Name:   MartiniMan - Subject:   The awesome economy Date:   12/29/2014 2:11:20 PM

While improving thanks to the GOP takeover of Congress there is more work to be done to recover from the last six years of incompetence. Summary below from AT:

While crashing in recent months, gas prices at the pump still averaged this year above the pre-Obama annual averages.

The Deficit for the just-concluded Federal budget year was larger (in both dollar terms and as a percent of the economy) than in the years before the crisis.

Sales of existing homes are weaker than from before the bubble era, and sales of newly-built homes in 2014 was still weaker than all but two of the 45 years (!) leading up to Obama.

The Unemployment Rate for all of 2014 is on pace to be worse than any annual average under Bush and worse than most Clinton years as well. Household Income is 4.5% lower compared to when the previous recession started seven years ago.

The Poverty Rate -- the percent Americans living in poverty -- is worse than any year under Bush and worse than most Clinton years too despite the fact that the elevated Obama government spending for the poor suppresses the real poverty rate.

The economy over the last twelve months ending in September rose by $727 billion (in raw dollars) but only after the Federal Reserve pumped $710 billion into the economy during the same period.

The 120 days it took for the Dow to jump from 17K to 18K gave people some tickles but it is almost five times longer than the 26 days it took for the Dow to jump from 13K to 14K before the last recession.

The Economic Stress Index in Obama's first year was indeed at a devastating record high of 19, yet the Index is closing 2014 at an elevated 8. While this is a big improvement, it is still weaker than the four years leading up the recession (2004-2007) when the Index averaged annually a 5. The same four years under Clinton, the Index averaged a 3 and the same years under President Reagan it averaged a 4.