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What Recovery?… Median Household Income Has Declined 5% During Obama’s So-Called Recovery

Allbiz - PWCM - JLA 2012/09/03 16:47:32

Under Barack Obama: Deep poverty is at record high level, homeless families are on the rise, and the media is silent.

Barack Obama is not just the food stamp president. A record one in seven Americans is on food stamps today thanks to Barack Obama.

Barack Obama is also the poverty and pain president.
Under Obama, 6.4 million Americans are living below the poverty line and there is a record number of Americans living in deep poverty.

But, that’s not all…
Obama’s policies have been such failures that the median household income has declined more during the so-called recovery than during the recession itself.
Forbes reported:

New income data from the Census Bureau reveal what a great job Barack Obama has done for the middle class as President. During his entire tenure in the oval office, median household income has declined by 7.3%.

In January, 2009, the month he entered office, median household income was $54,983. By June, 2012, it had spiraled down to $50,964. That’s a loss of $4,019 per family, the equivalent of losing a little less than one month’s income a year, every year. And on our current course that is only going to get worse not better…

Three years into the Obama recovery, median family income had declined nearly 5% by June, 2012 as compared to June, 2009. That is nearly twice the decline of 2.6% that occurred during the recession from December, 2007 until June, 2009. As the Wall Street Journal summarized in its August 25-26 weekend edition, “For household income, in other words, the Obama recovery has been worse than the Bush recession.”

…Obama has failed the poor as well as the middle class. Last year, the Census Bureau reported more Americans in poverty than ever before in the more than 50 years that Census has been tracking poverty. Now The Huffington Post reports that the poverty rate is on track to rise to the highest level since 1965, before the War on Poverty began. A July 22 story by Hope Yen reports that when the new poverty rates are released in September, “even a 0.1 percentage point increase would put poverty at the highest level since 1965.”

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Top Opinion

  • RTHTGakaRoland 2012/09/03 17:08:26 (edited)
    RTHTGakaRoland
    +14
    Enough with the bad news, I am trying to enjoy my Obama Era Labor Day Cookout:

    ldc

    Yes, Obama's Great Oppression has brought "Change" from the ways that we used to enjoy our long weekends;

    obama era labor cookout obamas oppression change ways enjoy weekends

    but your constant reminders ruin the pleasures of Obama's Great Oppression: Dollar Store franks and beans topped with government cheese heated over a garbage fire alone in a now abandoned business park.

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Opinions

  • rocat 2012/09/04 01:25:27
    rocat
    +2
    can't argue with numbers-
  • Icono1 2012/09/03 19:46:58
    Icono1
    +4
    Spam burgers anyone?
  • ed 2012/09/03 19:39:07
    ed
    +4
    the liberals swear up and down that it ended in 2009 and we don't know what we are talking about.
  • sbtbill 2012/09/03 19:10:46
    sbtbill
    +1
    We need to go back to the policies of FDR and Reagan. We need higher tariffs. We need stronger unions. We don't need government cuts which would just increase the deficit and lower every ones standard of living.

    I posted this before and it is still true.

    There are only two ways to cut the deficit.

    1) Increase revenues
    2) cut spending

    Cutting spending means lower sales for business and fewer government and private sector jobs. That means less revenue. The multiplier affect will mean higher deficits.
    Examples are Bush 1 and Herbert Hoover. Net affect bad.

    Increasing revenues. The best way to do this is to spur jobs by increasing spending. This means increased sales and increased hiring. The multiplier affect will mean lower deficits. Examples are Ronald Reagan and FDR.

    We are currently obsessed with the deficit. We should be obsessed with revenue. Countries that are trying to cut deficits by cutting spending are finding two things happening one the deficits aren't improving. Two they are moving into ever worse recessions. Greece and England are examples.

    Romney's plan will destroy us.
  • Ken sbtbill 2012/09/06 23:20:40
  • Ken 2012/09/03 19:07:07
    Ken
    +2
    As reported the recession was over by the time Obama took office and we have now regressed.
  • sbtbill Ken 2012/09/03 19:12:27
    sbtbill
    +1
    The recession was not over when Obama took office. You must have a very short memory. It was still going full blast in June of 2009. It has gotten better but it still isn't over.
  • Allbiz ... sbtbill 2012/09/03 19:26:08
    Allbiz - PWCM - JLA
    I let that comment ride. I'm sure he was referring to the end of '09 when it was "officially" declard ended by the Obama admininstration.
  • Ken sbtbill 2012/09/03 21:00:14
    Ken
    +2
    The recession started in December 2007 (10 months after the Democrats took full control of Congress) and lasted until June 2009, I know that. But by the time Obama took office it was nearly over. The recession was man made by the Democrats for political purposes and a main reason why it ended in the second quarter of Obama's first year in office
    http://en.wikipedia.org/wiki/...
  • sbtbill Ken 2012/09/04 05:02:34
    sbtbill
    +1
    I would say in January of 2009 the recession was still in full force and getting worse. The Tarp (Bush) and the GM bailout as well as the Obama tax cuts moderated it.
  • Ken sbtbill 2012/09/04 23:09:00 (edited)
    Ken
    +1
    Bush signed the first Tarp bill in October 2008. October 4th, to be exact.
  • Allbiz ... Ken 2012/09/05 14:29:52
    Allbiz - PWCM - JLA
    And it was the only stimulus that proved to be effective and fully repaid.....with interest.
  • Ken Allbiz ... 2012/09/05 15:39:54
    Ken
    +1
    and it was still a waste, as with all artificial stimulus.
  • Allbiz ... Ken 2012/09/05 16:39:31
    Allbiz - PWCM - JLA
    If you say so. But I don't call the $16 billion interest paid to the American taxpayers a waste until it got into Obama's hands and he pissed it away to companies like Solyndra.
  • Ken Allbiz ... 2012/09/05 23:52:44 (edited)
    Ken
    +1
    Didn't some economist claim the paybacks were false, that money paid from one account was used to pay some interest payments for another, but then borrowed back even more from the Government?

    Or are you only talking about the loans to the financial markets?
  • Allbiz ... Ken 2012/09/06 15:38:13
    Allbiz - PWCM - JLA
    I was only talking about the bank loans. As fast as that money came in, Obama spent it on waste over and above his stimulus.

    http://www.forbes.com/sites/p...

    http://www.politifact.com/tru...
  • heirsoftheking 2012/09/03 18:42:03
    heirsoftheking
    +4
    Never was a recovery. We're still in the Obama-Depression.
  • Kat ♪ ~BTO-t-BCRA-F~ ♪ 2012/09/03 18:06:33
    Kat ♪ ~BTO-t-BCRA-F~ ♪
    +6
    There was no recovery, all a sham like obama and the rest of the government is.
  • Biki~pwcm/potl~ 2012/09/03 18:01:17
    Biki~pwcm/potl~
    +7
    House worth less, food prices higher, gas prices higher....misery index astronomical.
  • Diane Spraggs Yates 2012/09/03 17:45:26
    Diane Spraggs Yates
    +10
    I am not- my community is not- my family is not -my state is not- Obama stirs up trouble ,divides people to his benefit !!!!!!! Disgusting !!!!Obama administration is the most corrupt in the history and the country is not doing better !!!!!!
  • mustangluver 2012/09/03 17:31:05
    mustangluver
    +10
    I'll keep saying it. Only the poor and the rich will re-elect the moron. Not one lib/dem has told us here on SH or anywhere else, how BO has made this nation better in any which way. Now BO is actually trying to tell ppl he is for the middle class, now that is the joke of century!! The entire DNC is a huge joke!!!
  • RTHTGakaRoland 2012/09/03 17:08:26 (edited)
    RTHTGakaRoland
    +14
    Enough with the bad news, I am trying to enjoy my Obama Era Labor Day Cookout:

    ldc

    Yes, Obama's Great Oppression has brought "Change" from the ways that we used to enjoy our long weekends;

    obama era labor cookout obamas oppression change ways enjoy weekends

    but your constant reminders ruin the pleasures of Obama's Great Oppression: Dollar Store franks and beans topped with government cheese heated over a garbage fire alone in a now abandoned business park.
  • Allbiz ... RTHTGak... 2012/09/03 17:32:52
    Allbiz - PWCM - JLA
    +13
    I even went up to the grocery store and got a new grill.






    shopping cart grill
  • Icono1 Allbiz ... 2012/09/03 19:42:16
  • Roger47 2012/09/03 17:07:29
    Roger47
    Economists evaluated the American Jobs Act, and said it would add 2 million jobs. The CBO evaluated it, and said it would pay for itself over 10 years, and result in lower deficits in the long run. Republicans in the House blocked it by voting unanimously against it. Whose fault is it that the economy is recovering so slowly?
  • Allbiz ... Roger47 2012/09/03 17:38:34
    Allbiz - PWCM - JLA
    +7
    The Republican sponsored AJA was passed by Congress and signed into law by Empty Chair-in Chief on April 5th. You can stop your whiney lie now.
  • Roger47 Allbiz ... 2012/09/03 17:47:52
    Roger47
    +1
    You are mistaken. It was proposed by President Obama in September 2011. It has not been passed.
    http://prospect.org/article/a...
  • Allbiz ... Roger47 2012/09/03 18:04:21
    Allbiz - PWCM - JLA
    +3
    I'm not going to try to argue with stupid. Have a nice Labor Day.

    Oh, wait.........you have to have a job first.
  • Roger47 Allbiz ... 2012/09/03 18:09:18
    Roger47
    It is a sign you know you are wrong when you have to make something up about the person you are arguing with. I have had a job every single day since I got my graduate degree in 1988. I have never collected a dime in unemployment or welfare. Lastly, as my link shows, I have my facts right.
  • Allbiz ... Roger47 2012/09/03 18:32:00
    Allbiz - PWCM - JLA
    +2
    I never could afford to go to college. I've had a job every day of my life since I graduated from HS 52 years ago. I started my own business 12 years later. I was the ony employee for the first couple of years. I was raising a family with 3 kids. I didn't receive any loans. I didn't receive any government assistance. Over the years, I've provided jobs to hundreds. And now I'm part of what you call the 1%.

    The AJA passed a House vote of 380-41 and a Senate vote of 73-26. It was signed into law by NoPlan Obama on April 5th, 2012.

    Use WhiteHouse.gov. It's much more reliable than the opinion piece you sited.
  • Brainfa... Roger47 2012/09/03 18:02:09
    Brainfart " Bane of the Collective "
    +4
    Economists evaluated the American Jobs Act, and said it would add 2 million jobs.
    Bullpuky..who the hell said this ?/
    The CBO evaluated it, and said it would pay for itself over 10 years,
    Dude, its a Stealfumus program.Just with a sneaky name.

    From the White House.gov fact sheet;
    .To ensure that the American Jobs Act is fully paid for, the President will call on the Joint Committee to come up with additional deficit reduction necessary to pay for the Act and still meet its deficit target.

    Reality,

    No cost to taxpayers? Great political move, but a fantasy. Obama’s political maneuvering attempted to place much of the fiscal burden of this jobs act on the Super Committee. The bipartisan group of 12 legislators is charged with finding a plan to slash the deficit by $1.5 trillion by Thanksgiving, and Obama asked them to up that number to an even $2 trillion instead to pay for this plan. The GOP already was eager for deeper cuts into wasteful spending to fund efforts that would aid the economy — and this is Obama’s version of that vision with a progressive agenda. But let’s be realistic: It will be hard enough to cut $1.5 trillion. And you can bet that the plan Obama will deliver on Sept. 19 to reach the $2 trillion goal will never pass the GOP smell test, if the math is even accurate.
    Which as we know is NEVER accurate.
    Considering the Obamacarescam has already DOUBLED down on Cost.
  • Lanikai Roger47 2012/09/04 16:06:55
    Lanikai
    +1
    PLEASE-Remember that OBIE had a clear majority for the first 2 years in office and did nothing, and NOW he wants to blame repubs.


    Give over-he effed all of us, including you and you all are silly enough to listen to his lies.
  • Arizona1950 2012/09/03 17:02:34
    Arizona1950
    +4
    "It's definitely not kosher to use inflation-adjusted numbers in one case and nominal numbers in the other case," Daniel Mitchell, senior fellow at the libertarian Cato Institute, told us.

    When inflation is high enough to wipe away nominal gains in income, ... it is even more important to use apples-to-apples comparisons"

    The declining incomes Paul Ryan cites in the last four years were in real dollars -- inflation adjusted to show the true effect on purchasing power -- while the gains in household income under Romney were not inflation-adjusted.

    http://www.politifact.com/wis...
  • Walt 2012/09/03 17:01:42
    Walt
    +9
    A Kenyan economic recovery is something like a "Dutch treat", except the whole country is involved.
  • Mel the Witch POTL PWCM~JLA 2012/09/03 16:50:19
    Mel the Witch POTL PWCM~JLA
    +12
    Yea, The Bama, has done a wonderful job......Errrr At taking vacations, Playing Golf, making beer.....Yea....so nice he's having a good time....
  • Biki~pw... Mel the... 2012/09/03 18:00:14
    Biki~pwcm/potl~
    +6
    I've heard they will release pizza recipes now to go along with the beer ones. Whew! Boy! He. Has. Been. Soooooooo. Busy!!
  • Allbiz ... Biki~pw... 2012/09/03 18:07:07
    Allbiz - PWCM - JLA
    +4
    Hahaha.
  • Kat ♪ ~... Biki~pw... 2012/09/03 18:08:47 (edited)
    Kat ♪ ~BTO-t-BCRA-F~ ♪
    +4
    Ketchup on cardboard?
    ketchup on cardboard
  • Biki~pw... Kat ♪ ~... 2012/09/03 23:29:25
    Biki~pwcm/potl~
    +2
    hahahaha! Looks about right! My husband purchased a bacon/cheese burger pizza from Papa Murphys once....it was only the once and 98% of it got tossed in the trash. I didn't try it so I couldn't tell you if it was good or not, but according to the two people who did eat it, it was gross.
  • Lanikai Mel the... 2012/09/04 16:08:24
    Lanikai
    +2
    You forgot creating TONS of jobs OVERSEAS in places like India, China, Russia, and Brazil, as well as GIVING Brazil money to drill in deep water-while BLOCKING our ability to drill. He SAYS he is allowing it and says he is approving permits, BUT his EPA and DOJ are holding up all access to actual drilling.

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