Although President Barack Obama remains as always a very eloquent public speaker and he appears to be a warm and interesting person to many people, his critics are highlighting problems with his economic policies which could create mass hysteria across the United States and worldwide. Money News reported on Sept. 6, 2013, "Employment Gap Between Rich, Poor Widest on Record Under Obama."
According to an analysis of government data which was conducted for The Associated Press, the gap which exists in employment rates between America's highest and lowest income families has widened to its greatest levels since officials began tracking this data a decade ago.
The rates of unemployment for the lowest-income families, which is those earning less than $20,000, have gone above 21 percent, which nearly matches the rate for all workers during the 1930s Great Depression. Meanwhile, U.S. households which have an income of more than $150,000 a year have an unemployment rate of 3.2 percent, which is a level traditionally defined as full employment.
ABC News has also covered this Associated Press story, reporting that more and more middle-income workers are being pushed into lower income jobs. These workers are displacing lower-skilled, low-income workers, who are becoming unemployed or who are being forced to work fewer hours. Andrew Sum, director of the Center for Labor Market Studies at Northeastern University, has said, "One part of America is in depression, while another part is in full employment."
This is a pathetic state of affairs for the country with it appearing the wealthiest sectors of the nation blinded to the realities of what the long term consequences of this set of circumstances may be. The United States is actually turning out to be an emerging third world country with more people than ever starving in the streets while the small percent of highest income families dine on caviar, lobster and French wine at fine restaurants.