Thursday, July 12, 2012

Obama The Big Fail

President Obama doubled down on his broken promises and failed economic leadership in an interview with CBS News today, where he figured his biggest mistake as President was not telling a better story. Unfortunately, the 23 million Americans currently unemployed or underemployed need action instead of words, and on that President Obama has clearly failed.

Meanwhile, here in Arizona...
"Since President Obama took office, 67,000 more Arizonans are unemployed despite Republican efforts for pro-growth reform in the face of his disastrous economic policies. President Obama clearly doesn’t understand that empty promises and stories will not get Arizona back to work.” –RNC Spokesman Ted Kwong

Jobs: Since Obama Took Office, Arizona Has Lost 67,200 Jobs And The Unemployment Rate Has Decreased From 8.3 Percent To 8.2 Percent. (Bureau of Labor Statistics, Accessed 7/11/12)

In May, Arizona Lost 6,200 Jobs. (The Bureau of Labor Statistics, Accessed 5/18/12)

Unemployment: Arizona Has 245,867 Unemployed Seeking Work. (Bureau of Labor Statistics, Accessed 7/11/12)

Median Household Income: Since 2008, Arizona’s Median Income Has Fallen $4,169. (U.S. Census Website, Accessed 10/17/11)

Food Stamps: Since Obama Took Office, The Number Of People In Arizona Receiving Food Stamps Has Increased By 47 Percent. (“Supplemental Nutritional Assistance Program: Number Of Persons Participating ,” Food Research And Action Center, Accessed 7/2/12;"Supplemental Nutritional Assistance Program: Number Of Persons Participating,” USDA Food And Nutrition Service, Accessed 7/2/12)

Poverty: Between 2008 To 2010, 155,325 More People In Arizona Fell Into Poverty. (“Poverty: 2007 And 2008,” U.S. Census Bureau, 10/11;"Poverty: 2009 And 2010,” U.S. Census Bureau, 10/11)

College Tuition: The Average Student Graduating From A Four-Year College Institution In Arizona Has $18,454 In Debt. (Project On Student Debt, Accessed 5/4/12)

Home Values: As Of April 2012, Arizona Has Had The Second Largest Peak-To-Current Decline In Home Prices In The Nation, Dropping 46.5 Percent."The five states with the largest peak-to-current declines including distressed transactions are Nevada (-58.9 percent), Florida (-46.5 percent), Arizona (-46.5 percent), Michigan (-43.6 percent) and California (-41.0 percent).” (Press Release,"CoreLogic April Home Price Index Shows Year-Over-Year Increase Of Just Over One Percent,” CoreLogic, 6/5/12)

Foreclosures: In The First Quarter Of 2012, Arizona Had The Nation’s Third Highest Foreclosure Rate With One In Every 106 Housing Units Having A Foreclosure Filing."One in every 106 Arizona housing units had a foreclosure filing in the first quarter, the nation’s third highest state foreclosure rate.” (“Q1 2012 Foreclosure Activity Lowest Since Q4 2007,” RealtyTrac, 4/5/12)

Negative Equity: In The First Quarter Of 2012, Arizona Had The Second Highest Percentage Of Negative Equity In The Nation, As 52.3 Percent Of All Homeowners Have Mortgages Underwater. "On a state level, Nevada has the highest percentage of negative equity, with 66.9 percent of all homeowners with mortgages underwater. Arizona (52.3 percent), Georgia (46.8 percent), Florida (46.3 percent) and Michigan (41.7 percent) also have highest percentages of homeowners in negative equity.” (Press Release,"Despite Home Value Gains, Underwater Homeowners Owe $1.2 Trillion More Than Homes’ Worth,” Zillow, 5/24/12)

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