Posted on 09/17/2015 4:03:53 AM PDT by expat_panama
Economy: After six-plus years of President Obama's big-spending, tax-raising policies, middle-class families have seen their incomes decline and more families have fallen into poverty, Census data show.
The Census Bureau's latest annual report on income and poverty in America shows that there was little to cheer about in 2014.
Median family income dropped slightly to $53,657, down from the year before. Every income group suffered losses, with the lowest fifth of households dropping close to 1%.
The overall poverty number barely budged. But it climbed by almost 600,000 among blacks in 2014, more than half of whom were under age 18.
This isn't exactly the picture that Obama has been painting. In fact, there's little that Obama likes to do more than brag about the economy.
A couple of months ago, he was in Wisconsin, crediting his policies for "record" job growth, tumbling deficits and big gains in the stock market.
"Step by step, America is moving forward," he said. "Middle-class economics works. It works. Yes!"
It's hard to see any evidence of that in the Census numbers. Indeed, the latest report shows that, despite more than six years of economic "recovery," the middle class is, incredibly, worse off than at the end of the Great Recession.
From 2009 to 2014, real median household income dropped by more than $1,000 — or 2.3% — to $53,657. (And that decline would likely have been steeper if not for a 2013 change in the way the Census does its annual survey.)
Obama's economy has been particularly harsh on those already at the bottom. Census data show that the bottom fifth of households saw their average income fall by 8% from 2009 to 2014.
Looked at another way...
(Excerpt) Read more at news.investors.com ...
On the bright side ( if you’re a democrat) tax collection is at a historic high
fiance just got laid off from advertising job. More evidence of Obama’s economic boom
The “middle class” is the part of the citizenry that adhere to ideas that the liberal elites shun as un-enlightened. Many are supporting Trump’s candidacy for the present because he is the only on addressing the uncontrolled immigration isssue. Middle class voters understand that this is a key driver of low wages and unemployment, and so nothing else really matters right now.
Of course all this confounds the two wings of the liberal political elite — Democrats & GOPe — who always want to replay the last election with the same set of focus-grouped issues. Only the faces of the candidates change. I don’t know if Trump will win, but at this point nothing would surprise me.
Rise and shine --lots going on! Yesterday's stock uptrend continued (up almost a percent in rising volume) and seems to have spread to metals (gold and silver now at $1,119.10 and $14.94). Nervous now tho w/ futures down atm --stocks -0.06% and metals -0.55%. Big announcement day (not just the Fed mtg):
8:30 AM Initial Claims
8:30 AM Continuing Claims
8:30 AM Housing Starts
8:30 AM Building Permits
8:30 AM Current Account Balance
10:00 AM Philadelphia Fed
10:30 AM Natural Gas Inventories
Elsewhere:
Obama has been very successful.
His goal was to destroy the middle class.
He succeeded.
So how is Mr. Weatherbee, the socialist from Vermont, going to make things better?
Not sure where I saw it but Sanders is not merely clear on being what he calls a “socialist”, but he’s also pro-communist praising the system and how it’s fared in Russia, Cuba, China, etc.
My bet is that her name will soon be moved over from the 'unemployed' to the 'not in the workforce' list. 8P
Bump
why do you care?....
His goal was to destroy the middle class.
He succeeded.
As Lenin said, "The first step is to destroy the bourgoisie."
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