"To announce that there must be no criticism of the president, or that we are to stand by the president, right or wrong, is not only unpatriotic and servile, but is morally treasonable to the American public." -- Theodore Roosevelt

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Friday, August 23, 2013

American Incomes Dropped Twice as Much During Obama's "Recovery" than During the Recession

"Now look, I know things aren't great, but you all would be driving homemade armored cars and shooting crossbows at each other if it wasn't for me. I'm all that's keeping America from becoming "The Road Warrior!"

Smart diplomacy and smart economics. Uh, right?

Guess what? Governments are not really that effective and redistributing income. This is why the Soviet Union, North Korea, and Maoist China didn't work-- unless you feel that the starving of millions of people is indicative of success. By the way, more people than you might believe think that's true-- just as long as the right people are starving.

From Jeffrey H. Anderson at The Weekly Standard (via Drudge):

President Obama likes to talk about income inequality, but what matters far more is the actual income of the typical American. And how has the typical American household income fared on Obama's watch? Well, the economic "recovery" has now spanned an Olympiad, and during that time the typical American household income has not only dropped—it has dropped more than twice as much as it did during the recession.  
New estimates derived from the Census Bureau's Current Population Survey by Sentier Research indicate that the real (inflation-adjusted) median annual household income in America has fallen by 4.4 percent during the "recovery," after having fallen by 1.8 during the recession. During the recession, the median American household income fell by $1,002 (from $55,480 to $54,478). During the recovery—that is, from the officially defined end of the recession (in June 2009) to the most recent month for which figures are available (June 2013)—the median American household income has fallen by $2,380 (from $54,478 to $52,098). So the typical American household is making almost $2,400 less per year (in constant 2013 dollars) than it was four years ago, when the Obama "recovery" began.  
Importantly, these income tallies include government payouts such as unemployment compensation and cash welfare. So Obama's method of funneling ever-more money and power to Washington, and then selectively divvying some of it back out, clearly isn't working for the typical American family.

I'm sure it's racism or Bush's fault that Americans are struggling under Obama's policies and edicts. Clearly we can't hold Obama accountable for the predictable consequences of his Leftist policies.

And if you think that Americans are feeling the bite, wait until ObamaCare really kicks in. It will not be pretty.

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