In the economy Obama says has recovered, actually just 7% of counties have

posted at 3:21 pm on January 13, 2016 by Jazz Shaw

During his State of the Union address, the President said that the United States has “the strongest, most durable economy in the world.” It was a clear shot across the bow at those who might not be feeling the love at the moment and critics who don’t see things through rose colored glasses. So how is the recovery going? The unemployment rate as defined by the Department of Labor is certainly back down to a manageable number, but that doesn’t really speak to the factors which affect people in their day to day lives.

The Wall Street Journal took at look at the data this week (assembled by the National Association of Counties) and they arrived at a somewhat different conclusion. They examined factors including the total number of people who are actually working, wages and property values. Broken down by county, not even 10% of the nation is back where it was before the crash of 2007 and 2008.

More than six years after the economic expansion began, 93% of counties in the U.S. have failed to fully recover from the blow they suffered during the recession.

Nationwide, 214 counties, or 7% of 3,069, had recovered last year to prerecession levels on four indicators: total employment, the unemployment rate, size of the economy and home values, a study from the National Association of Counties released Tuesday found…

“Americans don’t live in a single economic place,” said Emilia Istrate, the association’s director of research and outreach and one of the study’s authors. “It tells you why many Americans don’t feel the good economic numbers they see on TV.”

Hey, but at least some of the counties have recovered, so that’s good, right? Barack Obama clearly seems to be willing to take credit for that. But where did the decent bits of recovery really take place? Anyone who’s been paying attention to the news won’t be shocked at these figures.

As was the case in 2014, when just 65 counties had fully recovered, most of those that bounced back are in states benefiting from the energy boom. Last year, 72 of the recovered counties were in Texas, the most of any state. Nebraska followed with 22. Minnesota, Kentucky, North Dakota, Montana and Kansas each had at least 10 fully recovered counties.

Meanwhile, in 27 states, not a single county had fully recovered.

So out of 214 counties that recovered in all four categories, 94 of them were found just in Texas and Nebraska. That’s nearly half. More than fifty more of them came primarily from places where heavy fracking and other energy extraction is taking place. With that in mind, Obama might not want to be taking too much credit. In fact, the recovery we’ve experienced – such as it is – has come largely from the energy sector so one could fairly say that it was taking place not because of Barack Obama, but in spite of him.

That could go a long way toward explaining why national approval levels of the President’s handling of the economy are still underwater in double digits. You can post some sunny numbers and give a flowery speech, but when people are still struggling financially in their daily lives and their houses are still worth less than they paid for them they probably aren’t going to buy into the hype.

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Comments

No one shouted “You lie”, the truest ever said about the traitor.

Schadenfreude on January 13, 2016 at 3:28 PM

Lucas County Ohio hasn’t recovered.

rbj on January 13, 2016 at 3:31 PM

Ignore that smoke and intense heat, everything is fine, your house isn’t on fire, it’s your lying senses. Just believe whatever I tell you and you will be fine. And oh, shut up.

Andy__B on January 13, 2016 at 3:32 PM

Working link…

In which she throws jabs at Jeb and Rubio…

waringrt on January 13, 2016 at 3:33 PM

This last year of Obama will not be a good year for Obama.

albill on January 13, 2016 at 3:33 PM

Working link…

Is this GOPe talk?

waringrt on January 13, 2016 at 3:33 PM

There never was a recovery from the recession, just a new normal that made us all poorer.

NotCoach on January 13, 2016 at 3:34 PM

My bad on the multiple posts. Long time reader, first day commenting.

waringrt on January 13, 2016 at 3:35 PM

With a lowest work force participation rate in 35ish years, what does “fully recovered” mean???

An expanded credit limit?

WryTrvllr on January 13, 2016 at 3:35 PM

Looks like obama is the one peddling fiction. Shocker.

HumpBot Salvation on January 13, 2016 at 3:36 PM

And in the wrong thread… haha epic fail

waringrt on January 13, 2016 at 3:36 PM

The unemployment rate as defined by the Department of Labor is certainly back down to a manageable number, but that doesn’t really speak to the factors which affect people in their day to day lives.

Particularly when the long-term unemployed are reclassified as ‘non-persons’ and just not counted by the government when they want to spin a tall tale. Everyone forget the near 40 year low in the labor participation rate? Or the nearly 95 million not working? What’s the current unemployment rate of blacks? Blacks between the ages of 16 and 30? What’s the U-6 number?

Then there are the stagnant wages. The transition of far too many from full-time employment to part-time employment. Housing hasn’t fully recovered from the 2008 bubble bursting, but this Administration is fully vested, in the name of ‘social justice’, to do exactly what was done in the Clinton Administration to grow a new subprime mortgage bubble.

The stock markets, boosted from 4 different efforts of QE, is down another 300+ (DJIA) at this moment, while the Atlanta Fed contends that the 4th Qtr GDP grew at just a 0.8% annualized rate.

You can post some sunny numbers and give a flowery speech, but when people are still struggling financially in their daily lives and their houses are still worth less than they paid for them they probably aren’t going to buy into the hype.

No, if they have a brain, they will buy into the hype. But too many will buy into the same empty promises that Obama spewed in 2008 and since about ‘justice’, ‘fairness’, and ‘equality’. ‘Hope and Change’. ‘Free stuff’. But promise them ‘happiness’….

“The choice for mankind lies between freedom and happiness and for the great bulk of mankind, happiness is better.”
― George Orwell, 1984

Athos on January 13, 2016 at 3:40 PM

So out of 214 counties that recovered in all four categories, 94 of them were found just in Texas and Nebraska. That’s nearly half. More than fifty more of them came primarily from places where heavy fracking and other energy extraction is taking place.

… and many of those will soon be returning to recession, as the inevitable boom/bust cycle returns the oil and gas industry to Earth. Which will leave us with even less to show for this “recovery.”

DaveatGarfieldRidge on January 13, 2016 at 3:42 PM

the unemployment rate is a sham, since they don’t count those who are longterm without work, and are now in the 94 MILLION who are not in the labor force.

Senator Philip Bluster on January 13, 2016 at 3:43 PM

Well at least obama’s donors have made out like bandits.

HumpBot Salvation on January 13, 2016 at 3:44 PM

There never was a recovery from the recession, just a new normal that made us all poorer.

NotCoach on January 13, 2016 at 3:34 PM

Exactly right.
Inflation is up on everything and wages/jobs in the toilet.
I’ve struggled and still am to keep my business, home and healthcare I need-for the last 7 yrs. So is everyone else I know.
I’m in Fl..we got hammered by the housing market collapse. Still underwater.

bazil9 on January 13, 2016 at 3:45 PM

The Obama administration is famous for ignoring reality, so this pretty much fits.

Johnnyreb on January 13, 2016 at 3:46 PM

The unemployment rate is a lie..

bazil9 on January 13, 2016 at 3:47 PM

Still at the same salary I was in 2014. Pay freezes two years in a row now.

Thanks Obama.

Defenestratus on January 13, 2016 at 3:47 PM

Lets not forget all the industry jobs that keep
an employee from working a full 40 hr work week so they can avoid paying
for health ins. That would be many people I know here in Fl in the hospitality business.

bazil9 on January 13, 2016 at 3:51 PM

If we all get a pony, does it come with a lifetime supply of hay? Because otherwise, that free pony really turns out to be a money pit in disguise.

In other words, a typical liberal thing to do: force us all to have the “freeeeeee!” stuff that costs an arm and a leg and probably cannot be sold.

Vanceone on January 13, 2016 at 3:52 PM

Here a hint America: study robotics.

DarkCurrent on January 13, 2016 at 3:56 PM

B9

All spot on points….I wished these politicials and network/cable pundits spent time with regular people and talk to them.

CoffeeLover on January 13, 2016 at 4:04 PM

B9

All spot on points….I wished these politicials and network/cable pundits spent time with regular people and talk to them.

CoffeeLover on January 13, 2016 at 4:04 PM

I believe they know the truth…they just don’t care. IMO.

bazil9 on January 13, 2016 at 4:06 PM

WoooHoooo!!!

Down 364$.

Reset in the works! Or, you can study robotics.

WryTrvllr on January 13, 2016 at 4:08 PM

(any alcoholic will tell you you have to hit bottom first)

WryTrvllr on January 13, 2016 at 4:09 PM

But everyone gets a pony

No, just the 7%. The rest of us just get the pile of horsehocky.

GWB on January 13, 2016 at 4:15 PM

bazil9 on January 13, 2016 at 4:06 PM

lol, certainly possible. I just think think they are all in big bubbles.

CoffeeLover on January 13, 2016 at 4:16 PM

Still at the same salary I was in 2014. Pay freezes two years in a row now.

Thanks Obama.

Defenestratus on January 13, 2016 at 3:47 PM

“I didn’t get a raise! Fuck the POTUS! I deserved that raise!”

America is lost

DarkCurrent on January 13, 2016 at 4:16 PM

And how will those 7% fare now that the energy sector is collapsing. I don’t blame BO for that but if he tries hard maybe we can get that down to 3% before is leaves!

OBQuiet on January 13, 2016 at 4:31 PM

Better than the Bush economy.

He is leaving the economy in better shape than he found it.

weedisgood on January 13, 2016 at 4:35 PM

Better than the Bush economy.

He is leaving the economy in better shape than he found it.

weedisgood on January 13, 2016 at 4:35 PM

an extra 10 trillion in debt?

WryTrvllr on January 13, 2016 at 4:40 PM

a widened income gap?

WryTrvllr on January 13, 2016 at 4:40 PM

Solyndra! Tesla! Ivanpah!!!!

we’re all good.

WryTrvllr on January 13, 2016 at 4:42 PM

“But everyone gets a pony…”

And a participation trophy!

Amendment X on January 13, 2016 at 4:52 PM

This last year of Obama will not be a good year for Obama.
albill on January 13, 2016 at 3:33 PM

Really?
obama will travel the word on our dimes, and he will enjoy issuing executive orders that further trample our Constitution. He will push us further into debt and further weaken our military. Then obama will cap off another great year by releasing thousands more convicts. I wouldn’t be surprised to see obama go out with some “first ever” “no longer president” balls.

GaltBlvnAtty on January 13, 2016 at 4:53 PM

Drats, Ohio just missed the 10 county cutoff with 9.

And how will those 7% fare now that the energy sector is collapsing. I don’t blame BO for that but if he tries hard maybe we can get that down to 3% before is leaves!

OBQuiet on January 13, 2016 at 4:31 PM

Not all of the counties are related to energy/commodities, San Fransico, Austin, San Antonio, Minneapolis, Madison (WI), Grand Rapids, Columbus, and maybe Louisville have recovered. That’s about 50 counties, so you know that’s almost 2% of the country to have recovered without Obama’s hated fossil fuel production surge (or other commodities).

Better than the Bush economy.

He is leaving the economy in better shape than he found it.

weedisgood on January 13, 2016 at 4:35 PM

Oh how I get a chuckle every time a lefty is reduced to defending their lightbringing messiah, scourge of the rising oceans, healer of the planet, Allah/Gaia/God’s gift to the spoken word, peacebringer by name alone, untouchable grandmaster of 3D chess, etc. as merely “at least better” than the Bushy-mc-chimp-hitler, someone barely above the IQ of mental retardation and the worst leader in the history of the universe (if one were to believe the left). 2008 was so long ago, in many ways.

jarodea on January 13, 2016 at 4:57 PM

When Preznint Sh!t Midas bragged about his great economic miracle brought down from heaven by himself last night, I posted that the DOW would lose 1000 points today. only lost 400.

jukin3 on January 13, 2016 at 5:04 PM

“Iraq will be one of Obama’s greatest achievements.”
Joe “Paste Tastes great” Biden

“The economy will be one of my greatest achievements.”
B. Heussein Obama

jukin3 on January 13, 2016 at 5:07 PM

The U6 unemployment rate is still near where it peaked in the previous recession.

agmartin on January 13, 2016 at 5:08 PM

He is leaving the economy in better shape than he found it.

weedisgood on January 13, 2016 at 4:35 PM

Right. The USA was the world’s largest industrial nation, largest trading nation and had the largest GDP when Obama took office…

DarkCurrent on January 13, 2016 at 5:09 PM

Interestingly, I was going to post without reading the article and guess that all of the counties that saw a recovery were wealthy liberal counties surrounding Washington, D.C….

Madcap_Magician on January 13, 2016 at 5:14 PM

wh bother, f it, i’m voting for Trump.

losarkos on January 13, 2016 at 5:28 PM

Better than the Bush economy.

He is leaving the economy in better shape than he found it.

weedisgood on January 13, 2016 at 4:35 PM

.
Dood, there are too many economically literate commenters here for you to get away with that. The “Bush economy” was solid for six years, until Lehman Bros. (you, know, one of Chuckie Schumer’s donors) took a missive hit on CDOs backed, unsubtanstially, by AIGs Credit Default Swaps – they had trillions in obligations they were never going to be able to pay off. If you don’t understand “credit,” in all its ramifications, both corporately and personally, then you will never understand that the 2008 economic collapse was the fault of banks, the Securities & Exchange Commission, and Democrat “easy credit” policies developed during the Clinton Administration (CRA). Now we have another ignorant corrupt Clinton who wants to get her hands on the levers of government to enrich a few at the expense of millions. Not gonna happen.
.
A ham sammich could have taken credit for what little economic improvement has occurred under the Obama Administration and I have it on good authority (generally lefty trolls) that economic improvement or dysfunction is never to the credit or fault of a single president. If you disagree with that, you can just hang a “I’m a Lefty Ideologue” sign around your neck and continue to look “stoopit.” Democrats generally don’t understand what kind of danger we are in, right now. How can one country be in debt to the tune of $20 Trillion and unfunded liabilities of another $100 Trillion (at least!) and avoid, sometime in the future, a massive economic collapse that will destroy the world economy for decades if not nearly a century? We have debt greater than our annual GDP!
.
I snicker at your comments a lot because you are so pompous and ignorant but I thought you should at least get the benefit of knowledge that other people have beyond “Bush destroyed the economy.” If you were anywhere near talented, you wouldn’t issue the ignorant bumper stickers that you do here, every day. Good luck with your no-talent life.

ExpressoBold on January 13, 2016 at 5:47 PM

And in the wrong thread… haha epic fail

waringrt on January 13, 2016 at 3:36 PM

Relax,try and simmer down. It’s just a blog. No doubt a good one but nearly everyone here is sane and cool. Don’t be a troll and you will fit right in.

docflash on January 13, 2016 at 6:36 PM

ExpressoBold on January 13, 2016 at 5:47 PM

The only additional observation I would make would be, as you list key players in the 2008 economic collapse, two major contributing entities were omitted. Fannie Mae and Freddie Mac.

Not only were they instrumental in the implementation of the Democrat ‘social justice’ ‘engineer the economy’ efforts that had it’s roots in the Clinton era CRA, but they were also instrumental in spinning subprime / garbage mortgage-based securities as AAA.

And speaking of Fannie and Freddie – is another taxpayer funded bailout needed?

Athos on January 13, 2016 at 6:46 PM

Athos on January 13, 2016 at 6:46 PM

.
You are absolutely correct on all points, further emphasizing the fact the the 2008 collapse was a “credit recession” not an “inventory recession.” Thanks for reminding me of Fannie and Freddie and let me also mention another “credit player,” the corporate credit rating agencies (Moody’s, Standard & Poor’s and Fitch). (Sorry the link is HuffPo but the article is actually pretty good.) To just slam an individual president on economic performance is too ignorant not to call out. Obama is speaking to simpletons when he claims economic gains that are not present or are, at best, a matter of interpretation because the reality is not as rosy as has been described.
.
Anyway, thanks for reminding me of the credit oversight that contributed so much to the 2008 recession.

ExpressoBold on January 13, 2016 at 7:16 PM

Here in Ohio, the report lists 9 fully recovered counties (out of 88) but none of them have anything to do with the energy boom or fracking. In fact, 7 of the 9 include Franklin County (Columbus, the state capital, and the center of the state’s fastest-growing metro area) and 6 other counties contiguous to Franklin County.

Humphrey on January 13, 2016 at 7:26 PM

Here a hint America:
DarkCurrent on January 13, 2016 at 3:56 PM

Werk on your Engrish.

CWforFreedom on January 13, 2016 at 7:49 PM

The economy in my area has improved considerably, but it had nothing to do with anything Obama did. Recreational vehicle manufacturing is a major part of our local economy, and their sales are strongly influenced by gas prices. Gas prices go up, their sales go down; gas prices go down, their sales go up. If Obama had had his way, gas prices would have gone up, not down, and the economy around here would still be in the toilet.

chaz1944 on January 14, 2016 at 11:46 AM