Posted on 06/15/2019 9:07:43 AM PDT by EdnaMode
The Great Recession has officially been over for a decade. For many Americans, there’s little reason to celebrate.
Many people’s finances haven’t recovered from the recession’s blows, according to a new survey by personal finance website Bankrate.com.
“There are still tens of millions who are struggling to even get back to where they were before the economy took a turn for the worse,” said Mark Hamrick, senior economic analyst at Bankrate.com.
More than half of Americans who were adults amid the Great Recession said they endured some type of negative financial impact, Bankrate found. And half of those people say they’re doing worse now than before the crisis.
Fewer than half (46%) of those who were adults at the time of the recession say they’ve seen their paychecks grow since before it began. More than a third of those who say they, or their partner, lost a job during the recession say their pay has actually dropped from before the recession. More than 2,700 adults were interviewed online in May.
(Excerpt) Read more at cnbc.com ...
Could it have to do with the fact that for 8 years the “new normal” was defined so far downward?
These kinds of MSM stories are nothing more than a naked attempt to take the 8 years of economic nothingness under Obama and conflate it to DJT.
Illegal aliens are NOT Americans.
Yup, that’s exactly right.
My financial situation is definitely worse now than it was before the Great recession. It was 2017 before I was making more in absolute terms than I had made in 2006. Accounting for inflation, it was 2018 before I matched my 2006 income. It has since gone up as the Trump Recovery from the Great Recession has taken hold.
My experience is not atypical. As a consultant I work with headhunters and companies all the time and talk with my colleagues. Their experiences match mine. We did not really recover from the Great Recession until the Fall of 2017. Obama’s entire time in office was a giant black hole that we are still recovering from.
Yeah, a giant A hole.
I lived north of Detroit, in the heart of the auto industry. In one day, my 18 year career was gone. I was unemployed for six months. Got a job 600 miles away, had to live separate from the family for 8 months, sold the house at a massive loss. About $75,000 loss of equity and value on a $200,000 home. Bought a much smaller older home for more money.
Are we financially better off now? Absolutely. We made lemonade and made the most of the challenges.
We worked hard and never missed any mortgage payments. Living below our means has always been a way of life.
Your situation sounds strange but things like that can happen depending on the field of work, skill set, health situation, etc. What occupation are you in?
Obamacare is still sucking a tremendous amount of wealth out of the public’s pockets. That makes a huge impact on usable income.
Not that Obama has ever been personally responsible for anything since way back when he was setting the price he sold pot for.
I ignore the fact that there are millions of illegal immigrants who are basically slaves to whoever will hire them for any low wage because the media has assured us all that that flood of illegal immigrants doesn't have any impact on the economy.
After all, if you believe the media about this "worst economy" stuff then you have to believe them about illegal immigrants not having any impact on the economy, right?
8 years of Obama’s new normal stymied economic growth.
Even Obama did not expect his successor to work miracles — remember his snide ‘magic wand’ comment?
I seen to remember Obama bailing out the auto industry including the new and used car ownership which would become the “by Obama Fiat”....Obama’s favoritism towards the Solyndra loan, his stimulus plan, American Recovery and Reinvestment Act of 2009 was at best misguided and money wasted...some people made out like bandits...others, if you were not on the Obama Gravy Train....
The economy hurts the un-educated the most as they age, too.
How many people actually remember the great depression?
Well I was pretty depressed when Nebraska beat us in the 1995 Fiesta Bowl.
I don't know the person who wrote this but, they have no idea what the hell their talking about....
Would not be surprised if a large number of those people live in states and cities controlled by democrats, nor would it surprise me if many just do not want to work and cannot hold a job for various reasons
Illegal Aliens are Dem voters, which is why Dems need open borders for their very survival
I lost a 40,000 a year job during Obama.
I’m employed now again under Trump but still running short of the 40 I used to make.
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