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Why we can kiss the US economy goodbye

I don’t mean to say, “I told you so.” But I told you so.

In my latest book, “The Ultimate Obama Survival Guide: How to Survive, Thrive, and Prosper During Obamageddon” I listed hundreds of statistics proving that the U.S. economy was headed for total collapse. But that was all written months ago. Unfortunately, the worst was yet to come.

The results are in. The picture is grim. Here are some frightening economic numbers to think about the next time the lying, manipulating, mainstream media tells you that we are in “recovery.”

First, almost 50% of Americans have less than $500 in savings. Not surprisingly 1 out of 3 residents of Obama’s home state of Illinois live in poverty. A mind numbing 4 of 5 Americans are either experiencing poverty, foreclosure or welfare, or will in their lifetime. Four out of five.Say goodbye to the myth of the American Dream. It’s only a nightmare now.

Ditto for the American middle class. Obama has massacred them. Our middle class now ranks 27thin the world. 

I’ve argued from day one that Obama’s goal was to create a two class society. The two classes are the super-rich (who are beholden to Obama for corporate welfare, bailouts, and government contracts), and the poor (who are beholden to Obama for checks to survive). Look no further than the new immigration bill to see the final destruction of middle class wages.

More grim news just in: Auto sales are collapsing. Construction jobs are falling off a cliff. And U.S. factory orders just suffered the biggest drop in a year.

Almost 80% of the jobs created in Obama's America are part-time jobs that won’t pay the bills of an average middle class lifestyle.

What about jobs? Isn’t that picture getting rosier by the minute? 

Well actually, no. Let’s analyze the REAL numbers: Since the start of 2013 we’ve gained 953,000 jobs, but amazingly 731,000 of them are crummy low-wage part time jobs. That means almost 80% of the jobs created in Obama's America are part-time jobs that won’t pay the bills of an average middle class lifestyle.

High quality jobs under Obama they are losing out by 10 to 1 versus crummy low-paying jobs. Facts don’t lie: So far this year over 246,000 low-paying waiter or bartender jobs have been added to the U.S. economy, versus only 24,000 high-paying manufacturing jobs.

How bad is it? Well here’s a Hall of Fame Triple Play:

The Obama administration just hired a company to promote ObamaCare over the phone to Americans -- guess what? Even those jobs are part-time, with no health insurance!

The head of the IRS just testified in front of Congress that he’d rather keep his own health insurance, rather than switch to ObamaCare. The IRS is in charge of ObamaCare, and even they don’t want any part of it.

And, the second biggest employer in America is now a temp agency! 

Good luck looking for a quality job in this Obama economy.

Still not convinced? 

Food stamp rolls are growing seventy-five times as fast as employment. The national debt has increased by 50% under Barack Obama. Obama promised to reduce health insurance bills for an average American family by $2,500 per year, instead your health bills went up by $3,000 per year. 

Meanwhile, labor participation by men is at the lowest rate ever measured – since they started tracking it in 1948. And here’s the clincher: 90 million able-bodied, working-age Americans are not working.

And if you think help is on the way, I've got a bridge to sell you ... in Detroit. The biggest American city to ever go bankrupt, Detroit, has been run by Democrats since 1962. That's over half a century of 100% Democrat rule, using the exact same policies as Obama. 

The city is now in ruins. Detroit leads the nation in illiteracy, welfare, food stamps, violent crime, murder, abandoned properties, and broken street lights.

The city of Detroit’s downfall is built around four core ideas: never-ending entitlement spending, the most government employees per capita of any city in America, monstrous debt, and the highest property taxes in America. 

But wait, isn’t that Obama’s exact prescription for the nation? High taxes, more spending, more debt, and more government employees. Bingo. Help isn’t coming folks. The cavalry isn’t riding in to save us. They are coming to destroy us.

Detroit is certainly the future of America under Obama. It’s the exact same policies. We are experiencing Groundhog Day -- doing the same stupid things, and expecting a different result.

One last morsel of food for thought: The EU is in the middle of a Great Depression. Countries like Spain, Portugal, Italy, France, Greece and Cyprus face total disaster. Their economies are ruined for generations to come. 

Yet America under Obama now has more debt than every country in the European Union-combined. Our country has more government debt than any country in the history of the world.

Say goodbye to the U.S. economy. It’s been nice while it lasted.

Wayne Allyn Root is a Capitalist Evangelist, serial entrepreneur, conservative national media commentator, and proud champion of the middle class. He is a former Libertarian vice presidential nominee, now back to the GOP. Wayne's latest book is "The Murder of the Middle Class" (Regenery 2014).  For more, visit his website: www.ROOTforAmerica.com. Follow him on Twitter@WayneRoot.