Can we vote our way out of economic turmoil?

Dr.Drock

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Census Bureau: U.S. poverty rises to 15.1%, highest since 1983

Highlights:



•Median household income for the nation was $49,400 in 2010, a decline of 2.3% from 2009, when inflation is figured in.
•The 2010 official poverty rate for the nation was 15.1%, up from 14.3% in 2009, with 46.2 million people in poverty, an increase of 2.6 million since 2009.
•The percentage of people without health insurance coverage in 2010, 16.3%, was not statistically different from the rate in 2009. The number of uninsured increased to 49.9 million in 2010 from 49 million in 2009.

http://www.census.gov/newsroom/releases/pdf/2010_Report.pdf

Here's the census with their presentation that brought about the earlier article. If everyone can do me a favor go to slide 7, it says the median income in 1967 was $40,800 and in 2010 it was $49,400.

The Inflation Calculator

Now use this inflation calculator.

What cost $40,800 in 1967 would cost $263,428 in 2010.

What cost $ $40,800 in 2010 would cost $6,239 in 1967.

So income has risen by about 17% in 43 years, and the purchasing power of the dollar has absolutely plummeted. In terms of what you can buy with your dollar that has decreased by about 84% in that same time, so the increase in income hasn't been near enough to make up for the loss in the value of the dollar.




Seems to me that this isn't an issue we can vote our way out of, this seems to me like a Federal Reserve problem.
 

Dont Taz Me Bro

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Well, the Fed Chairman is appointed by the president. The Congress also passes laws that can strengthen or hurt economic growth, so yes, we can most certainly vote out way out of economic turmoil.
 
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Dr.Drock

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Well, the Fed Chairman is appointed by the president. The Congress also passes laws that can strengthen or hurt economic growth, so yes, we can most certainly vote out way out of economic turmoil.
Fair enough, but whatever our voting strategy has been the last 43-44 years at least hasn't been working.
 

uscitizen

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Not really as simple as a federal reserve problem.

there are many factors involved.
Credit, debt, globalization, US citizens being lazy and spoiled spendthrifts, Tax structures,
And many more.
But yes the Fed has contributed to the problem.
 

signelect

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If we don't vote our way out we will surly fight our way out. I had rather vote, the other way will not be pretty.
 

Mr Clean

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When compared to the influence that corporate big wigs and lobbyists wield in Washington, our votes really don't have a whole lot of punch.

So I would say no, we can't vote our way out of this economic mess.
 
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Dr.Drock

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Did anyone else use that calculator? Scary stuff
 

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