There’s a reason the news has been consumed by things like the debt ceiling, continuing resolutions, and Obamacare. They can be easily demagogued and republicans can, and will, be blamed for all of it by the administration and the compliant media.
When it comes to the economy and related numbers, income is down, poverty is up. It’s no longer possible to blame Bush for it. This is Obama’s failed economy. No one else’s.
Try as they might, there are some out there that tout it as a resounding success. Like MSNBC’s Ed Shultz. He can’t believe that only 45% of Americans believe Obama’s handling of he economy is good! And that was a month ago.
“It amazes me that people don’t love Obama…It just amazes me he can’t get above 50 percent when it comes to a favorable view of the economy.”
Ed then touts how the stock market is going through the roof and how Obama has been “hands off” on Wall Street. Oh really? The stock market has been artificially pumped up for years with the Quantitative Easing from Federal Reserve. Printing trillions of dollars that is not going to main street. It’s being used on Wall Street, and, is a major contributor to the widening gap in income between the wealthiest Americans and the rest of us. And that’s why any hint that the QE printing presses will be cut back causes the stock market to come down off its QE high. While Ed Shultz is touting this great stock market, and how wonderful the economy’s doing, here comes Ben Bernanke, the chairman of the Federal Reserve saying, “Oh, no it’s not, and if we don’t continue to pump $1 trillion a year into it, it’s gonna plunge.”
On Main Street, the picture is not any better. In fact, it’s much worse.
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…
- 2007: $55,627
- 2008: $53,644
- 2009: $53,285
- 2010: $51,892
- 2011: $51,100
- 2012: $51,017
You also didn’t 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. The median income in those counties is it $101,000. And now that Obama has exempted them from the Healthcare Exchanges, making you pay 75% of their health insurance policy, the political class is doing just fine.
The new Census report also revealed that 46.5 million Americans are living in poverty. During the four years that marked President Barack Obama’s first term in office, the real median income of American households dropped by $2,627 and the number of people on poverty increased by about 6,667,000, according to data released by the Census Bureau.
Right now, one out of every five households in the United States is on food stamps. Keep in mind too that the increased cost and fines associated with Obamacare have not been fully realized yet. That will only make things worse. There are lots of troubling signs as we get ready to head into the fall season…
- -Total mortgage activity has dropped to the lowest level that we have seen since October 2008.
- -One of the largest furniture manufacturers in America was just forced into bankruptcy.
- -According to the Wall Street Journal, the 2013 holiday shopping season is already being projected to be the worst that we have seen since 2009.
Oh but it doesn’t stop there. The administration will say that two million jobs were created last year? What kind? Lower paying and part-time jobs primarily in the service industries, some of which are second and third jobs people are taking just to make ends meet. The sad fact is that over two million jobs have been lost from the entire labor force since Obama took office. Counting unemployment the way it used to be counted, the rate would be well over 14 percent, known as the U-6 by the BLS.
But those falling median income numbers still don’t tell the whole story. Breaking it down by ethnicity, you’ll see that the strongest voting block for Democrats is hurting the most, and by far.
“The median income for non-Hispanic White households was $57,009, and it was $33,321 for Black households,” which is falling, after nearly five years of the first Black president. Black unemployment remains the highest in the country, Black median income at the lowest. Teen Black unemployment is unacceptably, almost criminally high. With results like this, it is puzzling why the Black population votes by 93% every four years for the Democrat candidate. Under both White and Black Democrat presidents, it should be obvious that Obama’s skin color didn’t improve their circumstances one iota. In fact, they got worse. The promises are always there. They’re fighting for you. Bla Bla Bla. Have the Democrats fulfilled their promise? Are you gaining, or losing? That’s the only question you need to ask yourself. And the answer, no mater the color of your skin, is losing. At best, it’s time to realize which party can help your situation. At worst, you can ask yourself, “What do I have to lose?”