The Big Lie: "The economy is improving in every measurable way" - Barack Obama

The Big Lie: "The economy is improving in every measurable way" - Barack Obama

1.     The median U.S. income this year was $53,385, according to Sentier Research. That's down 4 percent from the $55,446 people earned in 2009.

2.     The median net worth in America fell to $81,400 in 2013 from $85,100 in 1989, the report said. Meanwhile, all of the economic gains during the recovery that have followed the housing crash have gone to top-income earners, statistics show.

3.     The bottom 90 percent of families -- already facing stagnant wages and salaries -- are suffering under a crushing debt load. Many of them have higher mortgages to pay and higher credit card and student loan balances.

4.     A vibrant middle class is the cornerstone of a strong national economy. America's middle class is getting weaker, however, with those on the lower rungs sliding into poverty. The middle class -- defined by the middle 60 percent of households -- collects about 45.7 percent of national income. That's down significantly from 53.2 percent in 1968, according to U.S. Census figures analyzed by the left-leaning Center for American Progress Action Fund.

5.     In the numbers released today, covering the month of June, the seasonally adjusted unemployment rate for black Americans age 16 and over was 10.7%, reported the BLS. The unemployment rate for white Americans in the same age group and time-frame was 5.3%, said the BLS. 10.7% is more than double 5.3%.

6.     Low-wage jobs have dominated the economic recovery, placing people into fast-food and other service-sector positions that offer few benefits or opportunities for promotion. Since the recession, there are 1.2 million fewer jobs in mid- and higher-wage industries, while lower-wage industries have grown by 2.3 million jobs, according to a study from the National Employment Law Project.

7.     The share of first-time buyers has fallen to its lowest point in nearly three decades, according to a recent survey from the National Association of Realtors. Only about a third of people buying homes now are first-timers, down from the historical average of 40 percent.

8.     No one will be able to afford college in the future. Wrestling with college costs can tank a family's finances. Parents and grandparents have taken out loans to foot the bill, only to put their retirement nest eggs at risk. Students shoulder the burden as well, and more than two-thirds of college seniors graduate with student debt, some of which could take decades to pay off.

9.     Meanwhile, the median wealth of non-Hispanic black households fell 33.7%, from $16,600 in 2010 to $11,000 in 2013. Among Hispanics, median wealth decreased by 14.3%, from $16,000 to $13,700. For all families — white, black and Hispanic — median wealth is still less than its pre-recession level.

10.  At the median, black families made $39,715 in 2010, down from about $44,000 in 2000. As a percentage of white median family income, blacks made 61 percent in 2010, down from 63.5 percent in 2000.

11.  The Great Recession wreaked havoc on household incomes for blacks. From 2007–2010, the median black household’s income fell 10.1 percent, compared to 5.4 percent for white households

12.  Despite the significant decrease in the official U.S. Bureau of Labor Statistics (BLS) unemployment rate, the real unemployment rate is over double that at 12.6%. This number reflects the government’s “U-6” report, which accounts for the full unemployment picture including those “marginally attached to the labor force,” plus those “employed part time for economic reasons.”