weeklystandard.com Americans’ Incomes Have Fallen $3,040 During the Obama ‘Recovery’
8:02 AM, Sep 27, 2012 • By JEFFREY H. ANDERSON
Americans must be wondering how much more of this “recovery” they can afford. New figures from the Census Bureau’s Current Population Survey, compiled by Sentier Research, show that the typical American household’s real (inflation-adjusted) income has actually dropped 5.7 percent during the Obama “recovery.” Using constant 2012 dollars (to adjust for inflation), the median annual income of American households was $53,718 as of June 2009, the last month of the recession. Now, after 38 months of this “recovery,” it has fallen to $50,678 — a drop of $3,040 per household.
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Yet it gets worse. Amazingly, incomes have dropped even more during the “recovery” than they did during the recession. In fact, they’ve dropped more than twice as much as they did during the recession. From the start to the end of the recession, the real median income of American households fell $1,413, or 2.6 percent. From the end of the recession to the present day, it has dropped $3,040, or 5.7 percent. This begs the question: What kind of “recovery” compares unfavorably with the recession from which it’s ostensibly recovering?
Two of the groups hit hardest have been ones that turned out in abundance for Obama in 2008: black Americans and younger Americans (those between the ages of 25 and 34). During the first three years of the Obama “recovery,” the real median household income for black Americans dropped a whopping 11.1 percent. For Americans between the ages of 25 and 34 — the group most apt, as Paul Ryan put it, to be “staring up at fading Obama posters” and looking to “get going with life” — real median household income dropped 8.9 percent.
Moreover, we’re still not headed in the right direction. Last month, American households’ real median annual income fell by another $543 — from $51,221 to $50,678. Sentier’s Gordon Green, former chief of the Governments Division at the Census Bureau, says, “This latest decline in real median annual household income is indicative of a struggling economy.” He adds that, while we are “technically” in a recovery, “real median annual household income is having a difficult time maintaining its present level, much less ‘recovering.’”
Similarly, the percentage of Americans who are employed has dropped during the Obama “recovery” — from 59.4 percent during the final month of the recession to just 58.3 percent last month. That’s according to the Obama administration’s own figures.
So, to recap, compared to the last month of the recession (in June 2009), the percentage of Americans who are employed has dropped 1.1 points, and typical Americans’ real annual household income has dropped $3,040. Who knew how good we had it back in the glory days of the Great Recession?
No wonder Obama says he’s running for reelection because he wants to realize “the future we imagined in 2008.” He can’t very well run on the reality we’re experiencing in 2012.
Location: Dude, I am so sorry about whatever made you like this. Take it easy. Joined: 07.06.2007
Sep 29 @ 2:51 PM ET
No I mean Stewart and Colbert. The Major News broadcasts on the "Networks" ABC, NBC & CBS have dismal ratings and is not geared to younger viewers. - Doppleganger
i know what you meant.. and it was a foolish statement.
i assume the networks still have better ratings than the cable shows. and how do you figure oreilly and hannity are geared toward younger viewers?
i know what you meant.. and it was a foolish statement.
i assume the networks still have better ratings than the cable shows. and how do you figure oreilly and hannity are geared toward younger viewers? - Crimsoninja
I said the 3 Network News casts are not geared to younger viewers, I did not say that O'Reilly or Hannity were geared to younger viewers.
Clearly Stewart and Colbert are geared to a younger demographic and that's where the majority of them get their news from.
Location: Dude, I am so sorry about whatever made you like this. Take it easy. Joined: 07.06.2007
Sep 30 @ 2:58 PM ET
has anyone ever told you that you talk in circles? - Crimsoninja
ok (frank) kick youre right, i shouldnt have let myself get sucked in
dopps, you just have the ability to tick me off and i respect that. while i cant say that i do not lean toward the left - i just cant stand when someone comes like their (or their party's) poop dont stink. hence why most of my politically oriented posts are responses to your digs at the liberals - rather than me just coming out to bash conservatives. for the record people like maddow and olberman piss me off just as much as oreilly and hannity.
ok (frank) kick youre right, i shouldnt have let myself get sucked in
dopps, you just have the ability to tick me off and i respect that. while i cant say that i do not lean toward the left - i just cant stand when someone comes like their (or their party's) poop dont stink. hence why most of my politically oriented posts are responses to your digs at the liberals - rather than me just coming out to bash conservatives. for the record people like maddow and olberman piss me off just as much as oreilly and hannity. - Crimsoninja
The rating clearly show that more people watch FNC than any other cable news source. Either, as you seem to be insinuating, those people are being fooled, hypnotized or having the wool pulled over their eyes.
I don't know about you, but I enjoy seeing both sides of a story. Each side spins their interpretation and I feel I can make up my own mind.
People tend to gravitate towards what they believe to be the news source they believe the most, or perhaps just agrees with their POV on any given issue.
Before FOX news came along, the news media were "all on the same page" and there was no difference in their coverage, so FOX news has been good it the big picture, as competition brings a better product to the market.
Location: Dude has all the personality of a lump of concrete. Just a complete lizard. Joined: 06.26.2006
Oct 1 @ 12:06 PM ET
people who watch news know who they are voting for, it is the people who do not watch and have not made up their minds yet that will decide the election, ratings have zero influence
• First President to apply for college aid as a foreign student, then deny he was a foreigner.
• First President to have a social security number from a state he has never lived in.
• First President to preside over a cut to the credit-rating of the United States
• First President to violate the War Powers Act.
• First President to be held in contempt of court for illegally obstructing oil drilling in the Gulf of Mexico .
• First President to require all Americans to purchase a product from a third party.
• First President to spend a trillion dollars on ‘shovel-ready‘ jobs when there was no such thing as ’shovel-ready’ jobs.
• First President to abrogate bankruptcy law to turn over control of companies to his union supporters.
• First President to by-pass Congress and implement the Dream Act through executive fiat.
• First President to order a secret amnesty program that stopped the deportation of illegal immigrants across the U.S. , including those with criminal convictions.
• First President to demand a company hand-over $20 billion to one of his political appointees.
• First President to tell a CEO of a major corporation (Chrysler) to resign.
• First President to terminate America ‘s ability to put a man in space.
• First President to cancel the National Day of Prayer and to say that America is no longer a Christian nation.
• First President to have a law signed by an auto-pen without being present.
• First President to arbitrarily declare an existing law unconstitutional and refuse to enforce it.
• First President to threaten insurance companies if they publicly spoke-out on the reasons for their rate increases.
• First President to tell a major manufacturing company in which state it is allowed to locate a factory.
• First President to file lawsuits against the states he swore an oath to protect (AZ, WI, OH, IN).
• First President to withdraw an existing coal permit that had been properly issued years ago.
• First President to actively try to bankrupt an American industry (coal).
• First President to fire an inspector general of Ameri-Corps for catching one of his friends in a corruption case.
• First President to appoint 45 czars to replace elected officials in his office.
• First President to surround himself with radical left wing anarchists.
• First President to golf 103 separate times in his first three and a half years in office.
• First President to hide his medical, educational and travel records.
• First President to win a Nobel Peace Prize for doing NOTHING to earn it.
• First President to go on multiple global “apology tours” and concurrent “insult our friends” tours.
• First President to go on 17 lavish vacations, including date nights and Wednesday evening White House parties for his friends paid for by the taxpayer.
• First President to have 22 personal servants (taxpayer funded) for his wife.
• First President to keep a dog trainer on retainer for $102,000 a year at taxpayer expense.
• First President to repeat the Holy Qur’an & tell us the early morning call of the Azan (Islamic call to worship) is the most beautiful sound on earth.
• First President to tell the military men and women that they should pay for their own private insurance because they “volunteered to go to war and knew the consequences”.
• Then, he was the First President to tell the members of the military that THEY were UNPATRIOTIC for balking at the last suggestion.
• First President to side with a foreign nation over one of the American 50 states ( Mexico vs Arizona ).
How is this hope and change working out for you? THERE’S AN ELECTION COMING UP…I HOPE YOU REMEMBER THIS LIST WHEN YOU VOTE!!!
