Obama’s “Socialism” Seems to be Working Out Pretty Well for Capitalists

obamaDow Jones industrial average: 15,105.12

That’s what the Dow closed at today.

Oh, that’s a new record, by the way.  You know what “setting a record” means, right?  As in the Dow Jones industrial average has never been over 15,000 before.

Just for a quick reference, March 9, 2009 the Dow hit its lowest point under President Obama (48 days into his Presidency) of 6,547.05.

To save you from having to do the math I’ve done it for you—it’s an increase of 131% under President Obama.

But that’s not all.  A record number of billionaires made the Forbes 2013 list of the richest people.

Who topped the list of countries with the most billionaires?  That would be the United States.  Out of the 1,426 billionaires on the planet 442 of them live in the United States.

There were 210 new billionaires for 2013. Can you guess which country topped the list with the most new billionaires?  That would be the United States once again with 27 of the 210.

The United states has 31% of the worlds billionaires and 13% of the worlds newest billionaires, again leading every other country in both categories.

Then let’s not forget how we ended 2012 with corporate profits hitting record highs.  But saying “record highs” doesn’t quite do their profits justice.  The Q3 of 2012 saw the highest after-tax corporate profits in United States history, totaling $1.75 trillion for an 18.6% increase over the prior year during the same quarter.

Oh, then there’s always the auto industry posting its best fiscal year since 2007.

But wait, I thought President Obama’s “socialism” would destroy capitalism?

So let me get this straight.  Obama became President in the middle of one of the worst recessions our country has ever experienced.  Republicans warned of the terrors of his economic policies, and how his “socialism” would destroy the United States.

Well, since he became President:

  • We’ve had 38 consecutive months of private sector job growth
  • Created over 6.5 million jobs
  • Reduced our deficits by more than $1 trillion
  • Stocks have crushed their previous records,  improving by 131%
  • The United States continues to lead the world in total number of billionaires and newly created billionaires
  • The American auto industry, once nearly dead, is now thriving
  • Unemployment has fallen from its high of 10% to 7.5%

So looking at these facts…

It sure as hell looks like that “Obama socialism” is working out pretty well for capitalists.

Allen Clifton

Allen Clifton is a native Texan who now lives in the Austin area. He has a degree in Political Science from Sam Houston State University. Allen is a co-founder of Forward Progressives and creator of the popular Right Off A Cliff column and Facebook page. Be sure to follow Allen on Twitter and Facebook, and subscribe to his channel on YouTube as well.


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