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.”

Terry Trobiani owns Gianelli's Drive Thru in Prairie Grove, Illinois, where he put up a row of American flags for the Fourth of July. But the city claimed he was displaying two of them improperly and issued him a $100 ticket for each flag.

Terry joined Glenn Beck on the radio program Tuesday to explain what he believes really happened. He told Glenn that, according to city ordinance, the American flag is considered "ornamental" and should therefore have been permitted on a federal holiday. But the city has now classified the flag as a "sign."

"Apparently, the village of Prairie Grove has classified the American flag as a sign and they've taken away the symbol of the American flag," Terry said. "So, as a sign, it falls under their temporary sign ordinance, which prohibits any flying, or any positioning of signs on your property — and now this includes the American flag. [...] The only way I could fly the American flag on my property is if I put it on a permanent 20 to 30-foot flagpole, which they have to permit."

Terry went on to explain how the city is now demanding an apology for his actions, and all after more than a year of small-business crushing COVID restrictions and government mandates.

"COVID was tough," Terry stated. "You know, we're in the restaurant business. COVID was tough on us. We succeeded. We made it through. We cut a lot of things, but we never cut an employee. We paid all our employees. I didn't take a paycheck for a year just to keep our employees on, because it was that important to me to keep things going. And, you know, you fight for a year, and you beat a pandemic, and then you have this little municipality with five trustees and a president, who just have no respect for small businesses. And right now, what I see is they have no respect for the republic and the United States ... I think it's terrible. The direction that government, at all levels, have taken us to this point, it's despicable."

Watch the video below to catch more of the conversation:


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The Biden administration is now doing everything it can to censor what it has decided is COVID-19 "misinformation." But Glenn Beck isn't confident that the silencing of voices will stop there.

Yeonmi Park grew up in North Korea, where there is no freedom of speech, and she joined Glenn to warn that America must not let this freedom go.

"Whenever authoritarianism rises, the first thing they go after is freedom of speech," she said.

Watch the video clip below from "The Glenn Beck Podcast" or find the full episode with Yeonmi Park here:

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Most self-proclaimed Marxists know very little about Marxism. Some of them have all the buzzwords memorized. They talk about the exploits of labor. They talk about the slavery of capitalist society and the alienation caused by capital. They talk about the evils of power and domination.

But they don't actually believe what they say. Or else they wouldn't be such violent hypocrites. And we're not being dramatic when we say "violent."

For them, Marxism is a political tool that they use to degrade and annoy their political enemies.

They don't actually care about the working class.

Another important thing to remember about Marxists is that they talk about how they want to defend the working class, but they don't actually understand the working class. They definitely don't realize that the working class is composed mostly of so many of the people they hate. Because, here's the thing, they don't actually care about the working class. Or the middle class. They wouldn't have the slightest clue how to actually work, not the way we do. For them, work involves ranting about how work and labor are evil.

Ironically, if their communist utopia actually arrived, they would be the first ones against the wall. Because they have nothing to offer except dissent. They have no practical use and no real connection to reality.

Again ironically, they are the ultimate proof of the success of capitalism. The fact that they can freely call for its demise, in tweets that they send from their capitalistic iPhones, is proof that capitalism affords them tremendous luxuries.

Their specialty is complaining. They are fanatics of a religion that is endlessly cynical.

They sneer at Christianity for promising Heaven in exchange for good deeds on earth — which is a terrible description of Christianity, but it's what they actually believe — and at the same time they criticize Christianity for promising a utopia, they give their unconditional devotion to a religion that promises a utopia.

They are fanatics of a religion that is endlessly cynical.

They think capitalism has turned us into machines. Which is a bad interpretation of Marx's concept of the General Intellect, the idea that humans are the ones who create machines, so humans, not God, are the creators.

They think that the only way to achieve the perfect society is by radically changing and even destroying the current society. It's what they mean when they say things about the "status quo" and "hegemony" and the "established order." They believe that the system is broken and the way to fix it is to destroy, destroy, destroy.

Critical race theory actually takes it a step farther. It tells us that the racist system can never be changed. That racism is the original sin that white people can never overcome. Of course, critical race theorists suggest "alternative institutions," but these "alternative institutions" are basically the same as the ones we have now, only less effective and actually racist.

Marx's violent revolution never happened. Or at least it never succeeded. Marx's followers have had to take a different approach. And now, we are living through the Revolution of Constant Whining.

This post is part of a series on critical race theory. Read the full series here.

Americans are losing faith in our justice system and the idea that legal consequences are applied equally — even to powerful elites in office.

Rep. Devin Nunes (R-CA) joined Glenn Beck on the radio program to detail what he believes will come next with the Durham investigation, which hopefully will provide answers to the Obama FBI's alleged attempts to sabotage former President Donald Trump and his campaign years ago.

Rep. Nunes and Glenn assert that we know Trump did NOT collude with Russia, and that several members of the FBI possibly committed huge abuses of power. So, when will we see justice?

Watch the video clip below:


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