Obamanomics: Americans lose 40% of their wealth under Obama

Glenn has spent the last few days saying that we are on the verge of a victory – that the wheels are coming off for the other side, and we will emerge victorious. Despite the optimism, the economy is still tanking, unemployment is sky high, and deficits are soaring.

In case that’s not bad enough, the Federal Reserve now estimates that Americans net worth has dropped 40% between 2007 and 2010 from $126,000 to $77,000. In 2010, the median income in the United States fell 8% from $44,800.

The median income for average, private sector Americans has fallen 8%, and yet the President still believes the private sector is doing ‘fine’ and the public sector is the problem?

“Aren't the federal workers making about $110,000? Isn’t Congress making about $175,000,” Glenn asked on radio this morning. “Meanwhile they are whining, and they are complaining, and they can’t get anything done. While they need the President to go and fight their battles for them, your income has fallen 8%, and nobody is fighting your battle.”

President Obama, being the coward that he is, will never accept responsibility for any of these numbers because the survey is from 2007 to 2010, and we all know this President inherited the worst economy since… Charlemagne.

“We know one individual that will never ever take any blame or accept any blame and that's Barack Obama,” Glenn said.

In this case, however, it is not so much the steps the President and his administration have taken to fix the economy, but rather the steps they haven’t taken. Glenn blames the collapse of the housing market for the current decline of American wealth.

“Most of our wealth is in our home,” Glenn said. “And many of us can’t sell our home now? If we did sell our home, we would be massively underwater. We all know the Democrats, Barack Obama included, played a huge role in setting the stage for that huge debacle, insisting there be no investigation of Fannie or Freddie.”

“Any leader with a spine, a leader whom you can trust when things get tough, a leader with courage, would stand up and face the music before becoming president and accepting the reins of the office,” Glenn said.

“How can we possibly be doing ‘fine’ when we have lost 40% of our wealth,” he questioned. “The average American has lost 40% of their wealth. That's your nest egg. That's what you work your whole life to build up.”

A real leader would take responsibility and admit that things have not gotten better – in fact, in many ways, things have gotten worse. But this President continues to make promises he won’t keep, while underestimating the gravity of the situation.

Remember when President Obama said this: “I didn't overpromise. And I didn't underestimate how tough this was going to be. I always believed that this was a long-term project.”

Or how about this gem: “If I don't have this done in three years then it's going to be a one-term proposition.”

Well we are now three and a half years into a four year term, Americans have lost 40% of their wealth, and Obama is still refusing to take any responsibility. Even worse, now it looks like he is out right lying to the American people.

“We have a coward in office. A coward who has never accepted personal responsibility. A coward who has never been accountable for any of his actions,” Glenn said.

“I challenge any supporter of Barack Obama to call me, and tell me where I'm wrong. Tell me where I'm wrong on this. Show me where this man has taken responsibility. Show it to me. I don't know of a single instance where Barack Obama has said, ‘I overpromised and under-delivered.’ I've not heard him say, ‘The buck stops here. I'm responsible.’ In fact, he has said exactly the opposite.”

This week on "The Glenn Beck Podcast," civil rights activist and Woodson Center founder Bob Woodson joined Glenn to call out the leftists in the "race grievance industry," like the Rev. Al Sharpton and Black Lives Matter, Inc., who, he says, are "profiting off the misery of their people."

Woodson lived through the appalling segregation laws of the last century and has a much different message about what it means to be "oppressed" than the so-called "anti-racist" activists today.

Woodson said he believes the real struggle for impoverished minority communities "is not racial." He argued that leftists "at the top" derive "moral authority" by claiming to represent "so called marginalized groups," while they prosper at the expense of those "at the bottom."

"There's nothing worse than self-flagellating guilty white people and rich, angry black people who profit off the misery of their people," Woodson said.

"I call what Sharpton and some of those are doing is worse than bigotry. It's treason. It's moral treason against their own people," he added. "The only time you hear from them is when a white police officer kills a black person, which happens maybe 20 or 21 times a year, but 6,000 blacks are killed each year by other blacks. So, in other words, their message is black lives only matter when taken by someone white, which means you are betraying the black community when you turn your back on 20 children that are slaughtered and you don't march in that community and demand that those killers be turned over to the police."

'The problem is not racial," Woodson asserted. "The problem is the challenge of upward mobility. Any time you generalize about a group of people, blacks, whites, Native American, and then you try to apply remedies, it always benefits those at the top at the expense of those at the bottom. ... It's a bait and switch game where you're using the demographics of the worst of these, to get resources that helps the best of these, or those who are prospering at the top. So, if I was the president, I would say an end to the race grievance business, that America should concentrate on the moral and spiritual free fall that is consuming people at the bottom."

Watch the video clip below to catch more of the conversation, or enjoy the full podcast here or wherever you listen to podcasts:

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Following President Joe Biden's first joint address to Congress, Glenn Beck joined fellow BlazeTV host and author of the new book, "American Marxism," Mark Levin to expose what they called the "Liar-In-Chief's" radical plans for our country and to explain why the far Left's proposals and programs are really a "frontal attack" on our Constitution, our country, and our way of life.

"Substantively, this is a frontal attack on our Constitutional system of limited government. It is a frontal attack on our capitalist system. He's basically throwing out all the bromides for the radical left groups that now form the base of the modern Democrat Party. And I make the case that ... this is Marxist bullcrap in its broadest sense," Levin stated.

"Here we are, a country now where one man can get up in the middle of the night and make a list of everything he wants to do to the country," he added, speaking figuratively. "It's like an unreality where we're living in separate worlds ... the whole thing is a fraud."

Watch the video clip below to hear Levin expose the lies and misinformation in Biden's speech and explain why he believes the true message is absolutely chilling for the future of our nation:

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After months of delays and COVID-19 excuses, President Biden finally delivers his address to the joint session of Congress. It is a truly historic moment, as only a few hundred members of Congress received an invite. While some have compared this speech to JFK's moon landing challenge, it will likely be more like FDR's New Deal nightmare. Will Speaker Pelosi continue her tradition of ripping up the president's speech? Will VP Harris cackle to a quiet audience?

Glenn Beck teams up with fellow BlazeTV host Mark Levin, author of the new book "American Marxism," to take on the progressive plans that could completely transform our economy and our way of life. Steve Deace, BlazeTV host and author of "Faucian Bargain," joins to discuss why it's not enough for conservatives to just lament the dangerous Democrat agenda; we must activate against the woke infection of our institutions. Plus, a power panel to rival CNN talking heads: Stu Burguiere, BlazeTV host of "Stu Does America," and Jason Buttrill, head researcher and writer for Glenn Beck.

Watch the video below:

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The less-than-favorable reaction to Caitlyn Jenner's bid for governor of California as a Republican has shown that leftists and so-called "transgender rights activist" care more about political party than actual transgender rights. Despite the fact that if she wins, Jenner would be the first trans governor in our nation's history — and prove that Republicans aren't 'transphobic' — Leftist activists would rather back Gavin Newsom — a cisgender, white male.

"Make no mistake: we can't wait to elect a #trans governor of California. But @Caitlyn_Jenner spent years telling the #LGBTQ+ community to trust Donald Trump. We saw how that turned out. Now she wants us to trust her? Hard pass," tweeted Equality California, one of the state's largest LGBTQ-rights groups.

"With all due respect, @Caitlyn_Jenner, you are running as a Republican?! Republicans deny your existence and are trying to erase trans youth. HELL NO," tweeted leftist activist and actress Alyssa Milano.

"Well done Caitlyn Jenner, running for governor wins you the one medal you never got: stupidest mother***ker on earth. Running as a Trump Republican & entering a world that hates you," tweeted "Sons of Anarchy" star Ron Perlman.

In this clip from the "Glenn Beck Radio Program," Glenn and producer Stu Burguiere discussed the Left's hostile reaction to Jenner's candidacy for California governor and agreed that leftist trans activists are showing themselves to be more "leftists" than "trans activists."

"If Caitlyn Jenner did, let's say, run for governor and win as a Republican, wouldn't that go a long way to advance what [trans rights activists'] goal supposedly is? Like, if you really believe Republicans hate trans people and what you want is for society to have trans people accepted more broadly, what better way to accomplish that than having a Republican trans candidate?" Stu asked.

"Yeah, see, but you just said the key words: 'If you really believe.' They don't really believe anything. I don't think they even really believe that Republicans hate gay people. I don't think they actually believe that. That's just a slogan that's been drilled in their head," Glenn said. "It doesn't have anything to do with race or gender, or really anything else. It has everything to do with politics. That's it."

Watch the video clip below to hear more from Glenn:


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