a thing as a Negative Grade.If so how about a -F to sum it all up. Don't forget Congress in this.

Sat, 07/07/2012 - 15:26 | 2595168 uno
uno's picture

government transparency F-----

Protect the constitution F--------------------------------------------------------------

hope F---------------------------------------------------------------------

Change from Bush/Clinton   F---------------------------------------------------------

 

Sat, 07/07/2012 - 21:02 | 2595674 Everybodys All ...
Everybodys All American's picture

Bin Laden - A+ ... and I wouldn't vote for Obama if he were the only guy running. Didn't vote for him the first time and will not vote for the empty suit this time either.

Sat, 07/07/2012 - 15:01 | 2595131 q99x2
q99x2's picture

Grade = F

Some people will do anything for money.

Sat, 07/07/2012 - 15:12 | 2595155 TrainWreck1
TrainWreck1's picture

I give him a G.

Not for "good" but because F just isn't low enough.

 

 

Sat, 07/07/2012 - 15:02 | 2595134 erlebach
erlebach's picture

I'd like to see the same graphs from 2000 to 2012 or 2004 to 2012 to clear see whether the graphs shifted dramatically once Obama became president. Just showing the last 4 years is misleading. I am not a fan of Obama, but Zero Hedge usually goes out of its way to provide complete information. 

Sat, 07/07/2012 - 15:06 | 2595142 GMadScientist
GMadScientist's picture

Fairness Doctrine Shmairness Doctrine.

Sat, 07/07/2012 - 15:20 | 2595165 GernB
GernB's picture

Agreed.

Sat, 07/07/2012 - 16:02 | 2595248 barliman
barliman's picture

 

G  O  O  G  L  E

The information is easily available via Google seaching Zerohedge if you wish to be specific ... or a variety of additional sources if you would like a broader source.

Are you sure you want to display the fact you are:

a) a low information voter who can only access what is spoon fed to you?

b) one of the SCOAMF online minions?

c) unable to retain information already presented?

d) all of the above?

barliman

Sat, 07/07/2012 - 16:29 | 2595290 TWSceptic
TWSceptic's picture

Nothing really changed, just more debt and less freedom (as usual). I think it's funny people still think a different guy is going to change anything.

Sat, 07/07/2012 - 20:54 | 2595658 SystemsGuy
SystemsGuy's picture

Absolutely agreed. The economy was already in freefall by January 2009, and unemployment was rising rapidly. The first two years of any president's first term don't accurately reflect his policies on the economy because it takes that long to implement solutions and have them take effect. The tech bubble bust was Clinton's, The 2008 collapse was Bush's. If the economy goes south again immediately after Romney gets elected, that's Obama's. Show data or stop posting what amounts to political propaganda.

Sat, 07/07/2012 - 15:02 | 2595136 Seasmoke
Seasmoke's picture

 

Obamanation

Sat, 07/07/2012 - 15:03 | 2595138 Conrad Murray
Conrad Murray's picture

Doin a heckuva job Browny!

Sat, 07/07/2012 - 15:05 | 2595140 GMadScientist
GMadScientist's picture

Good god man. Stop feeding the poor people Beluga before the bonds crash!

Sat, 07/07/2012 - 15:07 | 2595145 Milestones
Milestones's picture

I tried to think of one positive thing this Congress and O'blah blah have accomplished in the past 4 years. Still trying to find it. This is beyond pathetic. But, my lord how these clowns love to talk and talk and Blah blah blah. You can all get strapped!!       Milestones

Sat, 07/07/2012 - 15:10 | 2595151 bob_dabolina
bob_dabolina's picture

I can think of one good thing.

They didn't do more.

Sat, 07/07/2012 - 15:26 | 2595175 I am Jobe
I am Jobe's picture

USSA the land of O Blah Blah Blah.

Don't forget Kardashians, TomKat and Iphones. Is there an App for that? Critical thinking and work is optional in Amerika.

Sat, 07/07/2012 - 17:06 | 2595350 knukles
knukles's picture

Whaaaat?
I don't get it.

Sat, 07/07/2012 - 15:51 | 2595184 spooz
spooz's picture

My memory of this administration and congress will be the further erosion of civil liberties through expansions of the Patriot Act with the NDAA. Nothing matches the loss of personal freedoms this legislation enables.  Hopefully by the time the slippery slope becomes obvious, the sheeple won't be trying to hide from it instead of outraged. Maybe the loss of economic opportunity and erosion of living standards will give the latter a chance. As more slip through the overextended safety net and realize the American Dream has become a myth, while the looting by banksters continues to be exposed, perhaps there will be a youth uprising that demands change. The internet is a powerful agent for truth. The key is to continually work on filtering the propaganda.  To trust but verify quoted "facts". 

Sun, 07/08/2012 - 10:04 | 2596124 roadhazard
roadhazard's picture

I agree with the erosion of civil liberties and add no bankers or Congressmen or anyone from the Executive branch went to jail.

disgusting.

Why anyone wastes their time voting anymore is a mystery to me. That just gives them credibility. Thay have ZERO.

Sat, 07/07/2012 - 15:24 | 2595171 I am Jobe
I am Jobe's picture

The tax man cometh to police you on health care

http://news.yahoo.com/tax-man-cometh-police-health-care-115736849--finan...

 

Sat, 07/07/2012 - 16:20 | 2595271 Waterfallsparkles
Waterfallsparkles's picture

Makes you wonder if the Health Care Mandate is more about collecting Income Taxes than providing Health Care.

You will have to prove your income to receive Health Care.  No Tax Returns, No Health Care For YOU.

Was taking to my Cousin today and said that this law is more about monotoring peoples income that Health Care.  There must be a lot of Tax Cheats out there.

Total control, that is what they are after.  At least for those that earn an income.  Those who do not earn an income are home free.

Sat, 07/07/2012 - 16:43 | 2595314 sosoome
sosoome's picture

Total control, that is what they are after.

Sat, 07/07/2012 - 18:06 | 2595427 Shizzmoney
Shizzmoney's picture

Makes you wonder if the Health Care Mandate is more about collecting Income Taxes than providing Health Care.

Of course it is.  Our government is just one big conglomorate of corporations working together to centrally plan the system, and protect monopoly.  These entities all seek the continous rise of "income revenue streams", no matter how good or bad the actual real, breathing economy is.  That's how a facsist, corporate government operates: it needs money to do the stupid, evil shit it does....even at the expense of the most expendable (the poor), because of the fact of it's belief that particular segment of society doesn't need to exist in order for it to function.

Don't believe for one second the ACA is 100% about helping people.  It isn't.  There are good things in there; but the bill is littered with special provisions and corporate kickbacks.  And also a ban on traveling with certain amounts of gold and silver (srsly).

The ACA is about Health Insurers and Hospitals and Big Pharma making bigger profits, with governemnt as an enforcer, getting a cut of the action.  As I say this as a guy who leans to the left of the subject and wants single payer (but we have to End the Fed first, b/c without sovereign currency, you are just going to have bigger, unsustainable deficits).

Sun, 07/08/2012 - 07:45 | 2596034 Waterfallsparkles
Waterfallsparkles's picture

Health Care for all is also to protect the Banks from people going Bankrupt due to Health related costs that arise without Health Insurance.  Just think about all of the Credit Card and Mortgage Loans they have to write off because of Bankrupcy caused from Medical Bills.

Sat, 07/07/2012 - 15:39 | 2595194 roadhazard
roadhazard's picture

Same score I gave BushCo, Clinton, Bush Senior, Reagan, Carter, Nixxon and all Congresses. The circle is unbroken. There is no one to save us.

Sat, 07/07/2012 - 15:45 | 2595210 Getting Old Sucks
Getting Old Sucks's picture

My Fellow Americans, my name is Getting Old Sucks and I'm running for President.  If you vote for me, I promise to be completely truthful with you.  We as a Nation are totally FUCKED!  In fact the whole world is totally Fucked.  The only way for the world to survive is to decrease the population by 50%.  I'm appealing to the elderly to save your children and grandchildren, and if elected I will do that.  In order to kill 3.5 billion people, it will take nuclear weapons.  If elected, I will form a commitee of all nuclear powers and together we will coordinate the place, time and number of nuclear strikes.  It will give all nations time to build and supply shelters for all people under the age of 50.  After those to be saved are safely in shelters, all those over 50 will have to assemble in the strike zones and give the ultimate sacrifice for your children and grandchildren.  Worry not, I will be there with you!

Now, if you don't elect me, it's going to happen anyway but there'll be no shelters except for our leaders and there finacial supporters.  Then the young will die with the old.  The choice is yours,  Do it for the children.

Sat, 07/07/2012 - 16:53 | 2595328 knukles
knukles's picture

Did you write the Georgia Guidestones for Bill Gates?

Sat, 07/07/2012 - 17:22 | 2595379 AssFire
AssFire's picture

You old fuckers get so melodramatic after a few highballs.. Appreciate the deathwish but at this time it is uncalled for.

Sat, 07/07/2012 - 15:47 | 2595214 Chartist
Chartist's picture

I was able to get back into my old career 18 months ago following a 13 year hiatus....I was forced to do so as my business suffered mightily.  I worked my ass off to get back in but I was successful in the worst job market I've ever seen.  Maybe I got lucky and maybe god was on my side but it was no thanks to Obama for sure.

Sat, 07/07/2012 - 15:50 | 2595219 spooz
spooz's picture

I'm expecting to see lots of boomers doing the same thing as they see their retirement plans evaporate with the bad economy, which will only result in fewer entry level jobs available for college grads.

Sat, 07/07/2012 - 15:55 | 2595230 Chartist
Chartist's picture

you're right Spooz....Since I was away so long, I had to accept a lower level position.  So instead of director, I took a mid career position.  It affects the whole food chain with new grads, having no experience, as bag holders.

Sat, 07/07/2012 - 15:50 | 2595220 IMA5U
IMA5U's picture

The liberals will just blame it on Bush

Sat, 07/07/2012 - 15:50 | 2595222 sablya
sablya's picture

When is this debt ceiling question going to raise its ugly head again?

Sat, 07/07/2012 - 16:07 | 2595254 barliman
barliman's picture

 

Ten weeks from Monday

barliman

Sat, 07/07/2012 - 19:27 | 2595529 sablya
sablya's picture

The validity of the public debt of the United States [...] shall not be questioned.

(Constitution, Amendment XIV, Section 4)

 

As I understand it, when the issue comes up again, the Dems are going to argue that the 14th Amendment asserts that the debt limit is unconstitutional.  And there will be a messy battle over the constitutionality of the debt limit which will divert attention from the fundamental question of the debt itself.  

Sat, 07/07/2012 - 20:01 | 2595583 barliman
barliman's picture

 

At that point it will be like arguing whether to piss in the head or over the rail on the Titanic.

Completely pointless with regards to the outcome.

barliman

Sat, 07/07/2012 - 16:03 | 2595249 slewie the pi-rat
slewie the pi-rat's picture

when the squid put the kenyan in the whiteHouse, the expectations were too high

we must adjust,  comrade BiCheZ

slewienomics indicates we are paying these fuktards waaaay too much for what they are doing to, errr..., for us

this is the fundamental economic truth of our age, globally

slewienomics:  simply true!

 

Sat, 07/07/2012 - 16:03 | 2595250 midgetrannyporn
midgetrannyporn's picture

The decades long loss of millions of usa jobs in manufacturing was masked somewhat by the housing bubble until it popped. The unemployment problem is structural due to outsourcing. It is unfair to blame owebama for that. Those jobs are not coming back and mittens effing knows it too. Food stamps and disability is the only thing preventing millions from falling into extreme poverty. Most commenters on zh think people should work for a cot and a ball of cadmium rice per day like the chinese do and everything would be all better. Maggots win = ZH happy.

Sat, 07/07/2012 - 16:39 | 2595307 Chartist
Chartist's picture

Few ZH readers would know this, but Cadmium laced rice was a problem of Japan, not China....

Sat, 07/07/2012 - 20:07 | 2595483 maximin thrax
maximin thrax's picture

Food stamps and disability is the only thing preventing millions from falling into extreme poverty.

I think it's more accurate to say that the missing productivity of millions has put those millions at risk of extreme poverty. For millimium people have had naught but a tiny piece of land and a tool to scratch the surface and yet were able to contribute to the common wealth. I'm certain with some modern equipment and agricultural techniques today's farmer could do even better. Why are our poor so special that in lieu of enabling an impoverished family to grow five cents worth of beans to eat, we spend a buck for a bureaucracy to give that family 50 cents to buy a can with five cents worth of beans in it?

Why teach a man to fish when you can borrow infinitely to buy his family a seafood meal so the restaraunt and the fisherman can make payroll?

Sat, 07/07/2012 - 21:03 | 2595676 SystemsGuy
SystemsGuy's picture

We've had twenty five years of "productivity increases" due to automation, outsourcing, slashing corporate payrolls and inflation induced reduced wages. Most people employed today are doing what it took 20-30 times the number of people to do a quarter century ago. In most cases, that productivity gain has gone towards corporate dividends, cash accrual, management bonuses and unnecessary capital expenditures, and the people who ultimately get this windfall are fighting tooth and nail to KEEP ON getting that. Frankly, the only people who haven't increased their productivity over this time are bloated CEOs, investment bankers and speculators. They're just as lazy and clueless now as they were a quarter century ago, only their a helluva lot better paid for it.

Sun, 07/08/2012 - 00:42 | 2595885 Oldwood
Oldwood's picture

And so who invested capital to develope these "productivity increases"? Who owns the technology and machines that allow a person to stand in an assembly line and make $50/hr? How many workers that are using these advances actually spent their own money to educate themselves to utilize them, rather than the employer having to train them? Can anyone claim that public education is typically sending people into the workforce better prepared than say thirty years ago? So who does own the productivity gains? In thirty plus years of business i have not had one employee volunteer to get advanced education or training on their own dime. They want me to pay for it,while paying them to learn, so they can demand higher wages or leave to a competitor. When people are willing to invest in themselves they might have a chance at benefitting from technology. As it stands, they are making themselves redundant. As we are becoming evermore high tech, the masses are quickly being left behind and may never catch up....assuming anything like our current society survives. Of course one of the big differences from the great depression was the majority of the people new how to at least grow food. Most today barely know how to cook it today.

 

 

Sat, 07/07/2012 - 16:04 | 2595252 msjimmied
msjimmied's picture

So where are the JOBS you promised Boehner? The game plan is fairly obvious. 

http://www.businessinsider.com/obama-the-government-jobs-slayer-2012-7

These articles are just annoying. The whores on the hill are all the same. They all suck, they all lie, they are all for sale to the highest bidder. What happens to the average man does not concern them at all, so why should the average joe even bother to pick a side and cheer? 

Sat, 07/07/2012 - 21:06 | 2595677 Everybodys All ...
Everybodys All American's picture

comment removed..

Sun, 07/08/2012 - 10:09 | 2596128 roadhazard
roadhazard's picture

What country is Boehner from.

Sat, 07/07/2012 - 16:08 | 2595256 Waterfallsparkles
Waterfallsparkles's picture

The problem is that when the People paying the Taxes become the Minority the whole thing collapses upon itself.

We all know that when the Majority of the People are on the Government Dole and can vote themselves benefits at the expense of the few remaining Tax payers there will no longer be enough Money to go around.

That is when there will be riots in the streets.  As soon as the Welfare, SSI Disability, food stamp checks stop coming.

 

Sat, 07/07/2012 - 17:28 | 2595387 spooz
spooz's picture

They wouldn't have to vote that way if there were economic opportunity for them.  Most of them would love to be paying taxes because that would mean theyhave the kind of job that provides a living wage.

Sat, 07/07/2012 - 19:41 | 2595559 maximin thrax
maximin thrax's picture

That was certainly true 50 years ago, but today? Back then, a person taking your job took the food off your family's table, and there was hell to pay. Show me the riots where buildings built by illegals are torched. Show me where stores such as WalMarts, relatively soft targets, are looted and vandalized for selling cheap imported junk? Or even Apple stores getting destroyed in protest of their outsourcing? Where is the populist domestic labor uprising? Where is Organized Labor?

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