A comparison of the Reagan and Obama recoveries

[CrusaderFrank]

I don't see how anyone can argue with this:

It seems like proof positive, that supply side economics merely means, bailout the wealthiest and then let it trickle down To The Right.

In 2007 the richest 1% of the American population owned 34.6% of the country's total wealth, and the next 19% owned 50.5%. The top 20% of Americans owned 85% of the country's wealth and the bottom 80% of the population owned 15%.

From 1922 to 2010, the share of the top 1% varied from 19.7% to 44.2%, the big drop being associated with the drop in the stock market in the late 1970s. Ignoring the period where the stock market was depressed (1976-1980) and the period when the stock market was overvalued (1929), the share of wealth of the richest 1% remained extremely stable, at about a third of the total wealth.[20]

Financial inequality was greater than inequality in total wealth, with the top 1% of the population owning 42.7%, the next 19% of Americans owning 50.3%, and the bottom 80% owning 7%.[21]

However, after the Great Recession which started in 2007, the share of total wealth owned by the top 1% of the population grew from 34.6% to 37.1%, and that owned by the top 20% of Americans grew from 85% to 87.7%.

The Great Recession also caused a drop of 36.1% in median household wealth but a drop of only 11.1% for the top 1%, further widening the gap between the 1% and the 99%.[19][20][21]

During the economic expansion between 2002 and 2007, the income of the top 1% grew 10 times faster than the income of the bottom 90%. In this period 66% of total income gains went to the 1%, who in 2007 had a larger share of total income than at any time since 1928.

-- Source: Distribution of wealth - Wikipedia the free encyclopedia

Did you not want to address the OP?

 

[NYcarbineer]

I don't see how anyone can argue with this:

Since the maker of graphic can't spell, I doubt the math as well.

There's no comparison. Millions of good paying jobs have disappeared between Reagan and Obama.

I've had a business during Reagan till now and know many business people. It's down across the board while business was booming during Reagan's terms. You are either on drugs or flat out lying.

Because of the millions of good paying jobs we've lost...

 

[rightwinger]

I don't see how anyone can argue with this:

It shows that Reagans supply side theories did just what conservatives intended........destroy the middle class and provide a low wage workforce

 

[Agit8r]

The most recent year data available for average household income is 2013, which means that the graph is

 

[bripat9643]

I don't see how anyone can argue with this:

It shows that Reagans supply side theories did just what conservatives intended........destroy the middle class and provide a low wage workforce

How does a higher income translate to "destroying the working class?" If anything, It's Obama who is destroying the working class.

 

[Clementine]

It seems like proof positive, that supply side economics merely means, bailout the wealthiest and then let it trickle down To The Right.

In 2007 the richest 1% of the American population owned 34.6% of the country's total wealth, and the next 19% owned 50.5%. The top 20% of Americans owned 85% of the country's wealth and the bottom 80% of the population owned 15%.

From 1922 to 2010, the share of the top 1% varied from 19.7% to 44.2%, the big drop being associated with the drop in the stock market in the late 1970s. Ignoring the period where the stock market was depressed (1976-1980) and the period when the stock market was overvalued (1929), the share of wealth of the richest 1% remained extremely stable, at about a third of the total wealth.[20]

Financial inequality was greater than inequality in total wealth, with the top 1% of the population owning 42.7%, the next 19% of Americans owning 50.3%, and the bottom 80% owning 7%.[21]

However, after the Great Recession which started in 2007, the share of total wealth owned by the top 1% of the population grew from 34.6% to 37.1%, and that owned by the top 20% of Americans grew from 85% to 87.7%.

The Great Recession also caused a drop of 36.1% in median household wealth but a drop of only 11.1% for the top 1%, further widening the gap between the 1% and the 99%.[19][20][21]

During the economic expansion between 2002 and 2007, the income of the top 1% grew 10 times faster than the income of the bottom 90%. In this period 66% of total income gains went to the 1%, who in 2007 had a larger share of total income than at any time since 1928.

-- Source: Distribution of wealth - Wikipedia the free encyclopedia

Trickle down to the right? You blew it right there when you showed you weren't thinking rationally.

How could things be bad in 2007 after Clinton fixed everything? Or did he play the blame game throughout his presidency, too? Funny how the left will blame Republicans for everything.

We have people like Soros making big bucks off the misery of many people. He cleaned up after the financial crisis, too. That is because he knew it was coming since Dems were instrumental in causing it.

 

[CowboyTed]

So GOP throw the bus off the cliff and then complain that you are going down.

Obama has done a pretty good job at handling the worst financial meltdown since the 20's. He avoided a depression which alone is solid achievement.
While working with a ineffective and objective congress he managed to dramatically improve the economy under nearly all metrics. He also passed some ground breaking legislation.

In the history of time Obama (as his approval polls show now) will considered a successful president who had some major challenges and handled them well. One of his major challenges will record the partisan politics and the GOP attitude of supporting 'Red over America'.

As I have said before if this was any other country the GOP would be spending 25 years i the wilderness of politics after Bush's handling of wars and economy with the continued actions of the GOP congress.

 

[JimH52]

I don't see how anyone can argue with this:

Can you argue with the fact that W left the country in the worse economic condition since the Great Depression? No, I guess you can't. Administrations for decades to come will be paying for the incompetence of the recovering alcoholic.

 

[Iceweasel]

Because of the millions of good paying jobs we've lost...

And millions more were created, no thanks to the unions.

 

[Iceweasel]

Obama has done a pretty good job at handling the worst financial meltdown since the 20's.

LOL

Over 18 trillion in debt and this retard calls it a good job!

 

[JimH52]

Obama has done a pretty good job at handling the worst financial meltdown since the 20's.

LOL

Considering the fact that the GOP Congress has tried to do everything they could to keep the economy in the dumpster, he has done very well. When the bridges in the country begin to fall, remember the GOP and their cry for austerity.

 

[rightwinger]

I don't see how anyone can argue with this:

It shows that Reagans supply side theories did just what conservatives intended........destroy the middle class and provide a low wage workforce

How does a higher income translate to "destroying the working class?" If anything, It's Obama who is destroying the working class.

What higher income?

Reagan set in motion policies which degraded the ability of workers to negotiate, collectively bargain while shifting more of the tax burden to the middle class

Then conservatives gloat because future presidents must deal with the impact of Reaganomics

 

[bripat9643]

I don't see how anyone can argue with this:

Can you argue with the fact that W left the country in the worse economic condition since the Great Depression? No, I guess you can't. Administrations for decades to come will be paying for the incompetence of the recovering alcoholic.

Anyone can argue with that because it's pure lies. The Great Depression was caused by precisely the kind of policies that numskulls like you support. Obama didn't avoid it. He pushed us closer to it. That's why the economy sucks so bad right now.

We will be paying for the incompetence of Obama administration for decades.

 

[bripat9643]

I don't see how anyone can argue with this:

It shows that Reagans supply side theories did just what conservatives intended........destroy the middle class and provide a low wage workforce

How does a higher income translate to "destroying the working class?" If anything, It's Obama who is destroying the working class.

What higher income?

Reagan set in motion policies which degraded the ability of workers to negotiate, collectively bargain while shifting more of the tax burden to the middle class

Then conservatives gloat because future presidents must deal with the impact of Reaganomics

The higher incomes that the government documented, as opposed to the lower incomes caused by the Obama administration.

 

[Iceweasel]

Obama has done a pretty good job at handling the worst financial meltdown since the 20's.

LOL

Considering the fact that the GOP Congress has tried to do everything they could to keep the economy in the dumpster,

LOL. Doubling down on retard. Priceless!

 

[rightwinger]

I don't see how anyone can argue with this:

It shows that Reagans supply side theories did just what conservatives intended........destroy the middle class and provide a low wage workforce

How does a higher income translate to "destroying the working class?" If anything, It's Obama who is destroying the working class.

What higher income?

Reagan set in motion policies which degraded the ability of workers to negotiate, collectively bargain while shifting more of the tax burden to the middle class

Then conservatives gloat because future presidents must deal with the impact of Reaganomics

The higher incomes that the government documented, as opposed to the lower incomes caused by the Obama administration.

Lower incomes have been a byproduct of 30 years of Reaganomics.....just like Conservatives intended

Trickle down tuned out to be the wealthy keeping the money

 

[healthmyths]

I don't see how anyone can argue with this:

It seems like proof positive, that supply side economics merely means, bailout the wealthiest and then let it trickle down To The Right.

In 2007 the richest 1% of the American population owned 34.6% of the country's total wealth, and the next 19% owned 50.5%. The top 20% of Americans owned 85% of the country's wealth and the bottom 80% of the population owned 15%. From 1922 to 2010, the share of the top 1% varied from 19.7% to 44.2%, the big drop being associated with the drop in the stock market in the late 1970s. Ignoring the period where the stock market was depressed (1976-1980) and the period when the stock market was overvalued (1929), the share of wealth of the richest 1% remained extremely stable, at about a third of the total wealth.[20] Financial inequality was greater than inequality in total wealth, with the top 1% of the population owning 42.7%, the next 19% of Americans owning 50.3%, and the bottom 80% owning 7%.[21] However, after the Great Recession which started in 2007, the share of total wealth owned by the top 1% of the population grew from 34.6% to 37.1%, and that owned by the top 20% of Americans grew from 85% to 87.7%. The Great Recession also caused a drop of 36.1% in median household wealth but a drop of only 11.1% for the top 1%, further widening the gap between the 1% and the 99%.[19][20][21] During the economic expansion between 2002 and 2007, the income of the top 1% grew 10 times faster than the income of the bottom 90%. In this period 66% of total income gains went to the 1%, who in 2007 had a larger share of total income than at any time since 1928. -- Source: Distribution of wealth - Wikipedia the free encyclopedia

It's proof positive that everyone who voted for Obama is a sucker.

And this is the insult of all insults!
Obama KNEW he would be elected by suckers because he EVEN told these people they were fooled!

Remember Obama's "Dreams from My Father"...
"It was usually an effective tactic, another one of those tricks I had learned.
People were satisfied so long as you were courteous and smiled and made no sudden moves.
They were more than satisfied. They were revealed.
Such a pleasant surprise to find a well-mannered young black man who didn't seem angry all the time."

He told this people they were FOOLS!
Then he hires an advisor who has the same attitude about the "Stupidity of the American Voter" with Jonathan Gruber!

The ONLY positive value Obama had when he first ran was he was black!
And he made sure that everyone knew that when he told us...
"They're going to try to make you afraid of me. He's young and inexperienced
and he's got a funny name. And did I mention he's black?"
Obama says Republicans will use race to stoke fear Reuters

And of course the MSM lapped Obama up to such a degree that the Editor of NewsWeek
who once was asked about Bush:
"our job is to bash the president[Bush], that's what we do." Evan Thomas responding to a question on whether the media's unfair to Bush on the TV talk show Inside Washington, February 2, 2007.He-Could-Go-All-The-Way Today Cheers Obama s Football Play

But when it came to Obama???
YET this same Editor of NewsWeek Thomas gushed about Obama.....
"mean in a way Obama’s standing above the country, above – above the world, he’s sort of God."
Evan Thomas on Hardball, Newsweek s Evan Thomas Obama Is Sort of God


How could this idiot president NOT succeed when he fooled people, he had one attribute his race and the MSM loved him!

 

[JimH52]

I don't see how anyone can argue with this:

Can you argue with the fact that W left the country in the worse economic condition since the Great Depression? No, I guess you can't. Administrations for decades to come will be paying for the incompetence of the recovering alcoholic.

Anyone can argue with that because it's pure lies. The Great Depression was caused by precisely the kind of policies that numskulls like you support. Obama didn't avoid it. He pushed us closer to it. That's why the economy sucks so bad right now.

We will be paying for the incompetence of Obama administration for decades.

Let's se....who was President when the country was driven into the Great Depression. Oh! That would be Herbert Hoover....a Republican! And who was President when the country was driven into the Great Recession? Oh! That would be George W Bush....a Republican.

Is this a coincidence or is it a trend. I argue that it is the latter. And now the Republicans want another chance at screwing over the economy.....REALLY?

FDR us out of the Great Depression and Obama is bringing us out of the Great Recession.

So....VOTE REPUBLICAN IN 2016 AND MAKE SURE THE COUNTRY:

-Invades the wrong country again
-Begins another dive into the abyss known as Republican austerity

 

[CowboyTed]

Obama has done a pretty good job at handling the worst financial meltdown since the 20's.

LOL

Over 18 trillion in debt and this retard calls it a good job!

A depression would have been far more costly both financially and socially... The collapse in the US GDP would have made the debt to GDP ratio look far worse than today.

But if you're worried about debt, Obama has over halved the deficit.

Something no GOP president has done in close to 100 years... Where were you when Bush and Regan were yanking it up?

 

[Iceweasel]

... who was President when the country was driven into the Great Recession? Oh! That would be George W Bush....a Republican.

Who was controlling spending? Oh that's right. Democrats. Spending and money are closely related,you know.