FACTS: The State Of The Union (Since 2011 SOTU, 1.9 million private sector jobs created)
By Judd Legum on Jan 24, 2012 at 11:10 am
Tonight, President Barack Obama will deliver his third State of the Union address before a joint session of Congress. The Republican response will be given by Indiana Gov. Mitch Daniels. Before you watch the speeches, get the facts:
• Since the last SOTU, the economy has created 1.9 million private sector jobs.
• The top 1 percent take home 24 percent of the nation’s income, up from about 9 percent in 1976.
• Private sector job creation under Obama in 2011 was larger than seven out of the eight years Bush was president.
• The top 1 percent of Americans own 40 percent of our country’s wealth while the bottom 80 percent owns only 7 percent.
• Thanks to the Affordable Care Act, 2.5 million young adults gained health insurance.
• For every one job opening, there are four people looking for work.
• Last year, China spent 9 percent of its GDP on infrastructure. The U.S. spent 2.5 percent.
• 2.65 million seniors saved an average of $569 on prescriptions last year thanks to the Affordable Care Act.