Millions of Americans have gained health insurance because of Obamacare, and the number signing up for Medicaid keeps rising. Just over 8 million signed up for Obamacare, with at least 7.9 million added to Medicare.
The exact number of newly insured won't be known for some time. Those signing up for private insurance in Obamacare marketplaces for 2015 will find 25 percent more insurance companies competing for their business. Marketplace premiums for 2015 are averaging 0.8 percent lower than this year, with 25 percent more insurance companies offering health plans through the exchanges for 2015.
Median household income declined 4.6 percent during Obama's first five years. Census reports showed that although nearly 1.2 million fewer people were living in poverty in 2013 than in 2012, the number still remains nearly 5.5 million higher than in 2008. The official poverty rate dropped 0.5% in 2013, but it still remained 1.3% higher than in 2008.
The federal debt held by the public is now nearly 103 percent higher than it was the day Obama first took office. The "total" debt, which includes money the government owes to itself, has gone up by more than 68%. Both figures are staggering, but are not entirely Obama's fault. As FactCheck has previously noted, the FY2009 federal deficit was running at a rate of $1.2 trillion on the day he took office in the midst of a financial crisis. A fact that may surprise Obama's critics is that Obama's spending increases have been historically modest - much smaller than his predecessor's, and well below the rate of inflation. Federal spending in the current fiscal year, which ends this month, is running only 7.9 percent higher than it was when the president took office. Federal outlays rose nearly 33 percent during the first four fiscal years for which Bush signed the appropriations bills.
This year the economy is adding jobs rapidly and paychecks are rising faster than inflation at last. Real weekly earnings for workers, adjusted for inflation, averaged 0.7 percent higher in August than when Obama entered office. The total number of jobs in September was nearly 5.5 million higher than when Obama was first sworn in. The official unemployment rate had dipped to 5.9%, which was 1.9% below where it was when he first took office. Four times more jobs have been added under Obama than were gained in George W. Bush's eight years in office. The Obama years have brought dramatically better times for corporations and their stockholders. Corporate profits (after taxes) reached amore than $1.8 trillion in the second quarter of this year, the most recent figures available. That was 174 percent higher than the quarter before Obama first entered the White House. The NASDAQ is up 208%, S&P 142%, and DJIA 111% during Obama's tenure.
Under Obama, U.S. crude oil production has increased by 70 percent, while oil imports have gone down by more than half comparing the April-June quarter of 2014 with the last three months of 2008. During the same period, net imports of petroleum have gone down by 51 percent. The US imports 28.3% of its oil currently , compared to 57% in 2008. Wind and solar power production for the last 12 months (ending in July) was 241 percent higher than the total for 2008, spurred in part by large federal tax subsidies for wind and solar generation, all supported by Obama.
New figures show annual handgun production has nearly tripled under Obama, rising by 184 percent as of last year.
Chip Tuthill lives in Mancos. Website used: www.factcheck.org