Obama must love the poor because he's making so many of them

We now have confirmation that Barack Obama truly loves poor people. Because he is creating so many of them.

The Census Bureau reports that America suffers with more people in poverty now than ever before in its history of reporting on poverty -- 44 million. That's up nearly 4 million in the last year alone, with the poverty rate shooting up to 14.3%. One in seven Americans now suffers in poverty.

That follows the report that foreclosures hit their all time high in August, up 25% over a year earlier in August, 2009. As Stephen Meister reported in Monday's New York Post, "That makes the ninth straight month repos have increased on a year over year basis."

Before that was the August jobs report, which showed the economy still losing jobs, and the unemployment rate still rising, up to 9.6%, 32 months after the recession began. Nearly 15 million remain unemployed, with over 6 million long term unemployed for 6 months or more, the highest since the Great Depression. Also still rising in August was the nearly 9 million stuck working part time for economic reasons, up another 331,000. Another 2.4 million "wanted and were available for work, and had looked for a job in the prior 12 months," but had given up. That makes 26.2 million Americans unemployed or underemployed.

On Monday, the National Bureau of Economic Research declared that the recession had technically ended in June, 2009. But with the average recession since World War II lasting 10 months, and the longest previously lasting 16 months, this sorry record above 32 months after the start of the recession only shows how badly Obamanomics has failed the American people.

Moreover, the economic growth we have experienced has been less than half the growth we have enjoyed after similarly severe downturns. The economy grew by 7.7% in the first four quarters of Reagan's recovery in the early 1980s. Even under President Ford, real GDP grew by 6.2% in the year after the 1974-75 recession. Yet, under President Obama's policies, economic growth is again in a tailspin already, falling from 5% in the fourth quarter of 2009, to 3.7% in the first quarter this year, to 1.6% in the second quarter, portending a renewed, double dip recession. That double dip is a lock if the crazy, Obama/Democrat tax piracy increases go through next year.

Indeed, a year after the recovery supposedly got under way, GDP still remains below its last previous peak in the fourth quarter of 2007. By contrast, in the Reagan recovery, the economy soared past its previous peak in 6 months. The boom then lasted effectively for another 25 years, which we are not going to see this time. Not until Obama is removed from office, and his policies reversed, with Reaganomics restored.

Most recently, somehow Obamanomics now seems to be reviving inflation as well, with prices for gold and silver last week rising to record levels. We haven't seen that stagflation since Jimmy Carter's 1970s, the last time the throwback Keynesian economics at the center of Obamanomics was in power.

Soon exceeding even this disgrace of Obamanomics will be the disgrace of Obamacare. As the lies told to win passage of President Obama's national health care takeover are now becoming exposed, the Administration is resorting to authoritarian measures to cover them up.