How Sick is the American Economy?
- Under Obama, Unsustainable National debt has doubled to 19.5 Trillion dollars
- Corporate Debt has also doubled since the end of 2007
- Default rates on U.S. corporate debt are the highest since the last financial crisis.
- Corporate profits have fallen for five quarters in a row
- Commercial bankruptcy filings were up 29 percent against previous year
- The rate of new business formation stagnated at lowest levels since 2008
- This is the weakest “economic recovery” since 1949.
- 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.
- Capital expenditure growth has turned negative, and history has shown that this is almost always followed by a new recession.
- 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.
- The labor force participation rate peaked back in 1997 and has been steadily falling ever since.
- The “inactivity rate” for men in their prime working years is actually higher today than it was during the last recession.
- 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.
- 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.
- 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.
- According to the Social Security Administration, 51 percent of all American workers make less than $30,000 a year.
- The rate of home-ownership in the U.S. has fallen every single year while Barack Obama has been in the White House.
- Approximately one out of every five young adults are currently living with their parents.
- The auto loan debt bubble recently surpassed the one trillion dollar mark for the first time ever.
- Auto loan delinquencies are at the highest level that we have seen since the last recession.
- 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.
- One recent survey discovered that 62 percent of all Americans have less than $1,000 in savings.
- 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.
- 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.
Donald Trump has given voice to the frustrations and aspirations of the American people like no leader in my lifetime since Ronald Reagan. He’s cast a vision to Make America Great Again.
From the days of the primary through our convention and every day since, he’s been outlining the details and policies that will restore American strength at home and abroad, uphold our Constitution, promote the kind of trade policies that will put the American worker first, end illegal immigration. He’s laid out the details of those policies. And the contrast with the real insult-driven campaign of Hillary Clinton and Tim Kaine could not be more dramatic.
Their campaign every day seems to be intent on calling a press conference and focusing on what Donald Trump said or Tweeted in the last days or weeks or in some cases years. But the reason why you saw the crowd here in Virginia, the reason why you see the enormous crowds that are coming out for Donald Trump, is because by articulating a vision and laying forth the policies for how we Make America Great Again, Donald Trump has inspired a movement in this country and I think it’s going to carry him all the way to the White House.