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SEVEN DEVASTATING ECONOMIC FACTSby WYNTON HALL 17 Jan 2014U.S. economic conditions in 2014 continue to languish, as millions of Americans remain jobless. Seven economic facts underscore America’s increasingly dire economic outlook.1. A Record 91.8 Million Americans Are No Longer in the WorkforceThe latest Labor Department figures reveal that a record 91.8 million Americans are no longer in the U.S. labor force. To be included in the Labor Department's calculations for this statistic, a person must be 16 years or older, a civilian, not in an institution (such as prison), and someone who has not looked for a job in the last four weeks.Minorities have been hit especially hard. As Dean Baker of the Center for Economic and Policy Research noted to PBS, last month’s jobs report also saw “the lowest rate of labor force participation among African-American men since we have kept that count. So that was really striking.”According to the U.S. Census, 317 million people live in the United States.2. Since Jan. 2009, the Number of Jobless Working-Age Americans Has Risen 9.6 Million PeopleAs Michael Snyder notes:The number of working age Americans that do not have a job has increased by nearly 10 million since Barack Obama first entered the White House. In January 2009, the number of "officially unemployed" workers plus the number of Americans "not in the labor force" was sitting at a grand total of 92.6 million. Today, that number has risen to 102.2 million. That means that the number of working age Americans that are not working has grown by close to 10 million since Barack Obama first took office.3. 47.4 Million Americans Now Rely on Food StampsThe Department of Agriculture, which oversees the food stamp program, says that 47,415,895 Americans – roughly one out of every six Americans – now receives food stamps. Indeed, for the last fifteen consecutive months, the number of individuals has consistently stayed above 47 million, a first in U.S. history.Food stamp enrollments, which are considered an indicator of economic distress, have skyrocketed in recent years as the Obama administration has loosened eligibility requirements and aggressively promoted enrollments. In January 2009, 31.9 million people received food stamps.{snip}7. U.S. Debt Now Stands at over $17.3 TrillionAmerica’s federal debt explosion continues unabated. In Jan. 2009, the national debt was $10.626 trillion (10,626,000,000,000). Today, America’s national debt stands at over $17,300,000,000,000.
