More On Obama’s Legacy

Growth of Federal DebtDouglas Elmsdorf, Director of the Congressional Budget Office, in Congressional testimony today:

We expect that federal debt held by the public will amount to 74% of GDP at the end of this fiscal year, more than twice what it was at the end of 2007, and higher than in any year since 1950.

In 1950, of course, we were still paying off the ravages of World War II. Now, and in the future, we are and will be paying for the ravages of Obama.

Decline of Middle ClassReuters:

(Reuters) – Barack Obama enters the final two years of his presidency with a blemish on his legacy that looks impossible to erase: the decline of the middle class he has promised to rescue….

Federal Reserve survey data show families in the middle fifth of the income scale now earn less and their net worth is lower than when Obama took office.

[ADDED 1/28: Daniel Henninger notes in his Wall Street Journal column that “median, inflation-adjusted household income has fallen, from about $54,000 in 2008 to below $52,000.”

UPDATE

Growth of al-Queda: Four-star retired Gen. Jack Keane, testifying before Senate Armed Services Committee today:

… al-Qaeda has “grown fourfold in the last five years.

UPDATE 3 Feb.

Nearly 1 MILLION border-crossing illegal immigrants have received US work permits:

More than 957,000 immigrants who crossed the U.S. border illegally have received work permits since Barack Obama became president, a shocking report revealed on Monday.

The Center for Immigration Studies uncovered documents through a Freedom of Information Act request, showing that more than 5.5 million new work permits were issued to aliens overall from 2009 to 2014.

That was more than the number of green cards – lawful permanent residence authorizations – and temporary worker admissions in those years.
The organization called it ‘a huge parallel immigrant work authorization system outside the limits set by Congress that inevitably impacts opportunities for U.S. workers, damages the integrity of the immigration system, and encourages illegal immigration.’

The 5.5 milliion number also includes 1.8 million work permits given to to immigrants with temporary visas or visa waivers. And two-thirds of those held visas that did not permit employment in the United States.

 

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