Skip to comments.Obama's Economy — We've Fallen And Can't Get Up
Posted on 08/23/2013 6:00:58 AM PDT by IBD editorial writer
Economy: Household incomes are still down 4.4% since the recession ended four years ago. Meanwhile, the unemployment picture may be even worse than we think. The Obama "recovery" continues to impress.
According to a report released this week by Sentier Research, the inflation-adjusted median household income remains $2,380 below where it stood when the Obama "recovery" officially started in June 2009 a drop of 4.4%.
Sentier's monthly data, derived from the Census Bureau's Current Population Survey, show that incomes fell more in the year after the recovery started than it did during the recession itself. And household incomes have basically flat-lined ever since.
(Excerpt) Read more at news.investors.com ...
Mr. President there is one simple thing you can do right now, which will strengthen America and improve our place in the future, and in the world.
BRING AMERICAN BUSINESS HOME.
In all fairness to Obama, the recent recession was bound to be a doozy given all of the real estate credit expansion tolerated and even encouraged for the last 25 or so years.
That said, Obama’s added a lot of headwinds to the recovery, including:
* massive regulation costing by some estimates $70 billion annually, with more to come
* Disruption of the medical economy — one-sixty of GDP — through Obamacare, which encourages the substitution of part time for full time work
* Refusal to allow repatriation of offshore corporate funds (which have already been taxed in the country in which they were earned) without an outsize penalty
* Full tilt war against coal and even against oil exploration (although fracking has minimized the effect on this)
* Expansion of unemployment, food stamp, and welfare rolls to unheard of levels, which require additional taxes
I could go on...
Two questions I ask liberals/progressives which they never give a straight answer.
1. Name one obama policy that has made it less expensive or easier to hire someone.
2. At one point between 0% and 100% taxation do you become a slave?
All Hussein has to do is manufacture a few numbers and the lapdog media falls in line - touting recovery and praising his economic prowess.
National debt, no problemo. The figure hasn't changed one cent in almost 90 days!
Unemployment. Again, no problemo! 0bama works his magic and those that are now chronically unemployed are no longer counted, resulting in stats indicating "recovery"
A secondary effect of increased usage of these public payments is that in too many cases, they become the permanent, low-paying "job" of the person or family. While this substitute income may be enough to live on, it doesn't make for a vibrant, growing economy.
Too many people going on these programs inevitiably lead to more folks being out of work and in need of help.
Ever notice that these articles always include the phrase “since the recession ended”?