Some on the Democrat side of the impending US election like to squawk that Obama has performed miracles with the US economy. The deficit is down apparently and job numbers are up, thanks to Obamacare many people now have health coverage. Apparently Hillary Clinton is set to continue with Obama’s legacy of performing miracles.
For many people though the cost of living is up. That’s because the Obama miracles caused their full time job to be converted into a part time job to avoid Obamacare levies with the added bonus in some cases of the employee still expected to do the same amount of work. With less money coming they are also badly placed to face cost of living increases that have hit people to fund Obamacare.
In other cases some full time jobs have become two part time jobs which has had a corresponding impact on job numbers. Through the magic of turning one full time job into two part time jobs unemployment figures are reduced. Yay Obamacare. You’ll have to work harder for less but you’ll have health coverage for when you crack under the strain. (You had it before but with your own doctor but never-mind that, you can say the economy is better!)
One thing that has increased during Obama’s eight years in office and increased massively is the national debt. When he took office in 2009 the debt was already way too high at $11,909,829,003,511.75. By the time he leaves the debt will be nearly doubled at around $19,391,704,027,667.12.
In other words the ‘better economy’ under Obama is a smoke and mirrors job funded by debt, debt and more debt.
So it’s not really a matter of Obama doing wonders with the US economy, it’s more a matter that it’s a wonder the US economy is still even functioning.
For the left though the debt he's left for taxpayers is an achievement beyond belief, Obama has spent more of other peoples money than anyone else in history.
And on a related subject, while the debt is measured against the GDP the entire GDP is not actually available for servicing the debt. The current GDP is approximately $18 trillion and the US government gets approximately $3.25 trillion dollars of that. The debt is serviced from the sum received by the US government which has other commitments as well from pensions to infrastructure.