Exactly four years ago this month, the bottom dropped out of the U.S. economy.
Lehman Brothers declared bankruptcy on Sept. 15, 2008. The next day, the Federal Reserve announced a bailout of AIG. Bad news continued to pile up almost daily, with the stock market collapsing and millions of jobs vanishing.
No single factor will define such a complex process as selection of a president, but none might be greater than the simple question: Are you better off than four years ago?
In Rhode Island, the state unemployment rate in August was 10.7 percent, the second highest in the country only to Nevada's 12.1 percent. Nationwide, unemployment was at 8.1 percent in August 2012.
Sales of single family homes in Rhode Island in August 2012 saw a 22 percent increase from August 2011, according to RI Living.
"Overall, another favorable month for the Rhode Island real estate market," said Jamie Moore, 2012 President of the Rhode Island Association of Realtors. "Sales are up, prices are rising, and despite a few ups and downs, the distressed market has become less significant throughout the year."
Are you better off than you were four years ago? Or is your financial life the same or worse? Can you credit a presidential administration with business' success or failure or is the state of business left to business leaders? Let us know in the comments section.
pferd
7:26 am on Monday, October 1, 2012
The only thing good about this administration is that hopefully they get kicked out this November.
Everything is worst than it was - he is the worst president in the history of the nation. And ironically he has done NOTHING for the poor and the MIDDLECLASS
Example Gas was under $2. NOW $3.90
Thank you Obama with your misguided policies in everything
John M
7:28 am on Monday, October 1, 2012
If Obama is reelected,we will all meet at the soup line.
Jack
7:44 am on Monday, October 1, 2012
Better than before.....BEFORE 2 wars (unfunded), country in middle of a depresion, binLadin alive, NOW jobs are coming back, your kids are covered on your medical until 26, 1 war with a set ending, stock market is back, auto industry is going strong and all that with a Republican congress who refuse to help the middle class.....senate even filabustered a bill that was fully paid for to help our troops get jobs when they return home......the biggest problem we have is the Republican House followed by many in the Senate who cater to the rich, subsidies for oil is bull....read the facts not the crap that our local GOP boys print here
Good Year
8:26 am on Monday, October 1, 2012
Right out of the democrat playbook. You forgot about how the republicans are trying to destroy social security and medicare, tossing the seniors out onto the street. The fact of the matter is that you just can't keep printing and spending money. Thanks to this president our children will be stuck with trillions in taxes. The democrat war on religion and their attacks on anything traditional is disgraceful.
John M
12:57 pm on Monday, October 1, 2012
Obama is a good con artist and the shame of it all,is that some people still
believe him;Wake up America;;;;;;;;;;
Chmn
3:38 pm on Monday, October 1, 2012
Yes, I be better off. I got me some food stamps and SSI. I had a job four years ago, now I aint got to work no mo. Thanks Obama!
Karen Day
5:51 pm on Monday, October 1, 2012
How ironic, on the first of the month, that this issue should arise. I say that beause today I waited in line at a mini mart, behind the baby mammas that got their Welfar Card charged a midnight. Most complaining that they have to wait a month to "get their money."
First, for those that support Obamacare you should know that many Doctors and Hospitals have already stopped taking Medicare patients. Second, as a business owner, with only two (2) employees, I pay $1800+ per month in FICA taxes. In addition, for every $1.00 I spend in Salary,it actually costs me $1.60. $0.30 for FICA and $0.30 for Workers Compensation. Why the hell on earth would, or could I hire anyone or give anyone raise.
Bottom Line- If you haven't run a business, you have NO business running a Country.
John M
6:23 pm on Monday, October 1, 2012
Karen I agree with you 100%
Karen Day
6:41 pm on Monday, October 1, 2012
Thank you John.
Joe Sousa
8:08 pm on Monday, October 1, 2012
The only reason I am better off is because of my conservative life style. I worked hard saved money and paid my mortgage off ten years early. Bought a used truck, not new. Paid cash, never credit. Took staycations instead of vacations.
If the Tax and Spend Congress would do the same our Country would be booming. The sixteen trillion dollar National Debt is dragging our country down. Spending by both sides have ruined our nations as our dollar buys less and less. When the bill comes due, and it will be soon, things will get even worse.
bimbels
10:41 pm on Monday, October 1, 2012
Staying on topic and answering the actual question of this article as to how I am personally effected - yes, I am better off. I work for a large corporation and my work group has gotten a small raise 3 years in a row (though I am still not back my pre-9/11 overall compensation), my 401K is booming thanks to the current stock market, and my home value has increased.
Seagirl
1:09 pm on Tuesday, October 2, 2012
I work for one of RI's top employers and I haven't had a raise in over 4 years and they no longer contribute to my retirement plan. I lost a ton of money in this economy. I survive because like Mr. Sousa, I have always lived below my means, took out a mortgage I could afford even when approved for much more, drive a reliable car and don't feel I "deserve" anything that I don't earn. So, I will forgo a new cell phone President Obama, my kids sure in hell better be self sufficient waaaay before age 26 as they will not be on my health insurance that long, and I will teach them that they can achieve the American dream if they work hard and love their country like so many patriots before them.