What The Obama Administration Doesn’t Want You To Know
The Huffington Post, a regularly left-of-center website, has posted a list of the “14 things the Obama Administration doesn’t want you to know. Here are a few highlights:
* Prosecution for financial fraud hit a 20 year low during the Obama Administration.
According to a study by Syracuse University, the number of prosecutions has dropped every single year since 1999, meaning President Bush’s administration had more prosecutions at any given year than at any year in Obama’s presidency.
* Income inequality is worse under President Obama.
That’s right, the same president who famously declared we should “share the wealth has led a nation that has seen the largest gap between rich and poor in decades.
* Obama wants to lower the corporate tax rate.
Sure to enflame liberals, Obama has been pushing for corporations’ tax rate to drop from 35 percent to 28 percent. of course, most of the countries most profitable companies pay no effective taxes at all, thanks to various federal tax loopholes.
* Obamacare will make health care more expensive.
Most of us already knew this, but the administration has had to admit that insurance companies who are forced to cover millions of uninsured Americans and pre-existing health conditions will certainly pass the cost along to the consumer.
* Obama’s “Home Affordable Management Program has been a failure.
The program, which promised to help 3 to 4 million homeowners has only reached one million borrowers. Granted, the housing sector seems to be rising, but there was little place it could go besides up a few years ago.
* Homeowners haven’t benefitted from the mortgage deal with the states.
As part of the deal with mortgage companies that it mishandled loan applications, banks agreed to shell out $10 billion in debt forgiveness, but with no prodding from Obama, the banks have been slow to respond.
* Banks that were deemed “too big to fail” a few years ago are now even bigger.
According to Bloomberg, just five big banks hold 56 percent of the US economy today, according to 43 percent just give years ago.
* The vast majority of jobs created during this “recovery” are low-wage jobs.
And they’re part-time jobs too. If you combine the number of Americans who are either unemployed, underemployed or have simply stopped looking for work, the numbers don’t bode well.
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