It ought to be clear by now that nothing President Obama has done to “fix” our economy has worked. And the reason is he has it all wrong. You can’t build the private sector economy when you bleed the strength from it via taxes, over-regulation, and debt. As the government grows, the economy shrinks. And boy has the government grown.
Aside from his propensity to tax and spend, where spending is to favor contributors, labor unions, and favored special interests like environmental wackos and green energy flops, none of which builds the economy, President Obama’s economic engineering is not working because he can’t identify the problem.
The problem is not the minimum wage. That is a political strategy for hooking low information voters and the poor to vote Democratic. And to give Big Labor a raise. Raising the minimum wage will cause people to lose jobs. Just like Obamacare is causing people to lose jobs. The middle class is getting poorer. While the minimum wage remained steady, the median family income has fallen every year since Obama’s “recovery” began.
According to the Census report, the high point for median household income in the United States was back in 1999 ($56,080). It almost got back to that level in 2007 ($55,627), but ever since then there has been a steady decline. The following figures come directly from the report, and as you can see, median household income has fallen every single year for the past five years…
Did you know that there are six counties in America where the median income is over twice the national median? Four of those counties are suburban Washington.
You know where President Obama’s focus is. And it is not on how to raise median family income. That’s where the middle class is. Is this because he doesn’t know how? Or is it because he doesn’t care that his social justice agenda is killing jobs and ruining the economy, especially the middle class? Which one works for you?