Wow. Read this from the White House website's autobiography of Bill Clinton [emphasis mine]:
During the administration of William Jefferson Clinton, the U.S. enjoyed more peace and economic well being than at any time in its history. He was the first Democratic president since Franklin D. Roosevelt to win a second term. He could point to the lowest unemployment rate in modern times, the lowest inflation in 30 years, the highest home ownership in the country's history, dropping crime rates in many places, and reduced welfare rolls. He proposed the first balanced budget in decades and achieved a budget surplus.Bill Clinton managed to do what no Democratic president had done in half a century. Using the same criteria, what do Barack Obama's reelection chances look like?
- Unemployment - The unemployment rate has been above 8% for 42 consecutive months, the longest period of sustained high unemployment since the Great Depression. (Forbes) The median length of unemployment is now 19.4 weeks — also nearly double from what it was in January 2009. (IBD)
- Inflation - Real inflation rate above 8%; gas prices up 83%. (NY Post)
- Home Ownership - Census reports the national home ownership rate at 65.4% is the lowest in 15 years. African American home-ownership under Obama has fallen 30 percentage points below white home ownership, the biggest difference in 20 years, and one of the biggest on record. (Forbes)
- Crime – Bright spot! Despite hard economic times, crime continues to decline. (WSJ)
- Welfare Rolls - An all time record of 47% of Americans are now government dependents receiving some form of government benefits. (Forbes) Food Stamp rolls increased 46% from January 2009 to June 2012. Total individuals receiving food stamps as of June 2012 is 46,670,373, largest number ever. (USDA)
- Budget - "For the fourth year in a row, Washington faces a $1 trillion-plus deficit[.]" (Politico)
I've been arguing since January that President Obama's chances of reelection are virtually nil. But now I've got the White House backing me up!