Middle-Class Promise Gap: Parma, OH

- July 5, 2012

Two Years Later, Obamanomics Is Still Failing To Help The Struggling Middle Class Or Rein In The National Debt

Obama In Parma, OH In 2010: “But The Truth Is, Progress Has Been Painfully Slow.” (President Barack Obama, Remarks On The Economy, Parma, OH, 9/8/10)


Obama: “The Middle Class Is Still Treading Water. And Those Aspiring To Reach The Middle Class Are Doing Everything They Can To Keep From Drowning.” OBAMA: “Hundreds of thousands of families have lost their homes. Millions more can barely pay the bills or make the mortgage. The middle class is still treading water. And those aspiring to reach the middle class are doing everything they can to keep from drowning.” (President Barack Obama, Remarks On The Economy, Parma, OH, 9/8/10)

But Middle Class Ohioans Continue To Struggle Under His Policies

The Associated Press: “The President Can't Tell Voters About A Grand Economic Comeback Story Because There Isn't One To Tell.” (Ken Thomas, “Obama Doesn’t Emphasize Issues He Fought Hard For,” The Associated Press, 6/12/12)

Jobs: Since Obama Took Office, Ohio Has Lost 45,200 Jobs. (Bureau of Labor Statistics, Accessed 6/8/12)

Food Stamps: Since Obama Took Office, The Number Of People In Ohio Receiving Food Stamps Has Increased By 42 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, 286,878 More Ohioans Fell Into Poverty. (“Poverty: 2007 And 2008,” U.S. Census Bureau, 10/11; “Poverty: 2009 And 2010,” U.S. Census Bureau, 10/11)

Median Household Income: From 2008 To 2010, Ohio’s Median Household Income Has Fallen $2,898 From $47,988 To $45,090, Or 6 Percent. (U.S. Census, "Household Income For States: 2009 And 2010," 9/11; U.S. Census, " Household Income For States: 2007 And 2008," 9/09)

Gas Prices: Since The Week Obama Took Office, The Average Price Per Gallon Of Gas In Ohio Has Increased From $1.903 To $3.357. (“Current State Averages,” Fuel Gauge Report, 1/16/09; “Current State Averages,” Fuel Gauge Report, 7/5/12)

College Tuition: The Average Student Graduating From A Four-Year College Institution In Ohio Has $27,713 In Debt. (Project On Student Debt, Accessed 5/4/12)

Foreclosures: Ohio Has The Nation’s Ninth Highest State Foreclosure Rate In The Nation, As One Out Of Every 525 Houses Had A Foreclosure Filing. (Press Release, “U.S. Foreclosure Activity Shifts Eastward In April,” RealtyTrac,5/10/12)

As Well As Middle Class Americans Throughout The Country

Jobs: Since President Obama Took Office, The Nation Has Lost 552,000 Jobs And The Unemployment Rate Has Remained Above Eight Percent For 40 Straight Months. (Bureau Of Labor Statistics, Accessed 6/1/12)

Unemployment: 23.2 Million Americans Are Either Unemployed, Underemployed Or Have Given Up Looking For Work. (Bureau Of Labor Statistics, Accessed 6/1/12)

Long-Term Unemployment: Since Obama Took Office, The Average Duration Of Unemployment Has Doubled From 19.8 Weeks To 39.7 Weeks. (Bureau Of Labor Statistics, Accessed 6/1/12)

Government Assistance: “49.1%: Percent Of The Population That Lives In A Household Where At Least One Member Received Some Type Of Government Benefit In The First Quarter Of 2011.” (Phil Izzo, “Number Of The Week: Half Of U.S. Lives In Household Getting Benefits,” The Wall Street Journal’s “Real Time Economics,” 5/26/12)

Food Stamps: Since President Obama Took Office, The Number Of Americans Receiving Food Stamps Has Increased From 31.9 Million To A Record 46.4 Million, A 45 Percent Increase. (Department Of Agriculture, 5/1/12)

Poverty: 97.3 Million Americans Now Qualify As Low-Income And Another 49.1 Million Are In Poverty; Together, 146.4 Million Americans Or 48 Percent Of The Population. (Hope Yen, “Census Shows 1 In 2 People Are Poor Or Low-Income,” The Associated Press, 12/15/11)

Median Household Income: “Real Median Household Income In March Was Down $4,300 Since Obama Took Office In January 2009 …” (Mike Dorning, “Obama Fails To Stem Middle-Class Slide He Blamed On Bush,” Bloomberg, 4/30/12)

College Tuition: Since President Obama Took Office, The Average Cost Of In-State Tuition At A Four Year College Has Risen From $6,585 To $8,244, A 25 Percent Increase. ("Trends In College Pricing 2009," College Board, 2008; "Trends In College Pricing 2011," College Board, 2011)

Health Care: Under Obama, The Average Cost Of Family Health Care Premiums Have Increased From $12,680 To $15,073. (“Employer Health Benefits, 2011 Annual Survey, Exhibit 1.11” Kaiser Family Foundation, 2011)


Obama Pledged To Reduce The Debt, Saying “We See An America Where We Refuse To Pass On The Debt We Inherited To The Next Generation” Adding “I Am Absolutely Committed To Fiscal Responsibility.” OBAMA: “And finally, we see an America where we refuse to pass on the debt we inherited to the next generation. … But I am absolutely committed to fiscal responsibility, which is why I've already proposed freezing all discretionary spending unrelated to national security for the next three years. (Cheers, applause.) And once -- once the bipartisan fiscal commission finishes its work, I'll spend the next year making the tough choices necessary to further reduce our deficit and lower our debt -- whether I get help from the other side or not.” (President Barack Obama, Remarks On The Economy, Parma, OH, 9/8/10)

Since Then, The National Debt Has Increased Over $2.45 Trillion. (U.S. Treasury Department, Accessed 6/22/12)

After Adding Over $5 Trillion To The National Debt, Obama Has Become “The Undisputed Debt King Of The Last Five Presidents”

Since Obama Took Office, The National Debt Has Increased By Over $5.2 Trillion, An Increase Of Over 49 Percent. (U.S. Treasury Department, Accessed 6/22/12)

  • Obama Is Responsible For “The Most Rapid Increase In The Debt Under Any U.S. President.” “The latest posting by the Treasury Department shows the national debt has now increased $4 trillion on President Obama's watch. The debt was $10.626 trillion on the day Mr. Obama took office. The latest calculation from Treasury shows the debt has now hit $14.639 trillion. It's the most rapid increase in the debt under any U.S. president.” (Mark Knoller, “National Debt Has Increased $4 Trillion Under Obama,” CBS News, 8/22/11)
  • Congressional Budget Office: “The Amount Of Federal Debt Held By The Public Has Skyrocketed In The Past Few Years …” “The amount of federal debt held by the public has skyrocketed in the past few years, rising from 40 percent of GDP at the end of 2008 to reach an estimated 67 percent by the end of this year.” (“The Budget And Economic Outlook: An Update,” Congressional Budget Office, 8/24/11)

President Obama Has Racked Up The Three Largest Deficits In U.S. History. “The U.S budget deficit for fiscal year 2011 is $1.299 trillion, the second largest shortfall in history. The nation only ran a larger deficit for the 2009 fiscal year, which included the dramatic collapse of financial markets and a huge bailout effort by the government.” (Erik Wasson, “Treasury Announces 2011 Deficit Is Second Highest In History,” The Hill’s “On The Money”, 10/14/11)

Politifact: Barack Obama Is “The Undisputed Debt King Of The Last Five Presidents.” “So by this measurement -- potentially a more important one -- Obama is the undisputed debt king of the last five presidents, rather than the guy who added a piddling amount to the debt, as Pelosi’s chart suggested.” (“Nancy Pelosi Post Questionable Chart On Debt Accumulation By Barack Obama, Predecessors,” Politifact, 5/19/11) 

As A Result, The Debt Burden On Every Ohioan Has Surged

Since Obama Took Office, Every Ohioan’s Share Of The National Debt Has Increased Over $16,000. (U.S. Treasury, Accessed 6/27/12)

Since Obama Took Office, Ohio’s Share Of The National Debt Has Increased More Than $192 Billion. (U.S. Treasury, Accessed 6/27/12)

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