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McAuliffe Peddles The Clinton-Obama Economic Agenda That Has Failed Virginia

- September 22, 2016

Today, terry mcauliffe will campaign for clinton in virginia

Today, Virginia Governor Terry McAuliffe Will Campaign For Clinton In Charlottesville, Virginia. "On Thursday, Governor Terry McAuliffe will campaign for Hillary Clinton and Tim Kaine in Charlottesville and Attorney General Mark Herring will campaign for Clinton and Kaine in Southside Richmond." ("McAuliffe, Herring To Campaign For Hillary Clinton In Charlottesville, Richmond," Augusta Free Press, 9/21/16)

PERHAPS MCAULIFFE SHOULD BE CONCERNED ABOUT VIRGINIA'S ECONOMIC DECLINE UNDER OBAMA INSTEAD OF CAMPAIGNING FOR FOUR MORE YEARS OF THE SAME UNDER CLINTON

Clinton Gives The Obama Economy An "A" Grade

In An Interview With The Boston Globe, Clinton Gave The Obama Administration An "A" For Its Overall Performance, Adding "I Don't Think He Gets The Credit He Deserves For Saving Our Economy." CLINTON: "I'd give him an 'A.' I don't think he gets the credit he deserves for saving our economy from falling into a great depression, for saving the auto industry which represents millions of jobs up and down the supply chain, for beginning the crackdown on Wall Street abuses with Dodd-Frank, for getting the Affordable Care Act passed, for really being as responsive as he could possibly be given the obstructionism that he faced with the Republicans in Congress." (Hillary Clinton, Interview With The Boston Globe, 10/17/15)

Virginians Are Making Less Money Under Obama

During The Obama Administration, Median Household Income In Virginia Has Fallen $6,750, Or 9.89 Percent, From $68,158 In 2008 To $61,486 In 2015. (Census, Accessed 9/13/16)

  • The Median Household Income In Virginia Fell $4,745, Or 7.16 Percent, From $66,231 In 2014 To $61,486 In 2015. (Census, Accessed 9/13/16)

More Virginians Are Living In Poverty Under Obama

Under Obama, 95,000 More People In Virginia Have Fallen Into Poverty, An Increase Of 11.88 Percent. (Census, Accessed 9/13/16)

"Due To The Recent Recession And Slow Job Growth, Poverty Rates In Virginia Have Seen Small But Steady Increases For Seven Of The Last Eight Years." "Due to the recent recession and slow job growth, poverty rates in Virginia have seen small but steady increases for seven of the last eight years (the rate remained steady at 11.7% from 2012 to 2013)." ("Poverty," Virginia Performs, Accessed 5/31/16)

  • "The Poverty Rate For Virginians Below The Age Of 18 Rose Again In 2014, To 15.9 Percent (From 14.9 Percent The Year Before)." ("Poverty," Virginia Performs, Accessed 5/31/16)

Nearly Half A Million Virginia Children Live In Poverty, About 15 Percent Of Children In The State. "The Annie E. Casey Foundation's annual Kids Count report shows nearly half a million Virginia children are living in poverty. In some areas of the Shenandoah Valley, the numbers are greater than the state average. The report reveals since 2005 the numbers have risen. 15% of children in Virginia live in poverty. In the Valley, Rockingham County matches the state average of 15%, Harrisonburg is at 23%, Staunton at 25% and Waynesboro, is the highest, at 26%." (Isabel Rosales, "Virginia Child Poverty Numbers Rise," WHSV, 7/21/15)

More Virginians Are Living Off Of Food Stamps Under Obama

Under Obama, The Number Of People In Virginia Receiving Food Stamps Has Increased By 32.6 Percent, From 616,644 Residents In January 2009 To 817,945 Residents In June 2016. (USDA Food And Nutrition Service, Accessed 9/22/16)

Less Virginians Own Their Own Homes Under Obama

Under Obama, The Home Ownership Rate In Virginia Has Fallen 6.1 Percentage Points. (Census, Accessed 5/11/16)

Virginia Has Lost Over 22,100 Manufacturing Jobs Under Obama

Under Obama, Virginia Has Lost 22,100 Manufacturing Jobs. (Bureau Of Labor Statistics, Accessed 9/20/16)

Manufacturing Employment In Virginia Declined 0.6 Percent, Or 1,500 Jobs, From March 2015 To March 2016. "The manufacturing sector showed a decline of 1,500 jobs, or a loss of about 0.6 percent, from March 2015 to March 2016." (John Reid Blackwell, "Virginia Unemployment Rate Declined In March," Richmond Times-Dispatch, 4/15/16)

Virginia Has Lost Over 17,800 Construction Jobs Under Obama

Under Obama, Virginia Has Lost 17,800 Construction Jobs. (Bureau Of Labor Statistics, Accessed 9/20/16)

Virginia's Dismal Economic Growth Falls Far Behind Of The Rest Of The Country

In 2015, Virginia's Economy Grew 1.4 Percent. (BEA, Accessed 6/14/16)

  • In 2015, The U.S. Economy Grew 2.4 Percent. (BEA, Accessed 6/14/16)

Virginia's Growth Of 1.4 Percent Is Far From What Is "Considered Strong," Which Is "Somewhere Around 3 Or 3.5 Percent." "It's not an exact science, but growth that's centered somewhere around 3 or 3.5 percent is considered strong in the US. The country hasn't quite attained that level of sustained growth yet since the recession." (Danielle Kurtzleben, "Everything You Need To Know About GDP," Vox, 6/20/14)

VIRGINIA HAS FAILED TO RECOVER FROM THE RECESSION UNDER THE CLINTON-OBAMA ECONOMY AND MCAULIFFE'S LEADERSHIP

According To The National Association Of Counties, 0 Of Virginia's 95 Counties Have "Fully Recovered" From The Recession. ("County Economies 2015," National Association Of Counties, Accessed 5/11/16)

Richmond Times-Dispatch : "The Story Of Virginia's Economy Since The Recession Is Like A 'Shakespearean Tragedy In Reverse.'" "The story of Virginia's economy since the recession is like a 'Shakespearean tragedy in reverse.' That was one of several metaphors used Friday at the Virginia Chamber of Commerce's sixth annual economic summit in Williamsburg." (John Reid Blackwell, "Report Shows Virginia Economy Struggling To Cope With Federal Cuts," Richmond Times-Dispatch, 12/4/15)

CLINTON'S ECONOMIC AND TAX AGENDA PROMISES TO CONTINUE THE TRENDS SET BY OBAMA, AND WOULD "MAKE IT JUST A BIT WORSE"

The Wall Street Journal's James Freeman: "For Everyone Dissatisfied With The Obama Economy, The Clinton Agenda Promises To Make It Just A Bit Worse." "And although the Clinton tax hikes are ostensibly targeting the rich, with proposed changes such as a new surtax on high incomes and a Buffett Rule that sets a minimum tax rate on high earners, the Tax Foundation projects a decline of at least 0.9% in after-tax incomes for all taxpayers due to slower growth. So for everyone dissatisfied with the Obama economy, the Clinton agenda promises to make it just a bit worse." (James Freeman, "Hillary's $191 Billion Tax Increase," The Wall Street Journal. 1/26/16)

Clinton's Tax Plan "Largely Maintains The Tax Code As We Know It Today." "More than any other plan, Clinton's largely maintains the tax code as we know it today. Like Sanders, Clinton targets the wealthy, albeit in much less radical ways than the self-declared socialist." (Linda Qiu, "Politifact's Guide To The 2016 Presidential Candidate Tax Plans," Politifact, 4/7/16)

Clinton's Economic Plan Contains Many Provisions That "Are Carry-Overs From President [Barack] Obama's Budget." "'This is a very incremental proposal,' said Leonard Burman, the center's director, who was a Treasury Department official under President Bill Clinton. 'It's not a major reform. A lot of the provisions are carry-overs from President [Barack] Obama's budget and the new provisions seem to be narrowly targeted at high-income people.'" (Richard Rubin, "Hillary Clinton's Tax Plan Would Raise $1.1 Trillion Over Next Decade, Study Shows," The Wall Street Journal , 3/3/16)

Clinton's Harmful Economic Agenda Will Shrink Virginia's Economy, Lower Virginians' Wages And Cost Virginia Jobs

According To Analysis By The Tax Foundation, Clinton's Tax Proposals Would "Reduce The Economy's Size By 1 Percent." "According to the Tax Foundation's Taxes and Growth Model, Hillary Clinton's tax plan would reduce the economy's size by 1 percent in the long run." (Kyle Pomerleau and Michael Schuyler, "Details And Analysis Of Hillary Clinton's Tax Proposals,"Tax Foundation, 1/26/16)

According To Analysis By The Tax Foundation, Clinton's Tax Proposals Would Result In "311,000 Fewer Full-Time Equivalent Jobs." "According to the Tax Foundation's Taxes and Growth Model, Hillary Clinton's tax plan would reduce the economy's size by 1 percent in the long run. The plan would lead to 0.8 percent lower wages, a 2.8 percent smaller capital stock, and 311,000 fewer full-time equivalent jobs. The smaller economy results from somewhat higher marginal tax rates on capital and labor income." (Kyle Pomerleau and Michael Schuyler, "Details And Analysis Of Hillary Clinton's Tax Proposals," Tax Foundation, 1/26/16)

According To Analysis By The Tax Foundation, Clinton's Tax Proposals Would "Lead To 0.8 Percent Lower Wages. "The plan would lead to 0.8 percent lower wages, a 2.8 percent smaller capital stock, and 311,000 fewer full-time equivalent jobs. The smaller economy results from somewhat higher marginal tax rates on capital and labor income." (Kyle Pomerleau and Michael Schuyler, "Details And Analysis Of Hillary Clinton's Tax Proposals," Tax Foundation, 1/26/16)


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