Are You Better Off Than You Were 7 Years Ago?

Investors Business Daily ^ | July 28, 2016 | Editorial

[expat_panama]

Economy: While patting himself on the back in his speech at the Democratic Convention, President Obama said that "by so many measures, our country is stronger and more prosperous than it was when we started." Clearly, Obama needs a new ruler.


... it's whether the country is better off than it was when the recovery started...


...run some of the numbers:
 

• More in poverty: During Obama's "recovery," 3.1 million people fell into poverty, and the poverty rate climbed from 14.3% in 2009 to 14.8% in 2014, according to Census.
• Lower household incomes: Census data show that only the top 40% of households made gains in income under Obama, while the remaining 60% saw their incomes shrink between 2009 and 2014. The bottom 20%, for example, saw their incomes decline by 8.4% over those years.
• More on food stamps: There were 8.7 million more people on food stamps this April (the last year for which data are available) than there were when recovery started, according to the Department of Agriculture.
• More labor dropouts: While the number of people who are unemployed fell by about 7 million between June 2009 and today, the number who are no longer in the labor force — either because they've quite looking for work or retired — climbed an astonishing 14 million.
• Less optimism: In June 2009, the IBD/TIPP Economic Optimism Index was 50.8 — anything above 50 represents optimistic, under 50 pessimism. This July, the Optimism Index was 45.5...

...Clinton is absolutely right. The shame of it is that neither party is fixing blame where it belongs: on Obama's anti-growth agenda of tax hikes and regulatory overreach. The last thing we need is four more years of that.
 

[Buckeye McFrog]

If you are a Government employee, most definitely.

Anyone else, not so much.

[Buckeye McFrog]

“If you tell a lie big enough and keep repeating it, people will eventually come to believe it.” Joseph Goebbles

This election will decide once and for all whether or not the USA is now too STOOOOOOPID to continue as a Democratic Republic.

[ThunderSleeps]

Better off than 7 years ago? No. Not just no, but unquestionably no. By any objective measure you care to name, no. By any subjective measure you care to name, no.

For me and my family, bammy's occupancy of the White House has been an uninterrupted string of failures. I can't think of even one decision he has made that I have agreed with. There might have been one or two over the course of 7 years, but if so, they were so minor as to escape my memory. Nor can I think of any thing he has done that has in any way improved my situation, or even made it not as bad as it could have been. In short, I can't think of a worse President, by any measure, nor could I imagine a worse President. Although I'm sure Hillary would like to take a run at that one.

[Ciexyz]

Nobody talks about Obama giving no COLA to SS recipients and federal and postal retirees for three years out of his Presidency, while we always got a COLA under presidents before that, plus almost no interest income from CD’s and savings. So no, I’m not doing better in diposable income. Interest rates pushed down to help other sectors of economy but not me. I hope the people who made those decisions suffer when they reach their elder years. May they have to pinch and scrape like people today who suffer from their Crappy decisions. Karma, friends.

[expat_panama]

Are You Better Off Than You Were 7 Years Ago?

• I’m doing better  Fred Hayek
• I am better off  Salgak
• 2016 is going to be a good year for me and my family2016 is going to be a good year for me and my family  Tenacious 1
• The general consus on that question is yes  ilgipper
• I actually am.  rfreedom4u
• The answer for me is yes,  proxy_user

Things are what they are and compared to 7 years ago the average American is a lot richer, sees higher wages that translates to higher total compensation and overall job satisfaction.  This editorial hangs its hat on two things, reported optimism and median family incomes--

--and even that doesn't prove anything.  The median income numbers stopped years ago and while the sentiment is not better it's at least just as good.  Bottom line here is that there are easier arguments for voting Republican than this one.

[expat_panama]

I’m better off, but...

That's how folks usually begin their answers   What I'm seeing is that humans in general and Americans in particular are in the habit of making their lives better, and (as w/ post 45) that it's usually not a good idea to imagine that voters will go along w/ this meme.

[HiTech RedNeck]

Some people (like I) may have learned better ways to cope with a stumbling economy. For myself, who had been out of a job, the magic word was contracting, and that in a different city. But do I think the economic environment itself improved... shoot no.

[expat_panama]

I’m fine, but no thanks to 0bama.

That's my take too, only wish we could fit it better on a bumper sticker.

[wita]

A much better question to ask is whether people think the COUNTRY is better off now than, say, 10 years ago.

Valid question.

Progressive = Yes

Conservative Christian = No

[HiTech RedNeck]

2008 was coming right out of a shock. A shock that happened on the watch of a (weakly) GOP president, and a Democrat dominated Congress.

[HiTech RedNeck]

And ironically, conservative Christians might confess that the trials have seen a build-up in their own spiritual life. But that doesn’t mean we ought to be wooing trials for their own sake.

[Fred Hayek]

Thank you for removing the context of what I wrote.

[Southern Magnolia]

Moneywise, with getting work, no. We were making a very decent living before and we’re barely making it by now. FBO!

Housing-wise, yes. My family bought an investment property that we pay them rent on. It has saved our lives. Thank God for family.

[wita]

Believing in God and knowing that you WILL be taken care of by Him makes a huge difference in your life, too. Of course, He expects you to do your part, too! I have never missed a meal, or been without a roof over my head or clothing to wear. ;)

...and even if you had missed a meal or two or been in a situation where clothing and shelter were perhaps temporarily missing there would have been no complaints because of the faith and trust. I feel the same way. What on earth do I have to complain about. I have been richly blessed.

My only wish is that I was in Oshkosh at AirVenture this week, but I can visit on the internet.

[Original Lurker]

Goldman Sachs will fight tooth and nail to make sure that doesn’t happen.

[OrioleFan]

That’s the key, paying off the mortgage. Then you can put sizeable chunks of cash in investments out of your paycheck. Start with 401k funding to the max, then IRA, then taxable investments. I drive a car long past when I pay it off. As long as you do the routine maintenance, they should last a long time.

[bert]

The n@#$%^ in the white house stole a big chunk of my retirement and for that I would be satisfied if he were stood against the wall and shot

[Salgak]

Ahem: I have improved my position overall, because I updated my skills and credentials. Colleagues did not do so, those that still have jobs, saw stasis and decline far earlier than I did. . .

[seamusnh]

The inflation rate from 2009 to 2016 is 12%, so if your income has not increased by 12% in that time, you are behind. Of course the national debt has doubled in that time, we are more vulnerable to terrorist attacks, race relations are worse, one out of every 6 americans relies on the federal government for their food....

[Laser_Ray]

My condolences. My father lost a fair portion of this IRA when the Clown Prince and his lardbottomed cow of a wife crashed the stock market, and it’s left him a broken man in more ways than one. I know what you’re going through.